Most discounted properties in Victoria all in Melbourne: SQM
All 10 of the properties on SQM Research's most discounted properties in Victoria list are in Melbourne suburbs, with no regional Victoria representation.
This is in sharp contrast to the list of the most discounted properties in New South Wales, which features four Central Coast properties and two properties in the Blue Mountains.
The property taking out the eighth spot on the Victorian list is in the new outer-Melbourne suburb of Caroline Springs, where the post office opened just seven years ago.
"Victoria has been experiencing some extremes in the property market in comparison to other states, with Melbourne's stock on market figures considerably high (currently sitting at 45,423 as of February 2012 – up 19.8% year-on-year) as well as elevated residential vacancy rates (currently sitting at 12,719 vacancies and a vacancy rate of 3.5% as of January 2012)," SQM director Louis Christopher says.
"These high figures for Melbourne have been previously attributed by SQM Research to the substantial amount of residential property development occurring in the capital city, as well as an overall increase in stock levels nationally over the course of the past year."
1
1365 Ballan Road, Wyndham Vale, VIC, 3024
On the market since: May 22, 2010
Initial asking price: $2.4 million
Current asking price: $1.8 million
Reduction: 25%
Days on market: 609
2
1/67 Ballarat Road, Footscray, VIC, 3011
On the market since: October 9, 2011
Initial asking price: $329,000
Current asking price: $250,000
Reduction: 24%
Days on market: 140
3
4/69 Denbigh Road, Armadale, VIC, 3143 (pictured)
On the market since: October 23, 2011
Initial asking price: $1,175,000
Current asking price: $900,000
Reduction: 23%
Days on market: 105
4
13 Summit Avenue, Oak Park, VIC, 3046
On the market since: August 20, 2011
Initial asking price: $670,000
Current asking price: $510,000
Reduction: 24%
Days on market: 189
5
24a Jackson Avenue, Mont Albert North, VIC, 3129
On the market since: October 9, 2011
Initial asking price: $1,56 million
Current asking price: $1.2 million
Reduction: 23%
Days on market: 140
6
20/234 Warrigal Road, Camberwell, VIC, 3124
On the market since: July 24, 2011
Initial asking price: $180,000
Current asking price: $140,000
Reduction: 22%
Days on market: 182
7
2/17 Hamilton Road, Bayswater North, VIC, 3153
On the market since: December 31, 2011
Initial asking price: $359,000
Current asking price: $280,000
Reduction: 22%
Days on market: 56
8
3 Calthorpe Green, Caroline Springs, VIC, 3023
On the market since: October 16, 2011
Initial asking price: $560,000
Current asking price: $440,000
Reduction: 21%
Days on market: 112
9
12 Hotham Street, Cranbourne, VIC, 3977
On the market since: May 14, 2011
Initial asking price: $329,000
Current asking price: $260,000
Reduction: 21%
Days on market: 252
10
89b Bluff Road, Black Rock, VIC, 3193
On the market since: May 21, 2011
Initial asking price: $1.2 million
Current asking price: $950,000
Reduction: 21%
Days on market: 280
SQM Research also offers a list of the Top 100 Biggest Bargains in Australia for sale.