Northam, WA mortgagee home sold for half price
A Northam, West Australia mortgagee house has sold for $151,000.
The sale represents a loss of $143,000 compared to the previous sale price, a near 50% reduction in value.
Jessica Clark of Bob Davey Real Estate marketed the property.
Situated at 18 Selby Street, the abode consists of a three bedroom one bathroom house.
Set on 1,175 sqm, the home comprises 109 sqm on internal space.
Last sold in 2014, the house transacted for $298,000.
The asking price for the property was originally $210,000 when the property was listed in February 2019 but in April it was reduced to $179,000 and in May it was slashed again to $150,000.
The 1935 built house previously sold in 2012 for $205,000
The median price for a house in Northam is $222,500 according to CoreLogic, which calculate its annual change in median price over the past 10 years as 0%.