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