Home sellers slash prices

A two-bedroom sub-penthouse apartment in this luxurious Ruthven St complex has dropped in price by $76,000.
A two-bedroom sub-penthouse apartment in this luxurious Ruthven St complex has dropped in price by $76,000. Contributed

TOOWOOMBA home sellers are resorting to aggressive discounting to push their properties to the front of the pack.

A list of the city's 10 most discounted properties includes everything from a wooden shack to a jacuzzi-enhanced inner city apartment.

There is one common theme - the owners want to sell and they are not afraid to slash prices to make it happen.

"The market is always moving backwards and forwards, but sellers have had a reality check recently," The Real Estate People agent Heath Mengel said.

A lull in sales has meant dreams are going cheap in Toowoomba.

The most heavily discounted property on the market at the moment is a duplex at 68 Hursley Rd in Newtown.

The seller has cut the price of the two-bedroom unit and studio apartment package by more than 18%, dropping the price by $66,000 to $299,000.

The property has been on the market for more than 18 months, forcing the seller to resort to "desperate measures".

Toowoomba's second most discounted property is a four-bedroom Mt Kynoch home with some of the best escarpment views Toowoomba has to offer.

The owners have slashed the price by $100,000 - a 16.8% drop from $595,000 to $495,000.

The home has been on the market for more than a year.

Mr Mengel said the prices would not last long.

"Sales always pick up in spring so I think we'll be seeing a lot more interest and probably higher prices," he said.

Top 10 discounted homes

1. 1 and 2 68 Hursley Rd, Newtown  

from $365,000 to $299,000

18.1% drop

2. 80 New England Hwy, Mount Kynoch

from $595,000 to $495,000

16.8% drop

3. 809/532 Ruthven Street            

from $465,000 to $389,000

16.3% drop

4. 7 Olympus Court, Toowoomba     

from $480,000 to $420,000

12.5% drop

5. Lot 4/484 West St, Kearneys Spring 

from $295,000 to $259,000

12.2% drop

6. 17 Wilson Street, Rangeville       

from $585,000 to $520,000

11.1% drop

7. 164 E. Drews Road, Wellcamp        

from $995,000 to $890,000

10.6% drop

8. 34 Tourist Rd, East Toowoomba    

from $1,070,000 to $995,000

7% drop

9. 2/402 Alderley St, Kearneys Spring 

from $320,000 to $299,000

6.6% drop

10. 98 Luck Street, Drayton         

from $173,850 to $164,800

5.2% drop

Topics:  home owners, towoomba



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