Discounted Properties

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Melbourne-based property developer Caydon are using Black Friday, a day in the calendar usually earmarked for retailers to drop prices, to offer discounts on 100 apartments across its portfolio.
Caydon said its Black Friday sale was not a response to the weak off the plan apartment market.
Buyers will have the opportunity from 6am on Friday to book an appointment for the weekend and to then process the paperwork before the end of the year.
Caydon have unsold off the plan apartment stock in Cremorne, Flemington, Ivanhoe, Northcote, Moonee Ponds and Preston. 
They are offering discounts on one, two and three bedroom apartments in their off the plan Moonee Ponds apartment development Rise (above and below)
The one bedders start from $384,000, two bedrooms from $577,000 and three bedrooms from $936,000.
<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/2018/11/22/Caydon2.jpg" alt="">
Buyers of the Rise Skyhomes will have exclusive use of The Conservatory, a private skyhigh bar and outdoor deck.
In the 29 level development there will also be a tranquil pool and spa known as Stonewater, and Club Rise, a fully appointed gym with dedicated yoga section.
Rise will also include a private skyhigh bar and 
Rise sits in Caydon's masterplanned Mason Square precinct.
Caydon's international marketing director Steve Williams said the company had seen turnover increase 25 percent above last year and revenue growth had been even higher.
He said the Black Friday sale was an innovative approach to marketing property.
“The property market has not traditionally recognised or followed seasonal spending habits in line with the consumer retail calendar, so the prospect of making significant savings in every price bracket for new apartments has been virtually non-existent until now,” Williams told The Australian.
Caydon chief executive Joe Russo said the Black Friday initiative would provide an opportunity for buyers, noting it had becoming increasingly challenging for first-home buyers, downsizers and investors. 
Caydon will cut prices in eight Melbourne projects including a $100,838 discount for a three-bedroom apartment at The Malt District development in Cremorne.
Its website shows a three-bedroom apartment in the development priced at around $1.24 million.
Caydon says 57 per cent of Australians are expected to make a retail purchase in a store or online this Friday.
Over the year to date, Melbourne apartment prices have declined 1.5 percent, according to CoreLogic.
Capital Economics suggest the declines could reach eight percent this year.
Its chief economist Paul Dales has noted "units look much more vulnerable than single dwellings, while Melbourne appears to be the most exposed of the eight capital cities."
 
 
 
 
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jchancellor-FAypfDUnLy

Caydon's Black Friday discount apartment gimmick

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An oversupply of apartments in Queensland, and particularly Brisbane, has made developers offer discounts to sell off old stock.
Many suburbs have seen negative growth in the last five years, as borne out by recent CoreLogic data.
Two such suburbs are West End and Cornubia, where prices are being discounted 14.1% and 15.9% on average (see table below).  
<table border="0"><tbody>
<tr>
<td> Suburb</td>
<td> Vendor discount(%)</td>
</tr>
<tr>
<td> Berserker </td>
<td> -11.4</td>
</tr>
<tr>
<td> Coral Cove</td>
<td> -12</td>
</tr>
<tr>
<td> Cornubia</td>
<td> -15.9</td>
</tr>
<tr>
<td> Earlville</td>
<td> -11.2</td>
</tr>
<tr>
<td> Emerald</td>
<td> -11.7</td>
</tr>
<tr>
<td> Harristown</td>
<td> -11.1</td>
</tr>
<tr>
<td> Kirwan</td>
<td> -10.8</td>
</tr>
<tr>
<td> Mackay</td>
<td> -12.9</td>
</tr>
<tr>
<td> Manunda </td>
<td> -10.7</td>
</tr>
<tr>
<td> Mount Gravatt</td>
<td> -10</td>
</tr>
<tr>
<td> Mount Lofty</td>
<td> -13.6</td>
</tr>
<tr>
<td> Point Lookout</td>
<td> -11.9</td>
</tr>
<tr>
<td> Rainbow Beach</td>
<td> -10.1</td>
</tr>
<tr>
<td> Rockhampton City</td>
<td> -12</td>
</tr>
<tr>
<td> Rosslea</td>
<td> -12.7</td>
</tr>
<tr>
<td> West End</td>
<td> -14.1</td>
</tr>
</tbody></table>
A two-bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-qld-west+end-125457566" target="_blank">9/6-24 Henry Street</a> in West End sold in August 2017 for $215,000. It had sold for $320,000 in 2009, the year it was built, according to CoreLogic RP Data.
<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/2017/11/30/WestEnd1.jpg" alt="">
Its on the market history shows that it was on sale for 442 days from November 2013 to January 2015 on a listed price of $289,000. Previous to that, it was on the market briefly in April 2012 for $299,000.
A three-bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-qld-west+end-123095714" target="_blank">38/6-24 Henry Street, West End</a> (picture above) sold in November 2016 for $315,000. It previously sold for $360,000 in June 2008, according to CoreLogic RP Data.
At <a href="https://www.realestate.com.au/property-apartment-qld-west+end-126445334" target="_blank">15 Bank Street West End</a>, a three-bedroom apartment spanning 270 square metre in The Aston Residences has a $50,000 furniture package on offer. Also included is interior-design consultation.
Not only that, developers are also offering rental guarantees to sell off unsold stock.
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jonathanchancellor-7SQnKwU6yx

Westend and Cornibia lead Brisbane locations where buyers find the biggest vendor discounts

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A bayside two bedroom cottage in the Tasmanian suburb of White Beach has been included in SQM Research's Top Ten Most Discounted Properties Nationwide list.
The property, at <a href="https://www.domain.com.au/for-sale/41-white-beach-road-white-beach-tas-7184-2011315254" target="_blank">41 White Beach Road</a>, is built on 1067sqm of land and is for sale through local Raine &amp; Horne agents at an asking price of $159,000.
<img src="/images/2015/08/19/tas2.jpg" alt="">
Louis Christopher from SQM Research said Since making its market debut back in October 2010, the property has been reduced from $219,000 - $239,000 to just $159,000, a total savings of $60,000.
"It might be ranked number ten, however, it has now taken over with the longest days on the market, soon followed by 2 Rankine Street, Strathalybn."
<a href="/images/2015/08/19/Screen%20Shot%202015-08-19%20at%2011.03.51%20AM.png">Click to enlarge</a>
<img src="/images/2015/08/19/Screen%20Shot%202015-08-19%20at%2011.03.51%20AM.png" alt="">
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mick.cee-iDmgDDAmu8

Bayside Tasmanian cottage makes SQM's most discounted list 

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Two new properties have appeared on SQM Research's top ten most discounted properties nationwide list - one in South Australia and the other in Queensland.
A four bedroom with ocean views at 2 Joy Street in Encounter Bay, South Australia is currently on the market for between $425,000-$450,000and  was first listed with an asking price of between $650,000 and $695,000 in July 2014 (below).
<img src="/images/2015/08/11/sa.jpg" alt="">
 
The second property, a waterfront three bedroom unit overlooking Cylinder Beach at Point Lookout, Queensland, has been on the market since 2013 and, according to SQM, appears just above what potential investors will pay for the size and area.
3/118 Mooloomba Road (below) has been on the market for a total of 938 days and since first listed has had the price deducted by a total of 32%, or $565,000.
<img src="/images/2015/08/11/Screen%20Shot%202015-08-11%20at%205.28.05%20PM.png" alt="" width="814" height="541">
The unit has a verandah with uninterrupted beachfront views, a master bedroom with ensuite and walk-in robe and is in a highly popular holiday rental area.
<a href="/images/2015/08/11/Screen%20Shot%202015-08-11%20at%205.26.13%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/11/Screen%20Shot%202015-08-11%20at%205.26.13%20PM.png" alt="">
 
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