Darwin unit slashed to possibly get it sold: SQM Research
A Blue Fig, Darwin unit (below) has become a burden to its owner.
"It's been on the market since August 2015 and still hasn't sold," SQM's Louis Christopher said.
"The price has just come down again to $430,000 as the vendor reassess their expectations in a city that has been trampled on by the mining downturn.
"Investors might be reluctant to buy a unit in an area where the vacancy rate has been climbing since 2012 and is now around 3.3%," he suggests.
Reflecting that, the asking rent for a two bedroom unit in the 0810 postcode has fallen almost 20% in the three years to be around $375 a week now.
"Who knows when that decline in rents will stop?
"Only a brave buyer perhaps would put a date on it.
"As for asking prices for units, those too have been trending downwards in the 0810 postcode," Christopher said.