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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

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

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Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Joel Robinson

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Seasoned Victorian apartment developer <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a> has logged more than $400 million in sales in its luxury apartment project Palmera Residences at Northcliffe on the Gold Coast.&nbsp;

Central Equity Director Karl Kutner said the sales result reflected a combination of location, product quality and delivery certainty with the project already under construction by building powerhouse Multiplex.&nbsp;

"Surpassing $400 million in sales since launch is a significant milestone and an outstanding endorsement of <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera Residences</a>,” he said.&nbsp;

"We believe one of the key reasons for this strong result is the confidence purchasers have in knowing the project is under construction with Multiplex. Buyers are increasingly looking for certainty. They want to know that the project they commit to today will be delivered by an experienced team with a proven track record."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365782]

Kutner said it was clear there was still high demand for luxury projects that offered certainty of delivery.&nbsp;

“We are in a market where many residential developments have faced delays due to rising construction costs, labour shortages and financing challenges,” said Kutner.&nbsp;

"But having construction underway has provided our buyers with resounding confidence backed by more than 40 years of development delivery by Central Equity combined with construction by one of Australia's most respected construction companies."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365785]

Central Equity is one of Australia's most experienced privately-owned property developers. Over more than four decades, the company has delivered in excess of 85 residential developments including 10,000 apartments and many thousands of stand alone homes.&nbsp;

Located on Garfield Terrace at Northcliffe, between Surfers Paradise and Broadbeach, Palmera Residences occupies one of the Gold Coast's most sought after beachside locations. The development has been designed to appeal to owner occupiers seeking premium residences that combine generous living spaces and resort style amenities.&nbsp;

Palmera Residences will feature an exceptional collection of resort style amenities, including two swimming pools: a generously sized family pool with safe shallow zones for relaxed recreation, and a 20 metre lap pool positioned to maximise all day sunlight.&nbsp;

Residents will also enjoy exclusive access to wellness and recreational facilities including a magnesium pool, sauna, yoga studio, expansive fitted gymnasium, resident lounge, outdoor BBQ’s&nbsp;and indoor and outdoor dining areas, together with a dedicated concierge and luxurious hotel inspired entrance foyer.&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365767]

A unique feature at Palmera Residences has been designed to enhance the Gold Coast lifestyle which includes both indoor and outdoor gymnasium facilities, together with thoughtfully designed indoor and outdoor dining and entertaining areas. A corner café has also been incorporated to provide residents with a destination for their everyday needs.&nbsp;

Kutner said buyer demand had been broad based with purchasers attracted from interstate as well as throughout South East Queensland.&nbsp;

"We're seeing strong interest from owner occupiers, lifestyle buyers and people relocating to the Gold Coast. Many purchasers have been searching for a premium beachside residence where quality, design and delivery are equally important."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365771]

Kutner said the sales milestone was an important achievement, but the focus remained firmly on delivering an exceptional development.&nbsp;

"While reaching $400 million in sales is an important milestone, our priority remains delivering a project that exceeds purchaser expectations,” he said.&nbsp;

"Palmera Residences has been designed to become one of the Gold Coast's landmark residential addresses, and we look forward to welcoming our purchasers to their new homes."&nbsp;

There are a limited number of residences remaining in selected configurations with pricing from $2,950,000 to $8,950,000. Palmera Residences is also crowned by expansive penthouses with wrap around views.

[smartcode_project_cta:default project_id=108274]

Construction certainty and strong buyer demand drive major sales result for luxury Gold Coast development

Palmera Residences fly out the door as sales pass $400 million

National property developer <a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has appointed BINAH as its construction partner for Quartet, its new Brisbane apartment development in the undersupplied suburb of <a href="https://www.apartments.com.au/developments/milton-qld-4064">Milton</a>.

Located just two kilometres from the Brisbane CBD and moments from key 2032 Olympic precincts, <a href="https://www.apartments.com.au/new-apartments/quartet-milton-33-manning-street-milton-qld-4064">Quartet</a> will deliver 131 one, two, three, and four-bedroom apartments priced from $1 million to $4.2 million, combining elevated design with a wellness-focused lifestyle offering.&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=368000]

Goldfields’ Chief Executive Officer, Lachlan Thompson, said the appointment of <a href="https://www.apartments.com.au/builders/binah-constructions">BINAH</a> marked an important milestone for the project.&nbsp;

“Bringing BINAH on board as our construction partner will allow us to bring our vision for Quartet forward with a team that has a proven track record of delivering high-quality residential projects,” Thompson said.&nbsp;

“We’ve taken a considered approach to progressing the site because we wanted to deliver the whole package. Buyers ultimately back great developers, great projects and great builders, and with Quartet, we’ve made sure all three line up.

“People want certainty, they want to know the project will be built, that the homes will be delivered as promised, and that the developer stands behind the quality of what they create. That’s something Goldfields has built its reputation on over many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367993]

BINAH’s Managing Director, Khalil Hafza, said the company was proud to be partnering with Goldfields to deliver Quartet.&nbsp;

“Quartet is an exciting project to bring to life, particularly given the level of detail in the residences and the extensive rooftop amenity planned for the building,” Mr Hafza said.&nbsp;

“Our focus is on delivering a high-quality build that brings that design vision to life and creates homes residents will enjoy for many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367999]

The facilities at Quartet have been feared towards the roof, with a&nbsp;25 metre lap pool, spa, sauna and cold plunge, and a communal barbecue area and alfresco.

Town planning was designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and brought to life by Melbourne-based architecture firm Cera Stribley.

<a href="https://www.apartments.com.au/interior-designers/cera-stribley">Cera Stribley</a> Co-Founder and Managing Principal, Dom Cerantonio, said the project responds to both its riverside setting and Brisbane’s evolving urban character.&nbsp;

“Quartet has been designed to sit comfortably within its riverside context, offering a refined take on urban living through well-planned, generously proportioned residences that will stand the test of time,” Mr Cerantonio said.&nbsp;

“An emphasis on natural light, natural textures and carefully selected finishes from timber and marble to premium appliances, creates calm, considered interiors designed for comfort and long-term liveability.”&nbsp;

Construction of Quartet will commence in July 2026, with completion anticipated in Q4 2028.

[smartcode_project_cta:default project_id=108736]

Construction to commence on 131-residence tower designed around wellness-focused living

Goldfields appoints BINAH for Quartet apartments in Milton

The first partnership between national developer <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> and Adelaide-based developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> has made a strong start, with the pair securing $21 million in unconditional sales at <a href="https://www.apartments.com.au/new-apartments/one-four-four-hutt-adelaide-144-hutt-street-adelaide-sa-5000">One Four Four Hutt</a>&nbsp;on the edge of the Adelaide CBD.

Over a third of apartments have been snapped up in the boutique 44-apartment project on the corner of Hutt Stret and Wakefield Road. Local downsizers and owner-occupiers wanting to remain in Adelaide's tightly-held southeast quarter have been the most prominent purchasers.

The DKO-designed, mixed-use development is one of the few new apartment projects in the precinct, an area where new housing supply has remained limited despite continued demand from buyers wanting to stay close to the CBD, Victoria Park and Adelaide's established east-end amenities.

[smartcode_project:default project_id=151233 project_image_fid=375378]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

"The level of early commitment reflects the confidence local buyers have in the Hutt Street precinct," Dendrinos said.

"Many purchasers are long-term east-end residents who love the area and want to stay connected to the neighbourhood. They recognise the value of a well-designed, well-located development.

"Our partnership with Otello has been central to this success, and the number of unconditional sales at this stage only strengthens our confidence in the South Australian market."

[smartcode_project:default project_id=151233 project_image_fid=375379]

Otello Director Daniel Harris said the sales result also highlighted the lack of new apartment opportunities within the Hutt Street precinct.

"One Four Four Hutt has clearly resonated with buyers, with strong early sales reflecting both the appeal of the Hutt Street corridor and the lifestyle on offer," Harris said.

"The activated ground-floor retail has also been a key drawcard, with purchasers responding to the vision of a more vibrant and connected streetscape, not just the residences themselves."

One Four Four Hutt will deliver 44 one, two and three-bedroom apartments, alongside a collection of penthouses, above a ground-floor retail offering designed to further activate the Hutt Street precinct.

Construction is scheduled to commence in the third quarter of this year, with completion anticipated in 2028.

[smartcode_project_cta:default project_id=151233]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

Jonathan Chancellor

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