Wednesday, 5 October 2011

Tracking Real Estate prices: part 2

Following on from part 1, I viewed 66A Excelsior Street, Shenton Park in November 2010. A very nice place; West-facing and located opposite Lake Jualbup. However, it only has 2 (overly large) bedrooms and, although well-designed, the quality of some of the finishes is disappointing.

The asking price then was $1 950 000 (sale by set date, all offers presented 23rd November 2010; page 11 of Residential West Magazine #140 November 9 2010) — which is a lot for a 2 bedroom townhouse.

A Google search shows the history of how the asking price of this has reduced with time:
  • $1 850 000
  • $1 850 000 Sale by Negotiation
  • $1 750 000—$1 850 000
  • $1 650 000
Today the price is $1 595 000, an asking price reduction of $355 000 in 11 months ...

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