Forresters Beach property sells for $800,000 less than original asking price after two years on the market: SQM

A two-bedroom beachfront home in Forresters Beach, NSW, has sold for $1.2 million, or $800,000 less than its original asking price, after spending 720 days on the market, according to SQM Research.

The property at 6 South Scenic Road (pictured) was first on SQM's list of the 10 most discounted homes in Australia for a number of months, having had its asking price reduced from $2 million to $1.1 million plus.  McGrath agents Steve Dudley and Jennifer DeLuca secured a bit more than the lower estimate.

"This has left room for another central coast property to take its place as number one – with 451 Old Pacific Highway, Mooney Mooney Creek, 2083, being bumped up to the top position after only debuting on our list last week," says SQM Research director Louis Christopher.

The central coast of NSW continues to dominate the list, with no properties from NT, SA or Victoria discounted enough to make the list. 

"Number three on the list – 38 Iluka Road, Palm Beach – was originally advertised as going to auction with offers of over $4.75 million," Christopher notes.

"It appears that perhaps the vendors did not receive a high enough offer as the house has now been advertised as 'for sale' with 'offers over $5 million'. This asking price is still a massive $3 million less than the original asking price, so it will be interesting to see if it attracts any serious buyer interest."

1

451 Old Pacific Highway, Mooney Mooney Creek, NSW, 2083

Days on the market: 588
Initial asking price: $1.55 million
Current asking price: $895,000
Reduction: 42%

2

38 Iluka Road, Palm Beach, NSW, 2108

Days on the market: 553
Initial asking price: $8 million
Current asking price $5 million
Reduction: 38%

3

5756 Arthur Highway, Taranna, Tasmania, 7180

Days on the market: 713
Initial asking price: $499000
Current asking price: $299,000
Reduction: 40%

4

19 Lychee Drive, Caboolture, Queensland, 4510

Days on the market: 853
Initial asking price: $949,000
Current asking price: $586,000
Reduction: 38%

5

202 Wolstenholme Avenue, Greendale, NSW, 2745

Days on the market: 615
Initial asking price: $2.95 million
Current asking price: $1.85 million
Reduction: 37%

6

15 Gretel Two Rocks 6037

Days on the market: 1,001
Initial asking price: $1.1 million
Current asking price: $690,000
Reduction: 36%

7

588 White Beach Road, White Beach, Tasmania, 7184

Days on the market: 853
Initial asking price: $780,000
Current asking price: $499,000
Reduction: 36%

8

1302 Birkdale Place, Magenta, NSW, 2261

Days on the market: 1,558
Initial asking price: $700,000
Current asking price: $450,000
Reduction: 36%

9

323 The Corso, Gorokan, NSW, 2263

Days on the market: 679
Initial asking price: $680,000
Current asking price: $440,000
Reduction: 35%

10

99 Lowanna Way, Armadale, WA, 6112

Days on market: 1,270
Initial asking price: $1.85 million
Current asking price: $1.2 million
Reduction: 35%

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