NSW Central Coast dominates top 10 longest property listings
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Some of these properties might have been withdrawn temporarily and put back on the market at some point during the time they have been listed, he says.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.