<html><body>
There are 1,043 auctions scheduled this week in Melbourne compared to 1,124 for the same time last year.
The highest volume of auctions is in St Kilda with 23 expected, followed by Reservoir with 22 and Kew with 19.
In the auction market the increased volume has shifted the market in favour of buyers with a lower clearance rate resulting from the almost 2,000 auctions held over the past fortnight.
In the private sale market however sellers are seeing a peak in demand with lower days on market and reduced discounting prevalent.
On a city wide basis, the time on market results for houses sold at private sale tightened from 40 days to 37 days over the last week whilst vendor discounting fell from -5.1% to -4.9%.
Key data
•       Clearance rate week ending 12 October: 70%
•       Melbourne auctions expected week ending 19 October: 1,043
•       Melbourne private sales time on market week ending 12 October: 37 days (houses)
•       Melbourne vendor discounting market week ending 12 October: -4.9% (houses)
•       Listings being prepared for market are 4.3 per cent higher in month ending 12 October (seasonally adjusted)
</body></html>

rlarocca-zWhvjay44N

Melbourne market shifting in favour of buyers: RP Data's weekend auction preview

<html><body>
A preliminary weighted average clearance rate of 68.7% was recorded this week across capital cities compared to 66.9% last week and 72.5% this time last year.
Volumes are rising and are projected to reach a high in the last week of October in what will be a test for the market.
<img src="/images/2014/10/13/Picture%2036.png" alt="">
Source: RP Data
<img src="/images/2014/10/13/Picture%2037.png" alt="">
Source: RP Data 
In Sydney a preliminary clearance rate of 75.8% was recorded compared to 76.4% last week. It is interesting to note that there have been 43% more auctions this year than was the case last year, remarkably the clearance rate has not been affected.
In Melbourne there was a preliminary clearance rate of 67.2% recorded compared to 69.1% last week and 74% this time last year. This was the 15th week with in excess of 1,000 auctions.
In Brisbane a preliminary clearance rate of 54.2% was recorded compared to 47.4% last week.
Adelaide recorded a clearance rate of 58.7% compared to 53.7% last week.
In Canberra a clearance rate of 56.4% was recorded.
In Perth a clearance rate of 33.3% was recorded.
</body></html>

Auction volumes projected to reach a high in late October: RP Data's national auction wrap

<html><body>
There are 992 auctions scheduled this week in Melbourne compared to 1008 for the same time last year (the fourteenth week with over 1,000 auction this year).
The highest volume of auctions will be in Mount Waverly with 19 expected.
After a few weeks where sellers were holding the upper hand, last week showed that they still need to ensure that their sale price expectations are not too high.
While the Melbourne market is healthy, it is recording more moderate growth than in the two previous upswings in 2007 and 2010.
September quarter property values showed that the strongest growth in house values on a suburb basis were in the inner east.
Armadale saw a 25.4% rise over the last year and similar growth was recorded in nearby Malvern East, Glen Iris and Camberwell. It is often the case that in an improving market the most expensive segment records the strongest increase in values.
It was also interesting to note that Fairfield joined its neighbor, Alphington, as a suburb with a median house value of in excess of a million dollars. Buyers who can't afford Mont Albert or Balwyn are gravitating north of the Yarra.
On a city wide basis, the time on market results for houses sold at private sale rose from 39 days to 40 days over the last week while vendor discounting fell from -5.3% to -5.1%.
Key data
<ul>
<li>Clearance rate week ending 5 October: 69.1%</li>
<li>Melbourne auctions expected week ending 12 October: 992</li>
<li>Melbourne private sales time on market week ending 5 October: 40 days (houses)</li>
<li>Melbourne vendor discounting market week ending 5 October: -5.1% (houses)</li>
<li>Listings being prepared for market are 3.9% higher in month ending 5 October (seasonally adjusted)</li>
</ul>
 
</body></html>

Melbourne buyers head north of the Yarra: RP Data's weekend auction preview

<html><body>
With the vast majority of homes sold in the last financial year now settled, it is possible to calculate some of the key numbers in the Ballarat market.
Over the year a total of $639 million was spent on houses in the City of Ballarat and $68 million on units across 1,942 house sales and 281 unit sales. There were 12 million dollar house sales – the median value of a house was $301,001. The median house value rose by 7.1% compared to 7.9% in Melbourne
Largest growth in median house values by suburb:
<ul>
<li>Golden Point</li>
<li>Soldiers Hill</li>
<li>Black Hill</li>
<li>Redan</li>
<li>Mount Pleasant</li>
</ul>
Most house sales by suburb
<ul>
<li>Wendouree</li>
<li>Sebastopol</li>
<li>Alfredton</li>
<li>Ballarat East</li>
<li>Delacombe</li>
</ul>
Most expensive suburbs by median house values
<ul>
<li> Lake Wendouree</li>
<li>Lake Gardens</li>
<li>Invermay Park</li>
<li>Mount Helen</li>
<li>Buninyong</li>
</ul>
Most affordable suburbs by median house values
<ul>
<li>Sebastopol</li>
<li>Wendouree</li>
<li>Redan Mount Pleasant</li>
<li>Ballarat East</li>
</ul>
Highest spend on houses
<ul>
<li>Alfredton ($64 million)</li>
<li>Wendouree ($48 million)</li>
<li>Sebastopol ($42 million)</li>
<li>Ballarat Central ($41 million)</li>
<li>Lake Wendouree ($40 million)</li>
</ul>
Suburbs with million dollar house sales
<ul>
<li>Lake Wendouree</li>
<li>Ballarat Central</li>
<li>Newington</li>
</ul>
Suburbs with the highest proportion of houses advertised for sale:
<ul>
<li>Ballarat Central</li>
<li>Miners Rest</li>
<li>Alfredton</li>
<li>Mount Clear</li>
<li>Newington</li>
</ul>
 
 
</body></html>

Top 5 for Ballarat residential real estate sales during 2013-2014 financial year

<html><body>
There are 72 auctions scheduled this week in Melbourne compared to 92 for the same time last year.
Auction numbers are low this week due to the AFL Grand Final.
Conditions in the private sale market are becoming more competitive with homes taking fewer days to sell and a lower vendor discount.
Recent data shows that all of the top 10 suburbs when ranked by time on market are in the eastern suburbs. Rowville had the lowest number of days on market followed by Blackburn North, Croydon, Wantirna South and Vermont South.
On a city wide basis the time on market results for houses sold at private sale fell from 44 days to 41 days over the last week whilst vendor discounting fell from -5.4 per cent to -5.2 per cent.
Key data
<ul>
<li>Clearance rate week ending 28 September:72.1%</li>
<li>Melbourne auctions expected week ending 28 September: 72</li>
<li>Melbourne private sales time on market week ending 21 September: 41 days (houses)</li>
<li>Melbourne vendor discounting market week ending 21 September: -5.2% (houses)</li>
<li>Listings being prepared for market are 2% higher in month ending 21 September (seasonally adjusted)</li>
</ul>
 
 
</body></html>

Sellers steer clear of Grand Final day: RP Data's weekend auction preview

<html><body>
A preliminary weighted average clearance rate of 69.2% was recorded this week across capital cities compared to 72.3% last week and 73.1% this time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140929-Capital-city.jpg" rel="wp-prettyPhoto[g3739]"><img class="aligncenter size-large wp-image-3740" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140929-Capital-city-580x428.jpg" alt="RP Data auction review | Capital cities" width="580" height="428"></a>
The capital cities auction market has clearly lifted since winter, primarily due to strong demand in Sydney and to a lessor extent Melbourne.
In Sydney a preliminary clearance rate of 76.9% was recorded compared to 78.4% last week. Volumes continue to rise and are expected to double the lows of winter soon thereby increasing choice for buyers.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140929-Sydney.jpg" rel="wp-prettyPhoto[g3739]"><img class="aligncenter size-large wp-image-3741" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140929-Sydney-580x380.jpg" alt="RP Data auction review | Sydney" width="580" height="380"></a>
In Melbourne there was a preliminary clearance rate of 69.3% recorded compared to 73.4% last week. Spring has started strongly but it is worth noting that due to significant rises in stock levels the auction market shifted towards buyers this time last year after the Grand Final.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140929-Melbourne.jpg" rel="wp-prettyPhoto[g3739]"><img class="aligncenter size-large wp-image-3742" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140929-Melbourne-580x382.jpg" alt="RP Data auction review | Melbourne" width="580" height="382"></a>
In Brisbane a preliminary clearance rate of 41.4% was recorded compared to 48.2% last week. The low clearance rate compared to the larger capital cities masks the improvement, a 75% rise in homes sold at auction, compared to two years ago.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140929-Brisbane.jpg" rel="wp-prettyPhoto[g3739]"><img class="aligncenter size-large wp-image-3743" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140929-Brisbane-580x386.jpg" alt="RP Data auction review | Brisbane" width="580" height="386"></a>
Adelaide recorded a clearance rate of 69.1% compared to 64.3% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140929-Adelaide.jpg" rel="wp-prettyPhoto[g3739]"><img class="aligncenter size-large wp-image-3744" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140929-Adelaide-580x382.jpg" alt="RP Data auction review | Adelaide" width="580" height="382"></a>
In Canberra a clearance rate of 57.8% was recorded and in Perth there was a clearance rate of 52%.
</body></html>

National clearance rate of 69.2%: RP Data's auction wrap

<html><body>
There are 1,090 auctions scheduled this week in Melbourne compared to 984 for the same time last year. 
The highest volume of auctions this week is in <a href="/news">Reservoir</a> with 24 expected followed by 23 in <a href="/news">Hawthorn </a>and 22 in <a href="/news">Brighton</a>.
Last week was the 12th time this year where in excess of 1,000 auctions were recorded; the highest for year was 1,510 in mid April. In 2013 there were 11 weeks with more than 1,000 auctions and in 2012 there was four.
Given an increase in auctions as a popular mechanism for selling, the prevalence of 1,000 plus auctions each week is much higher than ever before, making weeks of 1,500 plus a more significant indicator of confidence from vendors. There were four weeks with more than 1,500 auctions last year, all after the AFL Grand Final. There is no reason this won’t be repeated this year.
Time on market results for houses sold at private sale fell from 45 days to 44 days over the last week whilst vendor discounting fell from -5.6% to -5.4%.
Key data
<ul>
<li>Clearance rate week ending 14 September: 73.4% 
</li>
<li>Melbourne auctions expected week ending 21 September: 1,090 
</li>
<li>Melbourne private sales time on market week ending 14 September: 44 days (houses) 
</li>
<li>Melbourne vendor discounting market week ending 14 September: -5.4% (houses) 
</li>
<li>Listings being prepared for market are 0.4% higher in month ending 14 September (seasonally adjusted)</li>
</ul>
With a vast majority of homes sold in the last financial year now settled, it is possible to calculate some of the key numbers in the Melbourne market.
<ul>
<li>Suburbs with the lowest number of house sales: <a href="/news">Narre Warren East</a>, <a href="/news">Gilderoy</a>, <a href="/news">Sherbrooke</a>, <a href="/news">Tremont </a>and <a href="/news">Gruyere</a>. Each only recorded one sale 
</li>
<li>Suburbs with the biggest spend by house buyers; <a href="/news">Brighton </a>($805m), <a href="/news">Glen Waverley</a> ($613m), <a href="/news">Kew</a> ($592m), <a href="/news">Toorak </a>($576m) and <a href="/news">Balwyn North</a> ($502m) 
</li>
<li>Suburbs with the biggest spend by apartment buyers; <a href="/news">Melbourne </a>($649m), <a href="/news">Southbank </a>($378m), <a href="/news">South Yarra</a> ($353m), <a href="/news">Docklands </a>($346m) and <a href="/news">Brighton </a>($307m) 
</li>
<li>Suburb with the most house sales over $2m, <a href="/news">Brighton </a>with 147 
</li>
<li>Suburbs with the largest house blocks sold; <a href="/news">Park Orchards</a>, <a href="/news">Belgrave South</a>, <a href="/news">Kalorama</a>, <a href="/news">The Patch</a> and <a href="/news">Sassafras</a> 
</li>
<li>Suburbs with the largest increase in sale price for houses: <a href="/news">Ashburton</a>, <a href="/news">Balwyn North</a>, <a href="/news">Fairfield</a>, <a href="/news">Kew East</a> and <a href="/news">Balwyn</a> 
</li>
<li>Municipalities with the largest increase in sale price for houses: Monash, Glen Eira, Manningham, Whitehorse and Yarra 
</li>
<li>Municipalities with the least increase in sale price for houses: Hume, Cardinia, Mornington Peninsula, Nillumbik and Brimbank 
</li>
<li>Suburbs with the least increase in median advertised rents for houses: <a href="/news">Brighton</a>, <a href="/news">South Melbourne</a>, <a href="/news">Middle Park</a>, <a href="/news">Sandringham </a>and <a href="/news">Armadale</a> 
</li>
<li>Suburbs with the largest increase in median advertised rents for houses: <a href="/news">Balwyn</a>, <a href="/news">Caulfield South</a>, <a href="/news">Fitzroy North</a>, <a href="/news">Beaumaris </a>and <a href="/news">Carlton</a> 
</li>
<li>Suburbs with the highest proportion of houses advertised for sale: <a href="/news">Mount Eliza</a>, <a href="/news">Taylors Hill</a>, <a href="/news">Point Cook</a>, <a href="/news">Pakenham </a>and <a href="/news">Mount Martha</a>
</li>
</ul>
</body></html>

Melbourne gears up for 1,000 plus auctions: RP Data's weekend preview

<html><body>
A preliminary weighted average clearance rate of 70.8% was recorded this week across capital cities compared to 74.1% last week and 72% this time last year.
This week will have added to the already substantial growth in auction volumes this year across capital cities. Prior to this week there had been 61,056 auctions in capital cities,33.6% more than the 45,696 held over the same time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Capital-city.jpg" rel="wp-prettyPhoto[g3714]"><img class="aligncenter wp-image-3715 size-large" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Capital-city-580x434.jpg" alt="RP Data auction comment | Capital Cities" width="580" height="434"></a>
In Sydney a preliminary clearance rate of 78.3% was recorded compared to 80.1% last week. Last week was only the fifth time in the past five years a clearance rate of over 80% was achieved and this week has returned a similar result.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Sydney.jpg" rel="wp-prettyPhoto[g3714]"><img class="aligncenter size-large wp-image-3716" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Sydney-580x391.jpg" alt="RP Data auction comment | Sydney" width="580" height="391"></a>
In Melbourne there was a preliminary clearance rate of 70.5% recorded on the first week with over 1,000 auctions for the spring season compared to 76.6% last week. Higher volumes have translated into more sales, so far this year there have been five homes sold at auction for every four last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-melbourne.jpg" rel="wp-prettyPhoto[g3714]"><img class="aligncenter size-large wp-image-3717" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-melbourne-580x389.jpg" alt="RP Data auction comment | Melbourne" width="580" height="389"></a>
In Brisbane a preliminary clearance rate of 49.4% was recorded compared to 44.7% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-brisbane.jpg" rel="wp-prettyPhoto[g3714]"><img class="aligncenter size-large wp-image-3718" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-brisbane-580x384.jpg" alt="RP Data auction comment | Brisbane" width="580" height="384"></a>
Adelaide recorded a clearance rate of 62.7% compared to 68.8% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Adelaide.jpg" rel="wp-prettyPhoto[g3714]"><img class="aligncenter size-large wp-image-3719" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Adelaide-580x392.jpg" alt="RP Data auction comment | Adelaide" width="580" height="392"></a>
In Canberra a clearance rate of 52% was recorded and in Perth there was a clearance rate of 43.8%.
</body></html>

Capital city auctions deliver healthy returns: RP Data's national auction wrap

<html><body>
The August RP Data CoreLogic Home Value Indices results released this month show a rise in dwelling values of 0.8% in Melbourne and a 7.6% rise this year.
A detailed review of the market shows that the most expensive segment of the market, (25% most expensive houses), recorded the highest value growth this year.
This segment of the market will be interesting to follow this spring and over summer as there is a strong correlation with the performance of the auction market.
In the first eight months values rose by 9.6% compared to 8.7% for the middle of the market, and 3.7% for the most affordable segment.
All segments of the market for houses have outperformed the unit market with the exception of the most affordable segment. Values of the most affordable 25% of the unit market have grown by 4.4% this year compared to 3.7% for houses.
A longer term view of the market, comparing its performances since the last peak in values, reveals a slightly different picture. Values for houses in the most expensive and middle segments of the market peaked in October 2010. Since that time it is the middle of this market that has seen the strongest increase in values of 9.8% compared to 7% for the most expensive segment.
Given most of the people selling will have bought their homes before 2010, it is this longer-term view that is more relevant.
There are 927 auctions scheduled this week in Melbourne compared to 975 for the same time last year. The highest number of auctions is expected in the <a href="/news">Prahran</a> where 19 are scheduled.
As the market enters spring there are fewer homes on the market than a year ago with 28,988 active listings in Melbourne and 54,619 in Victoria. 12 months ago the comparable number was 32,454 in Melbourne and 58,664 in Victoria. This is a positive sign as it highlights a more active market with more buyers.
The extent that this translates into higher prices will depend in many ways on the volume of new listings. Thankfully for buyers the number of homes being newly listed for sale is rising compared to last year.
Time on market results for houses sold at private sale fell from 47 days to 45 days over the last week whilst vendor discounting rose from -5.3% to -5.6%.
Key data
<ul>
<li>Clearance rate week ending 7 September: 73.5%</li>
<li>Melbourne auctions expected week ending 14 September: 927</li>
<li>Melbourne private sales time on market week ending 7 September: 45 days (houses)</li>
<li>Melbourne vendor discounting market week ending 7 September: -5.6% (houses)</li>
<li>Listings being prepared for market are -1.1% lower in month ending 7 September (seasonally adjusted)</li>
</ul>
</body></html>

Melbourne's most expensive houses record largest value growth: RP Data's weekend auction preview

<html><body>
A preliminary weighted average clearance rate of 74.4% was recorded this week across capital cities compared to 72.9% last week and 74.9% this time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Capital-city.jpg" rel="wp-prettyPhoto[g3692]"><img class="aligncenter size-large wp-image-3697" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Capital-city-580x431.jpg" alt="RP Data auction review | Capital cities" width="580" height="431"></a>
Results across capital cities this week, especially Sydney, provide a clear indication that this will be good spring for sellers.
In Sydney a preliminary clearance rate of 82.4% was recorded compared to 79.9% last week. Clearances around 80% in Sydney indicate a high level of competition and confidence from buyers.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Sydney.jpg" rel="wp-prettyPhoto[g3692]"><img class="aligncenter size-large wp-image-3696" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Sydney-580x381.jpg" alt="RP Data auction review | Sydney" width="580" height="381"></a>
In Melbourne this spring is shaping as a better one than last year with more homes being listed and sold as both sellers and buyers are confident of a good outcome. There was a preliminary clearance rate of 75.1% recorded compared to 73.5% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Melbourne.jpg" rel="wp-prettyPhoto[g3692]"><img class="aligncenter size-large wp-image-3695" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Melbourne-580x378.jpg" alt="RP Data auction review | Melbourne" width="580" height="378"></a>
In Brisbane a preliminary clearance rate of 49.4% was recorded compared to 46.8% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Brisbane.jpg" rel="wp-prettyPhoto[g3692]"><img class="aligncenter size-large wp-image-3694" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Brisbane-580x384.jpg" alt="RP Data auction review | Brisbane" width="580" height="384"></a>
Adelaide recorded a clearance rate of 70.2% compared to 64.9% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Adelaide.jpg" rel="wp-prettyPhoto[g3692]"><img class="aligncenter size-large wp-image-3693" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Adelaide-580x383.jpg" alt="RP Data auction review | Adelaide" width="580" height="383"></a>
In Canberra a clearance rate of 55.6% was recorded and in Perth there was a clearance rate of 28.6%.
</body></html>

Spring market off to a flyer: RP Data's national auction wrap

Longstanding Gold Coast and Canberra developer <a href="https://www.apartments.com.au/developers/morris-property-group">Morris Property Group</a> is continuing to roll on with its Glitter Strip apartment pipeline, seeking to return to Mermaid Beach with a new 68-apartment development.

Morris, founded by Barry Morris in 1978 and one of the Gold Coast’s most prolific apartment developers over the past two decades, has filed plans for a 12-storey mixed-use building at <a href="https://www.apartments.com.au/new-apartments/36-seabeach-avenue-mermaid-beach-qld-4218">34-36 Seabeach Avenue</a>, on the prized eastern side of the Gold Coast Highway.

The 1,227 sqm site occupies a prominent corner position at Seabeach Avenue and the Gold Coast Highway, opposite the Mermaid Plaza retail and office precinct and around 140 metres walking distance from the future Mermaid Beach South light rail station.

<a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a> has designed the project, which will comprise 68 apartments across a mix of 48 two-bedroom and 20 three-bedroom residences.

The building will rise 12 storeys, reaching a maximum height of 36 metres, with the apartments accounting for a total of 156 bedrooms. The development application also seeks approval for short-term accommodation across the 68 apartments, while two office tenancies are proposed at ground level.

The plans show 108 car spaces across the development, with parking accommodated at ground level and within a three-level basement accessed from Seabeach Avenue.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="c2175c99-12fd-4a3c-9be1-89bbf258a90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.41%E2%80%AFPM_0.png?VersionId=iNLzWcE6gaAE76rafhEXfHve.4g4Se0p" />

Resident amenity will be concentrated on level two, where Fraser &amp; Partners has designed a recreation deck with a swimming pool, 90 sqm pool terrace, outdoor barbecue area and gym.

The broader communal offering will also incorporate landscaped spaces, with the planning documents noting the amenity has been designed to provide areas for recreation, social interaction and outdoor living.

The proposal would continue the transformation of the Gold Coast Highway corridor through Mermaid Beach ahead of the arrival of the light rail.

The site is zoned Neighbourhood Centre and sits within the Mermaid Beach/Broadbeach Light Rail Corridor neighbourhood plan. While the prescribed building height is 24 metres, the site is identified within an Urban Neighbourhood context providing for a 50 per cent height uplift to 36 metres.

Planning documents describe the stretch of the Gold Coast Highway between Broadbeach and Nobby Beach as increasingly characterised by medium and high-rise development, with the proposed Morris tower joining projects including Ventura, The Alfred, Oceans and Otto.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="911f193f-e381-4a55-be08-58be87fcf978" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.48%E2%80%AFPM.png?VersionId=oxVvLJaY.SOXEdXrIcogfyEXDfvCmmpM" />

The development would mark Morris Property Group's latest investment in Mermaid Beach, where it has already delivered two apartment projects.

Otto, at 1 Bondi Avenue on the western side of the Gold Coast Highway, comprises 70 apartments across nine storeys. The project was completed in 2019 and includes a residents' gym, recreation deck and swimming pool.

Morris also developed Oceans at 46 Ocean Street, a nine-storey, 70-apartment build-to-rent development completed in 2019. Oceans was the group's first build-to-rent project and incorporates commercial space at ground level.

The two existing Morris projects sit further north along the same Gold Coast Highway corridor as the proposed Seabeach Avenue development. Fraser &amp; Partners' planning analysis specifically identifies both Otto and Oceans among the established built-form precedents surrounding the site.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="14925119-7b71-4812-8149-340317512c7c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%203.00.15%E2%80%AFPM.png?VersionId=aEJqYuw_nTCjcin17BSD0piB1EFotTlj" />

Mermaid Beach represents only part of Morris' considerable Gold Coast footprint.

The family-owned developer has been particularly active in neighbouring Broadbeach, delivering projects including Sierra Grand, Eclipse, Synergy, Qube, Koko, Opus and Malo, while its current pipeline includes Maison and the two-tower Crest development.

Further south, Morris has also developed a string of projects in Burleigh Heads, including Element, Boardwalk and Sandbar, while Essentia expanded its footprint north into Surfers Paradise.

The Seabeach Avenue application has been lodged by PMM Broadbeach Pty Ltd and seeks a development permit for a Material Change of Use for multiple dwellings, short-term accommodation and office uses. Zone Planning Group prepared the planning application, with Fraser &amp; Partners commissioned as architect.

The project comes as the developer continues to expand its Gold Coast pipeline while retaining a significant presence in Canberra. Morris now has more than $2.5 billion of development in its national pipeline and has delivered more than 7,000 homes during its near five-decade history

Joel Robinson

First look: Morris Property Group returns to Mermaid Beach with new Seabeach Avenue apartment development

<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developers/fortis&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw3hvFB2uWTRfEyEcpTSnnK9" href="https://www.apartments.com.au/developers/fortis" target="_blank">Fortis</a>&nbsp;is continuing its stronghold on Sydn​ey’s eastern suburbs apartment market, launching&nbsp;in September&nbsp;its latest boutique&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developments/double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw0GI5S9-wNeiLUnM-d1uYkw" href="https://www.apartments.com.au/developments/double-bay-nsw-2028" target="_blank">Double Bay</a>&nbsp;development,&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw2YNouJQcFjiTTgVHbgDLA-" href="https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028" target="_blank">55 William</a>.

55 William presents&nbsp;just eight north-facing&nbsp;two-bedroom, three-bedroom and full-floor&nbsp;residences to the market, priced from $4.5 million.

The upcoming launch comes just weeks after Fortis secured approval for the $80 million development, its third eastern suburbs approval in two months. Construction is already underway, with completion targeted for 2028.

[smartcode_project:default project_id=152579 project_image_fid=376250]

55 William adds to a growing concentration of Fortis projects in and around Double Bay, a market the developer has become increasingly active in over recent years.

Fortis previously completed the nine-residence Marmont on New South Head Road, while it is currently developing a mixed-use residential and retail project at 12 Cross Street. Its wider Double Bay footprint also extends into commercial and retail development.

The developer's broader Sydney residential pipeline is particularly concentrated across the eastern suburbs, with projects spanning Doub​le Bay, Ro​se Bay, Wo​ollahra, Dar​ling Point, Poi​nt Piper and Eli​zabeth Bay.

[smartcode_project:default project_id=152579 project_image_fid=376253]

At 55 William, Fortis has again turned to MHN Design Union, the architecture practice behind several of its eastern suburbs projects, while London-based 1508 London has been appointed to handle the interiors and Wyer &amp; Co the landscaping.

The six-level building will comprise a combination of two and three-bedroom apartments, including a garden residence, full-floor apartments, a sub-penthouse and penthouse. Each residence will have secure basement parking and private outdoor space.

A rooftop terrace for all residents, along with select apartments, enjoys views across Double Bay Harbour and toward the Sydney skyline.

Ceiling heights will reach up to three metres&nbsp;in select residences, while the kitchens will feature natural stone and integrated Gaggenau appliances.

&nbsp;

&nbsp;

The boutique nature of the project reflects the type of stock Fortis has increasingly targeted across Sydney's eastern suburbs, where larger apartments and smaller buildings are being pitched primarily toward local owner-occupiers and downsizers.

Fortis Group General Manager Ed Eve said the developer continues to see demand from buyers wanting to remain in the eastern suburbs but move into newer, lower-maintenance housing.

“We're seeing continued demand from local owner-occupiers and downsizers looking for high-quality homes that allow them to remain in the eastern suburbs, close to the lifestyle and community they know,” Eve said.

55 William is also one of the early projects to respond directly to the NSW Government's Low and Mid-Rise Housing reforms. Fortis had previously secured approval for just two townhouses on the 599 sqm site before revising the scheme to eight apartments following the planning changes.

Situated one street back from Double Bay's water's edge, the project enjoys an enviable harbourside setting within walking distance of Double Bay Village and the ferry wharf.

[smartcode_project:default project_id=152579 project_image_fid=376252]

Fortis has increasingly made the eastern suburbs a major focus of its Sydney pipeline. Beyond Double Bay, it recently completed the 14-residence Piper in Point Piper and has projects underway or planned across Rose Bay, Woollahra and Darling Point.

The developer recently secured approval for Verano in Rose Bay, a six-level development comprising 21 two, three and four-bedroom apartments, also designed by MHNDU.

55 William&nbsp;is soon to be release to the market with VIP appointments commencing early September,&nbsp;with residences priced from $4.5 million.

[smartcode_project_cta:default project_id=152579]

Fortis continues eastern suburbs push with 55 William launch

UAE-based developer Arada has unveiled plans for a $2 billion twin-tower apartment development in Broadbeach, marking its first move into Queensland as it continues its rapid expansion across Australia.

Arada will develop 952 apartments across two towers on a prominent site opposite the Gold Coast Convention and Exhibition Centre, with the project targeted for completion ahead of the Brisbane 2032 Olympic and Paralympic Games.

The project represents Arada's largest commitment to the Australian market since arriving in the country in 2024 and significantly expands a local pipeline that has now grown to eight projects and more than 5,000 homes.

It will also be the first major Queensland project delivered by Roberts Co since the tier-one contractor was acquired by Arada Group in 2025.

Plus Studio has designed the Broadbeach development, which will comprise one, two and three-bedroom apartments across two towers connected by a landscaped podium.

A significant resident amenity offering will include lagoon and lap pools, a gym, sauna and steam room, alongside a mist room, infrared room and salt scrub facilities. Communal terraces, private dining areas, a library, residents' lounge and work-from-home spaces are also planned. Around 1,200 sqm of retail and hospitality space will occupy the ground floor.

The site puts Arada in one of the Gold Coast's most active apartment markets, directly opposite the convention centre and within walking distance of Pacific Fair, The Star Gold Coast and Broadbeach's dining and retail precinct.

It also has immediate access to the Gold Coast light rail network and sits just a few blocks from the beach.

Arada Group Chief Executive Ahmed Alkhoshaibi said Broadbeach represented an opportunity for the developer to expand beyond its initial NSW pipeline.

“Broadbeach is a world-class address that gives us the canvas to create a community of exceptional design and lifestyle quality that genuinely enriches the daily lives of the people who call it home,” Alkhoshaibi said.

“This is our first development outside New South Wales, and it reflects our growing ambition to grow in key urban markets around the country.”

Alkhoshaibi said bringing Roberts Co into the project would give Arada greater control over the development and construction process.

“Delivering this project through Roberts Co, our own tier-one construction business, means we can bring the quality, pace and accountability that our buyers expect.”

The move into Broadbeach comes as Arada accelerates its Australian expansion following its entry into the market two years ago. The developer has assembled a pipeline of eight projects comprising more than 5,000 homes, while the acquisition of Roberts Co last year gave the group its own Australian construction capability.

Globally, Arada has a development portfolio valued at $50 billion comprising more than 55,000 homes across the UAE, United Kingdom and Australia.

The Gold Coast is emerging as the next major market for the developer, with strong population growth and infrastructure spending ahead of the 2032 Games continuing to underpin significant apartment development across the coastal strip.

Arada plots $2 billion Broadbeach towers in major Queensland move

Sydney’s downsizer market is changing, with a growing cohort of buyers prioritising the right home over simply finding a smaller one.

Coronation Property Head of Sales Cam Porter says the traditional idea of downsizing does not necessarily reflect what many buyers are now looking for, particularly those moving from established family homes across Sydney.

Instead, he says they are increasingly becoming “right-sizers”, seeking lower-maintenance homes without sacrificing the space, amenity or quality they have become accustomed to.

“We are increasingly seeing buyers who are not motivated by the idea of simply moving into a smaller property,” Porter says.

“They are right-sizers. They want a home that is easier to manage and better connected, but they still expect generosity, quality and a floorplan that supports the way they live.”

It is a subtle but important distinction in a market where apartment developers are increasingly targeting established owner-occupiers.

[smartcode_project:default project_id=135149 project_image_fid=377495]

For many of these buyers, moving from a house to an apartment is not driven by a desire to dramatically reduce their living space. Instead, the appeal is in removing some of the maintenance associated with a larger home while retaining generous living areas, storage and enough flexibility to accommodate family and friends.

Coronation’s sales team is seeing buyers place particular importance on natural light, practical storage and additional rooms that can be used as guest bedrooms, home offices or secondary living spaces.

Kitchens and dining areas are also playing an increasingly important role, particularly for buyers who regularly entertain or have children and grandchildren visit.

[smartcode_project:default project_id=135149 project_image_fid=377494]

“These buyers still want their home to feel generous,” Porter says.

“They may want less maintenance, but they are not looking for less life.”

The challenge for the broader housing market is providing enough of the right stock to encourage that move.

While much of the discussion around Sydney’s housing shortage has centred on the number of homes being delivered, Porter says the diversity of those homes is equally important.

Older homeowners can remain in large family houses for longer when they cannot find an appropriate alternative in the neighbourhoods where they have built their lives.

“The decision is rarely as simple as wanting fewer bedrooms,” Porter says.

“People are weighing up their connection to a neighbourhood, the space they need for family, the quality of the home and whether it will continue to work for them over the long term.”

It also has implications beyond the downsizer market. Providing suitable apartments for smaller households can free up established houses for families who need the additional bedrooms and land, creating greater movement through the housing market.

<h2>Lillian targets the next stage of apartment buyer</h2>

It is a buyer Coronation is targeting at <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, its new collection of apartments, terraces and penthouses at Erskineville Village.

Designed by Silvester Fuller, Lillian has been shaped around larger living spaces, natural light and flexible floorplans, alongside landscaped areas, wellness amenity and communal spaces for residents.

The development will form part of Coronation’s broader Erskineville Village precinct, which will combine new homes with green space, retail, hospitality and new pedestrian connections.

[smartcode_project:default project_id=135149 project_image_fid=377688]

McPherson Park will sit at the centre of the precinct, creating a significant new green space alongside the project’s retail and hospitality offering.

For Porter, the opportunity is to give buyers another housing option without forcing them to leave the part of Sydney they already know.

“People should be able to change the type of home they live in without having to change their entire life,” he says.

“For many buyers, Lillian offers the opportunity to remain connected to the Inner West and the city, while gaining access to a more convenient, walkable and considered way of living.”

[smartcode_project:default project_id=135149 project_image_fid=377687]

Coronation will explore the changing <a href="https://lillianresidences.com.au/news/lillian-x-space-x-downsizers-event-27-august/">right-sizer market at an event on August 27</a>, bringing together experts across property, design and lifestyle.

Held in partnership with SPACE, Poliform and Downsizer.com.au, the event will include a property market outlook from economist Michael Blythe alongside discussion around the considerations facing buyers planning their next move.

Attendees will also be able to learn more about the residences and amenity planned at Lillian Erskineville.

[smartcode_project_cta:default project_id=135149]

From downsizing to right-sizing: What Sydney buyers want from their next home

Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.

<a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.

Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.

[smartcode_project:default project_id=134873 project_image_fid=376196]

Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.

Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.

At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.

[smartcode_project:default project_id=134873 project_image_fid=376194]

The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.

Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.

Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.

[smartcode_project:default project_id=134873 project_image_fid=376181]

Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.

Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.

Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.

[smartcode_project_cta:default project_id=134873]

Robert Larocca

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News