Secret Harbour, WA residential mortgagee land sold for half previous sale price

A Secret Harbour, WA residential mortgagee land holding has sold for $395,000.

The holding last sold for $870,000 in 2015.

As a result this sale marks a loss in value of $475,000.

Lee Murray of Acton Rockingham marketed the property.

Situated at 66 Cottesloe Crescent (picture is artists impression), The plot is 2,431 sqm.

The development site is described in the listing as a "jumbo housing block."

The median sale price for a home in Secret Harbour is $425,000, according to the latest CoreLogic data.