The 10 most heavily discounted homes in Australia
Despite months on the market and huge price cuts, these properties just won’t budge.
These 10 properties are the most heavily discounted in the country, according to SQM Research.
38 Considine Street, Ellen Grove, Queensland
The owners of this 1.57 hectare flat block with a brick house have lopped its price by 43%, this biggest house price cut of any home currently on the market.
After 245 days on the market and a new $799,000 asking price, down from $1,400,000, the property is still for sale. A half hour’s drive from the Brisbane CBD, the property is being advertised on its development potential.2 Wellington Street, Richmond, Tasmania
Richmond’s Mill House, sitting alongside the convict-built Richmond bridge, has seen its asking price cut by $1 million, down from $2,800,000 to $1,800,000.
The historic property has a four bedroom, four bathroom main residence, with a formal living and dining area, sunroom and cellar.
There is also a self-contained cottage on the property, and the vendors are open to selling the adjoining plot. According to the listing information, “A change of circumstances has significantly increased the motivation of the Vendors of this magnificent Country Retreat [sic]”.219 Bernard Road North Carabooda, West Australia
A newcomer to SQM’s list, this rural property has been discounted by 35%, with its asking price now $2,272,000, down from $3,500,000. It’s been on the market for 321 days.
SQM notes the property is an “acquired taste,” writing that “this home would perhaps struggle to find buyer interest outside of those interested in the rural/farming market, narrowing down the vendor's target market immensely”.
According to its listing information, the property is located four or five kilometres from the “future CBD of Alkimos”.76 Tinderry Road, Michelago, New South Wales
Another rural property that won’t budge, this 710 hectare plot has been on the property for more than three and a half years, and has been discounted by 34%.
The property, located near Michelago village, is within a half hour’s drive of Canberra’s suburbs. Permanent water is supplied to the property by the Michelago creek, with two dams on the land.
The original 1925-era home still stands on the property and requires significant renovations.1 Princess Road, Doubleview, West Australia
Advertised as a four lot subdivision opportunity, this property in Perth’s Doubleview has been discounted by 33%. On the market for 91 days, the cottage and granny flat on the plot are advertised as “very rentable during the development phase”.
They sit on a 1,412 square metre plot. The vendors purchased 1 Princess Road for $150,000 in 1990. They are hoping to secure more than 10 times what they paid for the property, with an asking price of $1,800,000.21 Cotton Court, Strathalbyn, South Australia
This home in the South Australian town of Strathalbyn is listed at $339,000, 32% down from its initial $498,000 asking price.
21 Cotton Court has been on the market for almost three years. The 1900s style house was purchased by the current vendors for $118,000 in 1995. It’s the only South Australian home on the top 10 list.1/23 Albuera Street, Battery Point, Tasmania
This luxury renovated apartment offering in Hobart is situated in the former Albuera Art School.
Vendors are seeking offers over $1,500,000, while its initial asking price, 986 days ago, was $2,200,000. The property has three double bedrooms, with polished timber floors throughout and pressed metal ceilings.99 Green Point Drive, Green Point, New South Wales
A contemporary home in the New South Wales Central Coast has been discounted by 31% after more than 1,373 on the market.
Listed for more than two and a half years, it’s been on the market longer than any other property currently listed in Australia.
It has four bedrooms, with an en suite with spa attached to the master bedroom. There is also an outdoor covered spa at the back of the property.53 Kalinda Road, Bar Point, New South Wales
The price of this two cabin property set above a waterfront reserve on the banks of the Hawkesbury River was cut from $280,000 to $195,000, a 30% drop.
It’s been on the market for 581 days. Advertised as a “great weekender”, the first cabin has two bedrooms, a kitchen and living area, while the other has a bedroom and bathroom.
There is also the opportunity to take up a license for a jetty on the property, though there isn’t a ramp and pontoon currently installed.4/14 Spring Street, Box Hill, Victoria
This one bedroom apartment, advertised as student accommodation, is on the market for $160,500. When it was first listed 154 days ago, it was advertised at $230,000.
Next door to the Box Hill Hospital, the apartment is within walking distance of Box Hill’s shopping centres, public transport and the Box Hill Institute.
If vendors sell at its current asking price, they will be making a loss – they bought the apartment for $173,000 in 2007.