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The financial year just done was not a pretty one for property investors across Australia.
CoreLogic calculated total returns from residential property saw a fall of 3.3 percent in the 2018-19 financial year. Total investment returns is the value growth and gross rental returns.
Last financial year was the only financial year since at least 2005/06 that total residential property returns were negative.
The average return over the 13 year period was nine percent.
The best year was 2009-10 when the national return was almost 17 percent.
"Housing returns last year were worse than those recorded during the financial crisis and during the 2010-12 housing downturn," Cameron Kusher at CoreLogic noted, adding it was the combination of falling values and historically low rental yields that had driven total returns into negative territory.
Looking at the Sydney figures, it was the second consecutive financial year in which returns have fallen however, it was a larger 6.7 percent fall compared to the previous 2.7 percent fall in 2017-18.
They were the only years to record a fall since 2005-06, with the average Sydney return being 10 percent.
The best year was 2014-15 when the total return was 21 percent.
In regional NSW total returns were 0.5 percent down in the past financial year, the first time total returns recorded a decline in the past 14 years. NSW regional property saw an average eight percent over the extended period.
The combined capitals were down 4.5 percent, while all the rest was up 1.6 percent.
Kusher maintains that with the early signs that the rate of decline in housing values has now slowed and rental yields rising across most regions of the country, the prospect for total returns over the coming year looks a little stronger for some.
Sydney may see an improvement in returns although they may weaken in most of the other capital cities and regions elsewhere.
While the total returns from residential housing are not looking so attractive, residential property is not alone.
Try living off cash!
Outside of compulsory superannuation, property and shares are the two most common ways of building wealth in Australia.
Investors looking for the best place to invest always face a challenging decision, this year as much as ever. 
There are always the push and pull factors of residential property and shares so choosing the right strategy often comes down to investors’ own timeframes and preferences.
There needs to be an understanding the advantages and risks associated with both.
Be aware the ever present debate comparing the returns on shares with the returns on property tends to be seen through the prism of the commentator's bias.
The Australian share market recently hit an all-time high with the All Ords index surpassing its record in November 2007.
Once dividends are allowed for, the Australian share market had actually surpassed its 2007 record high back in 2013.
The Reserve Bank of Australia’s head of domestic markets Marion Kohler noted recently that the Australian sharemarket, once dividends are included, showed an average annual 8.5 per cent return since 1993.
AMP Capital chief economist Shane Oliver noted earlier this month that going through past bull market highs after a long period below can attract investors into the stock market so it could push on for a bit. 
My views that we shall see an exit of some sharemarket gains into the property market. Perhaps not the influx seen in past cycles, but enough to provide a fillip to the depth of property buying interest.
 
 
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jchancellor-FAypfDUnLy

Is there a choice for investors after housing returns slump over the 2018-19 financial year?

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The would-be residents of Sugarcane and Honeycomb, the uninhabitable Erskineville residential complexes built on possibly toxic land, likely face more months of being unable to access their dwellings.
The City of Sydney Council has concerns about the Chinese-backed developer, Golden Rain Development not meeting the required remediation conditions.
Buyers were told on their purchase to expect an April 2018 move-in date.
In February 2015 timeline expectations were as follows:
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<li>Demolition of existing industrial buildings on the site</li>
<li>Removal of trees</li>
<li>Construction of a multi-level apartment building with a two-level basement on the southern portion of the site (Sugarcube apartments)</li>
<li>Construction of 18, three-bedroom terrace development on the north portion of the site (Honeycombe Terraces)</li>
<li>Construction of new roads, pedestrian links and public domain works to be dedicated to Council</li>
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There are ongoing fears of contaminated groundwater on the former Monier roofing tiles site which had residue heavy metals, hydrocarbons and asbestos from its days as an industrial suburb.
Sydney Council confirmed that no final site contamination audit statement had been lodged.
"A private certifier issued the construction certificate to allow construction to proceed on the site despite not having received the final site audit statement," a SCC spokesperson said.
"City staff have been in ongoing discussions with the developer, who has not complied with the development consent conditions concerning remediation of the site."
It advised the developer has since provided further test results of the contaminants on the site and an assessment of the risk.
"Council is currently reviewing this material and is likely to seek some further information from the developer."
A spokesperson for Golden Rain Development said they "understood the delays have caused frustration."
It claimed the delays are due to requests by the City of Sydney relating to testing of groundwater near access roads and pedestrian walkways on the site.
"As Council will take ownership of these roads and walkways, it has asked for the additional testing before the final occupation certificate can be issued for the development."
"Golden Rain Development will continue to work with the City of Sydney to ensure Council is satisfied the site meets all health and safety requirements, and apartment owners can begin enjoying their new homes as soon as possible," the spokesperson said.
The City of Sydney approval came with a required $736,000 by the developer for a walkway.
The projects are within the Ashmore Precinct, one of the City of Sydney's biggest urban growth precincts.
The 17 hectare site, bounded by Ashmore Street, Mitchell Road, Coulson Street and the Bankstown railway line, is expected to have 6,000 residents by 2025.
A Sydney contamination auditor expects there will be a "long delay" for residents in getting into the upmarket projects where studio prices fetched $550,000 plus.
Industry experts have questioned how the project construction began without the necessary documentation in place.
"How did this build ever start in the first place?" a conveyancer said.
In NSW the management of contaminated land is “shared” by the Environment Protection Authority, the state Department of Planning and Environment and local councils.
Both projects were a finalist in "excellence in marketing" at the 2016 UDIA Awards.
The selling estate agents Colliers International declined to advise on the status of the sales contracts secured between 2015 and 2016, along with when the strata plan would be registered.
"All enquiries should be referred to Golden Rain Development," Colliers residential managing director Peter Chittenden said.
It is understood that some buyers have sought to terminate the sales contract and receive a refund of their deposit.
Nearby resales in other unaffected complex have shown no price growth over the past three years.
Golden Rain's ultimate owner is based in the British Virgin Islands.
One local director is 54 year old Bernard Chi, who has a 34th floor Bathurst Street, Sydney apartment. Another associated director is 55 year old Anne Bi, from West Pennant Hills.
The other directors give Hong Kong addresses.
A $1 million Sugarcube buyer Nick Rehac said he was "not allowed to stay here."
"We have no power," he told reporters as he stood in front of a fence preventing him to access the building.
"They took the money."
This article was first published in the Saturday Daily Telegraph.
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Honeycomb and Sugarcube residents to wait on contaminant tests

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Although there’s plenty of stock on market, it has been a busy winter for prestige hobby farm sales in the NSW Southern Highlands.
Topping the list of whisper quiet sales has been Widgee Waa, which was offered by the retired merchant banker turned green finance advocate Mark Burrows.
He’s retained Sugarloaf Farm, with its acclaimed garden with Wollemi pine, but reputedly ­secured a very bullish $14.5 million for Widgee Waa. The price just falls short of the $15 million Southern Highlands record.
Widgee Waa, set on 150ha at East Kangaloon, is an aggregation built up over 31 years, since around the time when Burrows was head of investment bank advisory Baring Brothers Burrows.
The property has cattle farming infrastructure, a manager’s cottage plus stable facilities for a significant brood mare and thoroughbred horse operation.
It was listed by Christies International agent Ken Jacobs in conjunction with Meares &amp; Co agent Chris Meares.
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The 200ha property Comfort Hill at Sutton Forest that sold to the late international television show veteran Reg Grundy in 2007 retains the record of $15 million in the Highlands. Last month Pepper Tree Creek Estate, one of Kangaloon’s oldest properties, sold for $6.7 million to the Sartorel family through Di Jones agent Kate McCullagh.
The 30ha property was established in 1862, around the time the early settlers of Kangaloon and Robertson areas started purchasing land.
Its stone cottage, plus out buildings and dry stones walls, including a quaint dairy, were built during that time. A team of landscapers, builders, horticulturalists and green keepers recreated the estate.
There are 40-plus offerings priced at $3 million or over on­ ­realestate.com.au.
This article was first published in the Sunday Telegraph.
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Finance veteran Mark Burrows sells Widgee Waa for around $14.5 million

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Capital city auction markets recorded their highest preliminary clearance rate in over a year, reaching 70 per cent, but price recovery remains erratic even as Sydney and Melbourne forged a path towards being a sellers' market.
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After having quit Melbourne, Socceroo Aaron Mooy scored a sale at weekend auctions when his Yarraville penthouse fetched $901,000 (top and below).
While the Herald Sun advised there was a shootout between three bidders, it sold for less than its initial purchase price.
The UK based star midfielder bought it off the plan for $914,000 in boom time 2015, when he was playing for Melbourne City in the A-League.
Having never got to reside there after signing a £10 million deal with Huddersfield Town in 2017, the <a id="LPlnk750284" class="OWAAutoLink" href="https://www.bigginscott.com.au/property/1P3401" target="_blank">608/125 Francis Street penthouse</a> had an $800,000 to $880,000 price guide.
<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/2019/7/22/Yarraville%20penthouse%202.jpg" alt="">
The three bedroom apartment sits in the sort-after north-east, south floor corner position on the top floor in the tallest residential building in Yarraville.
Mooy retains a house in Scotland, in the west end of Glasgow.
A modern 2012-built French-inspired Hawthorn East trophy house (below) was passed in at weekend auction at $2.7 million from the only bidder.
The auction commenced with a $2.65 million vendor bid.
The four-bedroom Edwardian style <a id="LPlnk938253" class="OWAAutoLink" href="https://www.greghocking.com.au/listing/l289916-52-harold-street-hawthorn-east-vic-3123/" target="_blank">52 Harold Street</a> was last sold in 2018 for $2.9 million by Appetite for Excellence’s 2010 Young Restaurateur of the Year Kim Cornice.
<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/2019/7/22/52%20Harold%20Street%20Hawthorn%20East.jpg" alt="">
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Greg Hocking Persichetti had price hopes of $2.75 to $3 million for the four bedroom home which features a glass encased cellar encased with a wine and cheese display area.
Queensland had the nation's cheapest sale when <a id="LPlnk999077" class="OWAAutoLink" href="https://www.eldersrealestate.com.au/residential/auction/21-frome-street-laidley-qld-4341-20888365/" target="_blank">21 Frome Street, Laidley</a> (below) fetched $175,000 through Elders agent Darryl Muckert.
Set in the Lockyer Valley of South East Queensland, it had sold in 2008 at $209,000 when rented out at $210 a week.
The now vacant three bedroom home, that sits on a 1015 sqm holding, had a had fresh paint job on the inside along with new floor coverings. 
<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/2019/7/22/21%20Frome%20Street%20Laidley%20Qld.jpg" alt="">
There is a reverse cycle air-conditioner in the lounge room, meals area off the kitchen, and internal laundry and bathroom. 
Sydney topped the nation's weekend results with a $4.68 million sale in Pymble.
The <a id="LPlnk614773" class="OWAAutoLink" href="https://mcconnellbourn.com.au/real-estate/309229/36-bobbin-head-road-pymble-nsw-2073" target="_blank">36 Bobbin Head Road offering</a> (below) was marketed as a "modern interpretation of Federation style that satisfies contemporary living while embracing classic grandeur." Set on 1896sqm with manicured gardens with a pool and tennis court, the two storey home had six bedrooms.
The home with 596sqm of solid brick construction had a price guide of $4.5 million through McConnell Bourn Lindfield agents Carole McCrea and Matthew Bourn.
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It last sold at $1.4 million in 2001.
There was also a $4.065 million sale when <a id="LPlnk932602" class="OWAAutoLink" href="https://www.ch.com.au/25-campbell-street-abbotsford-nsw-4927283/" target="_blank">25 Campbell Street, Abbotsford</a> (below) went to auction through Cobden Hayson.
Built in 2000, the five bedroom contemporary home was sold sold at $1.95 million in 2012.
<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/2019/7/22/25%20Campbell%20Street%20Abbotsford%20NSW%202046%20%20.jpg" alt="">
"The auction market is back favouring sellers in a big way," said estate agent Matt Hayson.
"What a wild eight weeks it has been for Sydney property which has completely flipped the script," he said.
There were 350 fewer auctions held nationally on the weekend, compared to 2018, with the drop in Melbourne offerings at 32 percent and in Sydney with 25 percent fewer listings.
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There were 901 homes taken to auction across the combined capital cities this week returned a preliminary clearance rate of 70.6 per cent.
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CoreLogic advised the the prior week saw 847 homes taken to auction with the final clearance rate at 65.4 per cent, the first time a final clearance rate held above 65 per cent since March last year.
Over the same week last year, auction activity was higher with 1,257 homes taken to auction returning a clearance rate of 57.0 per cent.
Melbourne was host to 416 auctions on the weekend, returning a preliminary clearance rate of 70 per cent. 
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The same week last year saw a clearance rate of 59.9 per cent across 613 auctions.
Sydney recorded a preliminary clearance rate of 81.5 per cent across 303 auctions this week. 
"It is likely that the final clearance rate will revise down to around the mid-70s once remaining results are collected," a CoreLogic spokesperson said.
Over the previous week, 72.8 per cent of the 316 auctions were successful, the second week in a row where the final clearance rate held above 70 per cent. 
One year ago, 407 auctions were held across Sydney returning a final clearance rate of 55.2 per cent.
The smaller capitals have yet to get much momentum with Canberra at 60 percent, Adelaide at 58 percent, and Brisbane with a 45 percent success rate.
SQM auction analyst Louis Christoper said the end of school holidays would "very likely start to see a rise in auction volumes from as early as next weekend." 
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Price recovery remains eratic even as Sydney and Melbourne forged a path towards being a sellers' market 

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The Sydney auction clearance rate has certainly been improving in recent weeks.
The calendar interruptions of early 2019, along with the seasonal winter slowdown, has meant volumes have been below average. Saturday's offering were down 25 percent in Sydney and 32 percent in Melbourne.
Given renewed buyer interest, this means there's been often stronger competition that any agent expected for their offerings. Auctioneer Damien Cooley saw four bidders register at his 214 auction last month as against the two bidders at his 346 auctions last June.
The big question remains whether the forthcoming spring selling season will see a sizeable boost in listings, and with the choice will there be a levelling off in the competitive prices being paid especially for houses.
Earlier this month there was a $700,000 over the reserve price achieved when <a href="/expert-insights/buying/auction-momentum-continues-as-surry-hills-terrace-sells-700-000-over-reserve">$3.3 million was paid in Surry Hills</a>. There were 14 registered parties.
There had been a $3.05 million sale further along Bourke Street last year, so I was interested whether it was an emotional two horse race in then end to secure the five bedroom corner terrace.
Its selling agent advised there were still four of the eight involved in the bidding with $150,000 to go. There is some comfort for buyers that they aren't the only one who saw the higher value.
While I am a great believer in going that extra little bit, especially if you are weary from having looked for ages, I do think setting a limit before auction is a wise strategy.
Some buyers get just too emotional in the excitement, and then have regret for a decade after while neighbouring prices catchup.
Hopefully you have viewed to a few recent auctions in the lead up as that way buyers can be more comfortable in the high stakes environment. 
Of course research is king by checking the recent sales results so as a buyer you have an up to date estimation of your desired property and type.
It could well be that your research convinces you that the market is on the move, so getting in that Saturday means you seize a limited opportunity at that level of pricing.
I think it wise to check what the property last sold for, plus the cost of recent improvements, to work out the price growth since it last sold.
Also check its recent on-the-market history as it helps to know if it had been previously marketed.
It's also a good idea to find out what you can about the vendor's circumstances.
Just pop the query into conversation with the listing agent or even a savvy rival agent who knows what is happening in your neighbourhood. That knowledge might prompt a pre-auction offer whereby you avoid the auction angst.
I'm of the view that you think about three price points you would be willing to meet. The first is the price you would love to pay! Then a price you would be prepared to pay, and then a stretch price which is the most you are prepared to offer. Of course consider adding $1,000 or $2,000 to that as sometimes an odd number gets you the home.
Earlier this month in Adelaide a couple of buyers were minded to do just that as the nation's cheapest offering came in at $273,102 which saw the <a href="/expert-insights/buying/1-higher-bid-secures-australias-cheapest-weekend-auction-offering">final bids get down to $1 bids</a> at the Ray White auction of a Parafield Gardens 1960s, three bedroom home.
There were 18 registered parties, which shows Sydney's not the only place where house buyer numbers are a bonanza for sellers.
This article was first published in the Saturday Daily Telegraph.
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The big question is will spring auction listings swamp the market and quell the gathering momentum?

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Do off the plan apartment marketing agents have any responsibilities after the signed contract? And how accountable do they see themselves when things go awfully wrong?
I was wondering what role the selling agents at <a href="/news/otp-sugarcube-honeycomb-erskineville-buyers-locked-out-after-contaminants-fears">the potentially still toxic Erskineville projects, the 109 Sugarcane apartments and the 18 Honeycomb terraces</a> felt that they had three or four years after they secured the sale for the Chinese developer Golden Rain Developments.
It was front page news in Sydney on Friday, followed by extensive website coverage throughout the morning and then on the Friday night television news.
The poor OTP buyers are in limbo, locked out of the completed residences after a dispute between developer and Sydney City Council over the potential toxicity of the former industrial site. The issue appears to be related to contaminated water run off, especially to and from the public land, rather than the earlier feared gas vapour issues in the car park basement.
The developer engaged Ray White Projects and Colliers International to sell their project quite a few years ago. It was a sellout.
The earliest Colliers marketing advised an anticipated early 2017 completion, then it was subsequently advised as April 2018.
Some 15 months further along, not one intending owner occupier resident has moved in, nor investor able to rent the residence out.
This extended period of limbo sees their deposits sitting there, awaiting final settlements, with their lenders no doubt cautiously wondering what impact the toxin turmoil, even satisfactorily resolved, ought have on their valuations.
The strata plan awaits registration.
A truly dreadful situation for every buyer.
Ray White Erskineville Projects advised they had marketed the 18 off the plan terraces in Honeycomb development in good faith as per the vendor’s instructions.
"When Ray White Erskineville Projects became aware that technical compliance issues had arisen between council and the developer over occupancy, we communicated to all purchasers any information that had been provided to us," it said in a statement issued within 90 minutes of the request.
"Ray White Erskineville Projects empathises with the challenges this situation presents to both the developer and the purchasers of these properties and is keen to see the resolution of any outstanding matters so the properties are able to settle," Ray White advised.
Colliers, headed by Peter Chittenden, took another course altogether.
"As Colliers were engaged as project marketing agents for this development, all enquiries should be referred to Golden Rain Development," it advised News Ltd's Daily Telegraph much later in the day.
The Sydney Morning Herald reported Colliers directed inquiries to Ray White.
It was March 2015 when Colliers kicked off the marketing in Domain with studio prices from $550,000, and the advisory that the projects were due for completion early 2017.
In August 2015 Domain updated readers in an article on pet friendly projects with the same early 2017 completion date advisory, and Colliers pricing for the one-beds from $645,000, two-beds from $870,000 that remained for sale off the plan.
Chittenden's linked-in ranks Sugarcube among his "successful projects."
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Golden Rain Development has completed 30 projects across Asia with the Erskineville development promoted as its “flagship project” in Sydney. They boasted the residences are amongst the most desirable ever to grace Erskineville's leafy village streets.
Golden Rain Development sent a letter to buyers in April this year, acknowledging delays in the issuing of an occupation certificate.
"An unforseen planning issue is at the heart of the delay," said the letter.
It didn't mention the toxicity issues. Owners described it as "unbelievable" and "shocking" to learn of the contamination issue in the SMH, after desperately pressing for answers for over a year.
One buyer told the SMH they had left "countless messages" with Colliers.
"When I purchased they were saying this was a fantastic developer and well renowned. It's just a horrible scenario to be in."
 
 
 
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How OTP estate agents see their responsibilities after the signed contract?

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A heritage listed home in Wahroonga has been sold by the Loxton family for $2.32 million.
Last sold in 2013, the home built in 1962 to a design by architect Russell Jack sold for $1.9 million.
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It won the Wilkinson Award for Outstanding Architectural Merit in 1963.
Tim Fraser of Di Jones marketed the house.
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Situated at <a href="https://www.propertyobserver.com.au/https:/www.realestate.com.au/sold/property-house-nsw-wahroonga-131290502" target="_blank">36 Cleveland Street</a>, the property sold to a local family for $120,000 over reserve.
It traded in 1988 at $710,000.
Known as Jacobs House, it was designed for the former High Court judge Sir Kenneth Jacobs.
Said to be designed to Sir Ken’s specifications, the pavilion-style house sits on a 1,534 square metre Cleveland Street holding.
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Russell Jack-designed Wilkinson Award winner at Wahroonga sold 

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The $3.3 million sale of a Surry Hills terrace for $700,000 above reserve at auction saw a final $50,000 knockout bid.
The three-level Bourke Street terrace (above and below) sold after competition from around eight of the 14 buyers registered.
There were four bidders in the final $150,000.
Agent Michael Kirk of BresicWhitney said the property’s position near the soon to be completed Sydney Light Rail was "a considerable draw."
“Now that the light rail is starting to near completion it’s starting to benefit a lot of the nearby housing,” Mr Kirk said.
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He added that he had known the property would attract strong bidding in the post-election house market but was surprised just how competitive the auction had turned out for <a id="LPlnk205792" class="OWAAutoLink" href="https://www.realestate.com.au/property-terrace-nsw-surry+hills-131377266">625 Bourke St</a>.
It had a $2.4 million price guide. There had been a <a id="LPlnk547927" class="OWAAutoLink" href="https://www.realestate.com.au/sold/property-house-nsw-surry+hills-127709554">nearby $3.05 million</a> early last year.
The weekend offering was a five bedroom corner terrace, just four doors from Devonshire Street, which had appeal to investors and part-owner occupiers since it had been converted to two apartments.
Investors were anticipating $1,850 a week.
Not all Sydney terrace auctions had prices flying past reserve.
At Glebe $1.21 million was paid for a two bedroom terrace on <a id="LPlnk682018" class="OWAAutoLink" href="https://www.realestate.com.au/property-house-nsw-glebe-131375286">Lyndhurst Street</a> (below) which was below its $1.45 million hopes when it failed to sell last July.
Its price fell short of doubling its last sale price of $635,000 in boom time 2003.
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Matthew Carvalho of Ray White was quoting a $1.1 million guide for the weekend auction with it announced on market at $1.205 million.
The national preliminary clearance rate sat at 69 per cent across the combined capital cities.
There were 854 homes taken to auction down slightly on the prior week's 953 homes when there was a 64 percent final clearance, the highest final clearance rate since April last year.
The final clearance rate has held above 60 per cent for the last four weeks.
Over the same week last year, auction activity was higher with 1,178 homes taken to auction returning a clearance rate of 52 per cent.
Melbourne was the busiest with 352 auctions returning a preliminary clearance rate of 73.6 per cent.
The volume in Melbourne was down on the 388 prior week offering but up on the final clearance rate of 67.2 per cent.
"Melbourne’s final clearance rate has held above 65 per cent for theist 3 weeks and it’s looking like this week will return a similar result," Kevin Brogan said.
Over the same week last year, Melbourne had a clearance rate of 56.2 per cent was recorded across 559 auctions.
Melbourne's top weekend result was at Malvern at $2.555 million. The <a id="LPlnk951068" class="OWAAutoLink" href="https://www.realestate.com.au/property-house-vic-malvern-131387626">43 Cawkwell Street, Malvern</a> offering (below) had $2.32 million to $2.4 million price guidance from its selling agent Barbara Thomas at Thomas Moreland.
There was no heritage overlay on the three bedroom house set on 618 sqm. It last sold at $75,000 in 1981.
<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/2019/7/15/43%20Cawkwell%20Street%20Malvern%20Vic%203144%20.jpg" alt="">
There were $1000 bids when the auction at <a id="LPlnk45011" class="OWAAutoLink" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1PaqY9h1STmVnIaUvicidZtq7CetTEun8Rl/Ik6ncJxPQtKYvwmbRprG2uw3Lv17002UVWM5ek6NBPfzebDMX0n9jlg1dPh1qq24BqwX+V80OjApg278Wb8=&amp;rh=ff004ea02a92cb03476ad612c349bad650ed4043">14 Woodhouse Grove, Box Hill</a> (below) saw Ray White agent Hugh Francis secured $1.09 million, some $150,000 above reserve with six bidders. “At $1,020,000, it got down to $1000s and $2000 bids,” agent Hugh Francis said. 
<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/2019/7/15/14%20Woodhouse%20Grove%20Box%20Hill.jpg" alt="">
Its price guidance had been $880,000 to $968,000.
<div>
Sydney recorded a preliminary clearance rate of 77.2 per cent across 318 auctions.
<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/2019/7/15/July15%20-%20auction%20stats.jpg" alt="">
Over the previous week, 71.3 per cent of the 359 auctions were successful, the highest final clearance rate the city has seen since in over two years.
"This week’s final figure may just hold above 70 percent again as remaining results are collected," CoreLogic auction analyst Kevin Brogan said.
One year ago, 408 auctions were held across Sydney returning a final clearance rate of 46.9 per cent.
Across the smaller auction markets, Brisbane saw higher volumes week-on-week while all other cities saw fewer homes taken to auction.
</div>
Dr Andrew Wilson, chief economist of <a href="http://myhousingmarket.com.au/">MyHousingMarket.com.au</a> commented that the lowering weekend auction volumes had declined "to what are now remarkably low levels – particularly in Sydney and Melbourne – even for the typically quieter mid-winter housing market."
<div>
<div dir="ltr">Buoyed by lower interest rates and a well-overdue easing in lending conditions, Dr Wilson said the "acid test" for a recovering market will however come in just over a month.</div>
</div>
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Auction momentum continues as Surry Hills terrace sells $700,000 over reserve

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A number of happy Sydney auction sellers are reaping the real estate rewards of the Morrison Government’s surprise federal election victory.
In a market rebound being dubbed “The ScoMo effect”, homes which had recently been passed in during the two-year housing slump sold at a price almost $400,000 higher just seven weeks later in light of record low interest rates, a loosening of lending regulations and the vital removal of the threat of Labor negative gearing and capital gains policies set to punish investors, owners and renters.
Economists factoring a Labor victory into their housing forecasts for the winter outlook said Prime Minister Scott Morrison’s re-election had removed a massive negative facing an already jittery property market.
“Given the difficulty in predicting the election, our house price forecasts had allowed for a 50 per cent probability (i.e. 50/50 Labor would win) of an 8 per cent additional drag on prices in Sydney,” AMP chief economist Shane Oliver said. “Now it’s zero and we need to remove this from our forecasts.”
Ray White selling agent Shaun Burro pointed to a massive spike in auction clearing rates as “a complete U-turn” in the market.
The May 18 election day clearance rate sat at around the low 60s and is now often in the 70s, with a 78 per cent success rate advised last Saturday. The rebound was illustrated in an unrenovated three-bedroom Redfern terrace (below) passed in at $1.6 million on the actual day of polling.
<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/2019/7/15/50%20Thurlow%20Street%20Redfern.jpg" alt="">
A buyer emerged earlier this month paying $1.971 million, reflecting a $370,000 jump in just seven weeks.
Buyers’ agent Rodney McLoughlin at TBAS Buyers Agents was at the original auction. “Up to the election outcome, we were witnessing one, maybe two active bidders at auctions, with properties likely selling around the agents’ price guide,” he said.
However, the post-election auctions are attracting three to four active bidders, with properties often selling around 10 per cent over the price guide, he said. “Exceptional properties are now selling around 15 per cent over the agents’ guide,” he said.
Mr Oliver also cited the action under the hammer as evidence of the ScoMo effect.
“So far it’s mostly evident in the auction market as other data comes out with a much longer lag,” he said.
“Auction clearances may relate to only a portion of the market but they are usually a pretty good guide to the broader market.”
SQM property research analyst Louis Christopher said there are more buyers in the market compared to the time prior to the election, citing the win, APRA announcing their loosening lending and the interest rate cuts as the three main factors.
Kellyville couple Clive and Jeanette Desira are attempting to capture on the heightened auction confidence with a July 31 marketing campaign with Ray White Castle Hill to sell their five-bedroom Springwood Boulevard (below) home.
<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/2019/7/15/69%20Springbrook%20Kellyville.jpg" alt="">
The home, built by the couple on a 605sq m block in 2015, was listed before the election without success but Mr Desira is now feeling more optimistic.
“I think the market has changed,” Clive said.
“There’s a little bit more confidence since the return of the government, plus lower interest rates and also the changes in the way banks assess loans.
“I believe buyers’ confidence is back. I think we’ll see stock moving.”
CoreLogic’s June home value index revealed Sydney’s prices rose 0.1 per cent last month — the first month without a price fall in two years.
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The ScoMo effect on Sydney's auction clearance rates

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The nation's cheapest weekend auction sale was a three bedroom house in Adelaide that fetched $273,102 which saw the final bids get down to $1 bids.
The auction of <a href="https://www.propertyobserver.com.au/https://raywhitenorwood.com.au/properties/residential-for-sale/sa/parafield-gardens-5107/house/2127046" target="_blank">6 Miller Crescent, Parafield Gardens</a> had 18 registered parties with eight participating bidders.
The pre-auction price guide had been $199,000.
There was a $208,900 reserve for the modest original condition 1960s, three bedroom brick and tile home.
The contest saw the tiny $1 bids just before the hammer dropped at $273,102.
<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/2019/7/15/Parafield%20Gardens%202.jpg" alt="">
"It reflected on the nature the auction, which was a dawn out fight to the finish," Ray White agent Ryan Stapleton said.
"The closing stages became a nail biter," he said.
The auctioneer finally took $1 bids as potential buyers scraped the bottom of their pockets in an effort to secure the home.
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$1 higher bid secures Australia's cheapest weekend auction offering

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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