Top Ten Most Discounted Properties Nationwide – January 30, 2014

This was one of the most discounted properties in the country this week
Photo: First National

We have had some changes week on week with our top ten most discounted properties around the country.

A long time listing – 69/267-269 Oxford St, Bondi Junction in Sydney’s eastern suburbs – was either withdrawn or sold since this time last week.

This left some room for a newbie to sneak through, and a property from Upper Coomera in Queensland debuted on the list.

The presence of this home takes the percentage of Queensland properties in the top ten to 50 per cent once again, revealing from early on in the year that this state is still dominating the heavily discounted property market.

Although SQM Research believes certain pockets of Queensland have reached the bottom, this is not to say that there won’t be plenty of homes that are still going to be priced at a massive discount of their original asking price – we are still witnessing many!

And this is purely because they have been hanging around the market for so long that their decrease in asking price is a reflection of the direction the market took in recent years.

1. 4 Edgewater Place, Lamb Island

First seen: 01/08/2010
Initial price: $425,000
Now asking: $249,000
Reduction: 41%
Days on Market: 1267

2. 22 White Street, Bundamba

First seen: 29/07/2012
Initial price: $425,000
Now asking: $250,000
Reduction: 41%
Days on Market: 539

3. 11 Slip Road, Triabunna

First seen: 27/12/2010
Initial price: $420,000
Now asking: $249,000
Reduction: 41%
Days on Market: 1120

4. 79 Perulpa Drive, Lamb Island

First seen: 15/08/2010
Initial price: $499,000
Now asking: $298,000
Reduction: 40%
Days on Market: 1253

5. Lot 106 Starrs Gully Road, One Tree Hill

First seen: 16/01/2012
Initial price: $2,200,000
Now asking: $1,390,000
Reduction: 37%
Days on Market: 734

6. 3 Charlies Crossing Road, Upper Coomera

First seen: 23/11/2013
Initial price: $550,000
Now asking: $350,000
Reduction: 36%
Days on Market: 57

7. 19 Yarawa Street, Kenmore

First seen: 06/04/2013
Initial price: $1,195,000
Now asking: $789,000
Reduction: 34%
Days on Market: 280

8. 116 Perseverance Road, Vista

First seen: 03/09/2011
Initial price: $565,000
Now asking: $379,000
Reduction: 33%
Days on Market: 869

9. 32 Virginia Court, Cranbourne

First seen: 23/06/2013
Initial price: $390,000
Now asking: $265,000
Reduction: 32%
Days on Market: 210

10. 21 Cotton Court, Strathalbyn

First seen: 06/08/2011
Initial price: $498,000
Now asking: $339,000
Reduction: 32%
Days on Market: 897