Two of four most discounted properties in Australia are Treasure Island neighbours
The Queensland property at 121 Treasure Island Avenue, Karragarra Island, made its debut on SQM Research's top 10 most discounted properties list last week – and now its neighbour has appeared in the number-one position on the list.
The property at 60 Treasure Island Avenue has had its price hopes slashed from $295,000 to $185,000 this week. It was initially listed with price hopes of $349,000 in October 2010.
Its neighbour 700 metres down the road, 121 Treasure Island Avenue, was also put on the market in October 2010, and both are marketed by T. Barclay Real Estate.
Click to enlarge
"INSANE PRICE! GRAB IT NOW - THIS REALLY IS THE BARGAIN OF A LIFETIME. This is a ridiculous low low price - around $100,000 under what it is worth," says Terri Barclay in 60 Treasure Island Avenue's marketing.
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The agency made a video advertising the property (above) while it was for sale with price hopes of $295,000.
Karragarra Island is adjacent to Macleay Island, home to the most discounted property in Australia last week, 92 Beelong Street. The Treasure Island properties are within half an hour's drive of 92 Beelong Street.
1
60 Treasure Island Avenue, Karragarra Island, Queensland,4184 (pictured)
On the market since: October 3, 2010
Initial asking price: $349,000
Current asking price: $185,000
Reduction: 47%
Days on market: 489
2
92 Beelong Street, Macleay Island, Queensland, 4184
On the market since: May 23, 2010
Initial asking price: $590,000
Current asking price: $340,000
Reduction: 42%
Days on market: 622
3
102 Fountain Road, Burpengary, Queensland, 4505
On the market since: April 17, 2011
Initial asking price: $1.2 million
Current asking price: $699,000
Reduction: 42%
Days on market: 295
4
121 Treasure Island Avenue, Karragarra Island, Queensland, 4184
On the market since: October 23, 2010
Initial asking price: $335,000
Current asking price: $200,000
Reduction: 40%
Days on market: 469
5
27 Reeve Street, Campania, Tasmania, 7026
On the market since: June 14, 2010
Initial asking price: $330,000
Current asking price: $200,000
Reduction: 39%
Days on market: 603
6
329 Waterford Road, Ellen Grove, Queensland, 4078
On the market since: October 16, 2010
Initial asking price: $1,275,000
Current asking price: $800,000
Reduction: 37%
Days on market: 476
7
22 Fenton Avenue, Christies Beach, SA, 5165
On the market since: March 6, 2010
Initial asking price: $1,195,000
Current asking price: $750,000
Reduction: 37%
Days on market: 700
8
2/18 Campbell Crescent, Terrigal, NSW, 2260
On the market since: December 11, 2010
Initial asking price: $1.99 million
Current asking price: $1.25 million
Reduction: 37%
Days on market: 420
9
290 Viveash Road, Swan View, WA, 6056
On the market since: June 5, 2008
Initial asking price: $2.29 million
Current asking price: $1.45 million
Reduction: 37%
Days on market: 1,341
10
15 Gretel, Two Rocks, WA, 6037
On the market since: December 26, 2009
Initial asking price: $1.1 million
Current asking price: $699,000
Reduction: 36%
Days on market: 770
SQM Research also offers a list of the Top 100 Biggest Bargains in Australia for sale.