Queensland not featured on SQM most discounted list as Macleay Island property sells at last
Properties have been discounted by as much as 39% in SQM Research's latest list of the most discounted properties in Australia.
The list, usually dominated by Queensland, has properties from South Australia, NSW, WA and Tasmania.
The top discounted property was in Campania, Tasmania, with its current advertised price down $130,000 from the original asking price of $200,000.
Meanwhile, longstanding leader of the pack, 92 Beelong Street in Macleay Island, Queensland, has sold after 706 days. It eventually sold for $340,000 – 42% less than the original asking price of $590,000, which is what the vendor paid for the property in December 2007.
"This home was sold at a loss of at least $250,000, not to mention any interest accrued on the original mortgage! Indeed, the property itself is not situated in a particularly sought after location (Macleay Island) but a loss of this proportion is still notable and possibly devastating," says SQM managing director Louis Christopher.
"The original online advertisement mentioned that the mortgagee was Eddie McGuire for this property, in which case the desperation to sell regardless of the fetching price is perhaps better understood."
1
27 Reeve Street, Campania, Tasmania, 7026
On the market since: June 14, 2010
Initial asking price: $330,000
Current asking price: $200,000
Reduction: 39%
Days on market: 694
2
11 Pyrites Road, Brukunga, SA, 5252
On the market since: May 23, 2010
Initial asking price: $253,000
Current asking price: $155,000
Reduction: 39%
Days on market: 713
3
202 Wolstenholme Avenue, Greendale, NSW, 2745
On the market since: January 16, 2011
Initial asking price: $2,950,000
Current asking price: $1,850,000
Reduction: 37%
Days on market: 476
4
15 Gretel, Two Rocks, WA, 6037
On the market since: December 26, 2009
Initial asking price: $1,100,000
Current asking price: $699,000
Reduction: 36%
Days on market: 861
5
26a Paling Street, Thornleigh, NSW, 2120 (pictured)
On the market since: May 16, 2009
Initial asking price: $1,100,000
Current asking price: $700,000
Reduction: 36%
Days on market: 1,085
6
1302 Birkdale Pl, Magenta, NSW, 2261
On the market since: June 17, 2008
Initial asking price: $700,000
Current asking price: $450,000
Reduction: 36%
Days on market: 1,418
7
27 Light Avenue, Munno Para West, SA, 5115
On the market since: February 27, 2010
Initial asking price: $482,687
Current asking price: $319,000
Reduction: 34%
Days on market: 798
8
319 West Coast Drive, Trigg, WA, 6029
On the market since: May 28, 2011
Initial asking price: $4,500,000
Current asking price: $2,990,000
Reduction: 34%
Days on market: 343
9
22 Beach St, White Beach, Tasmania, 7184
On the market since: July 1, 2008
Initial asking price: $250,000
Current asking price: $170,000
Reduction: 32%
Days on market: 1,407
10
309 Scarborough Bch Rd, Woodlands, WA, 6018
On the market since: February 7, 2010
Initial asking price: $1.1 million
Current asking price: $750,000
Reduction: 32%
Days on market: 818