Queensland dominates list of most discounted properties

The four most discounted properties in Australia were in Queensland this week, according to SQM Research.

A dilapidated three bedroom outer Ipswich Queenslander is this week’s most discounted property.

It comes on 1.49 hectares of land and backs onto the Bremer river which overflowed in 2011 and flooded the house.

Agent Tony Tran from Ray White Darra says it would cost $20,000 to bring it up to a liveable condition and the true value of the property lies in land and river frontage. The address is 22 White Street Bundamba (pictured below).

It’s currently priced at $249,000 – a discount of 41% from its original listing price 461 days ago.

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Next is a two bedroom house at 4 Edgewater Place Lamb Island (pictured below).

Originally priced at $425,000 three years ago it’s now priced at $249,000 – also a discount of 41%.

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Next is the nearby three-bedroom house with a spa at 79 Perulpa Drive Lamb Island (pictured below).

It comes with views over Moreton Bay.

Originally priced at $499,000 three years ago it is now at $298,000 – a 40% discount.

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Next is 38 Cloverdale Road Doolandella (pictured below) –a four bedroom house.

It has 1.34 hectares of land, two bathrooms, two car ports, and a big shed.

Nine months ago it was priced at $1.65 million but that’s been reduced by 39% to $1 million.

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And fifth is 61 Vista Avenue in Copacabana (pictured below) near Woy Woy.

According to SQM Research it was initially listed for $1.79 million eight months ago and was this week listed at $1.1 million –a difference of 39%. It has since sold.

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Property Observer notes the listing is divided in two sections, one with a house and one with a granny flat, which may account for the price difference.

{module Which of the top five most discounted properties represents the best buying opportunity?}

Top 10 most discounted properties nationwide

Address Suburb Postcode Initial price Now asking Reduction Days on Mkt
22 White Street Bundamba 4304 $425,000 $250,000 41% 461
4 Edgewater Pl Lamb Island 4184 $425,000 $249,000 41% 1190
79 Perulpa Dve Lamb Island 4184 $499,000 $298,000 40% 1176
38 Cloverdale Road Doolandella 4077 $1,650,000 $1,000,000 39% 266
61 Vista Avenue Copacabana 2251 $1,790,000 $1,100,000 39% 245
Lot 106 Starrs Gully Road One Tree Hill 5114 $2,200,000 $1,390,000 37% 791
69/267 - 269 Oxford St Bondi Junction 2022 $2,500,000 $1,650,000 34% 994
157 Milleara Road Keilor East 3033 $448,000 $296,000 34% 531
134 Bay Road Berowra Waters 2082 $1,199,000 $795,000 34% 1169
55 William Street Sedan 5353 $165,000 $109,500 34% 784

awalsh@propertyobserver.com.au

Alistair Walsh

Alistair Walsh

Deutsche Welle online reporter

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