No NSW listings on most discounted list as Queensland home takes top spot: SQM Research
There is a notable lack of Sydney properties in this week's SQM list of the most discounted properties in Australia.
Sydney may have escaped the recent downturn in the property market and is still showing strong demand, according to SQM director Louis Christopher.
"If there are certain areas of Australia that never or rarely make it to our most discounted property list, there has obviously got to be a little more than pure luck of the draw when it comes to these things," says Christoper.
"Yes, we note that of late there has been absolutely no properties from Sydney feature on the list. Beside this possibly being a no-brainer in some respects, as the demand in Sydney often assures that the majority of homes do not need to be discounted by massive amounts to make a sale (excluding the luxury end of the market), this potentially shows that the downturn in Sydney was not as severe or as pronounced in comparison to other Australian localities (once again excluding the luxury end of the market)," he says.
Sydney stock is also being absorbed faster than stock in other areas, according to Christopher, with the number of properties on the market falling 13.1% year-on-year.
There are three Queensland properties on the most discounted list, with the plurality (four) in Tasmania.
1
7 Cassidae Crescent, Tangalooma, Queensland, 4025 (pictured)
Days on the market: 1,399
Initial asking price: $1,495,000
Current asking price: $875,000
Reduction: 41%
2
5756 Arthur Highway, Taranna, Tasmania, 7180
Days on the market: 838
Initial asking price: $499,000
Current asking price: $299,000
Reduction: 40%
3
19 Lychee Drive, Caboolture, Queensland, 4510
Days on the market: 979
Initial asking price: $949,000
Current asking price: $586,000
Reduction: 38%
4
6/152 Mill Point Road, South Perth, WA, 6151
Days on the market: 308
Initial asking price: $2.5 million
Current asking price: $1.55 million
Reduction: 38%
5
276 Forest Hills Drive, Morayfield, Queensland, 4506
Days on market: 475
Initial asking price: $790,000
Current asking price: $499,000
Reduction: 37%
6
15 Gretel, Two Rocks, WA, 6037
Days on the market: 1,127
Initial asking price: $1.1 million
Current asking price: $699,000
Reduction: 36%
7
588 White Beach Road, White Beach, Tasmania, 7184
Days on the market: 979
Initial asking price: $780,000
Current asking price: $499,000
Reduction: 36%
8
368 Rheban Road, Spring Beach, Tasmania, 7190
Days on the market: 812
Initial asking price: $760,000
Current asking price: $500,000
Reduction: 34%
9
1601/8 Marmion Place, Docklands, VIC, 3008
Days on the market: 336
Initial asking price: $830,000
Current asking price: $550,000
Reduction: 34%
10
87 Arthur Highway, Dunalley, Tasmania, 7177
Days on market: 1,078
Initial asking price: $285,000
Current asking price: $190,000
Reduction: 33%
SQM Research also offers a list of the Top 100 Biggest Bargains in Australia for sale.