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Despite COVID-19, the Sydney property is strongly forging ahead with auction clearance rates tracking at levels similar to those of 12 months ago, according to RiskWise Property Research.
Houses achieved a 71.1 per cent preliminary clearance rate and, overall, of the total volume of 625 properties, a 69.5 per cent clearance rate.
The volume of auctions was 18 per cent higher than a year earlier according to CoreLogic, and the final auction clearance rate is expected to finish at around 64 per cent, marginally above the decade average.
RiskWise CEO Doron Peleg said this was another consistent result, and similar to those seen in recent weeks.
“When you have a larger volume and higher clearance rates, this means that we have a stronger market,” Mr Peleg said. 
“Houses, in particular, are showing strong results while units achieved only 66.3 per cent clearance rate which shows that, as expected, they have less resilience.
“Houses in Sydney also performed well last week with clearance rates recently running above those for units.
“Overall, the 69.5 clearance rate for Sydney is similar to results achieved around the same time last year when the Sydney property market was enjoying a strong recovery period following the election results, interest rate cuts and some loosening of the credit restrictions, particularly in relation to APRA's floor assessment.” 
This week, the top performing areas in Sydney, based on the preliminary figures, were the Northern Beaches (81.3%) and the Inner West (77.8%).
Buyers Buyers COO Pete Wargent said home buyers with long-term holding strategies were well positioned to negotiate aggressively to purchase high-quality houses that usually enjoyed very strong demand and were sold through auction campaigns at premium prices.
“The average holding period of houses in Sydney, that in 75.9 per cent of cases belong to owner-occupiers, is 12.2 years. This means owner-occupiers with secure jobs and no serviceability issues are not impacted by short-term market movements, unless they need re-finance,” Mr Wargent said. 
He said the Sydney property market delivered solid capital growth of 22 per cent in the past five years with popular areas enjoying even stronger results.
For example, houses in Paddington experienced price increase of 56 per cent and in St. Peters houses saw capital growth of 51 per cent during that period. 
This shows that although there were credit restrictions by APRA, scrutinising of loan applications as a result of the Royal Commission and material price reductions due to fears of changes to negative gearing and capital gains tax until the election result in May 2019, houses in Sydney enjoy strong demand and deliver solid capital growth. 
In addition, over the medium and the long term, solid price growth is highly likely for houses, particularly due to a systematic undersupply in the inner and middle rings, and also in the more affordable outer areas with good access to the CBD, such as the western suburbs.
“What this all means is now is the time to buy if you are a first home buyer or an owner-occupier as this current slowdown in the property market is only temporary, with houses in popular areas likely to experience solid capital growth in the medium to long term.
“Once the COVID-19 issue is resolved, most likely in 2021, the traditional connection between low interest rates and increase in dwelling prices is likely to take place.”
Other top performing areas included Newcastle and Port Macquarie, with a clearance rate of 80.0 per cent, clearly demonstrating that the demand for lifestyle locations is playing a key role in the property market.
Mr Wargent stressed, however, that investors buying rental apartments unsuitable for families were taking an enormous gamble, with both equity and cash flow risk expected to materially increase.
Serviceability is also a major factor for investors who rely on a stable rental income to cover the costs associated with property, particularly the mortgage.
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j.ballantyne1990-6AQqhLzZaK

Houses in Sydney deliver 71% clearance rate

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EXPERT OBSERVER 
One of the most striking responses to the COVID-19 pandemic has been the sudden shift of around half the workforce to working at home.
In many cases, this was combined with an equally sudden shift to home schooling.
Contrary to what might have been expected, working from home was one part of the pandemic response that went remarkably smoothly. Most kinds of office work continued almost as if nothing had changed.
Discussion of the crisis has mostly worked on the assumption that a return to something like the pre-crisis “normal” is both inevitable and desirable.
But the unplanned experiment we have been forced to undertake suggests we might have stumbled upon a massive opportunity for a microeconomic reform, yielding benefits far greater than those of the hard-fought changes of the late 20th century.
The average worker spends an hour on commuting every work day. Remarkably, this is a figure which has remained more or less stable since Neolithic times, a finding known as <a href="https://bigthink.com/strange-maps/marchettis-constant?rebelltitem=5#rebelltitem5" target="_blank">Marchetti’s Law</a>. (The same observation has been attributed to Bertrand Russell.)
<a href="https://images.theconversation.com/files/356223/original/file-20200903-16-ucfv9r.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/356223/original/file-20200903-16-ucfv9r.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
 Marchetti’s Law says we spend about an hour travelling to work whatever the era.
If working from home eliminated an hour of commuting, without changing time spent on work or reducing production, the result would be equivalent to a 13% increase in productivity (assuming a 38-hour working work).
If half the workforce achieved such a gain, it would be equivalent to a 6.5% increase in productivity for the labour force as a whole.
For a comparison, let’s look at the radical microeconomic reforms of the 1990s, including privatisation, deregulation and national competition policy.
In 1995 the main advocate of these reforms, the Productivity Commission, then called the Industry Commission, estimated they would increase national income by <a href="https://www.pc.gov.au/research/supporting/hilmer-reform-implications/hilmer.pdf" target="_blank">5.5%</a>.
In retrospect, that estimate appears to have been over-optimistic.
Although there was an upsurge in measured productivity growth in the mid-1990s, the total increase relative to the long-term trend was less than <a href="https://www.researchgate.net/publication/24125267_Stories_about_productivity" target="_blank">1 percentage point per year</a> above normal. Low productivity growth since then has <a href="https://www.pc.gov.au/research/ongoing/productivity-insights/recent-productivity-trends" target="_blank">wound back</a> those gains.
<h2>These gains are big, compared to those we sweated on</h2>
Even so, those reforms were, and to a large extent still are, widely seen as a crucial contributor to economic prosperity.
So, an improvement of 6.5% would be a huge benefit. It would be enough over a few years to offset the economic costs of the lockdown and many other impacts of the pandemic.
But, as in the case of microeconomic reform, this initial estimate may be misleading. And even if there are real benefits on average, it’s important to ask who will get them and who, if anyone, will lose.
A study by Harvard and New York University economists finds that people working from home spend around 48 minutes more time per day <a href="https://www.nber.org/papers/w27612" target="_blank">connected to their offices</a>, leaving an average gain in free time of only 12 minutes per day.
It seems likely, however, that at least some of this time is spent on household tasks, especially to the extent that workers had to take on child care and home schooling during the lockdown period. And, as well as saving commuting time, workers also save the monetary costs of commuting and at least some of the time spent getting ready for work.
On balance, it seems clear that on average working from home yields net benefits.
However, workers for whom social contacts at work represent a significant “fringe benefit” will lose that benefit, while other workers who value privacy or separating work and social life will gain a benefit.
<h2>It’ll be harder for managers…</h2>
Similarly, those who rely on chatting to colleagues to develop ideas will lose something relative to those who prefer more systematic approaches to obtaining information relying on electronic contact.
Another group of workers who might lose from remote working are <a href="https://www.afr.com/work-and-careers/workplace/middle-management-the-laggards-on-working-from-home-20200524-p54vwb" target="_blank">middle managers</a>.
To the extent that management depends on “presenteeism”, that is, physically keeping an eye on workers, remote working presents problems.
Intrusive checking on computer activity is likely to be resisted and evaded. Managers will have to learn to manage by objectively assessing results rather than observing what people do, and to get that evidence accepted further up in the hierarchy.
<h2>…manageable for employers</h2>
For employers, the shift to working from home has had little immediate impact. Workers wages haven’t changed and, at least in the short run, neither has spending on office space.
But, in the long run, remote working offers the possibility of much greater flexibility in hiring. Some employers such as Facebook’s Mark Zuckerberg have already floated the idea of paying workers less because they can now live in cheaper locations, setting the stage for future conflict.
For the most part, disputes over sharing the benefits of remote office work will be hashed out between employers, workers and unions, in the ordinary workings of the labour market.
But what about the other half of the workforce, who don’t have the option of working from home? In particular, what about the mostly low-paid service workers who depend on people coming into offices?
If the productivity gains made possible through remote work are to be shared by the entire community, substantial government action will be needed to make sure it happens.
Most obviously, the higher rate of JobSeeker allowance has helped us get through the pandemic without the upsurge in suicide and other measures of social distress predicted by many. Returning to the poverty-level unemployment benefit (the old Newstart) would be a disaster.
<h2>We’ll need to change the way we support workers</h2>
The pandemic has shown how whole sectors of the economy, such as aged care, rely on casual workers piecing together multiple jobs, with no access to standard conditions like sick leave. Younger workers in particular suffer from underemployment and difficulties in making the transition to permanent full-time work.
What will be needed is both an expansion of publicly funded employment in a wide range of services, including aged care, and a reversal of trends towards casual and contract employment.
Disastrous though it has been, COVID-19 has taught us a lot about ourselves and about how our economy and society work. If we learn these lessons, we might be able to benefit and mitigate at least some of the harm done by the disaster.<img src="https://counter.theconversation.com/content/145104/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/john-quiggin-2084" target="_blank">John Quiggin</a>, Professor, School of Economics, <a href="https://theconversation.com/institutions/the-university-of-queensland-805" target="_blank">The University of Queensland</a>
This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/have-we-just-stumbled-on-the-biggest-productivity-increase-of-the-century-145104" target="_blank">original article</a>.
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Have we just stumbled on the biggest productivity increase of the century?

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EXPERT OBSERVER
It became official on Wednesday. The Australian economy is in recession for the first time in nearly three decades.
And the drop in economic activity is unprecedented. GDP fell 7% in the June quarter. The previous biggest post-war fall in Australia was 2% in June 1974.
But Treasurer Josh Frydenberg noted that in March he was told the June quarter contraction might be 20%. In Britain it was.
Bookkeeping aside, the question that matters is how to fight this recession.
Answering it requires an understanding that it is a different type of recession to those we’ve seen before.
As I pointed out <a href="https://theconversation.com/vital-signs-covid-19-recession-is-different-and-we-need-more-stimulus-to-deal-with-it-141037" target="_blank">earlier this year</a> the recessions some of us grew up with in the early 1980s and 1990s were “business cycle” recessions.
They happened because the economy overtook its inbuilt speed limit and pushed up inflation. To curb it, central banks pushed up interest rates, pushed them up too far and choked off investment and spending, sending economic activity backwards.
<h2>A recession like no other</h2>
In 2020 we face a different sort of shock.
COVID-19 has hammered economic activity, even more so in countries such as the United States where it has run out of control.
Many of the opportunities we used to have to spend money (such as airlines, theatre tickets and cafe meals) simply haven’t been there.
They’ll come back when things return to closer to normal, perhaps though the wide deployment of a vaccine.
But we might not spend as we used to.
Some people, out of work or on shorter hours won’t have the capacity to spend. Others will want to rebuild their savings.
And others who have been saving big might decide to keep doing it.
<hr>
Household saving ratio
<a href="https://images.theconversation.com/files/355997/original/file-20200902-22-yq9rjf.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/355997/original/file-20200902-22-yq9rjf.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> 
ABS Australian National Accounts
Australia’s household saving ratio surged to 19.7% in the June quarter.
It’s a peak not reached since 1974 at a time when there was much less of an age pension and superannuation, no Medicare and surging unemployment. In other words, its at a height not reached since people really needed to save.
The Bureau of Statistics says that if household income from all sources including early access to super was counted, the ratio is even higher. Its estimate of what it calls the “household experience savings ratio” is 24.8%.
That means households saved an extraordinary one in every four dollars that came through their doors in the June quarter, up from mere percentage points a few quarters earlier.
Much of it would have been what economists call <a href="https://www.propertyobserver.com.au/https://academic.oup.com/qje/article/132/3/1427/3071924?casa_token=NaR4tX3aSioAAAAA:5a0tN7y4nXtjvyxhO1tit2wcRHuU-NmyYeUJD2Md_gw6wnoLrLkYAwfNWxBE4XkYCfTVh4NeLIfL4rQ" target="_blank">precautionary saving</a>, understandable given how much of the future is uncertain.
<h2>There’s such a thing as too much saving</h2>
But what if this extraordinarily high saving rate lasts beyond the point it is understandable, as it did in Japan.
As with Japan in the 1990s when saving soared, real interest rates are negative. We are so <a href="https://web.mit.edu/krugman/www/japtrap" target="_blank">keen to save</a> we don’t need a financial return.
There were signs of it worldwide, well before the pandemic. President’s Clinton’s Treasury Secretary Larry Summers referred to it as <a href="http://larrysummers.com/2016/02/17/the-age-of-secular-stagnation/" target="_blank">secular stagnation</a>, a term first coined in the 1930s.
Saving more than we are prepared to invest shrinks economic activity. It creates unemployment which itself creates uncertainly, prodding people to save still more than they invest.
It’s one of the reasons worldwide economic growth is low, interest rates are low, and inflation is low.
During the pandemic the government is spending more than A$100 billion on measures such as JobKeeper and JobSeeker.
<h2>If we won’t spend, out government will have to</h2>
Post pandemic it might have to keep spending big on physical and social infrastructure – things such as major projects and better aged care and health care.
If we won’t spend big again, it’ll have to. It’ll need to get the economy’s long term growth rate back up to 2%, or even the <a href="https://treasury.gov.au/speech/the-macroeconomic-context" target="_blank">near 3%</a> the Treasury thinks it is capable of.
It’ll require a lot. 
Australia used to have one of the lowest company tax rates in the developed world, now we have one of the highest. We tax labour income too much and consumption too little. And we have a hopelessly out of date and absurdly complex industrial relations system.
Each of those things are a handbrake on economic growth.
This is an unusual recession and an unusually deep one.
Digging our way out will require us to at first contain and defeat the virus, and then spend like Keynes and <a href="https://www.afr.com/policy/economy/we-can-spend-like-keynes-and-cut-taxes-like-friedman-20200728-p55g2s" target="_blank">cut taxes like Friedman</a>.<img src="https://counter.theconversation.com/content/145484/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/richard-holden-118107" target="_blank">Richard Holden</a>, Professor of Economics, <a href="https://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>
This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/vital-signs-how-do-you-fight-a-recession-without-precedent-145484" target="_blank">original article</a>.
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Vital Signs: How do you fight a recession without precedent?

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An updated mid century modern home in Novar Gardens has sold for $573,000.
Inside the four-bedroom, two-bathroom home, parquetry floors flow underfoot in the combined living, dining and kitchen area where a vertical feature room divider defines the space.
The kitchen is charming with timber bench tops, a feature tile breakfast bar and a dishwasher, plus plenty of storage in the white cabinetry. There is a second living room with a study nook and easy access to two bedrooms with built-in robes.
Outside, a single carport and a garden shed are on offer, as well as gardens and a sunny patio.
Nestled next to The Glenelg Golf Club, Immanuel College and with cosmopolitan Jetty Road a short walk it is situated at 54 St Andrews Crescent.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-08-28%20at%204.51.14%20pm.png" alt="">
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Mid century modern trophy home in Novar Gardens sold

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A mortgagee property in Idalia, a southern suburb of Townsville, has come onto the market.
The five-bedroom, two-bathroom home is listed for $385,000.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-07-30%20at%204.22.45%20pm.png" alt="">
The 700 square metre block includes a manicured front lawn and large backyard.
Its offerings include open plan kitchen and living rooms with an island bench and a two-car garage.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-07-30%20at%204.22.37%20pm.png" alt="">
The property last traded in 2010, selling for $439,000, and before that at $349,000 in 2006.
Located at 22 Lakewood Drive, the home is in close proximity to the Army base and James Cook University, as well as Townsville Hospital.
Michael Martini, from Harcourts Kingsberry, has the listing.
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Idalia, Queensland mortgagee home listed for a $54,000 loss

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A mortgagee house in Kogarah, built almost 100 years ago is has sold following an auction campaign.
Located at 18 Rocky Point Road, it features four bedrooms, two bathrooms, a carport, and a lawn.
The house is in a medium-to-poor condition and came with a $900,000 price guide.
However it sold for $881.000.
The total block comprises of 446 square metres.
Built in 1925, the residence last sold in 2004 for $488,000.
Kogarah’s median house price is $1.175 million.
Trent Tarbey and Emre Kutup, from McGrath Sans Souci, have the listing.
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Kogarah, NSW mortgagee house sold for $880,000

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A Western Australian mortgagee home in Gosnells was originally listed for sale with hopes of $215,000.
It is now seeking just $179,000.
The three-bedroom, one-bathroom home includes a study and a stand alone carport.
Located at <a href="https://www.realestate.com.au/property-duplex+semi-detached-wa-gosnells-133721930">103A Wheatley Street</a>, the property is located close to amenities and was last traded for $128,000 in 2001. 
The listing is held by LJ Hooker's Rick Rispoli. 
The median price for a house in Gosnells is $275,000, according to CoreLogic data.
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Gosnells, Western Australia mortgagee home asking price slashed

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On-site Sydney auctions can host more than 20 people provided the agent complies with a COVID-19 Safety Plan, in a turnaround by the NSW Department of Fair Trading.
Domain reported a NSW Fair Trading spokesperson advised late Friday afternoon that Saturday auctions could go ahead as usual.
“The order is currently being amended to address an anomaly relating to the number of persons allowed on a residential property,” they said.
“In the meantime, an exemption has been made to ensure that inspections and auctions on residential premises can continue.”
The Real Estate Institute president NSW Leanne Pilkington said the peak body had tried to clarify with the NSW Health Department and NSW Fair Trading all last week. 
“We were trying to get an answer literally all week. We were in touch with Fair Trading every day,” she said.
The limit was raised after NSW Fair Trading inspectors discovered auction crowds larger than 20 across Sydney during August.
Ms Pilkington said while she understood the pressure and ever-changing landscape for the government during the pandemic, better communication was integral.
“It’s really frustrating for the news to be shared at 5pm on a Friday. To get the message out to people is really hard. These decisions seem to always happen late on Friday,” she said.
“I just hope that both the Health Department and Fair Trading learn from all of this in that communication with industry stakeholders is really important and timely information is important because we genuinely want to work together.”
Sydney’s preliminary auction rate was 62 per cent from 338 reported results. There were 78 withdrawn amid 437 scheduled auctions. However SQM advised there had <a href="https://sqmresearch.com.au/auctions.php?state=NSW" target="_blank">actually been </a><a href="https://sqmresearch.com.au/auctions.php?state=NSW" target="_blank">578</a>. 
A lakeside Narrabeen home set a record after selling for $4.27 million.
The cul-de-sac 14 Malcolm Street, Narrabeen, attracted five registered bidders.
The top sale was a six-bedroom knockdown home, with a tennis court on 1400 sqm at 41 Newton Road, Strathfield.
There were the 12 registered bidders who topped out a $5,502,000 which was $652,000 above the reserve through Richards Matthew Real Estate.
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Sydney auctions can be attended by more than 20 people

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Melbourne real estate will fully open with safety measures from November 23, the Victorian premier Daniel Andrews advised today.
However from October 26, if the daily average of new cases is fewer than five and there are fewer than five cases with an unknown source in the prior fortnight, agents would be allowed to hold private inspections and to hold outdoor auctions subject to gathering limits.
In the meantime the spring Melbourne real estate market will remain only as online inspections for several more weeks.
Thousands of Melbourne home vendors were hopefully awaiting today's decision to commence their marketing.
The government has confirmed only services related to property settlement and the commencement of or ending of a lease, including removalists, are to be allowed until October 26.
The re-opening was advised by Victorian Premier Daniel Andrews in his five-step road map out of stage four lockdowns from September 14.
If all goes to plan, a fourth step would begin on November 23, provided there were no new cases for 14 days.
All retail would then also be open and the real estate industry would open with additional safety measures.
Restrictions were introduced in late March which included a ban on on-site auctions, with two loosening of rules from May allowing auctions to go ahead with just 10 bidders, which was later raised to 20.
Auctions were banned again when stage four was enacted in August, along with no permissible open for inspections.
Regional Victoria will see its second step begin on September 13 allowing private inspections to resume. But onsite auctions with attendance limits won’t be allowed until the third step.
<div>
<div>
<h2>Breakdown of roadmap for metropolitan Melbourne</h2>
</div>
</div>
<div class="block-content">
<div class="styles__Container-sc-1ylecsg-0 goULFa">First Step from 11.59pm, 13 September 2020 in metro Melbourne</div>
</div>
<div class="block-content">
<div class="styles__Container-sc-1ylecsg-0 goULFa">
<ul>
<li>Curfew eased to 9pm to 5am</li>
<li>Exercise increased to two hours per day</li>
<li>Single "social bubbles"</li>
<li>Public outdoor gatherings of two people or a household for up to two hours</li>
<li>Playgrounds reopen</li>
</ul>
</div>
</div>
<div class="block-content">
<div class="styles__Container-sc-1ylecsg-0 goULFa">Second Step from 28 September 2020 subject to public health advice and if average daily cases are 30-50 in metro Melbourne over previous 14 days.</div>
</div>
<div class="block-content">
<div class="styles__Container-sc-1ylecsg-0 goULFa">
<ul>
<li>Public gatherings increase to up to five people from two households</li>
<li>Schools: staged return for Prep to Year 2, VCE/VCAL and specialist schools in Term 4</li>
<li>Childcare reopens</li>
<li>More workplaces open</li>
<li>Outdoor pools reopen, personal training for up to two people per trainer</li>
<li>Outdoor religious gatherings of up to 5 people plus 1 faith leader</li>
</ul>
</div>
</div>
<div class="block-content">
<div class="styles__Container-sc-1ylecsg-0 goULFa">Third Step from 26 October 2020 subject to public health advice and if daily average is less than five new cases (state-wide) and less than five cases from unknown sources over the previous 14 days (state-wide total).</div>
</div>
<div class="block-content">
<div class="styles__Container-sc-1ylecsg-0 goULFa">
<ul>
<li>Curfew dropped</li>
<li>Leave home – no restrictions on reasons or distance travelled</li>
<li>Public gatherings increased to 10 people outdoors</li>
<li>Visitors at home – up to five visitors from another nominated household</li>
<li>Schools – potential staged return for Year 3 to 10 based on epidemiology</li>
<li>Retail and hairdressing reopen</li>
<li>Hospitality - predominantly outdoor seated service, group limit of 10 and density limits</li>
<li>Sport – staged return of outdoor non-contact sport for adults. Outdoor under 18 years contact and non-contact sport resumes</li>
</ul>
</div>
</div>
<div class="block-content">
<div class="styles__Container-sc-1ylecsg-0 goULFa">Last Step from 23 November 2020 subject to public health advice and if no new cases for previous 14 days</div>
</div>
<div class="block-content">
<div class="styles__Container-sc-1ylecsg-0 goULFa">
<ul>
<li>Public gatherings of up to 50 people outdoors</li>
<li>Visitors at home – up to 20 visitors at a time</li>
<li>Retail - all open</li>
<li>Hospitality – indoor group limit of 20 people for seated service, cap of 50 patrons</li>
<li>Real estate – open with safety measures</li>
<li>Sport – open subject to safety measures, contact sport resumes for all ages</li>
<li>Weddings, funerals – maximum of 50 people</li>
<li>Religion – public worship resumes subject to density quotas</li>
</ul>
</div>
</div>
<div class="block-content">
<div class="styles__Container-sc-1ylecsg-0 goULFa">COVID Normal – starts when no new cases occur for 28 days plus no active cases (state-wide) and no outbreaks of concern in other States and Territories.</div>
</div>
<div class="block-content"> </div>
 
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Melbourne real estate will fully open with COVID-19 safety measures from November 23

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Auction activity is set to be lower across the combined capital cities this week as scheduled volumes plummet across Melbourne.
There are 937 capital city auctions being tracked by CoreLogic this week, down from 1,128 auctions last week and the 1,533 held over the same week last year.
In Melbourne, only 30 properties are expected to be auctioned this week as the city enters its fifth week in stage 4 lockdowns. Last week, 162 homes were taken to auction and one year ago 765 auctions were held across the city.
This week is set to be the lowest number of auctions held over a week in Melbourne, outside of the early January period or Easter.
There are 676 Sydney homes scheduled for auction this week, down from 706 last week, and higher than the 528 held one year ago.
Although there are fewer auctions scheduled relative to last week, the number of auctions held across Sydney has been consistently trending higher since mid-May.
Across the smaller auction markets, Canberra is set to hold the most auctions this week (80), followed by Brisbane (65), Adelaide (64) and Perth (18). While Tasmania has 4 auctions scheduled.
<img src="https://www.urban.com.au/images/2020/9/3/CL%20SEPT%201.JPG" alt="">
Buyer demand remains strong as Australians continue to view property as a safe haven during uncertain times. Throughout August, the Ray White Group conducted 848 auctions with 4.7 average registered bidders per auction, marking an increase on this time last year.
While on the last weekend of August alone, the leading auction agency booked a 66.3 per cent clearance rate and an increase of 1.8 bidders from last year taking the total to 5.4 average bidders.
As Ray White heads into the first weekend of September the group has 126 properties scheduled to go under the hammer. 
Early Saturday morning, buyers will be flocking to the auction of 21 Prince Alfred Pde (pictured in title) in the hopes of securing themselves a slice of Newport paradise.
Tom Fernon and Noel Nicholson of Ray White Prestige (Palm Beach) have overseen the campaign which Mr Fernon described as strong from start to finish.
The four bedroom home has a price guide of $2.2 to $2.4 million.
<img src="https://f.datasrvr.com/f1/620/57161/Castle_Hill.JPG" width="640" data-imagetype="External">
The auction at 3 Rowallan Ave, Castle Hill (pictured above) is shaping up with Ray White Castle Hill sales agent Sara Perry saying she expects it to be one of the best auctions ever to happen in the Hills District.
“We have had a huge amount of interest in Rowallan Avenue and many buyers have said they want the property at whatever the cost so we are expecting some fierce competition,” Ms Perry said.
Also in the afternoon, Ray White Elizabeth Bay’s Renee Cross is confident she’ll be welcoming a new owner to 91 York Rd, Queens Park. While at Killara, Ray White Upper North Shore Agent Domenic Maxwell said he is equally as confident about the auction of 10/5-7 Spencer Rd.
Capping off the day is 8 Burleigh Avenue, Caringbah being sold through Ray White Caringbah Principal Wendy Samrani.
<img src="https://f.datasrvr.com/f1/620/39379/Mont_Albert_North.JPG" width="640" data-imagetype="External">
This weekend, Ray White Blackburn Director Peter Schenck will be auctioning 3 Allison Rd, Mont Albert North from his living room to an audience of online bidders.
Mr Schenck said this will be the office’s first listing marketed entirely in Stage Four lockdown.
“We’ve still been able to take people through a virtual tour done by the vendor and we’re confident the auction will go well,” Mr Schenck said.
“There has been some really solid interest between the $1.1 to $1.2 million mark and we are expecting it to sell on the higher end of that range," he concluded.
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Melbourne to see less than 50 auctions this weekend

<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.

"Eight residences is exceptionally boutique, but that's precisely what this site calls for.

“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Staff reporter

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