Regional areas dominate SQM's top 10 discount list
Vendors in rural and regional areas are having to offer much deeper discounts than their city cousins in order to sell their properties, according to SQM Research.
In releasing SQM's weekly top 10 most discounted properties list, SQM director Louis Christopher notes that many of the regions represented are areas of low population density. Regions include Macleay Island, off the coast of Queensland, and several properties on the NSW Central Coast.
"Many of these homes are located in what SQM Research would regard as relatively unpopulated regions (compared to inner-ring/capital city areas)," Christopher says.
"The demand for such homes therefore, tends to be significantly lower than for those in more highly populated or centralised locations, which can potentially provide some form of explanation as to why there tends to be larger discounts in these regions."
1
588 White Beach Road, White Beach, Tasmania, 7184
On the market since: May 23, 2010
Initial asking price: $780,000
Current asking price: $400,000
Reduction: 49%
Days on market: 539
2
92 Beelong Street, Macleay Island, Queensland, 4184
On the market since: May 23, 2010
Initial asking price: $590,000
Current asking price: $340,000
Reduction: 42%
Days on market: 538
3
102 Fountain Road, Burpengary, Queensland, 4505
On the market since: April 17, 2011
Initial asking price: $1.2 million
Current asking price: $699,000
Reduction: 42%
Days on market: 211
4
3 Boolari Road, Gosford West, NSW, 2250
On the market since: July 8, 2009
Initial asking price: $990,000
Current asking price: $580,000
Reduction: 41%
Days on market: 857
5
329 Waterford Road, Ellen Grove, Queensland, 4078
On the market since: October 16, 2010
Initial asking price: $1,275,000
Current asking price: $800,000
Reduction: 37%
Days on market: 392
6
2/18 Campbell Crescent, Terrigal, NSW, 2260 (pictured)
On the market since: December 11, 2010
Initial asking price: $1.99 million
Current asking price: $1.25 million
Reduction: 37%
Days on market: 336
7
25 Vicary Street, Triabunna, Tasmania, 7190
On the market since: August 2, 2010
Initial asking price: $299,000
Current asking price: $189,000
Reduction: 37%
Days on market: 470
8
290 Viveash Road, Swan View, WA, 6056
On the market since: June 5, 2008
Initial asking price: $2.29 million
Current asking price: $1.45 million
Reduction: 37%
Days on market: 1,257
9
146 Maddington Road, Maddington, WA, 6109
On the market since: April 30, 2011
Initial asking price: $5.5 million
Current asking price: $3.5 million
Reduction: 36%
Days on market: 196
10
1302 Birkdale Place, Magenta, NSW, 2261
On the market since: June 17, 2008
Initial asking price: $700,000
Current asking price: $450,000
Reduction: 36%
Days on market: 1,243
SQM Research also offers a list of the Top 100 Biggest Bargains in Australia for sale.