Hobart houses still struggling to sell, despite discounts: SQM
The Tasmanian property market, slow at the best of times, has turned positively glacial, as SQM Research’s list of the most discounted properties in Tasmania shows.
SQM director Louis Christopher points out that the most discounted home in Tasmania, 588 White Beach Road, White Beach, has been on the market for more than a year despite numerous incentives to try to secure a buyer.
"Having already spent well over a year on the market, it seems that even price slashes totalling $380,000 as well as offering the home completely furnished has done little to attract significant buyer interest for this waterfront property," Christopher says.
Six of the 10 properties on SQM's list of the most discounted properties in Tasmania have been on the market for more than a year, and all have been on the market for more than 200 days.
Hobart house prices have fallen 1% during the September quarter, which Christopher says is to be expected as the market continues to decline.
Christopher says the most recent fall is "in line with our original predictions that Hobart house prices will decline anywhere from 1.5% to 3.5% by the end of the 2011 calendar year".
According to RP Data's Tim Lawless the market is struggling as tree-changers are no longer moving to Tasmania.
1
588 White Beach Road, White Beach, Tasmania, 7184
On the market since: May 23, 2010
Initial asking price: $780,000
Current asking price: $400,000
Reduction: 49%
Days on market: 518
2
25 Vicary Street, Triabunna, Tasmania, 7190
On the market since: August 2, 2010
Initial asking price: $299,000
Current asking price: $189,000
Reduction: 37%
Days on market: 449
3
2 Duke Street, Geeveston, Tasmania, 7116
On the market since: December 20, 2010
Initial asking price: $225,000
Current asking price: $160,000
Reduction: 29%
Days on market: 309
4
10 Lovell Road, Crabtree, Tasmania, 7109
On the market since: February 7, 2011
Initial asking price: $799,000
Current asking price: $600,000
Reduction: 25%
Days on market: 260
5
128 Sandy Bay Road, Sandy Bay, Tasmania, 7005
On the market since: March 21, 2011
Initial asking price: $795,000
Current asking price: $600,000
Reduction: 25%
Days on market: 218
6
26 Glenbervie Road, Dover, Tasmania, 7117
On the market since: December 27, 2009
Initial asking price: $250,000
Current asking price: $190,000
Reduction: 24%
Days on market: 665
7
37 Islington Road, Montrose, Tasmania, 7010
On the market since: December 3, 2010
Initial asking price: $380,000
Current asking price: $290,000
Reduction: 24%
Days on market: 385
8
14 Castlereagh Court, Lenah Valley, Tasmania, 7008 (pictured)
On the market since: March 14, 2011
Initial asking price: $550,000
Current asking price: $425,000
Reduction: 23%
Days on market: 225
9
5090 Tasman Highway, Buckland, Tasmania, 7190
On the market since: May 18, 2008
Initial asking price: $250,000
Current asking price: $195,000
Reduction: 22%
Days on market: 1,255
10
22 Beach Street, White Beach, Tasmania, 7184
On the market since: July 1, 2008
Initial asking price: $250,000
Current asking price: $195,000
Reduction: 22%
Days on market: 1,211
SQM Research also offers a list of the Top 100 Biggest Bargains in Australia for sale.