NSW Central Coast dominates top 10 longest property listings

NSW Central Coast dominates top 10 longest property listings
Jonathan ChancellorAugust 2, 2011

The 2261 postcode – on the Central Coast in New South Wales – dominates the list of the top 10 longest property listings produced by SQM Research.

The listings date back to 2008.

The listings are at Long Jetty and Magenta.

“SQM Research has explored this theme before and what we have found most interesting is that often the properties that have been sitting on the market the longest aren’t actually the most discounted,” says SQM director Louis Christopher.

“In fact, only one of the properties featured in the list has featured in our top 10 most discounted properties at Swan View.

“Most of the stale homes have only been discounted minimally if at all,” Christopher says.

Some of these properties might have been withdrawn temporarily and put back on the market at some point during the time they have been listed, he says.

“It’s almost considered common sense – not only to the astute investor that if your property is not selling after a considerable amount of time on the market, it may be a good idea to lower your asking price.

“When you have properties such as 188 Liverpool Road Goolwa, which have been sitting on the market for over 1000 days yet only discounted by 16%, one can't help but feel very little sympathy for vendors who obviously can see that their current asking price isn't working for them and still refuse to bite the bullet and slash it,” Christopher says.

1

11 Ottiwell Street, Woorim, QLD, 4507

On the market since: April 19, 2008

Initial asking price: $560,000

Current asking price: $499,000

Reduction: 11%

Days on market: 1,192


2

188 Liverpool Road, Goolwa, SA, 5214

On the market since: April 24, 2008

Initial asking price: $950,000

Current asking price: $800,000

Reduction: 16%

Days on market: 1,187


3

19 Wellington Street, Oatlands, TAS, 7120

On the market since: May 22, 2008

Initial asking price: $260,000

Current asking price: $205,000

Reduction: 21%

Days on market: 1,159


4

1403 Magenta Drive, Magenta, NSW, 2261

On the market since: May 22, 2008

Initial asking price: $600,000

Current asking price: $535,000

Reduction: 11%

Days on market: 1,157


5

290 Viveash Road, Swan View, WA, 6056

On the market since: June 5, 2008

Initial asking price: $2.29 million

Current asking price: $1.5 million

Reduction: 34%

Days on market: 1,145

 


6

4/57-59 Eloora Road, Long Jetty, NSW, 2261

On the market since: June 5, 2008

Initial asking price: $379,000

Current asking price: $340,000

Reduction: 10%

Days on market: 1,143


7

1302 Birkdale Place, Magenta, NSW, 2261

On the market since: June 17, 2008

Initial asking price: $700,000

Current asking price: $500,000

Reduction: 29%

Days on market: 1,131


8

15/57-59 Ocean Parade, The Entrance, NSW, 2261

On the market since: June 19, 2008

Initial asking price: $289,000

Current asking price: $259,000

Reduction: 10%

Days on market: 1,129

 

9

30 Charles Street, Triabunna, TAS, 7190

On the market since: June 22, 2008

Initial asking price: $235,000

Current asking price: $195,000

Reduction: 17%

Days on market: 1,128


10

22 Beach Street, White Beach, TAS, 7184

On the market since: July 1, 2008

Initial asking price: $250,000

Current asking price: $195,000

Reduction: 22%

Days on market: 1,119

SQM Research also offers a list of the Top 100 Biggest Bargains in Australia for sale.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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