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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

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

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Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

Joel Robinson

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

The Gold Coast Planning Committee has supported the preliminary approval for the Benowa Gardens Urban Village project following an extensive community consultation and assessment process.

The proposal will now proceed to a full council vote on June 2.

The application sought approval for a masterplanned urban village on the existing Benowa Gardens Shopping Centre site, combining new housing, retail, dining, health and lifestyle amenities within a walkable, integrated precinct.&nbsp;

The proposed redevelopment includes around 413 apartments integrated above a revitalised mixed-use centre featuring a full-line supermarket of 4,000 sqm, 6,000 sqm of specialty retail and dining space across around 30 retailers, a 7,000 sqm health and wellness precinct, and roughly 9,630 sqm of office and medical suites.&nbsp;

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="fb36ae47-80bc-45f0-9914-31b0c7b6007d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C4%201121%20FI.jpg?VersionId=6mRKk2uU4r67TmTt39DKGUlvFRbTVqWa" />

The broader masterplan also includes very significant traffic and transport improvements, wide pedestrian walkways, upgraded pedestrian and cycle connections, and enhanced public areas designed to create a more connected and walkable community environment.&nbsp;

Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.

“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.

“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="32fd1fc3-d0e6-485f-ac57-9916c9bcb818" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C5%201121%20FI_2.jpg?VersionId=fz8qQKDBLQ7MyFRc856Zccfbh9nFwLOe" />

“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible.

“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.

“This proposal is about creating a genuine live-work-play environment where residents can access everyday services, schools, healthcare, dining, shopping and green space within walking distance, while also supporting local jobs and economic activity.”

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="50dfbd04-590e-4fc6-983b-766880947867" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Dining%20Day%20Time%20-%20High%20Resolution.jpg?VersionId=BP7ZoKJ0DdL_8iRkkC8VVx99moICV6kg" />

Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;

Melissa Griffin, Director at Urbis, said the recommendation recognised the strategic importance of delivering more housing and services within established urban areas already supported by infrastructure.

“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.

“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.

“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”

$1 billion Benowa Gardens Urban Village heads to council vote following Planning Committee support

Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.

John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">63–79 Garfield Terrace</a>, just five months after its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-billionaire-winx-breeder-s-bold-two-tower-surfers-paradise-play-with-45th-storey-skybridge">submission in late 2025</a>.

The approved scheme will deliver two towers rising 55 and 48 storeys, connected by a skybridge positioned on level 45 that will house a range of resident-only wellness and entertainment spaces.

In its notice of approval, the Gold Coast City Council said the&nbsp;proposed overall built form has been designed to complement the scale, intensity and protect the adjacent amenity and surrounding streets through the use of varied setbacks, site cover and architectural elements.

<img alt="First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-30%20at%209.53.48%E2%80%AFAM.png?VersionId=ADyPJ_TFbJvSU9wZFOiCBnlPtgF7VWqW" />

Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, the development will comprise 275 apartments across the two towers, including a mix of two-, three-, and four-bedroom residences, as well as several penthouses. The apartments will sit above a landscaped podium featuring more than 90 metres of beachfront pool frontage, private resident lawns, lounges, and wellness spaces.

DBI said the design draws heavily from the movement and form of the coastal environment, with curving balcony lines and sculpted façades intended to soften the scale of the towers while maximising ocean outlooks and passive shading outcomes.

“The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience,” DBI said in planning documents submitted to the Gold Coast City Council.

The most distinctive element of the approved project is the skybridge linking the two towers at level 45. The elevated communal space is planned to include executive lounges, formal dining areas, wellness facilities, and panoramic ocean-facing outlooks.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI said.

At podium level, residents will have access to a suite of resort-style amenities, including resident lounges, private dining rooms, a yoga lawn, gymnasium, plunge pools, and treatment spaces. The beachfront pool has been designed with separate lap, lounge, and children’s areas extending across the width of the site.

The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.

Staff reporter

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