Top Ten Most Discounted Properties Nationwide – February 27, 2014

By Louis Christopher on 27 Feb 2014
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Top Ten Most Discounted Properties Nationwide – February 27, 2014

4586 Wisemans Ferry Road, Spencer
Photo: Michael Kidd Property Sales

This week’s list has a mix of old and new listings.

Of particular interest is number five – 4586 Wisemans Ferry Road, Spencer in New South Wales.

Now, this is a listing that we here at SQM may be a bit iffy about publishing as the dwelling itself is merely a cabin, and not a standard house or unit.

1. 4 Edgewater Place, Lamb Island

Initial price: $425,000
Now asking: $249,000
Reduction: 41%
Days on Market: 1296

2. 22 White Street, Bundamba

Initial price: $425,000
Now asking: $250,000
Reduction: 41%
Days on Market: 566

3. 11 Slip Road, Triabunna

Initial price: $420,000
Now asking: $249,000
Reduction: 41%
Days on Market: 1149

4. 79 Perulpa Drive, Lamb Island

Initial price: $499,000
Now asking: $298,000
Reduction: 40%
Days on Market: 1282

5. 4586 Wisemans Ferry Road, Spencer

Initial price: $380,000
Now asking: $229,000
Reduction: 40%
Days on Market: 1717

8. 116 Perseverance Road, Vista

Initial price: $565,000
Now asking: $370,000
Reduction: 35%
Days on Market: 896

7. 24d Southbourne Street, Scarborough

Initial price: $1,500,000
Now asking: $999,999
Reduction: 33%
Days on Market: 84

8. 32 Virginia Court, Cranbourne

Initial price: $390,000
Now asking: $265,000
Reduction: 32%
Days on Market: 239

9. 21 Cotton Court, Strathalbyn

Initial price: $498,000
Now asking: $339,000
Reduction: 32%
Days on Market: 924

10. 1/23 Albuera Street, Battery Point

Initial price: $2,200,000
Now asking: $1,500,000
Reduction: 32%
Days on Market: 855
 
However, we couldn’t let this one pass purely based on some of the odd marketing choices made by the agent on the listing’s online advertisement.

As you can see in the picture below  (taken from the ad) one of the photos used to market the property in question is of what seems to be a weathered park pony ride.

4586 Wisemans Ferry Road, Spencer

Photo: Michael Kidd Property Sales

Hmm, we were a bit puzzled as to why you would want to use this as a selling point for this property?

Perhaps this belongs more comfortably in our Rude Real Estate Realities section! We just couldn’t see why a photo of an old unused piece of children’s play equipment would be the thing buyers would be searching for when scanning the visuals of this particular property.

However, with marketing choices such as this, it may not be such a huge shock that this property hasn’t sold just yet.

About the Author

SQM Research is an independent property advisory and forecasting research house which specialises in providing accurate property related advice, research and data to financial institutions, property developers and real estate investors. It is founded and run by one of the country's most recognised and respected property analysts, Louis Christopher.

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