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Brisbane’s biggest house price discounts

first_imgA massive 31 suburbs in Greater Brisbane have seen buyers negotiate double-digit discount percentages for houses. Picture: iStockThe biggest property discounts in the country have come out of four Queensland suburbs.Latest data shows that two of those were in Greater Brisbane — with massive 50 per cent discounts on units in Rochedale and Loganlea — but the capital city region was now showing very strong house price cuts too.A massive 31 Brisbane suburbs showed original list prices for houses discounted by double-digit percentages this past year, exclusive analysis of CoreLogic data found (full list at end of story).Bargain hunters struck gold in Blacksoil in Ipswich where listing prices were slashed by over a third (-38.3 per cent median discount) — the highest discount for houses in Greater Brisbane.Sellers in Burbank gave away the second highest house price discounts (-20.9 per cent) followed by Upper Brookfield (-20.0 per cent), while two Moreton Bay suburbs were also in the mix: Draper (-20.1 per cent) and Stanmore (-20.1 per cent). NATIONAL: TOP 4 DISCOUNTERS HOUSES This house in Burbank sold for $930,000 in September — a vendor discount of $69,000 or almost 7 per cent below its original listing price. Picture: Realestate.com.auUnit market discounts were strongest in Rochedale (-50 per cent), followed by East Brisbane (-19.8 per cent), Tarragindi (-13 per cent), Red Hill (-12.1 per cent), Milton (-12 per cent), Holland Park (-11.5 per cent), Carindale (-11 per cent) and Herston -10.5 per cent). The data showed property owners in many middle-income Brisbane suburbs were willing to adjust price expectations after listing their properties for sale. Burbank H -20.9% Upper Brookfield H -20.0%Indooroopilly H -13.5%Kenmore Hills H -12.1%Pullenvale H -11.7%Dutton Park H -11.1%Grange H -11.1%Richlands H -11.0% UNITS Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:51Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:51 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p432p432p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenStarting your hunt for a dream home00:51 Savvy bargain hunters across the capital city drew much bigger discounting off 16 Brisbane Council suburbs — half of which was for houses and half for units.The median discount on original house prices in Upper Brookfield was -20 per cent, Indooroopilly -13.5 per cent, Kenmore Hills -12.1 per cent, Pullenvale -11.7 per cent, Dutton Park -11.1 per cent, the Grange -11.1 per cent and Richlands -11 per cent. Rochedale (Brisbane) U -50.0%Balgal Beach (Townsville) U -50.0%Loganlea (Logan) U -48.8%Wowan (Banana) H -47.8% (Source: CoreLogic Market Trends) BRISBANE REGION: DOUBLE-DIGIT HOUSE DISCOUNTERS (31 suburbs with the biggest house price discounts in the Brisbane region) BRISBANE CITY DISCOUNTERS: More from newsParks and wildlife the new lust-haves post coronavirus15 hours agoNoosa’s best beachfront penthouse is about to hit the market15 hours ago Blacksoil (Ipswich) -38.3%Burbank (Brisbane) -20.9%Draper (Moreton Bay) -20.1%Stanmore (Moreton Bay) -20.1%Upper Brookfield (Brisbane) -20.0%Riverbend (Logan) -18.8%Wolffdene (Logan) -16.8%Moores Pocket (Ipswich) -16.4%Mount Mee (Moreton Bay) -16.4%Forestdale (Logan) -16.3%Yugar (Moreton Bay) -15.4%Whiteside (Moreton Bay) -15.3%Bannockburn (Logan) -14.4% East Ipswich (Ipswich) -14.1%Ebenezer (Ipswich) -13.8%Lamb Island (Redland) -13.7%Indooroopilly (Brisbane) -13.5%Camp Mountain (Moreton Bay) -13.2%Windaroo (Logan) -12.7%Grandchester (Ipswich) -12.1%Kenmore Hills (Brisbane) -12.1%Mount Nebo (Moreton Bay) -11.9%Pullenvale (Brisbane) -11.7%Dutton Park (Brisbane) -11.1%Grange (Brisbane) -11.1%Moorina (Moreton Bay) -11.0%Richlands (Brisbane) -11.0%One Mile (Ipswich) -10.8%Stockleigh (Logan) -10.6%Russell Island (Redland) -10.5%Muirlea (Ipswich) -10.0% (Source: CoreLogic) A townhouse in this block at Moggill Road, Indooroopilly, sold for $527,500 on November 8 — about $21,000 or about 4 per cent less than its first minimum listing price. Picture: realestate.com.auCoreLogic research analyst Cameron Kusher told The Courier-Mail the discounts were rising off an overall market slowdown.“All data points to the fact that as a whole the Brisbane market has slowed,” he said. “As a result there will be some suburbs where there are big discrepancies between vendor and purchaser price expectations.”CoreLogic found that in the past three months, 65.7 per cent of properties sold for less than the original list price, with the average discount on asking prices at 5.7 per cent. Rochedale U -50.0%East Brisbane U -19.8%Tarragindi U -13.0%Red Hill U -12.1%Milton U -12.0%Holland Park U -11.5%Carindale U -11.0%Herston U -10.5% (Source: CoreLogic)last_img

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