Central Coast still heavily represented on SQM's most discounted properties in NSW list
Central Coast properties make up a large portion of SQM Research's list of the top 10 most discounted properties in New South Wales.
The list features one property in Magenta, one in Gorokan and two in Green Point. The last time the research firm compiled a NSW most discounted list, in October last year, there were also four Central Coast properties on it. However, no Central Coast properties are repeated from October's list.
Last year's list featured two Blue Mountains properties, whereas this time around there is just one, 9 Brentwood Avenue, Blackheath, which has been on the market since February last year and featured on October's list.
Four other discounted properties on the New South Wales list are in the Sydney suburbs – Thornleigh, Bondi Junction, Clovelly and Kyeemagh – but SQM director Louis Christopher says Sydney has been spared the price reductions apparent in many other capitals. None of these properties featured on the October list.
"Sydney appears to be suffering a little less than other capital cities in terms of recent house price declines, which is of course in many ways good news to current Sydney home owners," Christopher says.
"Many of the homes on this list are not located in the capital city's inner and middle rings but rather in less populated localities in New South Wales where the market is obviously not as high in demand as it appears to be towards the inner-urban areas."
1
1302 Birkdale Place, Magenta, NSW, 2261
On the market since: June 17, 2008
Initial asking price: $700,000
Current asking price: $450,000
Reduction: 36%
Days on market: 1,341
2
26a Paling Street, Thornleigh, NSW, 2120
On the market since: May 16, 2009
Initial asking price: $1.1 million
Current asking price: $730,000
Reduction: 34%
Days on market: 1,008
3
257 Avoca Drive, Green Point, NSW, 2251
On the market since: May 22, 2010
Initial asking price: $1.3 million
Current asking price: $879,000
Reduction: 32%
Days on market: 637
4
3 Wharf Road, Green Point, NSW, 2251 (pictured)
On the market since: March 5, 2011
Initial asking price: $950,000
Current asking price: $649,000
Reduction: 32%
Days on market: 350
5
120 Glendiver Road, The Oaks, NSW, 2570
On the market since: October 15, 2011
Initial asking price: $1,595,000
Current asking price: $1.1 million
Reduction: 31%
Days on market: 126
6
9 Brentwood Avenue, Blackheath, NSW, 2785
On the market since: February 26, 2011
Initial asking price: $1,425,000
Current asking price: $990,000
Reduction: 31%
Days on market: 357
7
69/257 - 269 Oxford Street, Bondi Junction, NSW, 2022
On the market since: February 12, 2011
Initial asking price: $2.5 million
Current asking price: $1.75 million
Reduction: 30%
Days on market: 371
8
18 Marks Road, Gorokan, NSW, 2263
On the market since: July 1, 2009
Initial asking price: $640,000
Current asking price: $450,000
Reduction: 30%
Days on market: 962
9
103 General Holmes Drive, Kyeemagh, NSW, 2216
On the market since: June 25, 2011
Initial asking price: $1.4 million
Current asking price: $1 million
Reduction: 29%
Days on market: 238
10
26/44 Melrose Parade, Clovelly, NSW, 2031
On the market since: August 13, 2011
Initial asking price: $1,295,000
Current asking price: $959,000
Reduction: 26%
Days on market: 189
SQM Research also offers a list of the Top 100 Biggest Bargains in Australia for sale.