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The Next Level in Black Friday Deals

In what's billed as the biggest Black Friday deal ever, a Melbourne Property Developer Offers $100,000.

As the housing market cools, developers and agents have been forced to offer sweeteners sometimes worth tens of thousands of dollars, ranging appliance packages and rental guarantees to stamp duty payments.

Caydon Property Group is taking that to the next level by taking part in the global Black Friday shopping event, in what it’s describing as an “industry first”.

From 6am AEDT on Friday, buyers will be able to book one of 100 “VIP appointments” on the developer’s website to “lock in the savings” on one of eight projects in Cremorne, Moonee Ponds, Ivanhoe, Northcote, Preston and Flemington.

Caydon international marketing director Steve Williams said there had already been strong interest in the deal with more than 5000 visits to the website, which he said was “fairly robust” and should hold up under the traffic.

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Mr. Williams said across the portfolio there were five apartments or townhouses that had a $100,000 price reduction. “Every apartment has a discount of at least 5 per cent, then some are up to 10-11 per cent,” he said.

Mr. Williams denied the move was desperate. “This is in no way anything other than being innovative and trying out the seasonal approach,” he said.

Sucker Trap

I sense desperation. Regardless, 5-11% off is no super deal. It's a sucker trap.

Mike "Mish" Shedlock