Kochie's right - stay away from the Gold and Sunshine coasts: SQM director Louis Christopher
SQM research director Louis Christopher says he agrees with TV presenter David Koch's dire assessment of the Gold and Sunshine coast markets and points out that three of the top four most discounted homes in Australia are in Queensland.
Christopher recalls that like Kochie, he also came under fire from local agents and media for his gloomy assessment of the Queensland market last year.
"Although this bleak forecast may have angered certain industry groups, it has indeed come to pass and Queensland – more specifically the Gold Coast and Sunshine Coast – have posted dramatic house price falls," Christopher says.
"David Koch from network 7's Sunrise also appears to have irritated some real estate agents and journalists recently by sharing a similar view to ours on the state of the Queensland market."
Kochie recently hit back at his critics, saying he was right to call the Gold and Sunshine coasts "catastrophic" for property investors and called into question the integrity of those who opposed him.
“In any survey of trustworthiness real estate agents and journalists always appear at the bottom of the list," he said.
1
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: 608
2
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: 281
3
27 Reeve Street, Campania, Tasmania, 7026
On the market since: June 14, 2010
Initial asking price: $330,000
Current asking price: $200,000
Reduction: 39%
Days on market: 589
4
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: 462
5
22 Fenton Avenue, Christies Beach, SA, 5165 (pictured)
On the market since: March 6, 2010
Initial asking price: $1,195,000
Current asking price: $750,000
Reduction: 37%
Days on market: 686
6
2/18 Campbell Crescent, Terrigal, NSW, 2260
On the market since: December 11, 2010
Initial asking price: $1.99 million
Current asking price: $1.25 million
Reduction: 37%
Days on market: 406
7
211 Jetty Road, Eaglehawk Neck, Tasmania, 7179
On the market since: November 14, 2010
Initial asking price: $595,000
Current asking price: $375,000
Reduction: 37%
Days on market: 434
8
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: 540
9
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: 1,327
10
15 Gretel, Two Rocks, WA, 6037
On the market since: December 26, 2009
Initial asking price: $1.1 million
Current asking price: $699,000
Reduction: 36%
Days on market: 756
SQM Research also offers a list of the Top 100 Biggest Bargains in Australia for sale.