A sale and a withdrawal make room for two new properties on SQM's most discounted list
The sale of one property and the withdrawal from the market of a second have made way for two new entrants onto SQM Research's top 10 most discounted properties list.
The property at 102 Fountain Road, Burpengary has been withdrawn from the market unsold. It made its debut in the number-three spot on SQM's most discounted properties list in September 2011, when its price hopes were cut from $1.2 million to $600,000.
SQM Research director Louis Christopher noted at the time that it made its debut with a discount of over $500,000 in the space of five months.
"The vendors of this property, which was a former horse stud, featuring attributes such as an in-ground pool, ducted air-conditioning, stables and feed shed, billiard room with built-in bar and 1.5kw solar panels, are most likely struggling to find a suitable buyer for a home with such niche characteristics,” Christopher said.
The property has now been withdrawn from sale after being marketed by Coronis Real Estate agents since April 2011. Most recent listing agent Mark Pickles says the vendors were unwilling to discount the property any further and were unable to secure a buyer.
The number nine and 10 spots are now taken up by two hinterland properties, 13 Hawcroft Place in the WA town of Lancelin and 1302 Birkdale Place in Magenta, on the NSW central coast.
The Magenta property has featured on SQM's list of properties that have been on the market the longest, appearing at number seven on in August 2011. At the time the property's price hopes had been reduced from an initial $700,000 to $500,000, a reduction of 29%. It had been on the market 1,131 days.
In November 2011 its price hopes were slashed again to $450,000, or a 36% discount. It is currently offered at $450,000, and it has been on the market more than three years.
1
60 Treasure Island Avenue, Karragarra Island, Queensland, 4184
On the market since: October 3, 2010
Initial asking price: $349,000
Current asking price: $185,000
Reduction: 47%
Days on market: 496
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: 629
3
121 Treasure Island Avenue, Karragarra Island, Queensland, 4184
On the market since: October 23, 2010
Initial asking price: $335,000
Current asking price: $200,000
Reduction: 40%
Days on market: 476
4
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: 609
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: 483
6
22 Fenton Avenue, Christies Beach, SA, 5165
On the market since: March 6, 2010
Initial asking price: $1,195,000
Current asking price: $750,000
Reduction: 37%
Days on market: 707
7
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: 1,348
8
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: 777
9
13 Hawcroft Place, Lancelin, WA, 6044 (pictured)
On the market since: April 30, 2011
Initial asking price: $1.49 million
Current asking price: $949,000
Reduction: 36%
Days on market: 287
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: 1,334
SQM Research also offers a list of the Top 100 Biggest Bargains in Australia for sale.