25 square metre "larger than most" apartment the most discounted property in Victoria: SQM

A one bedroom apartment in Hawthorn has topped SQM Research's list of Victoria's most discounted properties.

The student apartment in the Varsity complex near Swinburne University has seen its price cut by 40% to $99,000, after more than four years on the market.

Despite its 25 square metre size, it's described as "larger than most" by listing agent Nick Pane of O'Donoghues First National.

It's not the only student accommodation to make the list of Victoria's most discounted properties. Of the top 10, four are within walking distance of a university.

SQM Research's 10 most discounted Victorian properties:

 320/1 Queens Avenue, Hawthorn, Vic



The fully furnished one bedroom apartment is currently rented out for $215 per week, representing a net yield of 7.3%. It was initially offered at $165,000 and has been on the market for 1,533 days. It comes fully furnished.

 D26B/662 Blackburn Road, Notting Hill, Vic



Another Melbourne student apartment has made it onto this week's top 10 discounted properties list. The asking price of this one bedroom unit near Monash University has dropped by 25%, and now has an asking price of $180,000.

The fully furnished apartment, which includes a basement car park and a balcony, has been on the market for almost a year. The listing information notes that it can be rented for $1,043 per calender month, representing a yield of 6.9%.

226/9 Wharf Street Docklands, Vic



Vendors are seeking $650,000 for this Docklands townhouse, which has two bedrooms and three bathrooms. Its asking price has dropped by 24% since it was initially offered 846 days ago.

The Harbour Town unit has an open plan living area and kitchen on the lower level and two bedrooms with built in robes and en suites on the upper level. The property comes with two car spaces.

2/3 Mackenzie Street Cheltenham, Vic



This two bedroom apartment in Melbourne's south eastern suburbs is currently advertised at $369,000, down from its initial asking price of $440,000. It's been on the market for 147 days.

The ground floor apartment is within walking distance of the nearby train station and the local shopping strip. Both bedrooms have built in robes, and the apartment comes with a car space.

 38 Waxflower Crescent Bundoora, Vic



Currently leased until January 2015, this two level Bundoora townhouse has seen a 23% price cut, from $410,000 to $315,000, after 259 days on the market.

The townhouse has two bedrooms and two bathrooms, with timber flooring throughout, and access to a courtyard and barbecue area. Its located within walking distance of RMIT's Bundoora campus.

The townhouse was purchased in 2009 for $396,500.

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1308/31 A'Beckett Street Melbourne, Vic



The asking price for this one bedroom, one bathroom apartment in the Melbourne CBD has dropped from $455,000 to $350,000, after 875 days on the market.

The apartment has an open plan kitchen and living area and built in robes in the bedroom. The apartment complex is one block from RMIT's main city campus and within walking distance of the University of Melbourne.

28 Jamieson Terrace Taylors Hill, Vic



Initially listed with $688,000 hopes, this Taylors Hill home now comes with an asking price between $525,000 and $560,000.

The four bedroom, two bathroom home has a television room, a rumpus room and a upstairs retreat. It is set on a 700 square metre plot, within walking distance of a school and a bus stop. The house was purchased for $342,000 in 2005.

  1110 Nar Nar Goon - Longwarry Road, Garfield Vic



This house on a 16 hectare plot has an asking price of $850,000, down 23% from its initial $1.1 million price guide. According to the listing information, the house can be rented out for $500 per week, representing a yield of 3% at the current asking price.

The four bedroom house is accompanied by 11 small paddocks, four large paddocks, a hayshed, a three bay carport, six stables, a tack room, a feed room and five horse shelters. It's been on the market for more than two and a half years.

211/8 Porter Street Prahran, Vic

A studio apartment Prahran has had a 22% price cut. Vendors are now seeking $185,000 for the apartment, after 139 days on the market. The apartment is partially furnished, with a microwave, television and study table.

It comes with access to a common room and common balcony, with city views. The listing information states that it recently returned $1,180 per calender month in rent, representing a yield of 7.6%.

 23 Sandells Road, Tecoma, Vic



Initially listed with a $460,000 price guide, this home now has an asking price of $360,000 after three months on the market. The two to three bedroom house on a sloping lot was once set up to house two families.

It includes a galley kitchen, two living rooms, a veranda out the front and a deck out the back. The property has remained in the same name for 34 years - it was purchased by the vendors for $22,500.