Queensland dominates the list of the most discounted properties nationwide, taking out six of the top 10 spots, according to new research from SQM.
The property at 22 White Street in Bundamba, Queensland underwent a 52 per cent discount from its original asking price of $425,000, the biggest percentage cut in the country.
The largest dollar value discount went to 61 Vista Avenue in Copacabana, New South Wales, which dropped by $690,000 to the current asking price of $1,100,000.
Island properties in the sunshine state also fared badly, with two homes on Lamb Island and one on Moreton Island discounted by 40 to 41 per cent.
Rural properties made up a majority of the list, with homes in Doolandella in Queensland, Berowra Waters in New South Wales and Glenorchy in Tasmania all dropping their listing prices between 30 and 40 per cent.
However, two outer suburban areas - Queensland’s Scarborough and Victoria’s Deer Park - also made the top 10.
Unit 29/146 Prince Edward Parade in Scarborough was originally listed for $1,490,000, but the current asking price is $995,000.
Meanwhile, 37 Canterbury Street in Deer Park underwent a 32 per cent discount from its original asking price of $398,000.