Hobart townhouse makes SQM's discount of the week

The latest discounted property of the week from SQM Research is a townhouse in the middle of Launceston, Tasmania with a price reduction of $44,000 - supposedly just for June.

SQM research managing director Louis Christopher said the property, 3/28 Abbot St, East Launceston, Tasmania, first came onto the market back in April this year with an original asking price just shy of $330,000.  

"The vendor has now slashed this price by $44,000 reducing the property to just $285,000, supposedly just for the month of June (clearly a sellers bluff)," he said.

"The townhouse is located smack bang in the middle of Launceston, with two generous sized bedrooms, one bathroom, balcony and courtyard. The property is solid brick rendered with a brand new kitchen, and double glazed windows (to help minimise those cosmopolitan noises). 

"The listing states that the townhouse is conveniently located adjacent to a bus stop, with plenty of public transport routes nearby, and Launceston airport just a short 20 minute drive away. Launceston is located approximately 200km outside of Tasmania's capital city Hobart.

"According to 12 month actuals to March - Hobart is currently outperforming this forecast with property prices rising at 7.6 percent.

"Notably, East Launceston recorded a vacancy rate of 1.9 percent in April 2016, this reflects a reasonably tight residential market, however, and it is slightly higher than the capital city average of 0.9 percent for Hobart."