Darwin house price discounts muted in comparison with other capitals: SQM

Darwin house price discounts muted in comparison with other capitals: SQM
Cassidy KnowltonNovember 9, 2011

Vendors in the Northern Territory have not been forced to offer discounts as deep as those in other states and territories, according to SQM Research. 

The most discounted property in Tasmania, 588 White Beach Road, White Beach, has had its price expectations dropped a whopping 49%, and the vendors of the most  discounted property in WA, 146 Maddington Road, Maddington, have dropped their price hopes by 36%. In contrast, the most discounted property in the Northern Territory, 35 Flinders Drive, Stuart Park, has been discounted by a more modest 20%.

"Upon quick glance, it is evident that the discounting for this particular capital city appears somewhat muted in comparison to other capital cities that we have examined," SQM director Louis Christopher says.

However, he is quick to point out that the pecentage of discounting is not necessarily the best indicator of a state's market.

"As stated many times by SQM Research, our top 10 most discounted properties list is not necessarily an accurate representation of the property market overall, however this minimal level of discounting can be explained due to the number of mining towns in the NT where a property boom is still occurring, preventing the market from suffering substantial declines," he says.

 

1

35 Flinders Drive, Stuart Park, NT, 0820 (pictured)

On the market since: November 13, 2010

Initial asking price: $1.15 million

Current asking price: $925,000

Reduction: 20%

Days on market: 350

 

2

1/26 Lakeside Drive, Alawa, NT, 0810

On the market since: January 1, 2011

Initial asking price: $395,000

Current asking price: $325,000

Reduction: 18%

Days on market: 301

 

3

5/78 Kurrajong Crescent, Nightcliff, NT, 0810

On the market since: April 9, 2011

Initial asking price: $380,000

Current asking price: $319,000

Reduction: 16%

Days on market: 203

 

4

29 Bayview Boulevard, Bayview, NT, 0820

On the market since: April 9, 2011

Initial asking price: $1.9 million

Current asking price: $1.6 million

Reduction: 16%

Days on market: 203

 

5

365 Lot 3731 Launceston Road, Dundee Beach, NT, 0840

On the market since: January 30, 2010

Initial asking price: $389,000

Current asking price: $329,000

Reduction: 15%

Days on market: 637

 

6

38 Dwyer Circuit, Driver, NT, 0830

On the market since: March 19, 2011

Initial asking price: $555,000

Current asking price: $470,000

Reduction: 15%

Days on market: 224

 

7

33/184 Forrest Parade, Rosebery, NT, 0832

On the market since: July 24, 2010

Initial asking price: $430,000

Current asking price: $365,000

Reduction: 15%

Days on market: 462

 

 

8

1/66 Stuart Highway, Stuart Park, NT, 0820

On the market since: February 12, 2011

Initial asking price: $346,000

Current asking price: $300,000

Reduction: 13%

Days on market: 259

 

9

273/8 Gardiner, Darwin, NT, 0800

On the market since: February 6, 2010

Initial asking price: $1.25 million

Current asking price: $1,086,195

Reduction: 13%

Days on market: 630

 

10

8 Costello Court, Farrar, NT, 0830

On the market since: February 19, 2011

Initial asking price: $538,000

Current asking price: $470,000

Reduction: 13%

Days on market: 252

 

SQM Research also offers a list of the Top 100 Biggest Bargains in Australia for sale.

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