NSW Central Coast market in a slump as vendors offer discounts: SQM Research

NSW Central Coast market in a slump as vendors offer discounts: SQM Research
Louis ChristopherDecember 8, 2020

Properties on the Central Coast and in the Blue Mountains dominate SQM Research's top 10 most discounted properties in New South Wales, with four out of the 10 on the Central Coast and two in the Blue Mountains. Nine out of the 10 properties have lingered on the market for more than 100 days. 

"We have long been saying that NSW's Central Coast has been suffering somewhat of a slump in property prices in recent years, with an influx of homes entering the market from this region in 2010 and 2011," SQM director Louis Christopher says.

"It is fair to assume that this particular area's initial popularity (approximately in between 2002- 2007) has begun to wear off a little."

Although a few high-end Sydney properties feature on the list, Christopher suggests that Sydney property prices will outperform those of other capitals in the near future. 

"As a general overview, SQM Research forecasts New South Wales, particularly Sydney's property prices, to do relatively better than other capital cities," he says.

"We predict marginal declines of up to 4% for this calendar year with the potential that the marker may just end up being flat for the year."

1

3 Boolari Road, Gosford West, NSW, 2250

On the market since: July 8, 2009

Initial asking price: $990,000

Current asking price: $580,000

Reduction: 41

Days on market: 815

 

2

9 Brentwood Avenue, Blackheath, NSW, 2785

On the market since: February 26, 2011

Initial asking price: $1.45 million

Current asking price: $990,000

Reduction: 31%

Days on market: 217

 

3

23 Hill Street, Leichhardt, NSW, 2040

On the market since: April 23, 2011

Initial asking price: $1.185 million

Current asking price: $850,000

Reduction: 28%

Days on market: 161

 

4

505/1-9 Torrens Avenue, The Entrance, NSW, 2261

On the market since: April 24, 2010

Initial asking price: $479,950

Current asking price: $349,000

Reduction: 27%

Days on market: 525

 

5

2/18 Campbell Crescent, Terrigal, NSW, 2260 (pictured)

On the market since: December 11, 2010

Initial asking price: $1.99 million

Current asking price: $1.45 million

Reduction: 27%

Days on market: 294

 

6

4/118 Ocean Parade, Blue Bay, NSW, 2261

On the market since: March 19, 2011

Initial asking price: $1.29 million

Current asking price: $950,000

Reduction: 26%

Days on market: 196

 

7

870 Barrenjoey Road, Palm Beach, NSW, 2108

On the market since: January 29, 2011

Initial asking price: $1.2 million

Current asking price: $900,000

Reduction: 25%

Days on market: 245

 

 

8

105 North Steyne, Manly, NSW, 2095

On the market since: July 16, 2011

Initial asking price: $3.6 million

Current asking price: $2.7 million

Reduction: 25%

Days on market: 77

 

9

1/43 Memorial Avenue, Blackwall, NSW, 2256

On the market since: May 28, 2011

Initial asking price: $340,000

Current asking price: $260,000

Reduction: 24%

Days on market: 126

10

34 Lawson View Parade, Wentworth Falls, NSW, 2782

On the market since: October 30, 2010

Initial asking price: $1.95 million

Current asking price: $1.5 million

Reduction: 23%

Days on market: 336

 

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

Louis Christopher

Louis Christopher is the director of research house SQM Research.

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