Herbert, NT home Louis Christopher's distressed property of the week

Herbert, NT home Louis Christopher's distressed property of the week
Herbert, NT home Louis Christopher's distressed property of the week

A house in the Northern Territory's Herbert has been named the "distressed property of the week" by SQM Research managing director Louis Christopher.

42 Koro Road, which is currently under contract, is located near Humpty Doo town centre. The five acre property includes a pool and gazebo, and was listed with a price guide of $720,000 before it was under contract. The house has four bedrooms and two bathrooms.

"This house in Darwin has been slashed by $60,000," wrote Christopher in an SQM Research newsletter.

"It was on the market for $780,000 in December last year and the owners are now aiming to draw buyers with this big discount. The property is located 40 minutes from the Darwin CBD and the price reduction reflects downward pressure on house prices in the city following the commodities downturn. 

"The SQM Weekly Asking Prices Index shows asking house prices have fallen 3.9% over the year to March 25 while asking unit prices are down 6.4%. So, for those who are cashed up and ready to go, there are some bargains in Darwin right now and no doubt, there are more to come."

 

Tags: 
Northern Territory

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