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Auction activity has eased slightly this week, with 1,824 capital city auctions held, down from 2,230 last week and also lower relative to the same week last year when 2,232 residential homes were taken to auction.
The preliminary clearance rate across the combined capital cities strengthened slightly this week, from 67.7 percent the previous week to 68.9 percent. One year ago, along with the higher volume of auctions, the clearance rate was also stronger at 77.5 percent.
<a href="/images/2016/05/16/20160516-Capital-city-1.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/16/20160516-Capital-city-1.png" alt="">
After Melbourne was host to 1,404 auctions over the final week in April, and 1,150 last week, the number of Melbourne auctions this week has fallen to 859. The clearance rate, on the other hand, has remained relatively steady, with preliminary results showing 70.6 per cent of Melbourne auctions clearing this week, compared to 73.2 per cent last week. At the same time last year, 78.3 per cent of Melbourne auctions were successful. The busiest Melbourne sub-region this week was the Inner region, with 160 auctions and a preliminary clearance rate of 76.3 per cent. In terms of clearance rates, the most successful sub-region this week was the West region (80.3 per cent).
<a href="/images/2016/05/16/Screen%20Shot%202016-05-16%20at%2011.38.34%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/16/Screen%20Shot%202016-05-16%20at%2011.38.34%20AM.png" alt="">
Preliminary results for Sydney show a 75.6 percent clearance rate across 517 results this week. Over the week there were 614 Sydney homes taken to auction, down from 676 last week and significantly lower relative to last year (885). Sydney’s clearance rate last week was lower in comparison, at 71.8 per cent, while one year ago it was 85.0 percent. Across the individual regions of Sydney there was some varied performance this week with clearance rates ranging from as high as 93.1 percent in Ryde and as low as 26.3 percent in the Outer South West region where just 22 auctions were held.
<a href="/images/2016/05/16/Screen%20Shot%202016-05-16%20at%2011.34.02%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/16/Screen%20Shot%202016-05-16%20at%2011.34.02%20AM.png" alt="">
Brisbane had 153 auctions last week, down from 195 the previous week, which was the busiest for the city in seven weeks. The preliminary clearance rate rose to 51.2 per cent from 41.2 percent the previous week, while last year half of the 136 homes taken to auction were sold. Across the Gold Coast, 34 results have been reported so far with a preliminary clearance of 41.2 per cent.
<a href="/images/2016/05/16/20160516-Brisbane.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/16/20160516-Brisbane.png" alt="">
The preliminary clearance rate for Adelaide this week is 67.9 per cent, up from 59.8 per cent last week and also higher than one year ago (63.8 per cent). Despite the fall in auction activity on an aggregate level, there were more auctions in Adelaide this week (100) compared with last week (94). One year ago, 106 Adelaide auctions were held.
<a href="/images/2016/05/16/20160516-Adelaide.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/16/20160516-Adelaide.png" alt="">
Across Perth, 41 auctions were held this week with 20.0 per cent selling, based on the 15 reported results. Last week showed 23.5 per cent of auctions were sold and 41.9 per cent last year, noting that the cities clearance rate tends to move around a fair bit on a week-on-week basis.
Canberra’s preliminary clearance rate was 58.6 this week, compared to 54.3 per cent last week and 70.3 per cent at the same time last year.  Auction volumes were relatively steady over the week, at 49 compared to 50 over the previous week.
In Tasmania 8 auctions were held over the week and of the 7 reported results, 2 sales have been recorded. 
 
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Preliminary clearance rate edges higher, to 68.9 percent from 67.7 percent last week: CoreLogic RP Data's Shana Miller

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After over 2,000 capital city auctions were held each week for the past two weeks, auction activity has fallen this week, with 1,718 capital city auctions scheduled.
While auction volumes are lower in each of the capital city markets, Adelaide, with 92 auctions this week compared to 94 last week and Canberra, with 47 auctions this week compared to 50 last week have seen the number of auctions held week-on-week remain relatively steady (down less than 10 percent compared to last week).
On the other hand, in the two busiest auction markets, the number of auctions currently being tracked by CoreLogic shows a more substantial fall, with Sydney volumes down around 16 percent and Melbourne auction activity falling by 29 percent.
Capital City Auctions this week:
<ul>
<li>Sydney: 567</li>
<li>Melbourne: 821</li>
<li>Brisbane: 140</li>
<li>Adelaide: 92</li>
<li>Perth: 43</li>
<li>Canberra: 47</li>
</ul>
The busiest individual suburbs for auctions this week are all in Melbourne and located to the south-east of the city, with 14 auctions scheduled in Richmond and 13 auctions scheduled in Glen Iris, Glen Waverley and Mount Waverley.
Summary of last week’s results:
<a href="/images/2016/05/12/20160512-cc-table.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/12/20160512-cc-table.png" alt="">
The final auction clearance rate fell for the third consecutive week last week, down to 67.7 per cent from 69.4 per cent the previous week and 69.7 per cent the week prior to that. Both Melbourne and Sydney maintained a clearance rate above the 70 per cent mark last week, at 73.2 per cent across Melbourne and 71.8 per cent in Sydney. Melbourne’s clearance rate represented a slight fall from the previous weeks result of 73.5 per cent, while Sydney’s clearance rate was virtually unchanged, up only slightly from 71.7 per cent the previous week.
<a href="/images/2016/05/12/20160512-time-series-graph.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/12/20160512-time-series-graph.png" alt="">
In all other cities, clearance rates fell over the week, while across Tasmania, both the clearance rate and volume of auctions were up week-on-week.
Outside of the capital city auction markets, regional markets saw a varied performance last week. On a week-on-week basis, clearance rates rose in Hunter, Wollongong and Geelong, while the two Queensland regions monitored, the Gold Coast and Sunshine Coast recorded a fall in clearance rates (and auction volumes) over the week.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2016/05/20160512-sub-region-table.png" target="_blank">Click to enlarge</a>
<a href="https://blog.corelogic.com.au/wp-content/uploads/2016/05/20160512-sub-region-table.png" rel="wp-prettyPhoto[g6776]"><img class="aligncenter size-full wp-image-6778" src="https://blog.corelogic.com.au/wp-content/uploads/2016/05/20160512-sub-region-table.png" alt="20160512 sub-region table" width="645" height="950"></a>
 
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National auction activity slowing: CoreLogic RP Data's Shana Miller

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After falling away in March, both new listings and the total volume of homes available for sale across Australia have risen in April.
Over the 28 days ending 1 May 2016, the total number of homes available for sale across the nation rose to 241,633, compared to 235,897 over the 28 day period ending 3 April 2016. However, relative to last year, the total volume of stock listed for sale is -1.7 percent lower, despite the number of newly listed properties being 2.5 percent higher than one year ago.
Of the total stock available for sale, 44.4 percent of properties are located within a capital city, where over the 28 days ending 1 May, 107,199 residential properties were available for sale.
Over the same period, 27,073 new listings were added to the market, accounting for almost 62 percent of new listings added nationally. While the total available stock nationally is lower than it was at the same time last year, capital city listing volumes are 5.1 percent higher (while new listings remain comparable to what was seen one year ago, up just 0.9 percent) suggesting a slower rate of absorption is leading to an increase in stock on market.
<a href="/images/2016/05/09/201605-Table.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/09/201605-Table.png" alt="">
In terms of total stock available for sale, across the individual capital cities, Sydney (+22.0 percent), Brisbane (+3.4 percent), Adelaide (+4.7 percent), Perth (+8.6 percent) and Darwin (+12.2 percent) all have more stock available for sale relative to one year ago, while each of the other cities has less stock available for sale.
While Sydney’s listed stock seems much higher than it was one year ago, if we take a look at the same period in 2014, current listings are just 2.7 percent higher. 2015 was a strong year for the Sydney housing market, with annual home value growth peaking at 18.4 percent in July and strong levels of vendor confidence with market metrics such as low levels of vendor discounting, fast selling times, high auction clearance rates and quick stock absorption further demonstrates the strength across the Sydney property market.
Despite current listings being much higher than they were last year, relative to historic levels across the city, total listings in Sydney remain much lower.
To put this into perspective, current listings across the city are -12.5 percent below what they were in 2010, -22.2 percent lower than 2011, and -34.7 per cent lower than 2012. On the other hand, in Darwin and to a lesser extent, Perth, total listings have been trending upwards for some time now, while new listings remain relatively flat.
<a href="/images/2016/05/09/201605-capital-city.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/09/201605-capital-city.png" alt="">
When the regional markets in each state and territory are factored in, Queensland (0.4 per cent), South Australia (7.8 per cent), Western Australia (6.9 per cent) and the Northern Territory (12.8 per cent) are all seeing higher stock volumes than one year ago, while New South Wales (-7.6 per cent), Victoria (-2.9 per cent), Tasmania (-21.0 per cent) and the Australian Capital Territory (-17.4 per cent), all have less residential properties available for sale relative to one year ago.
<a href="/images/2016/05/09/201605-national.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/09/201605-national.png" alt="">
 
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Residential listings trend higher in April: CoreLogic RP Data's Shana Miller

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This week will be the busiest for capital city auction markets since the week prior to Easter, with 2,419 auctions currently being monitored by CoreLogic.
 Compared to last week, auction volumes are higher in each individual capital city market and have almost doubled in Melbourne, up from 602 last week to the current scheduled number of 1,233. 
This week is set to be the busiest for auctions in six weeks for Adelaide, Canberra and Perth, while the number of homes being taken to auction across Brisbane remains relatively steady. Sydney, the nation’s second busiest auction market has 763 auctions scheduled this week. 
 Capital City Auctions this week: 
• Sydney: 763 
• Melbourne: 1,233 
• Brisbane: 141 
• Adelaide: 129 
• Perth: 44 
• Canberra: 101  
The busiest individual suburb for auctions this week is Bentleigh East in Melbourne, with 28 auctions to be held. The second busiest suburb is St Kilda (21), followed by Craigieburn, Malvern East and Reservoir, each with 18 auctions. All five suburbs are located in Melbourne. 
<a href="/images/2016/04/28/Screen%20Shot%202016-04-28%20at%2012.58.31%20PM.png" target="_blank"> Click to enlarge</a>
<img src="/images/2016/04/28/Screen%20Shot%202016-04-28%20at%2012.58.31%20PM.png" alt="">
 Summary of last week’s results
While auction volumes fell slightly last week with 1,565 capital city auctions held, the final auction clearance rate rose slightly, from 67.4 per cent the previous week to 69.7 per cent last week. Sydney was the best performing capital city auction market last week, with both the highest volume of auctions (643) and the strongest clearance rate, at 77.4 per cent, having risen substantially from 69.8 per cent the previous week when auction volumes were lower. Of the 15 individual sub-regions of Sydney, five regions recorded a clearance rate in excess of 80 per cent this week.
In Melbourne, 602 auctions took place and the clearance rate remained steady, at 71.5 per cent over the week. Unlike Sydney, no Melbourne sub-regions recorded a clearance rate above 80 per cent. Across the non-capital city auction markets monitored by CoreLogic, the Hunter region was the strongest performer, with 73.9 per cent of reported auctions successful, up substantially from 44.4 per cent the previous week. Clearance rates improved in each individual regional auction market on a week-on-week basis, with the exclusion of the Gold Coast, where the clearance rate fell from 45.5 per cent the previous week to 40 per cent last week.
 
 
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Busiest auction week since before Easter: CoreLogic RP Data's Shana Miller

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Given the ANZAC day long weekend, auction volumes are expected to dip this week, with 1,372 scheduled, down from almost 1,700 last week.
The amount of auction activity in Melbourne and Sydney this week is virtually the same, with 535 Sydney auctions scheduled and 546 in Melbourne.
On a week-on-week basis, auction activity will be quieter in all cities with the exclusion of Sydney, where volumes are 12 per cent higher and Canberra, where the number of auctions scheduled to take place this week is 6 per cent higher than the previous week.
Capital City Auctions this week:
<ul>
<li>Sydney: 535</li>
<li>Melbourne: 546</li>
<li>Brisbane: 114</li>
<li>Adelaide: 92</li>
<li>Perth: 27</li>
<li>Canberra: 52</li>
</ul>
The two busiest individual suburbs for auctions this week are Mount Waverley (14) and Craigieburn (12), both located in Melbourne. The third busiest suburb, Reservoir, also in Melbourne, was last week’s busiest suburb with 18 auctions, while this week just 11 will be held.
Summary of last week’s results:
<a href="/images/2016/04/21/20160421-cc-table.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/21/20160421-cc-table.png" alt="">
The capital city clearance rate remained stable last week, at 67.4 per cent, up just slightly from 67.1 per cent the previous week. The week-on-week results were also relatively flat across each of the individual capital cities, with only Canberra (up to 68.9 per cent from 61.9 per cent the previous week) and Perth (down to 23.1 per cent from 33.3 per cent the previous week), where clearance rates often move around substantially, seeing any significant changes.
<a href="/images/2016/04/21/20160421-cc-graph.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/21/20160421-cc-graph.png" alt="">
Last week, Melbourne was the strongest performing capital city auction market, with 71.5 per cent of auctions clearing, followed by Sydney, where 69.8 per cent of auctions were successful. Across Melbourne’s Outer East the clearance rate was the strongest (82.1 per cent), and Sydney’s Eastern Suburbs (86.5 per cent) and Sutherland (86.4 per cent) were the stand out performers last week. In fact, so far this year, the Eastern Suburbs clearance rate has only dipped below 79 per cent once.
Outside of the capital cities, auction markets were somewhat lacklustre this week with vendors more likely to not sell at auction than to sell at auction.
<a href="/images/2016/04/21/20160421-sub-region-table.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/21/20160421-sub-region-table.png" alt="">
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Auction volumes expected to dip this week: CoreLogic RP Data's Shana Miller

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GUEST OBSERVER
This week 1,667 capital city auctions were held, less than last week (1,831)  and also less than one year ago (2,603).
Auction volumes were substantially higher last year as there were only two weeks between the Easter long weekend and the ANZAC day weekend. Preliminary results show that 68.6 per cent of auctions were successful this week, marking the third consecutive week of auction clearance rates below the 70 per cent mark. This week’s result is higher than last week (67.1 percent), but much lower than one year ago when 78.9 percent of the capital city auctions held were successful.
<a href="/images/2016/04/19/20160418-capital-city.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/19/20160418-capital-city.jpg" alt="">
Across Australia’s largest auction market of Melbourne 882 residential homes were taken under the hammer this week, with a preliminary clearance rate of 71.7 per cent, falling from 73.2 per cent last week (the strongest result since February) and lower than one year ago (79.5 per cent). While the clearance rate fell, auction volumes rose from 803 last week. The most auction activity for the city was held in the Inner region where 170 homes went to auction and 73.5 per cent of reported auctions were successful.
<a href="/images/2016/04/19/20160418-melbourne.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/19/20160418-melbourne.jpg" alt="">
Sydney has recorded a preliminary clearance rate of 69.7 percent this week across 457 auctions, compared to a low of 67.1 percent last week and a substantial difference from 87.0 percent one year ago, which happened to be the 11th consecutive week for the city of clearance rates over 80 percent, and the city’s clearance rate remained above 80 percent until mid-July. This week’s top performing Sydney sub-region was the Eastern Suburbs with a clearance rate of 87.0 percent, followed by Sutherland (84.2 percent) and North Sydney and Hornsby (80.4 percent).
<a href="/images/2016/04/19/20160418-sydney.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/19/20160418-sydney.jpg" alt="">
The preliminary clearance rate across Brisbane was 53.5 per cent this week, up from 47.7 per cent and also higher than the 46.4 per cent last year. This week 145 Brisbane auctions were held, compared to 160 last week and 140 one year ago. With the two upcoming public holidays, it is expected that Brisbane’s auction market will be relatively quiet over the next two weeks. This week 47 Gold Coast auctions have been reported with 21 sales.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2016/04/20160418-brisbane.jpg" rel="attachment wp-att-6654"><img class="aligncenter size-full wp-image-6654" src="https://blog.corelogic.com.au/wp-content/uploads/2016/04/20160418-brisbane.jpg" alt="20160418 brisbane" width="971" height="653"></a>
Adelaide saw 99 auctions take place this week and based on the 75 results so far, the preliminary clearance rate was 66.7 per cent. Last week Adelaide’s clearance rate was 63.6 per cent, while one year ago it was higher, at 69.7 per cent.
The number of Perth auctions held this week was 30, down from 36 both last week and one year ago. Preliminary results show 28.6 per cent of Perth auctions cleared this week.
Preliminary results for Canberra show the clearance rate for this week sitting at 71.9 per cent, up from 61.9 per cent last week when 68 homes were taken to auction.
There were 9 Tasmanian auctions this week with 5 reported results and 4 sold.
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Capital city clearance rate below 70 percent for three weeks running: CoreLogic RP Data's Shana Miller

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The number of homes being taken to auction is continuing to increase with 1,677 capital city homes scheduled to go under the hammer this week.
While Sydney had more auctions than Melbourne over the past two weeks, this week, Melbourne’s auction activity is set to rise, bringing the total number of residential auctions to 730, as opposed to the 624 scheduled for Sydney.
This week, auction volumes are higher than last week in the two major auction markets of Melbourne and Sydney, while they remain relatively steady across the remaining capital cities.
Capital City Auctions this week:
<ul>
<li>
Sydney: 624
</li>
<li>
Melbourne: 730
</li>
<li>
Brisbane: 145
</li>
<li>
Adelaide: 70
</li>
<li>
Perth: 32
</li>
<li>
Canberra: 65
</li>
</ul>
The three busiest individual suburbs for auctions this week are all located in Melbourne, with 17 auctions scheduled to take place in Mount Waverley, 16 in Reservoir and 14 in Preston.
Summary of last week’s results:
<a href="/images/2016/04/7/20160407-cc-table.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/7/20160407-cc-table.png" alt="">
Across the combined capital cities, clearance rates softened last week from 70.9 percent for the previous week to 66.6 percent last week. Much of the fall in clearance rates was driven by Sydney, which was the busiest auction market over the week, host to 664 auctions and recorded a clearance rate of 69.8 percent, far lower than the 77.9 percent over the previous week.
In Melbourne, the auction clearance rate remained relatively steady, down to 69.2 percent from 71.4 percent the previous week.
<a href="/images/2016/04/7/20160407-graph.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/7/20160407-graph.png" alt="">
Despite the fall in Sydney’s auction clearance rate, there were some very strong sub-regions in the city. City and Inner South (91.4 percent) and Eastern Suburbs (90.5 percent) both saw clearance rates in excess of 90 percent, while in Parramatta only one third of auctions were successful.
The strongest clearance rate across Melbourne was 76.3 percent in the Inner East.
Of the other capital city auction markets, Adelaide was the best performer last week with 71.2 percent of auctions clearing, while in all other cities only around half of the properties taken to auction resulted in a sale.
<a href="/images/2016/04/7/20160407-sub-region.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/7/20160407-sub-region.png" alt="">
 
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Melbourne auction levels outpacing Sydney: CoreLogic RP Data's Shana Miller

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The amount of auction activity across the capital cities increased substantially this week, up from 554 auctions held the previous week to 1,543 held this week.
At the same time last year it was the long weekend for Easter, so auction volumes were lower, with 653 homes taken to auction across the combined capitals. This week the weighted average clearance rate across the combined capitals was 67.0 percent, slipping from 70.9 percent over the previous week when the combined capitals recorded the strongest clearance rate seen in four weeks, despite the low volumes.
<a href="/images/2016/04/4/20160404-Capital-City.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/4/20160404-Capital-City.png" alt="">
There were 567 Melbourne auctions this week, making it the second busiest capital city for auctions after Sydney. This is the second week in a row where the Sydney auction market has been busier than that of Melbourne’s, however Melbourne volumes are expected to climb leading up to the ANZAC day long weekend.   Across the 503 reported results, 68.0 per cent were successful this week, down from 71.4 per cent last week and lower than the 86.5 per cent recorded last year when just 63 Melbourne auctions were held. This week’s strongest performing Melbourne sub-region was the Inner East with 74.4 per cent of auctions cleared, based on preliminary results.
<a href="/images/2016/04/4/20160404-Melbourne.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/4/20160404-Melbourne.png" alt="">
A total of 648 homes were auctioned in Sydney this week, with preliminary results returning a clearance rate of 70.9 percent. Last week, across the 349 auctions in the city 77.9 percent of results were successful, the strongest result for the city since mid-February. In comparison, over the same week last year 427 Sydney auctions were held and the clearance rate was 84.7 percent. The busiest regions for auctions across Sydney this week were North Sydney and Hornsby (103 auctions) and Inner South West (84 auctions), while clearance rates ranged from as high as 94.1 percent in City and Inner South to as low as 28.0 percent in Parramatta.
<a href="/images/2016/04/4/20160404-Sydney.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/4/20160404-Sydney.png" alt="">
Across Brisbane, auction volumes rose from 48 last week to 140 this week, with a preliminary clearance rate of 57.0 per cent, compared to 45.0 per cent last week. The number of auctions being held across Brisbane is likely to be high over the weeks leading up to the ANZAC day long weekend, given there will be two long weekends in a row.  The Gold Coast had 78 auctions this week and so far 47 results have been reported. The preliminary clearance rate for the region was 38.3 per cent this week.
<a href="/images/2016/04/4/20160404-Brisbane.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/4/20160404-Brisbane.png" alt="">
Preliminary results show that 75.4 per cent of Adelaide auctions were successful this week, up from last week (66.7 per cent), but lower than one year ago when 83.3 per cent of the 34 auctions held were successful.
<a href="/images/2016/04/4/20160404-Adelaide.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/4/20160404-Adelaide.png" alt="">
Perth’s preliminary auction clearance rate was 37.5 percent this week. Last week, 6 results were captured across the city, with all having sold. While auction volumes were low last week, this week 37 Perth homes were taken to auction, returning to relatively normal levels for the city.
Based on preliminary results, 52.3 percent of Canberra auctions were successful this week, down from 58.3 per cent last week and lower than one year ago (71.8 percent). There were 67 auctions held in Canberra this week, 26 last week and 49 at the same time last year.
There were 9 auctions held in Tasmania this week with 5 results reported so far. Of the reported results, 2 were successful.
 
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Preliminary clearance rate slips to 67.0 percent: CoreLogic RP Data Shana Miller

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Across the combined capital cities, the auction clearance rate rose slightly to 69.5 percent last week, from 68.8 percent the previous week.
The number of homes taken to auction, however, fell to just 533 across the capital city markets, with Sydney host to the majority of auctions last week (332).
<a href="/images/2016/03/29/20160329-Combined-capital-city.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/29/20160329-Combined-capital-city.png" alt="">
Preliminary results for Sydney show that 77.4 percent of reported auctions (230) were successful, the strongest clearance rate for the city since mid-February this year, however it is likely that this will revise down as further results are captured over the coming days.
In Melbourne, traditionally the country’s largest auction market, there were just 79 auctions held last week, with 54 results reported so far and a clearance rate of 74.1 percent.
<a href="/images/2016/03/29/20160329-Upcoming.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/29/20160329-Upcoming.png" alt="">
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Long weekend returns a slight rise in capital city clearance rate: CoreLogic RP Data's Shana Miller

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This week 1,426 auctions were held across the combined capital cities, substantially lower than the 2,304 held last week and the 2,556 held one year ago.
This coming Monday is a public holiday for four out of the eight states and territories, which has been a key factor in the fall in auction volumes. The combined capital city clearance rate softened this week, down from 68.6 percent last week to 66.4 percent this week.
The two largest auction markets, Melbourne and Sydney, saw their preliminary clearance remain above the 70 percent mark, with Sydney at 72 percent and Melbourne at 70.5 percent, while the highest clearance rate was in Canberra where 75 percent of auctions cleared over the weekend. 
The capital city weighted average was pulled lower by softer clearance rates in Brisbane (44 percent), Perth (46.7 percent) and Tasmania (33.3 percent). One year ago, the weighted average clearance rate was 77.2 percent, substantially stronger than the current result.
<a href="/images/2016/03/14/20160314-Capital-city.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/14/20160314-Capital-city.png" alt="">
Only 414 Melbourne auctions were held this week with a preliminary clearance rate of 70.5 percent. This week’s result shows a slight decrease in the clearance rate for the city, after final results saw Melbourne’s clearance rate at 72.1 percent last week. Over the corresponding week last year, Melbourne’s clearance rate was 78.0 percent across 1,269 auctions. Although the city’s auction activity was quieter this week, there were still sub-regions where auction volumes were relatively high, with Melbourne’s Inner region host to 74 auctions and the West region host to 56 auctions. In terms of clearance rate, North West was the best performer, with 80.6 percent of reported auctions successful this week, followed by Inner South (79.2 percent).
<a href="/images/2016/03/14/20160314-Melbourne.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/14/20160314-Melbourne.png" alt="">
Sydney was the busiest capital city auction market this week, with 680 auctions held and a preliminary clearance rate of 72.0 percent. On the final numbers for last week, 68.7 percent of Sydney auctions were successful, while one year ago the clearance rate was 83.9 percent, significantly stronger than the current results for the city. The number of homes taken to auction this year is also lower than last year when 926 auctions were held. Sydney’s strongest performing sub-regions this week were Ryde (86.2per cent), Eastern Suburbs (84.5 percent) and Inner West (78.6 percent).
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This week 44.0 percent of Brisbane auctions were successful based on preliminary results. There were 151 auctions held in the city, up from 133 last week and 132 at the same time last year. Last week Brisbane’s clearance rate was 50.9 percent, while one year ago it was 47.0 percent. Further south, on the Gold Coast 34 auctions were held this week. Preliminary results show 16 auction outcomes having been reported with a clearance rate of 50.0 percent.
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Adelaide’s preliminary results show 54.2 percent of auctions were successful this week, compared to 65.9 per cent last week and 66.7 percent one year ago. The number of auctions across the city fell to 93 this week, compared to 99 over the previous week.
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There were 35 Perth auctions held this week. Perth’s clearance rate shows a higher level of volatility due to the small proportion of homes being sold via the auction method.  Over the year to date, Perth’s clearance rate has been recorded as low as 21.7 percent the week before last and as high as 46.7 percent this week, across just 15 results. Prior to this week, the highest result for the city was recorded over the final week of January when  44 percent of the 25 reported auctions were successful.
Canberra has recorded another strong result this week with a preliminary clearance rate of 75.0 percent. The number of homes auctioned across the city this week was significantly lower than last week, falling from 88 to 34. At the same time last year 68.8 percent of the 71 auctions were sold.
There were 12 Tasmanian auction results reported this week and based on these preliminary results, 4 have sold.
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Preliminary clearance rate remains below 70 percent for the second week in a row: CoreLogic RP Data's Shana Miller

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Shana Miller

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