A Perth property has languished on the market for well over 300 days now however the owners sure as fark ain’t backing down on their absurd asking price. Maintaining that the right sucker hasn’t come along yet.
According to SQM Research figures, the number of stale property listings has increased by 14% by the end of 2022, which is largely due to vendors listing their properties for well above market value. We spoke to the owner who said the market just hasn’t woken up to their gem,
“Who is the MARKET to tell me my shithole on a tiny plot isn’t worth $900k? What does the market know anyway? They told me maybe reducing the price down to $600k would get a few bites but I told them the bubble hasn’t popped yet sonny!”
The 300 sqm property has been described as a “renovator’s dream”, a “character house” and a “great buy for a motivated individual”. It features minimal asbestos, a light bit of sinkage in the backyard and a bit of an issue with aeroplane noises.
Like many homeowners, this cretin attempted to take advantage of the post-pandemic Perth property value surge. Alas, the looming spectre of continued interest rate rises means punters are being far more careful about the economics of their investment.
We spoke to the real estate agent who has been tasked with flipping this overpriced hovel. They told The Times,
“The owner has instructed us to be very cagey about the asking price. We’ve had a few people’s curiosity get the better of them but when they inspect the property they just say WTF and threaten to smash a brick through my windscreen for wasting their time”
The owner has vowed to never lower the asking price and if worse comes to worst they’ll just rent it out for $800pw – just don’t tell the tenants about the previous tenant’s meth lab in the kitchen.
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