Moreton Island home tops Australia's 10 most discounted properties: SQM
A five-bedroom holiday home in Tangalooma Queensland tops the list of the nation's most discounted property with a price slash of 41% over four years, according to SQM Research.
Located in the Bay View Estate of Tangalooma Island Resort on Moreton Island, the property was first listed in March 2009 for $1,495,000.
It is currently listed by Paul Hagedorn from Ray White Moreton Island for $875,000 and has spent over 1,400 days on the market.
The home (pictured below) features two bathrooms, two living areas, a media room and a rooftop deck.
Hagedorn says the original asking price in 2009 was at the top end of the market, and like every owner, the vendors wanted the highest achievable price.
Hagedorn says there is currently a very low demand for holiday let properties and therefore a number of properties have been reduced in price.
He says the 41% price slash is purely a reflection of the market.
“I have never seen prices reduced so much and I’ve been in the industry for over 40 years.
“The market is right at the bottom end,” says Hagedorn.
The current owners built the home around eight years ago.
The property comes with a sub lease to Tangalooma Resort.
Victoria is the only state not represented in the list.
Until recently, 65 Felstead Ave, Sunshine 3020 had featured in the list, but the three-bedroom home (pictured below) has recently gone under contract.
The top ten most discounted properties nationwide are as follows:
1
7 Cassidae Crescent, Tangalooma, 4025
Current asking price: $875,000
Reduction: 41%
2
5756 Arthur Highway, Taranna, 7180
Current asking price: $299,000
Reduction: 40%
3
1/1 Freeman Loop, North Fremantle, 6159
Current asking price: $2,795,000
Reduction: 38%
4
19 Lychee Drive, Caboolture, 4510
Current asking price: $598,000
Reduction: 37%
5
Current asking price: $699,000
Reduction: 36%
6
19 Cliff Terrace, Macleay Island, 4184
Current asking price: $385,000
Reduction: 36%
7
368 Rheban Road, Spring Beach, 7190
Current asking price: $500,000
Reduction: 34%
8
Current asking price: $245,000
Reduction: 34%
9
161 Central Avenue, Mount Lawley, 6050
Current asking price: $875,000
Reduction: 32%
10
2/106 Avoca Drive, Avoca Beach, 2251
