An "exodus of residents" to cause price declines in ACT: SQM

Properties in the ACT are forecast to experience greater discounts in the next six to 12 months, as a result of government jobs been slashed and an “exodus of residents,” says SQM Research.

SQM says the top ten most discounted properties in the ACT are relatively low when compared to other states, but the prediction of house price declines in 2014 will not be a direct reflection of the current market.

The most discounted property on SQM’s list is 8/43 Gardiner Street in the suburb of Downer, which slashed its price by 27%, after spending 279 days on the market.

It was initially listed for $296,000 and is currently seeking $215,000.

A property on Kennedy Street in Kingston has spent the longest time on the market of 539 days but has only slashed its asking price by 13% to $400,000.

The other eight properties on the list have slashed their asking price by 11% to 14% and have spent a range of time on the market from 196 days to just under 400 days.

Nicola Trotman

Nicola Trotman

With a penchant for the written word, Nicola has built a career doing just this – now Creative Director at thriving Melbourne-based PR agency, Greenpoint Media.

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