Bargain Property

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EXPERT OBSERVER
When considering commercial property, you may think you need a lot of money, and most commercial property is indeed expensive. However, there are bargains to be had.
The majority of the cheapest listings sold on realcommercial.com.au in the past 12 months were storage units and regional development sites, some even with incomes.
The third cheapest commercial listing sold in the past 12 months – a development site in Brigalow – included a billboard, which was reported as earning $13,000 per annum. Not bad for a $36,000 purchase price.
The 10th cheapest – an office suite in Dandenong – is leased for $5,700 per annum, which again, isn’t a bad yield on a $57,000 purchase.
<img src="https://www.urban.com.au/images/2020/7/1/Cheap%20commercial.JPG" alt="">
NERIDA CONISBEE <a href="https://www.realestate.com.au/news/author/nerida-conisbee/" target="_blank">is the chief economist for the REA Group</a>
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What commercial property is selling for bargain prices? REA's Nerida Conisbee

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EXPERT OBSERVER
As Australian house hunters wade through the economic uncertainties brought on by COVID-19, it seems many are hoping to stumble upon a bargain.
We are yet to see any dramatic shift in house prices despite some economists predicting increases as well as major price falls – some even say the falls are already occurring.
Nevertheless, house hunters appear to be preparing to strike when the iron is hot, which is evidenced in very high levels of buyer search activity on realestate.com.au during the health crisis.
They might get what they’re hoping for in spring when financial supports from the Federal Government and the banks – which are largely keeping the property market afloat – grind to a halt.
Characteristics Australians look for in properties under $400K
The average property seeker on realestate.com.au shows a strong preference for a house with four bedrooms, two bathrooms and two car parks.
For those looking at cheaper homes – under $400K – houses are still preferred, but the greater availability of cheaper apartments means many will end up looking at apartments. Preferences for cheaper houses are three bedrooms, two bathrooms and one car park.
Perhaps the only consistency between both buyer types is air conditioning and secure parking, with these features being the most popular for both.
Beyond that, regular buyers show a much stronger preference for a swimming pool while bargain hunters are satisfied with built-in-robes.
Most in-demand affordable suburbs and properties
Every city has affordable suburbs, but Adelaide and Hobart top the list for the most in demand. Rosewater in Adelaide, only 10km from the Adelaide CBD and containing some lovely period homes, is currently the most in-demand affordable suburb in Australia.
Coming in at number two is New Town in Hobart where it might not be possible to purchase a house for under $400,000, but you can certainly get a unit. Not a bad price for waterside living. 
<div class="flourish-embed flourish-table" data-src="visualisation/2595461?206536" data-url="https://flo.uri.sh/visualisation/2595461/embed"><img src="https://www.urban.com.au/images/2020/7/1/REA%20MAY%2031.JPG" alt=""></div>
If $400,000 is out of the budget, and rural living isn’t an issue, <a href="https://www.realestate.com.au/property-house-sa-kadina-130477510" target="_blank">an ultra-cheap one bed, one bath, and one car is available in Kadina</a> – 150km from Adelaide – for $35,000. Marketed as unliveable and unsafe to walk through, the 950sqm of land may appeal.
NERIDA CONISBEE <a href="https://www.realestate.com.au/news/author/nerida-conisbee/" target="_blank">is the chief economist for the REA Group</a>
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What bargain buyers want the most: REA's Nerida Conisbee

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There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
A 1980s built home in Chinchilla, in the Western Downs region of Queensland, looks set to sell for less than the vendor bought it for seven years ago.
The brick home on 820 sqm is up for sale for $160,000, having last traded for $310,000 in 2012.
It's been a $200 to $220 a week rental in recent years.
Initially listed in 2016 for $220,000, the guide has steadily declined every few months, down to first $199,000, then $180,000, and now down to $160,000.
The home has three bedrooms, one bathroom and a large rear garden. There's a fully equipped private bore.
Marg Whip and Terry Hay at Property Sales and Rentals Chinchilla are marketing the home as suited to the elderly, a first home buyer or investor.
"At this price anyone could buy," they suggest in the listing.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/8/1/30%20Beasley%20Street%20Chinchilla%202.jpg" alt="">
Property Observer advise that it is up to you to determine if the offering is a truly beneficial bargain.
<div class="image-wrapper">
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
As a part of this series, we've already had a look at properties in <a href="https://www.urban.com.au/expert-insights/buying/98408-bargain-property-at-mount-eliza-home-at-2-million-discount" target="_blank">Mount Eliza</a>, <a href="https://www.urban.com.au/expert-insights/buying/100193-bargain-property-in-central-geelong-sale-price-dips-after-one-year" target="_blank">Central Geelong</a>, <a href="https://www.urban.com.au/expert-insights/buying/99141-bargain-property-in-east-perth-near-new-apartment-makes-150-000-loss" target="_blank">East Perth</a> and <a href="https://www.urban.com.au/expert-insights/buying/101443-bargain-property-in-sydney-olympic-park-apartment-listed-at-180-000-value-discount" target="_blank">Sydney Olympic Park</a>.
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jrobinson-rf4aSBido9

Bargain property in Chinchilla? 1980s home set to sell for half of 2012 sale price

<html><body>
There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
A Caravonica, Queensland home located in a tropical rainforest is currently listed for $875,000.
Now entering it's 7th year on the market, the house originally sought $1.125 million.
Rick Szelpuk of NewManor Realty is currently marketing the property.
Situated at <a href="https://www.realestate.com.au/property-house-qld-caravonica-121892102" target="_blank">62-64 Fig Tree Drive</a>, the home sits on a 8,200 sqm block.
The three bedroom, three bathroom house is being offered for sale for the very first time.
Built over two levels, both the upper and lower floors are surrounded by wrap around entertaining decks.
Located 15 minutes to the Cairns CBD, the listing describes the home as a "magnificent timber master piece offering unparalleled privacy."
The holding was last sold in 1989 for $31,250.
<img src="https://www.urban.com.au/images/2019/7/29/Caravonica%20Bargain%202.JPG" alt="">
Property Observer advise that it is up to you to determine if the offering is a truly beneficial bargain.
<div class="image-wrapper">
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
As a part of this series, we've already had a look at properties in <a href="https://www.urban.com.au/expert-insights/buying/98408-bargain-property-at-mount-eliza-home-at-2-million-discount" target="_blank">Mount Eliza</a>, <a href="https://www.urban.com.au/expert-insights/buying/100193-bargain-property-in-central-geelong-sale-price-dips-after-one-year" target="_blank">Central Geelong</a>, <a href="https://www.urban.com.au/expert-insights/buying/99141-bargain-property-in-east-perth-near-new-apartment-makes-150-000-loss" target="_blank">East Perth</a> and <a href="https://www.urban.com.au/expert-insights/buying/101443-bargain-property-in-sydney-olympic-park-apartment-listed-at-180-000-value-discount" target="_blank">Sydney Olympic Park</a>.
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j.ballantyne1990-6AQqhLzZaK

Bargain property in Caravonica? Tropical Queensland rainforest house listing slashed $250,000

<html><body>
There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
A West Beach, West Australia house has seen its listing slashed by $300,000 and is still without a buyer.
The six bedroom, two bathroom home was first listed in April 2013, just over 6 years ago.
Paul Blackham of Professionals is currently marketing the listing.
The oceanfront reserve abode captures southern ocean and island views from its elevated position. It has an outlook from Dempster Head to Blue Haven.
Set on 1080 sqm, the property was originally listed for $1.5 million.
The asking price was first reduced to its current point, $1.2 million, in October 2016.
Two DA's were submitted for extensions to the home valued at a combined $100,000, following the last sale of the home in 2001.
It transacted for $450,000 when it traded hands in 2001.
The 1977 built home has garaging for 5 vehicles.
There are certainly opportunities in the current 2019 market to pay less than the last price.
<img src="https://www.urban.com.au/images/2019/7/26/West%20Beach%202.JPG" alt="">
Property Observer advise that it is up to you to determine if the offering is a truly beneficial bargain.
<div class="image-wrapper">
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
As a part of this series, we've already had a look at properties in <a href="https://www.urban.com.au/expert-insights/buying/98408-bargain-property-at-mount-eliza-home-at-2-million-discount" target="_blank">Mount Eliza</a>, <a href="https://www.urban.com.au/expert-insights/buying/100193-bargain-property-in-central-geelong-sale-price-dips-after-one-year" target="_blank">Central Geelong</a>, <a href="https://www.urban.com.au/expert-insights/buying/99141-bargain-property-in-east-perth-near-new-apartment-makes-150-000-loss" target="_blank">East Perth</a> and <a href="https://www.urban.com.au/expert-insights/buying/101443-bargain-property-in-sydney-olympic-park-apartment-listed-at-180-000-value-discount" target="_blank">Sydney Olympic Park</a>.
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Bargain property in West Beach, WA? Waterfront reserve house listing slashed $300,000

<html><body>
There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
A three bedroom, two bathroom Glen Innes, New South Wales house has seen it's asking price fall yet again in the seven or so years it has been on market.
The home's asking price is just $265,000.
A $20,000 reduction on the June asking price of $285,000 and a $30,000 reduction on the May asking price of $295,000.
Diana Corcoran of Diana Corcoran Real Estate is currently marketing the listing.
Situated at <a href="https://www.realestate.com.au/property-house-nsw-glen+innes-113691499" target="_blank">31 Lindsay Avenue</a>, the abode was originally listed for $450,000.
Set on 873 sqm, the two story home has been "well maintained" according to the listing.
Featuring an in ground swimming pool and a double garage with internal access, the property itself sits on an elevated position.
The house has spent more than 2,400 days on the market.
<img src="https://www.urban.com.au/images/2019/7/26/Glen%20Innes%20Bargain%202.JPG" alt="">
Property Observer advise that it is up to you to determine if the offering is a truly beneficial bargain.
<div class="image-wrapper">
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
As a part of this series, we've already had a look at properties in <a href="https://www.urban.com.au/expert-insights/buying/98408-bargain-property-at-mount-eliza-home-at-2-million-discount" target="_blank">Mount Eliza</a>, <a href="https://www.urban.com.au/expert-insights/buying/100193-bargain-property-in-central-geelong-sale-price-dips-after-one-year" target="_blank">Central Geelong</a>, <a href="https://www.urban.com.au/expert-insights/buying/99141-bargain-property-in-east-perth-near-new-apartment-makes-150-000-loss" target="_blank">East Perth</a> and <a href="https://www.urban.com.au/expert-insights/buying/101443-bargain-property-in-sydney-olympic-park-apartment-listed-at-180-000-value-discount" target="_blank">Sydney Olympic Park</a>.
</div>
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Bargain property in Glen Innes? House listing reduced 40% over 7 years

<html><body>
There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
A Mackay Harbour, Queensland apartment has slashed its listing $450,000 and is still yet to find a buyer.
Originally listed in 2008 the unit sought $1.8 million.
11 years down the track the vendors are now seeking just $1.35 million, a $450,000 reduction from what was originally sought.
Hermina Vickers of Vickers Group is currently marketing the property.
Situated at <a href="https://www.realestate.com.au/property-apartment-qld-mackay+harbour-104686637" target="_blank">1/5 Megan Place</a>, the property is a four bedroom, three bathroom apartment.
Set on 429 sqm, the abode comprises 210 sqm of balcony and 219 sqm of internal area.
Featuring a balcony on the front side and back, the unit features views of the international marina as well as the ocean and Coral Sea Islands.
It is located on the terrace level of the Admiralty Towers.
The holding includes two secure car park spaces and access to complex facilities such as the pool, spa, sauna and BBQ area.
<img src="https://www.urban.com.au/images/2019/7/24/Admiralty%20towers%202.JPG" alt="">
<div class="image-wrapper">Property Observer advise that it is up to you to determine if the offering is a truly beneficial bargain.</div>
<div class="image-wrapper">
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
As a part of this series, we've already had a look at properties in <a href="https://www.urban.com.au/expert-insights/buying/98408-bargain-property-at-mount-eliza-home-at-2-million-discount" target="_blank">Mount Eliza</a>, <a href="https://www.urban.com.au/expert-insights/buying/100193-bargain-property-in-central-geelong-sale-price-dips-after-one-year" target="_blank">Central Geelong</a>, <a href="https://www.urban.com.au/expert-insights/buying/99141-bargain-property-in-east-perth-near-new-apartment-makes-150-000-loss" target="_blank">East Perth</a> and <a href="https://www.urban.com.au/expert-insights/buying/101443-bargain-property-in-sydney-olympic-park-apartment-listed-at-180-000-value-discount" target="_blank">Sydney Olympic Park</a>.
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Bargain property in Mackay Harbour? Apartment listing slashed $450,000 remains unsold

<html><body>
There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling.
We take a look at where and if possible why this is happening.
We came across this property for consideration.
A waterfront Rosslyn, Queensland villa has been listed for $1.15 million.
This marks a $250,000 reduction on its previous sale price of $1.4 million.
Jared Hooper of Brian Hooper Real Estate is currently marketing the listing.
Situated at <a href="https://www.realestate.com.au/property-house-qld-rosslyn-104726747" target="_blank">5 Bayside Way</a>, the three bedroom two, bathroom house with its own berth sits on the waters edge.
Set on 273 sqm, the villa is north east facing with harbour and ocean views.
Located 8 kilometres south of Yeppoon, the largest seaside town on the Queensland coastline, the open plan design incorporates cathedral ceilings, tiled flooring (downstairs) and full length glass walls opening on to the deck areas.
Last sold in 2005, the property transacted for $1.4 million.
The home was briefly listed in 2017 and 2018 seeking $1.25 million.
<img src="https://www.urban.com.au/images/2019/7/22/Rosslyn%202.png" alt="">
<div class="image-wrapper">Property Observer advise that it is up to you to determine if the offering is a truly beneficial bargain.</div>
<div class="image-wrapper">
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
As a part of this series, we've already had a look at properties in <a href="https://www.urban.com.au/expert-insights/buying/98408-bargain-property-at-mount-eliza-home-at-2-million-discount" target="_blank">Mount Eliza</a>, <a href="https://www.urban.com.au/expert-insights/buying/100193-bargain-property-in-central-geelong-sale-price-dips-after-one-year" target="_blank">Central Geelong</a>, <a href="https://www.urban.com.au/expert-insights/buying/99141-bargain-property-in-east-perth-near-new-apartment-makes-150-000-loss" target="_blank">East Perth</a> and <a href="https://www.urban.com.au/expert-insights/buying/101443-bargain-property-in-sydney-olympic-park-apartment-listed-at-180-000-value-discount" target="_blank">Sydney Olympic Park</a>.
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Bargain property in Rosslyn? Waterfront Rosslyn villa listed at $250,000 reduction

<html><body>
There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
A pair of Bowen, Queensland duplex's has seen its listing slashed $180,000.
Currently listed for $340,000, the property first arrived on market in March 2008 seeking $520,000.
Bonnie Kohlhase of LJ Hooker is currently marketing the latest relisting
Situated at <a href="https://www.realestate.com.au/property-house-qld-bowen-104745682" target="_blank">17 Casuarina Street</a>, the property was listed as a rental in 2015, midway through the campaign, for $220/pw. 
Set on 709 sqm, the duplex's are both comprised of two bedrooms and two bathrooms.
One was recently refloored, while both recently got a new roof and a fresh coat of paint, according to the listing
It is located a couple blocks from the beach.
The asking price was last reduced in May 2018.
Last sold in 1981, the property transacted for $53,000.
<img src="https://www.urban.com.au/images/2019/7/22/Bowen%202.png" alt="">
<div class="image-wrapper">Property Observer advise that it is up to you to determine if the offering is a truly beneficial bargain.</div>
<div class="image-wrapper">
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
As a part of this series, we've already had a look at properties in <a href="https://www.urban.com.au/expert-insights/buying/98408-bargain-property-at-mount-eliza-home-at-2-million-discount" target="_blank">Mount Eliza</a>, <a href="https://www.urban.com.au/expert-insights/buying/100193-bargain-property-in-central-geelong-sale-price-dips-after-one-year" target="_blank">Central Geelong</a>, <a href="https://www.urban.com.au/expert-insights/buying/99141-bargain-property-in-east-perth-near-new-apartment-makes-150-000-loss" target="_blank">East Perth</a> and <a href="https://www.urban.com.au/expert-insights/buying/101443-bargain-property-in-sydney-olympic-park-apartment-listed-at-180-000-value-discount" target="_blank">Sydney Olympic Park</a>.
</div>
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Bargain property in Bowen? Listing of duplex pair slashed by a third

<html><body>
There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
A South West Rocks, NSW home has just broken a decade on market and entered its eleventh year.
Currently listed for $690,000, the property was originally listed in April 2009 for $850,000, relecting a $160,000 reduction.
Ken Tassell of LJ Hooker is currently marketing the listing.
Situated at <a href="https://www.realestate.com.au/property-house-nsw-south+west+rocks-106533869" target="_blank">58 Ocean Street</a>, the property is a four bedroom, three bathroom house.
The two storey double brick abode is situated on a 730 sqm block.
It holds sweeping views over Trial Bay, South West Rocks, Smoky Cape and the ocean.
Featuring a second separate living area which has its own entrance and offers a fully equipped kitchen, dining area, lounge/rumpus room, bathroom and two bedrooms, the listing says, "this gives the flexibility of independence for visitors or family"
Last sold in 2003 the property transacted then for $720,000, more than double what it traded in 2000 for $325,000.
<img src="https://www.urban.com.au/images/2019/7/22/Rocks%20Bargain%202.png" alt="">
<div class="image-wrapper">Property Observer advise that it is up to you to determine if the offering is a truly beneficial bargain.</div>
<div class="image-wrapper">
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
As a part of this series, we've already had a look at properties in <a href="https://www.urban.com.au/expert-insights/buying/98408-bargain-property-at-mount-eliza-home-at-2-million-discount" target="_blank">Mount Eliza</a>, <a href="https://www.urban.com.au/expert-insights/buying/100193-bargain-property-in-central-geelong-sale-price-dips-after-one-year" target="_blank">Central Geelong</a>, <a href="https://www.urban.com.au/expert-insights/buying/99141-bargain-property-in-east-perth-near-new-apartment-makes-150-000-loss" target="_blank">East Perth</a> and <a href="https://www.urban.com.au/expert-insights/buying/101443-bargain-property-in-sydney-olympic-park-apartment-listed-at-180-000-value-discount" target="_blank">Sydney Olympic Park</a>.
</div>
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