Longreach sits amid Investar's 10 most distressed localities

Longreach sits amid Investar's 10 most distressed localities
Longreach sits amid Investar's 10 most distressed localities

Longreach sits amid Investar's 10 most distressed localities. It is among the four Queensland locailities in the list. Investar put the distress rate at 48 percent in Longreach.

Thornton from NSW topped the lis, with Hinchinbrook the only other NSW entry.

The list was produced using live on the market rental and sales listing data including distressed sale condition keyword analysis.

It identified listings with one or more keywords that would indicate an increased level of seller motivation and calculated this as a percentage of total listings on the market.

This data is designed to identify suburbs with the highest percentage of potentially distressed price stock based on the descriptions used by agents and vendors.

Current examples at Longreach include 177 Kingfisher Street which is advertised as having a "drastically reduced $299,000" sale price. Its initial asking price was $350,000. It was bought for $355,000 in 2012.

 

Suburb State Postcode Dwelling Type Bedrooms % of Listings Days on Market Median Price Median Price Growth 1 yr median rent Rental Yield median rent Growth 1 yr

1 THORNTON NSW 2322 House 3 76.29% 63 $373,500 9.05% $350 4.87% 2.94%

2 NOLLAMARA WA 6061 Unit 3 60.47% 112 $410,000 -8.69% $380 4.81% -9.53%

3 KILMORE VIC 3764 House 4 56.32% 131 $340,000 5.10% $340 5.20% 3.03%

4 BRACKEN RIDGE QLD 4017 Townhouse 3 50.00% 126 $325,000 0.00% $375 6.00% 2.73%

5 SCARNESS QLD 4655 House 4 50.00% 298 $327,000 -2.39% $330 5.24% -1.50%

6 LONGREACH QLD 4730 House 3 48.72% 563 $255,000 -3.78% $250 5.09% -9.10%

7 COOKTOWN QLD 4895 House 2 48.00% 338 $320,000 0.00% $275 4.46% 1.85%

8 MOUNT TARCOOLA WA 6530 House 3 47.37% 178 $299,000 -12.71% $300 5.21% -11.77%

9 HINCHINBROOK NSW 2168 House 3 43.75% 71 $600,000 3.53% $460 3.98% 2.22%

10 EAST BUNBURY WA 6230 Unit 3 43.48% 124 $299,500 -11.92% $330 5.72% 3.12% 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Tags: 
Property market Residential Investment

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