SQM Research Weekly Newsletter

SQM Research Newsletter - Tuesday 26th July, 2016

Property Valuations

Research Reports

Discounted/ Distressed Properties

Funds Research

Black Dragon's
Words for the Week

" The young man knows the rules, but the old man knows the exceptions "

– Oliver Wendell Holmes, Sr.

Rude Real Estate Realities

Unless you have been living under a rock for the past two weeks, you would be well aware of the popularity of Nintendo’s Pokémon Go in Australia. The game, popular for its reinvention of 90’s classic TV show and brand Pokémon, lets people catch and train their own animated pokomon that are roaming at large. Whilst it is played with mobile phones, the game has received some praise for getting kids and adult players outside, as pokemon's are typically located near local attractions and monuments (officially referred to as ‘pokestops’). Unfortunately, the locations of these so called 'pokestops' have certain residents from the City of Canada Bay Council fed up. In particular, residents of Peg Paterson Park who claim to have been seriously affected by the large crowds of players flocking to their area. The large number of crowds have caused heavy traffic in the last couple of weeks, which reportedly was so bad that emergency services attending a call out in the area experienced serious delays. Seeking action, the council has now written to the developers asking for the removal of two of the three pokestops at the park. On the plus side, local business owners in Rhodes are happy as the large crowds have given a nice boost to the local economy. For more, clickhere.

Distressed Property of the Week

3/7 Annie Street, Woody Point, QLD 4019

click image to enlarge

THREE BEDROOM UNIT REDUCED BY $80,000!!

Today’s distressed property of the week comes to us from Woody Point, Queensland. The property is a three bedroom unit that was originally advertised for $595,000 back in August 2015. In late September 2015 the vendor reduced the price slightly, then again this month, reducing the property to just $515,000 - a total savings of $80,000!!!

The unit at hand is located on the ground floor at the rear of a small apartment complex. The unit consists of three large bedrooms (the main includes a walk-in-robe and en-suite), two bathrooms (en-suite in master with spa bath), large combined living and dining space, and modern kitchen with stone bench-tops and stainless steel appliances. The listings states that the unit features air-conditioning in the living room and master bedroom and secure underground parking. The unit boasts a convenient undercover terrace with easy to maintain gardens.

Woody Point is located a short 35 minute drive from Brisbane CBD, and a short 11 minute drive to upcoming Kippa-Ring train station. The unit is only a short stroll from popular coast line walking tracks and beaches, such as Bells Beach and Woody Point Jetty.

According to SQM Research, vacancy rates are at a low 1.4% for the area and asking rents for units have increased by 1.0% in the last twelve months. Gross rental yields for the area are currently showing a 4.1% return for units. As it stands, the current owners are asking for $27,500 above what the property sold for back in July 2009!

To get your hands on other distressed properties for sale like this one - check out our Distressed Properties Report HERE.

Top Ten Discounted Properties Nationwide

Welcome back property lovers! We have one new property to add to our nationwide top ten discounted properties list this week.

Coming in at number nine on our list is the luxurious 6 York Street, South Perth, WA. The property first came onto the market back in August 2015 with the vendor seeking buyers from $2.8 million. With no luck, the vendor slashed this price down to $2.5 million in February 2016, then again this month to just $2 million - a total reduction of $800,000!!!

The property is definitely not your typical three-bedroom home with three generous sized bedrooms, two & a half baths, office, master retreat and a double under-croft garage. The vendor says that the 'executive residence' has never been lived in, and is ‘second to none with luxurious and breathtaking features’. The home is modern with plenty of natural lighting and contemporary features including a modern terrace and garden with custom designed water feature. The kitchen is open plan with Miele kitchen appliances, ceaserstone bench tops, and walk in pantry. Bonus features include a six person lift, video intercom, reverse cycle air-conditioning, ducted vacuum system and plenty of space for storage.

The location is definitely a plus with local schools, shopping, restaurants, hospitals and attractions including the Swan River, Perth Zoo, the Royal Perth Golf Club, and the City all within close proximity. This is an ideal property for investors looking to sink their teeth into the Perth CBD market.

To get your hands on other discounted properties for sale - check out our Home Discounts Report HERE.

Rank	Address	Suburb	Postcode	Initial price	Now asking	Reduction	Days on Mkt	Link
1	82 Douglas Avenue	South Perth	6151	$1,950,000	$1,075,000	45%	117	link
2	2 Joy Street	Encounter Bay	5211	$650,000	$395,000	39%	714	link
3	36 Penzance Road	Eaglehawk Neck	7179	$429,000	$265,000	38%	427	link
4	S1500/8 Waterview Walk	Docklands	3008	$550,000	$349,000	37%	1251	link
5	196 Boehm Springs Road	Flaxman Valley	5235	$1,250,000	$850,000	32%	1047	link
6	135-147 Burke Road	Donnybrook	4510	$1,420,000	$1,000,000	30%	998	link
7	1110 Nar Nar Goon Longwarry Road	Garfield	3814	$1,200,000	$850,000	30%	1880	link
8	17 Turner Drive	Guilderton	6041	$630,000	$450,000	29%	697	link
9	6 York Street	South Perth	6151	$2,800,000	$2,000,000	28%	341	link
10	216 Old Ipswich Road	Riverview	4303	$599,000	$430,000	28%	458	link