The 10 most discounted properties in Australia at June 1

The 10 most discounted properties in Australia at June 1
The 10 most discounted properties in Australia at June 1

Sydney and Melbourne are noticeably absent from the most recent nationwide list of the country's most discounted suburbs and have had minimal presence in recent weeks.

We think to a certain extent that this reflects SQM Research's initial forecast for 2011, that the state of Queensland is set to suffer a little more than the others, and is already showing declines on a larger scale comparatively. With three properties in the top end of our list with discounts in the percentage range of 37% to 43%, Queensland is taking the lead so to speak where the slashing of prices is concerned.

Of course this is suburb-specific, and not all areas are suffering similarly, but the regions that are being hit this year are being hit hard.

 

1

 1350 Wynnum Road, Tingalpa, 4173

On the market since: November 6, 2010

Initial asking price: $700,000

Current asking price: $400,000

Reduction: 43%

Days on market: 196

 

2

1/21 Ocean Drive, Coogee, 6166

On the market since: May 23, 2010 

Initial asking price: $2,700,000

Current asking price: $1,600,000

Reduction: 41%

Days on market: 364

 

3

12 Mcclure Road, Upper Caboolture, 4510

On the market since: December 26, 2009

Initial asking price: $1,600,000

Current asking price: $999,500

Reduction: 38%

Days on market: 511

 

4

16/153 Kensington Street, East Perth, 6004

On the market since: August 21, 2010

Initial asking price: $845,000

Current asking price: $529,000

Reduction: 37%

Days on market: 273

 

5

232-234 High Central Road, Macleay Island, 4184

On the market since: January 11, 2009

Initial asking price: $279,000

Current asking price: $175,000

Reduction: 37%

Days on market: 861

 

6

25 Vicary Street, Triabunna, 7190

On the market since: August 2, 2010

Initial asking price: $299,000

Current asking price: $189,000

Reduction: 37%

Days on market: 294

 

7

128/151 Adelaide Terrace, East Perth, 6004

On the market since: May 18, 2009 

Initial asking price: $1,250,000

Current asking price: $799,000

Reduction: 36%

Days on market: 735

 

8

290 Viveash Road, Swan View, 6056

On the market since: June 5, 2008

Initial asking price: $2,290,000

Current asking price: $1,500,000

Reduction: 34%

Days on market: 1082

 

9

3 Boolari Road, Gosford West, 2250

On the market since: July 8, 2009

Initial asking price: $990,000

Current asking price: $650,000

Reduction: 34%

Days on market: 682

 

10

1/16 Dewar, Ledge Point, 6043

On the market since: November 15, 2009

Initial asking price: $375,000

Current asking price: $250,000

Reduction: 33%

Days on market: 552

Louis Christopher is the managing director of SQM Research. More information on discounted properties can be found in the free SQM weekly newsletter or on the SQM Research website.

Louis Christopher

Louis Christopher

Louis Christopher is the director of research house SQM Research.

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