Discounting more severe in Perth than in some other capitals: SQM Research

Discounting more severe in Perth than in some other capitals: SQM Research
Discounting more severe in Perth than in some other capitals: SQM Research

As it releases a list of the top 10 most discounted properties in Western Australia, SQM Research notes that the discounting occurring in Perth has been a little more severe than some of the other capital cities.

"We have often featured Perth homes possessing massive discounts in our national top 10 as well as homes from Perth which have spent an excessive amount of time on the market," SQM Research director Louis Christopher says. 

He says Perth's housing market is the weakest among Australian capital cities and says it is likely to bottom out next year.

"In terms of the Perth housing market in general, SQM Research forecasts that it will likely post the biggest falls of the capital cities for 2011 between 7.8% and 9.8%. If the economy manages to scrape through next year, house prices for Perth are likely to bottom out and we will not see further substantial declines," Christopher says.

1

146 Maddington Road, Maddington, WA, 6109

On the market since: April 30, 2011

Initial asking price: $5.5 million

Current asking price: $3.5 million

Reduction: 36%

Days on market: 126

 

2

290 Viveash Road, Swan View, WA, 6056

On the market since: June 5, 2008

Initial asking price: $2.29 million

Current asking price: $1.5 million

Reduction: 34%

Days on market: 1,187

 

3

4 Shoran Court, Ocean Reef, WA, 6027

On the market since: May 14, 2011

Initial asking price: $990,000

Current asking price: $695,000

Reduction: 30%

Days on market: 112

 

4

4/19 Broome Street, Cottesloe, WA, 6011

On the market since: January 10, 2010

Initial asking price: $1.2 million

Current asking price: $850,000

Reduction: 29%

Days on market: 601

 

5

19/1 North Lake, Alfred Cove, WA, 6154

On the market since: July 26, 2010

Initial asking price: $1.18 million

Current asking price: $849,000

Reduction: 28%

Days on market: 406

 

6

309 Scarborough Beach Road, Woodlands, WA, 6018

On the market since: February 7, 2010

Initial asking price: $1.1 million

Current asking price: $795,000

Reduction: 28%

Days on market: 573

 

7

1/43 Preston Point Road, East Fremantle, WA, 6158

On the market since: May 23, 2010

Initial asking price: $1.1 million

Current asking price: $800,000

Reduction: 27%

Days on market: 468

 

 

8

227 Franklin Road, Wanneroo, WA, 6065 (pictured)

On the market since: December 27, 2010

Initial asking price: $1.5 million

Current asking price: $1.095 million

Reduction: 27%

Days on market: 252

 

9

21 Robertson Road, Ledge Point, WA, 6043

On the market since: September 25, 2010

Initial asking price: $880,000

Current asking price: $649,000

Reduction: 26%

Days on market: 357

 

10

5 Park Street, Inglewood, WA, 6052

On the market since: November 27, 2010

Initial asking price: $649,000

Current asking price: $495,000

Reduction: 24%

Days on market: 294

 

SQM Research also offers a list of the Top 100 Biggest Bargains in Australia for sale.

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