Kensington, Melbourne apartment 'most discounted': SQM Research

The discounted property of the week from SQM Research is a top floor one bedroom flat in South Kensington, Melbourne, that has had the price reduced by $30,000.

According to SQM Research managing director Louis Christopher the distressed property of the week, 304/88 Altona St, Kensington, was listed in July for $349,000, and has since then been reduced by $30,000 to $319,000. 

"The vendor says that the apartment is leased until April 2016 with a current rental return of $330 per week. This is ideal for investors looking for a quick and easy addition to their current property portfolio," he said.

"The apartment looks good as new, with a luxurious Caesar-stone kitchen with stainless steel appliances and a generous double sized bedroom with built-in wardrobe and additional study space."