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The continuation of construction jobs in the property industry looms as the big issue that will likely shape the 2020 property market trajectory.
Sydney apartment approvals have taken a dive and new house approvals are also in decline.
Only 830 attached dwellings were approved across Sydney in October, dramatically down on past Octobers.
The same month last year saw 2400 approvals, with 3700 in October 2017; 3100 in October 2016 and 4000 in October 2015. 
Sydney is not alone in declining approval figures with the trend apparent in Melbourne and Brisbane. 
The trend threatens employment continuity. Having a job ensures mortgage arrears remains low amid highly indebted households.
These building sites jobs are crucial to assist in the overall health of the wider economy.
The number of cranes on our skyline always provide an insight into the cyclical urban economic trends.
Interestingly the crane numbers in Sydney have yet to show any decline in 2019, in fact they have increased by nine to 319, according to the most recent quarterly edition of the RLB Crane Index.
The 2017 peak saw 350 Sydney cranes in the index, which began in 2012.
Residential cranes dominate with 73% of all cranes assisting in the construction of future dwellings.
The residential sector remained strong with 233 cranes, up one from six months ago. 
Strong growth within the commercial office sector saw an additional net six cranes.
Sydney saw 189 cranes added to sites indicating a strong forward workflow while some 180 cranes were removed from completed developments in the past six months.
Cranes across Sydney are following the significant spend on transport infrastructures, especially north along the Pacific Highway, west along Parramatta Road, northeast along the M2 and south along the Kingsway.
Crane activity has declined in the north, but risen in the south, the east and inner Sydney. 
The most significant addition was seven cranes at Meriton’s Pagewood Green. Crane removals saw four taken down at the Greenland’s development in North Ryde along with Ganellan’s nearby Delhi Road project.
Currently Sydney has 42% of all cranes erected nationally, while Melbourne contributes 28%, and Brisbane 7.5%.
Sydney’s dominance has fallen from the high of 52% in 2017.
In the first quarter of 2019 there were 735 cranes counted across Australia, with 530 for residential projects and 205 non-residential developments, including offices, transportation, hotels, education, health and retail.
There were no cities within the index that recorded crane falls in the double digits, a sign that the industry has not yet entered into the economic cycle of falling demand as predicted by some.
But continuity within the typical boom-bust building-buying cycle has never been easy.
And the emerging pipeline certainly doesn't look pretty. The national monthly building approvals have trended lower from about 20,000 to 13,000, which property commentator Pete Wargent suggested "looks very much like a recessionary trend".
Rolling annual approvals are now down from the 2016 peak of 242,000 to 173,000.
Of course securing rezoning and approvals take time. 
“It takes twice as long to have a DA processed in NSW as it does in Victoria and three times as long as in Queensland," Urban Taskforce CEO Tom Forrest said recently.
It is to be hoped the residential price growth experienced in recent months will reignite developer activity in buying sites for apartment construction.
All those tradies in their high visibility vests are counting on it. 
This article first appeared in The Daily Telegraph. 
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jchancellor-FAypfDUnLy

Fewer apartment approvals, but Sydney crane trends signal construction strength 

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Spring selling season brought a belated revival in prestige sales across Sydney, in a year when few of the big sales were on the harbour.
With just three weeks to go, 2019 will have recorded the cheapest tally of Sydney trophy home sales of the past seven years. My tally is $385 million, with a $15 million sale sufficient to qualify for the top 20.
Despite the 2018 downturn, last year there were 20 sales at $20 million or more, grossing $675 million, up from $550 million in 2017.
This year’s top five sales in 2019 all came in spring.
The top trophy home sale was $40 million in Point Piper when Westpac board member Steve Harker sold his harbourfront to entrepreneur and start-up investor Gabriel Jakob, co-owner of the Early Learning School company.
The low-key Harker sold on extended settlement terms, with the actual price only to emerge some time next year. Harker had owned the home since 1993 when he paid $2.01 million. The $40 million was nowhere near 2018’s top sale, the $100 million Fairwater on the Double Bay beachfront.
The low level of activity mimicked the overall vendor hesitancy across the entire market, with also an absence of international buyers in the market. Rose Bay was the surprise hot spot with four sales, followed by traditional streets of gold on the Point Piper peninsula­. Vaucluse and Darling Point, Mosman and Manly also had two sales each. There were eight true waterfronts on the list, along with a few waterfront reserve homes and those with harbour views.
The most intriguing sale was Bomera, the Italianate non-waterfront clifftop mansion at Potts Point that sold for $34 million. Its harbour views are often blocked by navy vessels berthed at Garden Island.
Leanne Catelan, daughter of late property data pioneer Ray Catelan, had bought it for $12.5 million in 2013 after it was renovated by property developer­ Jorge Fernandez, who had been guided in its restoration­ by former PM Paul Keating. I previously tipped Bomera as the perfect bolthole for steel baron Sanjeev Gupta — and, sure enough, he’s just downsized to Bomera from his Barford, Bellevue Hill $30,000-a-week rental.
Bomera (pictured top) was technically bought by a trust created under the local company directorship­ of society stockbroker Les Owen.
The second highest sale was when plastic surgeon Michael Miroshnik sold his Vaucluse non-waterfront home, designed by Kaintoch Design Studio, for $38 million to Sunny Ngai, whose family makes Quilton toilet paper.
On the pricey northern peninsula, Palm Haven, the Phillip Cox-designed beachfront home at Palm Beach sold to the property developing Roche family for $20.5 million. The trophy home (pictured below), bought as a weekender, ranks as the third-most expensive sale all time in Palm Beach.
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Amid the big hits, there’s also been plenty of misses. It was reported in August­ there had been a $60 million offer from a Hong Kong buyer for Ganeden, but the sale of the Vaucluse home of lawyer John Landerer hasn’t eventuated.
There were upsets too. Entrepreneur­ Alex Ma thought he secured $30 million for his Vaucluse home in March, but it appears not to be proceeding to settlement.
And there’s plenty of unsold stock that appears stuck on the market with pricing issues­.
This article first appeared in The Daily Telegraph. 
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Spring sees jump in trophy home sales in 2019's top 20

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The turmoil that followed the overnight departure of Gavin Rubinstein from Ray White Double Bay in April continues with yet another defection earlier this month.
Junior agent Sam Wells has quit the Ray White Double Bay agency to join Ray White TRG.
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<div dir="ltr" data-smartmail="gmail_signature">It was April when Gavin Rubinstein <a href="/news/gavin-rubinstein-departs-ray-white-double-bay">departed Double Bay</a>, where based on sales commissions he was the New South Head Road agency’s best performer.</div>
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The Double Bay boss Elliott Placks described his April departure as simply “a parting of ways” having initially describing the parting of ways as a “divorce”.
“It’s not an ugly divorce in any sense,” he reportedly said.
“Our values have shifted over the past six months and we’ve decided to part ways."
The initial Ray White TRG members of the team who now occupy a lavishly appointed Queen Street, Woollahra space were sales agents Cae Thomas, Oliver Lavers and Bradley Plos with operations manager Jerome Srot and executive assistant Remi Quinlivan.
Since the initial team departed along with Rubinstein, the Woollahra-based outfit has also secured the services of Evan Williams in August and Kate Zuppicich in October.
The managing director at Ray White TRG is Jarryd Rubinstein who joined last month from EverBlu Capital.
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Sam Wells departs Ray White Double Bay

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Estate agent Adrian Bo's career with McGrath, which began in 1994, has ended amid a disputed sexual harassment claim.
It was 30 years ago that he joined the real estate industry after briefly working at the Rivkin stockbroking firm on graduating from school.
He started in residential leasing.
He was part of the original foundation McGrath team, which made it harder for the agent to be told to go.
The chief of the luckless McGrath agency, Geoff Lucas announced on Tuesday evening that Bo’s contract had been terminated.
Lucas has since warned staff not to speak to the media on the matter in a leaked internal memo.
“If you are approached by any external party seeking comment or information with respect to the investigation, you are directed to provide no comment.
“If any employee provides comment in such circumstances it may result in disciplinary action.”
The memo also advised staff that any conversations about the investigation, the recommendations or findings are “unhelpful and hinder our ability to move forward as an organisation”.
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<div id="adspot-1x1_300x250-pos-2" class="ad">At the centre of the latest allegation was a disputed claim Bo recently asked a junior colleague “how many c–ks he had sucked?”</div>
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<div class="ad">The Daily Telegraph which broke the story last month had his departure as front page news today.</div>
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Bo took annual leave while the investigation by an HR consultant and an external lawyer was conducted.
Company founder John McGrath stepped into the role of head of sales as Bo and McGrath had briefly shared the role since Kon Stathopoulos departed in June.
The result of inquiry prompted the publicly listed board to terminate Bo’s contract late on Tuesday, effective immediately.
“The company takes its responsibilities of promoting inclusion and workplace safety seriously and will not tolerate breaches of its code of conduct by its contractors or staff members. I am personally committed to ensuring we have an environment that treats all workplace participants fairly and with respect,” Mr Lucas said in a brief 6pm statement.
In the internal email to McGrath staff, Lucas said: “I understand this process has been stressful for a number of people, and it has taken some time to arrive at this conclusion.
<div class="fe-co-email-widget" data-febuild-id="fe-co-email-widget_1">“However it has been important to protect the rights of all parties involved and critical that we followed an independent process complying with our code of conduct and the law.</div>
<div class="fe-co-email-widget" data-febuild-id="fe-co-email-widget_1"> </div>
<div class="fe-co-email-widget" data-febuild-id="fe-co-email-widget_1">“Behaviours such as bullying, harassment and unlawful discrimination are not acceptable at any time. I also want to take this opportunity to reassure you that we have robust HR processes in place to ensure you are provided with best and most supportive environment in which to undertake your work and career development."</div>
<div class="fe-co-email-widget" data-febuild-id="fe-co-email-widget_1"> </div>
<div class="fe-co-email-widget" data-febuild-id="fe-co-email-widget_1"><img src="https://www.urban.com.au/images/2019/12/4/Adrian%20Bo%20Telegraph.jpeg" alt=""></div>
<div class="fe-co-email-widget" data-febuild-id="fe-co-email-widget_1"> </div>
<div class="fe-co-email-widget" data-febuild-id="fe-co-email-widget_1">Bo sold thousands of apartments and homes during his McGrath career, with his celebrity clients having included Jennifer Hawkins and Jake Wall, Lisa Ho, Mike Willesee and Allyson Langdon, Brett Lee, David Warner and Candice Falzon and Richard Roxburgh and Silvia Colloca.</div>
<div class="fe-co-email-widget" data-febuild-id="fe-co-email-widget_1"> </div>
<div class="fe-co-email-widget" data-febuild-id="fe-co-email-widget_1">He created a database of all property owners he came across (excluding active buyers) which stood at 12,000 people in 2012, typically doing 10 sales a month from Bondi to Maroubra.</div>
<div class="fe-co-email-widget" data-febuild-id="fe-co-email-widget_1"> </div>
<div class="fe-co-email-widget" data-febuild-id="fe-co-email-widget_1">He was earning around $2 million a year in gross commissions at the time, which was well above the $60,000 average.</div>
<div class="fe-co-email-widget" data-febuild-id="fe-co-email-widget_1"> </div>
<div class="fe-co-email-widget" data-febuild-id="fe-co-email-widget_1">Bo has sold over $3.7 billion in gross volume of real estate and for 20 consecutive years has maintained a minimum of 100 transactions most recently generating $2.5 million to $3 million in gross commission income per annum.</div>
<div class="fe-co-email-widget" data-febuild-id="fe-co-email-widget_1"> </div>
<div class="fe-co-email-widget" data-febuild-id="fe-co-email-widget_1">In the past year Bo secured 110 sales totalling $145 million. 
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<div class="fe-co-email-widget" data-febuild-id="fe-co-email-widget_1"> </div>
<div class="fe-co-email-widget" data-febuild-id="fe-co-email-widget_1">Bo promoted himself as having "invaluable experience in residential and commercial sales, project marketing and property management."</div>
<div class="fe-co-email-widget" data-febuild-id="fe-co-email-widget_1"> </div>
<div class="fe-co-email-widget" data-febuild-id="fe-co-email-widget_1">But he once said "I see myself as a glorified telemarketer."</div>
<div class="fe-co-email-widget" data-febuild-id="fe-co-email-widget_1"> </div>
<div class="fe-co-email-widget" data-febuild-id="fe-co-email-widget_1">He added the best agents were "storytellers" - "not fictitious but real life situations."</div>
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Bo had been hand-picked and personally trained by John McGrath to become recognised as "one of Australasia’s top agents, auctioneers, real estate trainers and public speakers."
He had completed his MBA in 2013, with reputed hopes to run the McGrath empire at one point, only to see Geoff Lucas return to the struggling listed agency in February last year.
Bo had become co-head of sales when Kon Stathopoulos departed in June.
Stathopoulos became head of company sales in 2016 when McGrath Limited lost its longtime head of sales, Matt Lahood to The Agency.
The Lahood defection was among many that rocked the group with John McGrath, the founder and then executive director, noting he had <a href="/news/john-mcgrath-attacks-unsavoury-defecting-agents-and-pins-hope-on-new-real-estate-app">"zero respect for any of them."</a>
The McGrath agency recently left its long-time head office in Edgecliff in Sydney's eastern suburbs.
It has headed to inner-city Pyrmont, although it will take a presence in Double Bay to quell concerns that it could lose clients and disaffected agents.
The agency had already reduced the Edgecliff office size it required on New South Head Road last year in the wake of a high level of departures. 
The latest departure from the group was in its NSW Northern Rivers agency with <a href="/news/braden-walters-quits-mcgrath-byron-bay-for-belle">Braden Walters now at Belle Byron Bay/Lennox Head</a>.
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Adrian Bo departs McGrath after 25 years

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The cheapest weekend sale was in Blackett in Sydney’s west when $410,000 was paid for a redundant NSW Housing Department residence.
The three-bedroom Franklin Cres home sold through LJ Hooker Mount Druitt agent Deniz Sagin to an investor renovator. The home sits on a 645 sqm block with granny flat potential.
Mr Sagin advised post-renovation it could attract $380 a week rental, reflecting a 4.8 per cent rental yield before costs.
The suburb’s median price is $450,000, according to realestate.com.au, still well below its $545,000 boomtime 2017 median.
The next cheapest was $462,000 for a three-bedroom Tregear home, just 3km away.
The third cheapest sale was at Bondi Beach, snapped up pre-auction at $535,000. The one bedroom flat, last sold in 2008 at $235,000, was recently a $400-a-week rental, thereby reflecting a 3.9 per cent rental yield.
This article was first published in the Daily Telegraph.  
<a href="https://3franklincres-blackett.ljhooker.com.au/" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://3franklincres-blackett.ljhooker.com.au/&amp;source=gmail&amp;ust=1575329317106000&amp;usg=AFQjCNEIVZk4CPkkMuW4HA1Sr0Okg39Mow"> </a>
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Blackett home sells for Sydney's cheapest weekend auction

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There was an $11.2 million harbourfront reserve sale in Cremorne Point, topping out the weekend, and spring selling season, results.
It has views across Sydney Harbour to the Opera House.
Selling agent Ivan Resnekov, of Century 21 Mosman, said the Milson Rd home attracted six registered bidders who made 60-plus bids. Once the bidding got to $10 million, there were just the two remaining bidders.
Currently divided into two four-bedroom homes, Galada was listed by the 95-year-old former Royal Australian Air Force fighter pilot Arthur Pardey.
He was a member of 3 Squadron which flew Spitfires and Mustangs in the Italian campaign in World War II.
Mr Pardey and his late wife Adele bought the home on its 470 sqm block for $850,000 in 1987 on their move from Warrawee. The house was built at a £1100 cost by James Verrills after its design by architect Edwin Orchard for Elsie and James Adamson.
This article was first published in the Daily Telegraph.  
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Cremorne Point $11.2 million sale tops Sydney's weekend auctions

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There were over 3,000 capital city homes taken to auction over the last week of the spring selling season, making it the busiest week for auctions of 2019.
Some 79 percent found buyers, according to preliminary CoreLogic figures, with Sydney out in front on around 84 percent.
"The latest results provide a timely test of the housing markets depth, with clearance rates holding up despite the large number of properties taken to market," Tim Lawless said.
The national tally was significantly higher than final results from one year ago when 41 percent of the 2,749 auctions found buyers.
Houses outperformed units with a success rate of 79.9 percent, while 76.6 percent of units sold at auction.
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Melbourne was host to 1,497 weekend with preliminary results showing a clearance rate of 78.3 percent, in what was its second biggest weekend of the year.
Its success rate increased from last week when the final clearance rate sat at 70 percent across 1,221 auctions. 
Over the same week last year, the auction clearance rate was significantly lower with 42 percent of the 1,378 auctions returning a successful result.
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Melbourne's top sale was $4.51 million in Hawthorn East (below). With five bedrooms and a study, the <a href="https://www.propertyobserver.com.au/https://www.jelliscraig.com.au/property-details-7-Rosslyn-Street-Hawthorn-East/850425" target="_blank">7 Rosslyn Street listing</a> which dates back to its 2010 construction had been expected to fetch between $4.1 million and $4.2 million. 
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There were 1,131 auctions held in Sydney this week making it the busiest week of the year, with preliminary results showing an 84.7 percent clearance rate, up from 76 percent across 940 auctions last week. 
Over the same week last year 937 Sydney homes were taken to auction across the city returning a clearance rate of 41 percent.
The Sydney feel good real estate story was the auction of <a href="https://www.raywhite.com/nsw/randwick/2212317/?lang=en" target="_blank">39 Cowper Street, Randwick</a>, (below), where the beneficiary of the sale was Charles Sturt University.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/39%20Cowper%20St%20Randwick.jpg" alt=""> Chris Williams of Ray White secured a $2,122,000 sale to a family of four. It last chnaged hands in 1986 for $60,000.
The bequests to the university will see scholarships to support disadvantaged women from the NSW Central West Region, enabling them to study at the university.
Results were mixed across the smaller auction markets, with Adelaide and Canberra showing a preliminary clearance rate around 70 percent, while only around half of the homes taken to auction in Brisbane and Perth were successful.
Adelaide had the nation's cheapest result when $145,000 was paid for <a href="https://www.propertyobserver.com.au/https://raywhitecraigmore.com.au/properties/residential-for-sale/sa/elizabeth-downs-5113/house/2207996" target="_blank">32 McKenzie Road, Elizabeth Downs</a> (below) in a mortgagee sale. The three bedroom timber home had last sold at $170,000 in 2009.
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Brisbane's blue ribbon precinct of Kalinga saw a $5.15 million sale through Ray White New Farm agent Christine Rudolph.
The auction of Winbrook, the five bedroom, five bathroom 2004-built property at <a href="https://www.raywhite.com/qld/kalinga/2204995/?lang=en" target="_blank">119 Nelson Street</a> saw a massive crowd of 200 onlookers.
The property comes with a full size, flood lit tennis court.
“There were three registered bidders,” said Ms Rudolph.
Haesley Cush, the auctioneer, declared the property on the market at $5 million.
"The winning family, which include three very sporty young boys, are former residents of the street, and familiar with the property.
"When it came on the market they, according to Ms Rudolph “just had to have it.”
It last sold at $4 million in 2017.
Of the 69 ACT homes scheduled for auction, the highest price paid was $3.85 million for a four-bedroom 1930s art deco home on 2475 sqm at <a href="https://www.propertyobserver.com.au/https://blackshaw.com.au/property/0000422445" target="_blank">18 Tennyson Crescent</a>, Forrest.
The home with 400 sqm internal space last sold at $3.5 million in 2017.
 
 
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Sydney's busiest weekend closes spring 2019 on a high

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Melbourne recorded its lowest non-holiday weekend auction result in nearly four months on Saturday although the market remains generally in favour of sellers, according to the housing economist Dr Andrew Wilson said.
But Dr Wilson noted the typical surge in late spring auction listings had failed to slow down the Sydney auction market.
Westpac described the Sydney market as showing "a strong finish to November" while Melbourne was "more subdued but still robust." 
CoreLogic auction analyst Kevin Brogan said clearance rates across the largest cities have mostly remained above 70 percent since July, implying that vendors remain in a strong selling position, he said. 
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"Next week we are expecting auction numbers to lift by around 14 percent, to be the biggest week of auctions held so far this year," Kevin Brogan said.
Despite the emerging difference in market sentiment, there was just $5000 difference between the cheapest offerings in Sydney and Melbourne.
There was a $305,000 sale at Essendon when <a href="https://www.nelsonalexander.com.au/property/845721/11-158-napier-street/" target="_blank">11/158 Napier Street</a> (below) was sold.
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The renovated one bedroom ground floor unit sold through Nelson Alexander Essendon had a price guide of $285,000 to $310,000.
It had sold at $280,000 in 2015.
A 73 sqm unit at Auburn was Sydney's cheapest sale at $310,000.
The two bedroom at <a href="https://www.realestate.com.au/property-apartment-nsw-auburn-132322722" target="_blank">2/66 Dartbrook Road</a> (below), was on the market for the first time since selling in 1987 at $48,000 according to CoreLogic.
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The garden apartment, that sold through Ascott Real Estate, sits in a block of just 12.
Across the nation, there were 2,599 homes taken to auction across the combined capital cities this week, returning a preliminary auction clearance rate of 72.9 per cent.
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Last week, 2,590 auctions were held when the final clearance rate came in at 70.1 per cent. 
Over the same week last year, auction volumes were slightly higher with 2,701 homes going under the hammer across the combined capital cities, returning a final auction clearance rate of just 41.9 per cent.
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Melbourne's top sale was a period home that fetched $3.85 million in Brighton.
The <a href="https://buxton.com.au/property/141485/41-drake-street-brighton-vic-3186/" target="_blank">41 Drake Street home</a> (below) sold through Buxton had four bedrooms plus study on 778sqm between the Golden Mile foreshore and village shops.
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It came with open fireplaces and a leadlight entry. 
It last sold at $2,725,000 in 2008 and in 2006 at $1.94 million.
Agents has offered a $3.5 million pre-auction price guidance.
In Melbourne, a preliminary auction clearance rate of 73.2 per cent was recorded across 1,217 auctions on the weekend, while last week there were 1,242 auctions returning a final clearance rate of 74.3 per cent, according to CoreLogic. 
One year ago, the clearance rate was just 41.4 per cent across 1,132 auctions.
There were 934 auctions held in Sydney this week, returning a preliminary clearance rate of 82.3 per cent. 
By comparison, there were 947 auctions held over the previous week and the final auction clearance rate was 71.9 per cent. 
One year ago, 1,035 auctions were held and the clearance rate came in at 44.8 per cent.
Sydney's top sale was in Mosman when Raine &amp; Horne agents secured $4.7 million for the four bedroom aparment. The 2/47 Bradleys Head Road apartment had sold at $3.01 million in 2011.
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Across the smaller auction markets, Brisbane had the highest volume of auctions with 184 homes going under the hammer, returning a preliminary clearance rate of 46.4 per cent.
The Brisbane results included a $4.1 million sale through Ray White <a href="https://www.raywhite.com/qld/clayfield/1902150/?lang=en" target="_blank">at 100 Oriel Road, Clayfield </a>where four registered bidders sought the four bedroom, three bathroom home on a 2000sqm estate (below).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/25/100%20Oriel%20Road%20Clayfield.jpg" alt="">
The action commenced with a bid of $3 million and rose to $3.95 million when it was called on the market.
The buyers are a local family planning to renovate the house.
"Buyers are no longer waiting and there’s signs of people jumping in or risking FOMO (fear of missing out),” selling agent Damon Warat said.
The price was less than its sale last year at $4.3 million.
The Ray White group also sold the home of its joint chairman Paul White in Clayfield.
It sold under the hammer for $3.425 million with four registered bidders. 
The 1930s style home called ​Arlington at <a href="https://www.propertyobserver.com.au/https://raywhiteascot.com.au/properties/residential-for-sale/qld/clayfield-4011/house/2202712" target="_blank">129 Adelaide St East​</a> was listed by Mr White and his partner Lynne Porcsin who have owned the four bedroom classic single story home on one of Brisbane’s best streets since paying $3,025 million in 2014.
 
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Melbourne records lowest non-holiday weekend auction result in nearly four months

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Sydney's late spring auction success rate has normally fallen quite significantly under the weight of new choices by mid-November.
But while the vibrant seasonal jacaranda display falls to the ground, indicating the Christmas break is nigh, there has been continued strength in the auction outcomes.
CoreLogic advised four of Sydney’s 15 regions returned preliminary clearance rates on a recent weekend of 90 percent or over.
They were the Northern Beaches, Ryde and North Sydney and Hornsby.
Baulkham Hills and Hawkesbury returned the lowest preliminary clearance rate at 58 percent, which is where the overall end of spring market typically sits in normal years.
There were 930 homes taken to auction across Sydney last week making it the second busiest auction week of the year for the city, just behind the pre-Easter ramp up.
The CoreLogic preliminary results showed an overall 81 percent clearance rate, with not much difference between houses and apartments in attracting buyers.
The clearance rate will likely revise to around the mid-70s once late results are included.
The previous week saw a final clearance rate of 74 per cent across 843 auctions.
One year ago, 844 auctions were held across Sydney returning a final clearance rate of just 42 per cent.
Back in 2017, as the boom was disappating there were over 1000 Sydney auctions, one of the few and far so-called Super Saturdays.
The latest auctions results have triggered a $1.4 million house median and a $920,000 apartment median.
Auctions offerings are always pricier than private treaty listings.
CoreLogic recently put the overall Sydney median at $918,000 for houses and units at $720,000.
Sydney house values are up 5.3 percent since the recent May low, and apartments up 4.2 percent.
According to CoreLogic research director Tim Lawless, the strong rebound in Sydney can be attributed to a blend of factors; tighter labour market conditions and stronger population growth relative to the other capitals, coupled with the stimulatory effect of the lowest mortgage rates since the 1950’s, and improved access to credit.  
Stamp duty exemptions for first home buyers purchasing under specific price points have added additional stimulus to housing demand, Lawless said.  
The lack of fresh supply is also contributing to the turnaround, as vendors have still been hesitant to come to market.
The latest CoreLogic listing tally is 10 percent down on the same time last year. 
There have been 7200 fresh offerings across Sydney in the past 28 days, compared to the near 8000 fresh offering that came to market this time last year. There were 8600 fresh offerings in mid-November 2017.
The current total Sydney listings, fresh and lingering, sits at 24,000, compared to 31,000 this time last spring.
There is emerging improved sentiment, according to the latest report by ME Bank.
The report, which surveyed 1000 Australians in the property market, found 42 per cent of participants said they felt good about the current market, which was up nine percentage points from last quarter.
Price growth sentiment was most improved in Sydney, with respondents in all major cities except Perth showing a more positive outlook on prices.
The survey showed 57 percent throught Sydney prices would be higher still in 12 months time, up from 24 percent who thought so in April this year.
REA Group executive director of economic research Cameron Kusher said buyers still face a lack of stock, although there will be a pick up in auction volumes.
According to <a href="http://realestate.com.au/" target="_blank" data-saferedirecturl="https://www.google.com/url?q=http://realestate.com.au&amp;source=gmail&amp;ust=1573586230822000&amp;usg=AFQjCNH9kZ3QzHBVVCkseqm3z4j4WZYEgA">realestate.com.au</a> there will be 754 auctions today and then 776 next Saturday.
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Sydney auction clearance rate remains strong for late spring

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Tyneside, the historic Willoughby East residence, has been snapped up before its scheduled auction this Saturday for $2.93 million.
It was for sale for the first time in 50 years following the death of the former Australian Jockey Club vice-chairman Noel Bracks, who owned the much-acclaimed stayer Donegal Mist.
The heritage-listed house was last sold to Bracks and his widow Ellen for $25,000 in 1969 by hotelier Ernest Cooper.
Belle Property agent Patrick Lang and Forsyth agent Jimmy Psaltis gave an initial $2.5 million price guide, which was progressively raised to more than $2.9 million.
The home dates back to its construction by Robert Forsyth, whose brother Tom lived at nearby Rosewall.
After the 1890s depression, the brothers lost their tannery.
Then in 1903, the bank foreclosed on Tyneside. It was Tom and Ann’s seventh child Robert Todd Forsyth who established enduring estate agency in 1898.
This article first appeared in The Daily Telegraph. 
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Historic Tyneside, Willoughby sells pre-auction

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

Jonathan Chancellor

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