Southbank luxury apartments on SQM's most discounted list
Two Southbank listings have made it onto SQM Research's Top 10 Most Discounted Properties list.
The list remains quite steady from last week, but for the new entrant in Melbourne's Southbank precinct. It’s in the Yarra Condos building, which is close to the Arts Centre, Southgate restaurants and shops.
The 10th place property is a $1.1 million Kavanagh Street, Southbank offering. SQM notes it been on the market since September 2010 when it was listed with unrealised $1,565,000 hopes. It represents a 30% decline in expectation for the three-bedroom unit with Botanic Gardens and bay views.
Number nine on the list, 2506/83 Queensbridge Street, Southbank, has been discounted by 30% to $1.5 million plus. This property is some $600,000 less that the vendor's original asking price last October. Ideally the vendor will take $1.65 million.
The week's list is topped by 588 White Beach Road, White Beach in Tasmania.
Discounts in other suburbs are available with a SQM Research Home Discounts Report detailing all the properties that have been on the market for a period of over 60 days.
1
588 White Beach Road, White Beach, Tasmania, 7184
On the market since: May 23, 2010
Initial asking price: $780,000
Current asking price: $400,000
Reduction: 49%
Days on market: 441
2
1350 Wynnum Road, Tingalpa, Queensland, 4173
On the market since: November 6, 2010
Initial asking price: $700,000
Current asking price: $380,000
Reduction: 46%
Days on market: 273
3
3 Boolari Road, Gosford West, NSW, 2250
On the market since: July 8, 2009
Initial asking price: $990,000
Current asking price: $580,000
Reduction: 41%
Days on market: 759
4
1/21 Ocean Drive, Coogee, WA, 6166
On the market since: May 23, 2010
Initial asking price: $2.7 million
Current asking price: $1.6 million
Reduction: 41%
Days on market: 441
5
25 Vicary Street, Triabunna, Tasmania, 7190
On the market since: August 2, 2010
Initial asking price: $299,000
Current asking price: $189,000
Reduction: 37%
Days on market: 371
6
3 Zelma Court, Macleay Island, Queensland, 4184
On the market since: May 23, 2010
Initial asking price: $380,000
Current asking price: $250,000
Reduction: 34%
Days on market: 440
7
1/16 Dewar Way, Ledge Point, 6043
On the market since: November 15, 2009
Initial asking price: $375,000
Current asking price: $250,000
Reduction: 33%
Days on market: 629
8
102 Countryside Drive, Two Rocks, WA, 6037
On the market since: June 5, 2010
Initial asking price: $855,000
Current asking price: $570,000
Reduction: 33%
Days on market: 427
9
2506/83 Queensbridge Street, Southbank, VIC, 3006
On the market since: October 31, 2010
Initial asking price: $2.15 million
Current asking price: $1.5 million
Reduction: 30%
Days on market: 280
10
195/38 Kavanagh Street, Southbank, VIC, 3006
On the market since: September 11, 2010
Initial asking price: $1,565,000
Current asking price: $1.1 million
Reduction: 30%
Days on market: 329
SQM Research also offers a list of the Top 100 Biggest Bargains in Australia for sale.
