Mortgagee's sell Western Australia home at big loss

A three bedroom home in Stratton, east of Perth, has been sold by the mortgagee in possession for $265,000.

The home, built in 2000, has gone back over $100,000 in two years.

It last traded for $369,000 in 2016. Before that it sold for $315,000 in 2012.

This time round it initially sought $315,000, before its price was reduced incrimentally to $275,000.

Set on 490 sqm, the 120 sqm home at 7 Chungking Grove has three bedrooms, two bathrooms and a full length gable roof patio.

Jim McConnell and Aneta Anthony at Ray White Bursmac sold the home after 160 days.

The suburb's median house price sits on $330,000 according to CoreLogic.