The 10 most discounted homes in Australia: SQM Research
Overpriced, or undervalued? Despite suffering the biggest price cuts in the country, some homes just won't sell.
SQM Research has gathered the 10 most heavily discounted homes in the country.
38 Considine Street, Ellen Grove, Queensland
38 Considine Street has the dubious honour of retaining top place on the discounted list this week.
The brick house on a 1.57 hectare flat block has been on the market for 253 days now, despite a 43% price cut.
It was initially listed at $1.4 million and now has a $799,000 price tag.292 Carabooda Road, Carabooda, Western Australia
Making its debut on the discount list, this 7.1 hectare farm has seen its price lopped by 37% from $1.65 million to $1,032,000.
A three bedroom cottage sits on the property, with a big double garage, with water supplied by an on-property bore.
In its listing, selling agent Thomas Massam of Harcourts Alliance Joondalup suggests buyers could grow fruit and veggies on the property, or "build a tennis court".2 Wellington Street, Richmond, Tasmania
The historic Mill House in Richmond, Tasmania, sits along the convict-built Richmond Bridge. It seems vendors overestimated market demand by a clean million, with the price tag dropping 36% from $2.8 million to $1.8 million.
The estate's main house includes four bedrooms and bathrooms, a formal living and dining area, sunroom and cellar. The listing agent advises that the house has a "convict brick feature wall", a formal living and dining area, sunroom and cellar.
The vendors, who according to the listing information have experienced a "change of circumstances" which have "significantly increased [their] motivation", are also open to selling the adjoining plot.219 Bernard Road North Carabooda, West Australia
This rural property has been discounted by 35%, with its asking price now $2,272,000, down from $3.5 million. The Bernard Road farming property shares a listing agent with its Carabooda cousin on the list, the heavily discounted 292 Carabooda Road.
Set on 15 hectares of farm land, the property has a 36,000 kilolitre water license. The dual lot property features a brick and tile home and farm sheds on one plot, and a "home in disrepair" on another.76 Tinderry Road, Michelago, New South Wales
On the market for 988 days, this rural property near Canberra has had its price cut from $1.9 million to $1.25 million. The Michaelago creek supplies water to the property, with two dams on the land. An original 1925-era home, requiring significant renovations, stands on the property.
The listing information states: "The property is ideally suited to run livestock with some areas having had some pasture improvement in previous years, although this was some time ago and would likely need to be revisited."1 Princess Road, Doubleview, West Australia
This property in Perth’s Doubleview has been discounted by 33%, with its price now at $1.8 million (down from $2.7 million). Advertised as having subdivision potential, the current cottage and granny flat on the plot are described as “very rentable during the development phase” in the listing information.
The vendors purchased the 1,412 square metre plot 1 Princess Road for $150,000 in 1990, hoping now to secure more than 10 times what they paid.
21 Cotton Court, Strathalbyn, South Australia
After a 32% price cut, the owners of this Strathalbyn home are now seeking $339,000. The house has been on the market for nearly three years. It was purchased by the owners for $118,000 in 1995.
1/23 Albuera Street, Battery Point, Tasmania
The former Albuera Art School now houses this luxury renovated apartment, priced at $1.5 million.
It's been on the market for more than two and a half years, with an initial asking price of $2.2 million. The three bedroom apartment has a combination of heritage and new features, with polished timber floors and pressed metal ceilings.99 Green Point Drive, Green Point, New South Wales
This contemporary New South Wales home is a discount list staple. After 1,381 days on the market (more than three and a half years) and a 31% price cut, it still hasn't secured a buyer. The home on the Central Coast was originally listed at $1.15 million but vendors are now asking for $795,000.
Originally designed as a bed and breakfast, the lakefront home now functions as a hair salon.53 Kalinda Road, Bar Point, New South Wales
A two cabin offering set above a waterfront reserve on the Hawkesbury River has been on the market for 591 days.
The steep property houses one two bedroom cabin with a kitchen and living area, and another with a bedroom and bathroom. Its asking price has dropped 30%, from $280,000 to $195,000.