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Moonee Ponds overlooked beauty makes debut at number three on SQM discounted properties list
By
Cassidy Knowlton
A Moonee Ponds property has appeared third on SQM Research's list of the 10 most discounted properties in Australia, which this week contains no units, only houses. Some of the houses on the list have been on the market for years, with SQM director Louis Christopher pointing out that the ninth-ranked property, 1302 Birkdale Place, Magenta on the NSW central coast, has been on the market for 1,446 days, or almost four years. Its price hopes have been reduced by $250,000, or 36%, in that time. "We have seen a lot of price slashing occurring on the central coast, with many homes either stagnating in value or decreasing over time," Christopher says. "A region that was not too long ago a hotspot for Sydneysiders who desired an affordable seaside home, the central coast property market is softening considerably, with a vast supply of homes on the market priced to sell. This could be partially due to the fact that the area is highly reliant on tourism, a facet of the Australian economy that has suffered substantially over the past two years. The NSW central coast also has a pretty narrow based economy and with the high rate of supply added to the property market over time, it is understandable that there has been an oversupply of real estate in the area." In contrast, 60 Margaret Street, Moonee Ponds, has been on the market for just over a year, and its vendors have this week slashed its $1 million price hopes by 38%, to $620,000. It is currently operating as a beauty salon. It last sold in 2008.
127 Shaws Pocket Road, Cedar Creek, Queensland, 4207 On the market since: August 15, 2011 Initial asking price: $1.19 million Current asking price: $699,000 Reduction: 41% Days on market: 293
211 Pyrites Road (via Nairne), Brukunga, SA, 5252 On the market since: May 23, 2010 Initial asking price: $253,000 Current asking price: $155,000 Reduction: 39% Days on market: 741
3 60 Margaret Street, Moonee Ponds, Victoria, 3039 (pictured) On the market since: April 9, 2011 Initial asking price: $1 million Current asking price: $620,000 Reduction: 38% Days on market: 420
4502 Tarni Court, Port Adelaide, SA, 5015 On the market since: January 28,2010 Initial asking price: $725,000 Current asking price: $450,000 Reduction: 38% Days on market: 707
51892 Stapylton Jacobs Well Road, Jacobs Well, Queensland, 4208 On the market since: July 12, 2009 Initial asking price: $515,000 Current asking price: $320,000 Reduction: 38% Days on market: 1,056
6202 Wolstenholme Avenue, Greendale, NSW, 2745 On the market since: January 16, 2011 Initial asking price: $2.95 million Current asking price: $1.85 million Reduction: 37% Days on market: 504
715 Gretel, Two Rocks, WA, 6037 On the market since: December 26, 2009 Initial asking price: $1.1 million Current asking price: $699,000 Reduction: 36% Days on market: 889
826a Paling Street, Thornleigh, NSW, 2120 On the market since: May 16, 2009 Initial asking price: $1.1 million Current asking price: $700,000 Reduction: 36% Days on market: 1,113
91302 Birkdale Place, Magenta, NSW, 2261 On the market since: June 17, 2008 Initial asking price: $700,000 Current asking price: $450,000 Reduction: 36% Days on market: 1,446
104565 Channel Highway, Middleton, Tasmania, 7163 On the market since: January 24, 2012 Initial asking price: $700,000 Current asking price: $450,000 Reduction: 36% Days on market: 132
SQM Research also offers a list of the Top 100 Biggest Bargains in Australia for sale. |
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