No.420 Brooker Hwy, Derwent Park is looking for a buyer with $650,000 to spend. Picture: realestate.com.au
A THREE-bedroom red brick home in Derwent Park has been looking for a buyer for 4.87 years.
No.420 Brooker Hwy first hit the market, pre-Covid, in November 2019.
Well-located, the house is about 13 minutes’ drive from Hobart’s CBD or nine minutes from Glenorchy’s shopping and service precinct.
Its previous sale price was $231,000 in 2015, per property records. Today, the tenanted property is listed for sale at $645,000.
Real Estate Institute of Tasmania figures show only a few houses sell each year in this suburb.
Last year and the year before, there were just four and three transactions. 2021 was busier with 12 sales.
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No.420 Brooker Hwy, Derwent Park.
REIT 2024 stats show seven sales so far at a median price of $505,000. Their average time on the market was 52 days and the top sale was $745,000.
The Mercury reached out to the owner of No.420 Brooker Hwy for comment.
PropTrack economist Paul Ryan said a few things could lead to a property remaining on the market for longer than expected.
“Market conditions can play a part. When prices are flat or going down, it can take longer for sellers to adjust their expectations,” he said.
“The properties may also be unique or in an area that is not a typical place for buyers to be looking, which is why regional areas can take longer.
“It could also be the case that a property has been on the market so long that it becomes a self-fulfilling prophecy, so to speak.”
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First-time buyer ends home search in unexpected spot
No.40 Cobbs Hill Rd, Bridgewater.
No.2176 Channel Hwy, Snug.
Tasmania’s next longest listing was No.40 Cobbs Hill Rd in Bridgewater, a large five-bedroom family home set on almost 9500sq m of land.
realestate.com.au records say it has been for sale since February 2022, some 958 days on the market.
Its owners are seeking “Offers over $995,000”.
The third-longest listing is a Federation-inspired Californian bungalow in city-side Dynnyrne.
It has leadlight windows, high ceilings, a covered porch and detailed fretwork — the price is “Offers invited”.
About 50km out of Hobart, a single-bedroom, single-bathroom tiny house on a leafy 13.5ha is on the market for $558,000-plus. That is a $40,000 reduction.
“If you have been looking to get back to nature, to relax and unwind, to enjoy a slower pace, to have your own private land amid wilderness, then look no further,” its listing says.
No.671 Kellevie Rd, Kellevie.
No.9 Dylan St, Brighton.
A handful of the homes on this Top 7 list have prices above $1m, including one in Sandy Bay and another in Snug.
No 9 Dylan St, Brighton tops the table with a $2m-plus price tag.
This 1ha property features a five-bedroom home that has, in the past, generated a $30,000 per annum income.
Its listing also hints at development potential amid the suburb’s rapid growth that includes a new high school and a multimillion-dollar sports precinct.
No.45 Proctors Rd, Dynnyrne.
No.3 Ilfracombe Cres, Sandy Bay.
Real Estate Institute of Australia president Leanne Pilkington said there was really only one reason why a property was stuck on the market — the owner wanted more money than the buyers thought it was worth.
“It’s always price; anything will sell if it’s the right price,” Ms Pilkington said.
“Each property has got different challenges. So there might be busy roads, there might be potential development happening around it. It could be all kinds of reasons, but the price fixes any of those problems. There’s a buyer for everything at the right price.”
Tassie’s seven longest for sale listings
Property ID, address, days on market
132479010 420 Brooker Hwy, Derwent 1778
138540011 40 Cobbs Hill Rd, Bridgewater 958
139052603 45 Proctors Rd, Dynnyrne 906
139092031 671 Kellevie Rd, Kellevie 900
140240203 2176 Channel Hwy, Snug 763
140256343 9 Dylan St, Brighton 761
140685043 3 Ilfracombe Cres, Sandy Bay 710
Source: realestate.com.au time on market data, til October 1
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