Links Sundrive Road, Rush (-301k, - 35.4%)

There are 5 brand new houses together in Rush close to the Beach. They have been for sale for a long time (probably close to a year) but none have been sold yet. DNG and Kelly Co are the 2 agents trying to sell them. They were initially priced at 850,000. This morning DNG reduced to 820,000.

However, if you do a search on Myhome you’ll see that Kelly Co are selling them for 798,000. They reduced their price from 850,000 to 798,000 a few weeks ago. I’ve look at the houses and I can’t see any difference to any of them so I doubt if DNG are selling better ones!!!

Anyway, 798,000 is still too expensive. Any they have very low stamp duty so the recent changes won’t make any difference!!

DNG have now reduced their price to 750,000 which is now the same as what Kelly Co is selling the same houses for … and guess what…they still won’t sell at this price.

They have marked it down as reduced to sell. They would need to reduce to 600,000 to sell…

They reduced from 850,000 to 820,000 since the start of the year and have dropped another 70,000 yesterday…somebody is getting desperate… … WJUV331545

What’s interesting with these houses is that they are owned by brothers and sisters. 3 of the houses are with one agent and 2 are with the other agent. All houses are at 750,000 now. They are all indentical in size, orientation etc, however, the group of 3 houses have much larger gardens and also have an office/play room at the bottom of the garden. DNG are selling the ones with the smaller gardens and Kelly Co are selling the ones with the bigger gardens. So DNG have zero chance of selling until the other 3 houses are sold so need to reduce their price lower than Kelly Co prices.

As they have been on the market for a long time I don’t think anybody wants to buy the first house unless it’s an absolute bargain. They certainly won’t get 750,000 for them.

The competition is on…the other agent has now dropped the price to 720,000… … VGCX340279

Property above is now 698k

they have now dropped to 649,500 that is a drop of 200,500 from the price mentioned at the start of this thread.


dropped down to 595k

by the way cant get the link to work

Asking 850k mid 2007, expecting maybe 900k?, now asking 595k, expecting say 540k?. Expectation drops 410k? or 450k from peak

Drops are bigger than we know. Lack of information.

Now 549k