A house in Western Australia that debuted in the SQM most discounted list last winter has returned.
Described by SQM’s Louis Christopher as a seemingly aesthetically pleasing home, the four-bedroom Midland house comes with an asking price of $850,000 – a further $50,000 slashed off the price since SQM last reported it.
”This brings this property’s total discount in percentage terms to 55%, having been discounted by over $1 million since originally priced at $1,900,000,” Christopher said.
It has now been advertised on the market for over 680 days, he said.
“All things considered, perhaps the original asking price was overinflated – with a last sold price of $720,000 in December 2007, a price tag of $850,000 seems slightly more realistic for a property in this Perth suburb,” he said.
Top ten most discounted properties
1
Address: 4 Flora Street
Suburb: Midland
Postcode: 6056
First seen: 16/08/2009
Initial price: $1,900,000
Now asking: $850,000
Reduction: 55%
Days on market: 680
2
Address: 1350 Wynnum Road
Suburb: Tingalpa
Postcode: 4173
First seen: 06/11/2010
Initial price: $700,000
Now asking: $380,000
Reduction: 46%
Days on market: 231
3
Address: 3 Boolari Road
Suburb: Gosford West
Postcode: 2250
First seen: 08/07/2009
Initial price: $990,000
Now asking: $580,000
Reduction: 41%
Days on market: 717
4
Address: 1/21 Ocean Drive
Suburb: Coogee
Postcode: 6166
First seen: 23/05/2010
Initial price: $2,700,000
Now asking: $1,600,000
Reduction: 41%
Days on market: 399
5
Address: 232-234 High Central Road
Suburb: Macleay Island
Postcode: 4184
First seen: 11/01/2009
Initial price: $279,000
Now asking: $175,000
Reduction: 37%
Days on market: 896
6
Address: 25 Vicary Street
Suburb: Triabunna
Postcode: 7190
First seen: 02/08/2010
Initial price: $299,000
Now asking $189,000
Reduction: 37%
Days on market: 329
7
Address: 290 Viveash Road
Suburb: Swan View
Postcode: 6056
First seen: 05/06/2008
Initial price: $2,290,000
Now asking: $1,500,000
Reduction: 34%
Days on market: 1117
8
Address: 46a Stock Road
Suburb: Attadale
Postcode: 6156
First seen: 21/03/2010
Initial price: $2,690,000
Now asking: ^$1,790,000
Reduction: 33%
Days on market: 462
9
Address: 1/16 Dewar
Surburb: Ledge Point
Postcode: 6043
First seen: 15/11/2009
Initial price: $375,000
Now asking: $250,000
Reduction: 33%
Days on market: 588
10
Address: 60 Summerfields Drive
Suburb: Caboolture
Postcode: 4510
First seen: 30/04/2011
Initial price: $362,000
Now asking: $249,000
Reduction: 31%
Days on market: 57
This article first apperaed on Property Observer, Australia’s top site for property investment news
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