A FIRM FAVOURITE

There is one Glenorchy municipality suburb where it is next to impossible to buy a house at a bargain price — Montrose

FOR those looking to buy a home at Montrose in Hobart’s northern suburbs, don’t expect to squeeze the owner for a discount.

Montrose came out on top of CoreLogic RP Data’s monthly rankings of the smallest and largest average vendor discount figures for the 12 months to July.

CoreLogic tracks the difference between the original asking price of a property for sale and the eventual sale price of houses and units, which is represented by a percentage.

In Montrose, the discount was 0 per cent.

There were seven southern Tasmanian suburbs that recorded discounts below 2 per cent.

After Montrose the next smallest discounts were found in Goodwood (0.5 per cent), Warrane (1 per cent), New Town (1.4 per cent), Honeywood (1.5 per cent), Maydena (1.5 per cent) and Ranelagh (1.8 per cent).

At the opposite end of the scale, Lachlan homeowners recorded a discount of 9.7 per cent and Seven Mile Beach 15.4 per cent.

There are currently just seven properties for sale in Montrose — two houses, two units and some land.

Of the houses, one is a fully renovated 1950s two-bedroom home in Riverway Road listed at “Offers over $305,000”.

The other house is a four-bedroom home in Nambour Place listed at “Offers over $345,000” on realestate.com.au

The units range from $175,000 to $215,000, and the land from $99,000 to offers over $135,000, to an expressions of interest sale for a 4000 square metre parcel of land, which has previously had plans drawn up for a dozen units.

Vendor discounts for houses in the city ranged from 2.1 per cent in North Hobart to 4.2 per cent in West Hobart.

For units the split was 2.2 per cent for the suburb of Hobart, up to 5.7 per cent for West Hobart.

In Tassie’s premium suburbs, Battery Point units were sold at a discount of 2.7 per cent. House data was unavailable. In Sandy Bay the discount was 3.3 per cent for houses and 4.6 per cent for units.

CoreLogic’s average vendor discount percentages are an average of all private treaty sales that sold for less than their initial asking price during the previous 12 months.

Houses that were sold for more than the asking price, auction listings and listings that appear without an advertised asking price are excluded from the calculation.