Kilmore takes top spot for distressed house offerings in Victoria: Investar

Kilmore takes top spot for distressed house offerings in Victoria: Investar
Kilmore takes top spot for distressed house offerings in Victoria: Investar

Kilmore is ranked the Victorian location with a highest number of distressed house offerings, according to Investar’s latest market report. 

Around half its listings are being offered at a discount or distressed price.

Curlewis and Cranbourne also had high discount levels among its listings.

The median house price at Kilmore is $333,000. Houses are being typically rented at a $340 median weekly rent.

Houses are averaging 110 days on the market before being sold.

Suburb

Postcode

Dwelling type

Bedrooms

% of listings

Kilmore

3764

House

4

51%

Curlewis

3222

House

4

43%

Cranbourne

3977

House

2

41%

Wallan

3756

House

4

40%

Coronet Bay

3984

House

3

31%

 

 

 

 

The list was produced using sales listing data including distressed sale condition keyword analysis.

It identified listings with one or more keywords that would indicate an increased level of seller motivation and calculated this as a percentage of total listings on the market.

It is designed to identify suburbs with the highest percentage of potentially distressed price stock based on the descriptions used by agents and vendors.

The category also included price reduction activity.

A currently tenanted house at 4 Blackduck Crossing (above) had its price reduced several time until its recent $290,000 sale. 

It had been dropped to a $300,000 asking price from $310,000 having been listed in February at $335,000.

It last sold in 2010 at $293,000. 

 

Tags: 
Victoria Investar

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