Darwin vendors still discounting less than vendors in other capitals: SQM Research
Vendors in Darwin are able to secure sales without having to offer deep discounts needed in other states, research from RP Data and SQM Research has found.
The average discount offered by vendors in the Northern Territory is 5.6%, according to RP Data, compared with an average discount of 8.1% in New South Wales, 7.4% in Queensland and an average discount of 7.1% in Victoria.
This is borne out by SQM Research's list of the top 10 most discounted properties in NT. The most discounted property on the list, 31 Chinner Road, Lake Bennett, is offered at a 21% discount to its original price hopes of $369,000. In November 2011, the last time SQM compiled a list of the most discounted properties in Darwin, 35 Flinders Drive, Stuart Park was the number-one property, with a discount of 20%. Its vendors have neither budged on price nor sold, as the property is now number two on the list and is still offered with a 20% discount.
On SQM's recent list of the most discounted properties in Queensland, the number-one property, 121 Treasure Island Avenue, Karragarra Island, is offered at a 40% discount on its original price hopes of $335,000.
The most discounted property in Victoria, according to SQM, is 1365 Ballan Road, and is offered at a 25% discount on its original price hopes.
And SQM's report on the most discounted properties in NSW shows that the number-one property, 1302 Birkdale Place, Magenta, is currently offered with its price hopes 36% reduced.
1
31 Chinner Road, Lake Bennett, NT, 0822
On the market since: February 11, 2012
Initial asking price: $369,000
Current asking price: $290,000
Reduction: 21%
Days on market: 56
2
35 Flinders Drive, Stuart Park, NT, 0820
On the market since: November 13, 2010
Initial asking price: $1.15 million
Current asking price: $925,000
Reduction: 20%
Days on market: 511
3
29 Bayview Boulevard, Bayview, NT, 0820
On the market since: April 9, 2011
Initial asking price: $1.9 million
Current asking price: $1.6 million
Reduction: 16%
Days on market: 203
4
890 Chinner Road, Lake Bennett, NT, 0822
On the market since: October 29, 2011
Initial asking price: $579,000
Current asking price: $495,000
Reduction: 15%
Days on market: 161
5
2916/485 Dundee Road, Dundee Beach, NT, 0840
On the market since: May 7. 2011
Initial asking price: $519,000
Current asking price: $450,000
Reduction: 13%
Days on market: 336
6
273/8 Gardiner Darwin, NT, 0800 (pictured)
On the market since: February 6, 2010
Initial asking price: $1.25 million
Current asking price: $1,086,195
Reduction: 13%
Days on market: 791
7
4100 (l2943) Fog Bay Road, Dundee Beach, NT, 0840
On the market since: June 11, 2011
Initial asking price: $400,000
Current asking price: $350,000
Reduction: 13%
Days on market: 301
8
86/9 Carey Street, Darwin, NT, 0800
On the market since: January 15, 2011
Initial asking price: $639,000
Current asking price: $559,500
Reduction: 12%
Days on market: 322
9
22/68 Ryland Road, Millner, 0810
On the market since: May 21, 2011
Initial asking price: $410,000
Current asking price: $359,000
Reduction: 12%
Days on market: 322
10
40 Lot 3760 Launceston Road, Dundee Beach, NT, 0840
On the market since: January 30, 2010
Initial asking price: $495,000
Current asking price: $439,000
Reduction: 11%
Days on market: 798
SQM Research also offers a list of the Top 100 Biggest Bargains in Australia for sale.
