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Queensland not featured on SQM most discounted list as Macleay Island property sells at last
By
Alistair Walsh
Properties have been discounted by as much as 39% in SQM Research's latest list of the most discounted properties in Australia. The list, usually dominated by Queensland, has properties from South Australia, NSW, WA and Tasmania. The top discounted property was in Campania, Tasmania, with its current advertised price down $130,000 from the original asking price of $200,000. Meanwhile, longstanding leader of the pack, 92 Beelong Street in Macleay Island, Queensland, has sold after 706 days. It eventually sold for $340,000 – 42% less than the original asking price of $590,000, which is what the vendor paid for the property in December 2007. "This home was sold at a loss of at least $250,000, not to mention any interest accrued on the original mortgage! Indeed, the property itself is not situated in a particularly sought after location (Macleay Island) but a loss of this proportion is still notable and possibly devastating," says SQM managing director Louis Christopher. "The original online advertisement mentioned that the mortgagee was in possession for this property, in which case the desperation to sell regardless of the fetching price is perhaps better understood." 127 Reeve Street, Campania, Tasmania, 7026 On the market since: June 14, 2010 Initial asking price: $330,000 Current asking price: $200,000 Reduction: 39% Days on market: 694 211 Pyrites Road, 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: 713
3202 Wolstenholme Avenue, Greendale, NSW, 2745 On the market since: January 16, 2011 Initial asking price: $2,950,000 Current asking price: $1,850,000 Reduction: 37% Days on market: 476
415 Gretel, Two Rocks, WA, 6037 On the market since: December 26, 2009 Initial asking price: $1,100,000 Current asking price: $699,000 Reduction: 36% Days on market: 861
526a Paling Street, Thornleigh, NSW, 2120 (pictured) On the market since: May 16, 2009 Initial asking price: $1,100,000 Current asking price: $700,000 Reduction: 36% Days on market: 1,085
61302 Birkdale Pl, 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: 1,418
727 Light Avenue, Munno Para West, SA, 5115 On the market since: February 27, 2010 Initial asking price: $482,687 Current asking price: $319,000 Reduction: 34% Days on market: 798
8319 West Coast Drive, Trigg, WA, 6029 On the market since: May 28, 2011 Initial asking price: $4,500,000 Current asking price: $2,990,000 Reduction: 34% Days on market: 343
922 Beach St, White Beach, Tasmania, 7184 On the market since: July 1, 2008 Initial asking price: $250,000 Current asking price: $170,000 Reduction: 32% Days on market: 1,407
10309 Scarborough Bch Rd, Woodlands, WA, 6018 On the market since: February 7, 2010 Initial asking price: $1.1 million Current asking price: $750,000 Reduction: 32% Days on market: 818 |
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