Discounted Property

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A Sydney property first listed above $1 million in August 2015 has popped back on the market with an overall reduction of $325,000, according to SQM Research.
SQM Research's top 10 most discounted properties list noted a new entrant to the list, <a href="https://www.realestate.com.au/property-house-nsw-georges+hall-120488325" target="_blank">14 Endeavour Road, Georges Hall</a>, was first listed in August 2015 accepting offers million and is now back on the market for $875,000.
Six of the ten entries are priced under $430,000.
SQM Research managing director Louis Christopher said the two bedroom home is set on a large 1195 sqm block with the opportunity to knock down, rent, renovate, and or live in and the property appears to be in a good living condition thanks to the current owners recent renovations.
"These renovations include new timber floors and modifications to both the kitchen and main bathroom," he said.
"The listing states that the property features a storage shed and garage, in addition to a large teenage retreat/office area in the rear of the block.
The vendor states that the property is located in a 'prime' location. The property is located approximately 27 km outside of Sydney CBD, and only a short walk away from local Schools, parks, shops and transport." 
<a href="/images/2016/02/05/Screen%20Shot%202016-02-05%20at%201.26.58%20PM.png" target="_blank" style="line-height: 1.3em;">Click to enlarge</a>
<img src="/images/2016/02/05/Screen%20Shot%202016-02-05%20at%201.26.58%20PM.png" alt="">
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First home buyer cheapies on the SQM top 10 most discounted list

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A weatherboard five bedroom house with a wood burning stove in Smith's Lake on the NSW mid north coast is SQM Research's discounted property of the week.
The property, 1 Ansett Ave, Smiths Lake, NSW, is on the market currently for $479,000.
SQM Research managing director Louis Christopher said the property has been on the market since the 9th of January this year and since then the vendor has dropped the price from $495,000 to $479,000, a total reduction of $16,000.
"The vendor suggests that this property could easily cater for two to three families. Whatever the reason, this property is definitely a bargain," he said.
"Flashy extra's include the recently renovated kitchen, fitted with a wood burning stove, separate artists studio and french doors opening up onto a large sunny entertainers quarter."
 
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Weatherboard five bedder SQM's discounted property of the week

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A property in Sandy Bay Tasmania is the most distressed property of the week, according to SQM Research.
The home, <a href="https://www.realestate.com.au/property-house-tas-sandy+bay-119247155" target="_blank" style="line-height: 1.3em;">493 Churchill Avenue</a>, was placed on the market back in March with an asking price of $570,000. Since then the vendor has slashed the price to $540,000, a total reduction of $30,000.
SQM Research managing director Louis Christopher said the property consists of four bedrooms, two bathrooms and accommodation for up to two vehicles.
"The vendor says that the fourth bedroom and second bathroom are located downstairs with its very own entrance and abundance of space that could be potentially converted into self contained accommodation," he said. 
"The property features modern timber floorboards, fresh white walls and plenty of natural lighting. The brand new modern kitchen and verendah out the back give this property its additional knockout touch. 
"The property is located approximately 6 km away from Hobart CBD, and is within a short driving distance from local Sandy Bay shops, transport, cafes and schools."
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Sandy Bay Tasmania home SQM's most distressed 

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A key property in SQM Research's latest top ten most discounted national properties is a 2 bedroom home on 585 square metres in Oberon, currently on the market for $149,000.
Oberon, on the New South Wales central tablelands, is chiefly known for farming and forestry. The property, located at 118 Queen St, has been discounted 50% down from the initial asking price of $299,000 after 929 days on the market.
The most heavily discounted property is in Queenlsland's Ranelagh, with a 50% reduction in asking price from the initial $2 million following 859 days on the market
According to SQM Research managing director Louis Christopher the two Carabooda residences (numbers 5 and 6 below) have a lot more in common then their postcodes. 
"Both properties jumped onto the market back in early August 2013, both are rural estates with plenty of acreage and commercial opportunity, and more recently both have been reduced down to a flat million," Mr Christopher said.
"Just last month, 219 Bernard Road dropped from $2,272,000 to $2 million, a total reduction of $272,000. The property had previously been on the market at $2,272,000 for just under two years. Prior to this the vendor had reduced the asking price down from $million. Currently the total reduction of this property is at high $1.5 million.
"On the smaller side, the vendor of 292 Carabooda Road has knocked down the price from $1,032,000 to $1 million within the last week. The property had been sitting at just over $1 million for just over a year now. Back in September 2013 the vendor dropped the price from $1,390,000 to $1,032,000, and before that from a whopping $1,650,000. The most recent reduction of $30,0000 appears somewhat modest compared to prior price reductions, this suggests that the owners have come a standstill and wont get much lower than this. "
 
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<a href="/images/2015/07/29/Screen%20Shot%202015-07-29%20at%201.38.47%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/29/Screen%20Shot%202015-07-29%20at%201.38.47%20PM.png" alt="">
 
Louis Christopher is managing director of SQM Research and can be contacted <a href="https://www.sqmresearch.com.au" target="_blank">here</a>.
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