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A three bedroom Tumut house has been sold by mortgagees for $160,000.
The southeastern <a href="https://www.realestate.com.au/sold/property-house-nsw-tumut-124600810" target="_blank">New South Wales home </a>was sold by Ray White.
It had last sold at $160,000 in April 2017.
The 11 Kinred Street home came with three bedrooms, large size living area with wood heater &amp; wall air conditioner, and entertaining area plus single garage and carport. 
According to CoreLogic, the suburb's median house price is $260,000.
 
 
 
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j.ballantyne1990-6AQqhLzZaK

No price growth for Tumut, NSW home sold by mortgagee

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Estate agent company founder, John McGrath has told the McGrath Group board that he is well progressed in discussions with securing new proposed directors.
The outgoing directors have accordingly given written notice that their resignations will take effect from close of business February 19 four days following the release of the company’s interim results are announced on February 15.
It follows the announcement on January 22 of the intention of McGrath chair, Cass O’Connor and current non-executive directors Elizabeth Crouch and Cath Rogers to resign as directors.
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John McGrath well progressed in locking in new directors

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Conditions in the established housing market have cooled in recent months, the RBA has noted in its statement of monetary policy issued this morning.
Housing prices in Sydney have declined a little, conditions in Melbourne have eased following several years of strong price growth and conditions in most other capital cities remain subdued.
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In Perth, housing prices were flat in the last quarter of 2017. In Brisbane, apartment prices have been relatively stable, following earlier price falls, while detached house prices have increased slightly.
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Conditions in established housing markets continued to ease in the second half of 2017. 
"This was most evident in Sydney, where housing prices have declined and auction clearance rates are below their decade average (Graph 3.12).
 
Click here <a href="https://www.propertyobserver.com.au/images/2018/2/9/Graph_12.jpg" target="_blank">to enlarge.</a>
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"In Melbourne, housing price growth has declined and auction clearance rates have trended lower in recent months." 
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It suggested in Sydney and Melbourne, the decline in established housing price growth has been most pronounced for detached houses and for the most expensive properties; prices in both of these categories tend to have larger cycles than other market segments (Graph 3.13). 
The increased supply of housing and an apparent reduction in demand from foreign buyers for newly built properties are likely to be placing downward pressure on prices in Sydney, Melbourne and Brisbane though this is being offset to some extent by increased population growth, especially in Melbourne.
 The value of housing loan approvals has been broadly stable in aggregate since the end of 2016, though the composition has shifted towards owner-occupiers and away from investors, it noted.
 
Click here <a href="https://www.propertyobserver.com.au/images/2018/2/9/graph13.jpg" target="_blank">to enlarge.</a>
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Overall, growth in advertised rents picked up in the second half of 2017 due to increases in Sydney and Melbourne. 
Rents in Brisbane appear to have stabilised following earlier declines. Advertised rents in Perth have continued to decline, consistent with the ongoing high vacancy rate, but to a lesser extent than previously. 
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"If housing prices were to fall significantly, households might respond by curtailing their consumption expenditure and dwelling investment," it reported.
"Employment in the construction sector would also be weaker.
"Lower housing market activity would affect state government revenues, which may affect decisions about expenditure on activities such as infrastructure projects."
It noted however if, on the other hand, population growth were to pick up or the reported reduction in foreign demand for newly constructed properties turns out to be temporary, housing prices may be stronger than expected.
"In such a scenario, dwelling investment could increase, rather than broadly stabilise, or stay higher for longer than currently forecast.
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Household indebtedness is high and debt levels relative to income have edged higher because household credit growth has continued to outpace weak income growth.
"Steps taken by regulators to address the risks in household balance sheets have seen the growth in riskier types of lending to households moderate, but risks remain," it noted adding a highly indebted household sector is likely to be more sensitive to changes in income, wealth or interest rates. 
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Sydney prices have declined a little: RBA statement of monetary policy 

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Much of the traffic using Sydney’s Anzac Bridge and, in the distance, Harbour Bridge is travelling through the city centre, not to it or from it. 
People are debating the need for new roads and in particular the need to build <a href="https://www.westconnex.com.au/" target="_blank">WestConnex</a> in Sydney. These discussions are always about more or less cars, relief of congestion or not, and pollution. This article offers a new perspective: if WestConnex is built in full, most cars will no longer need to drive through (or alongside) the city centre.
This could open the way to new uses for current highway corridors. Much less traffic in the city centre would deliver a much better urban environment.
Most drivers along current routes to the city centre aren’t using these to actually reach the centre and stay there. WestConnex connects the destinations of many drivers through the city from the west, the northern beaches and south to the airport and beyond. Once traffic is diverted underground, these drivers will be able to bypass (or travel under) the city centre (see figure 1).
This is similar to the changes the <a href="https://www.linkt.com.au/sydney/using-sydney-toll-roads/cross-city-tunnel" target="_blank">Cross City Tunnel</a> delivered for the inner west and eastern suburbs, but on a much bigger scale.
<img src="https://images.theconversation.com/files/202059/original/file-20180116-53292-1msbxxm.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Figure 1: Westconnex and its northern and southern underground connections. Rob Roggema
<h2>Making the best of WestConnex</h2>
Hardly any Western country is building highways <a href="https://www.worldfinance.com/infrastructure-investment/project-finance/how-the-construction-of-elevated-highways-came-to-an-end" target="_blank">any more</a>. Many are tearing down the expressways that separate their city centres from the waterfronts, including <a href="http://www.massdot.state.ma.us/highway/TheBigDig.aspx">Boston’s Big Dig</a> project, San Francisco’s <a href="https://www.thestar.com/news/gta/2015/06/05/san-franciscos-waterfront-freeway-was-removed-25-years-ago-no-one-misses-it">Embarcadero removal</a>, and <a href="https://landscapeperformance.org/case-study-briefs/cheonggyecheon-stream-restoration" target="_blank">Cheonggyecheon</a> in Seoul.
It is <a href="https://theconversation.com/do-more-roads-really-mean-less-congestion-for-commuters-39508" target="_blank">questionable</a> whether WestConnex is the best solution for congestion problems. However, the project is well under way. What is more important now is to identify its potential benefits for other areas and ensure current decision-making locks these in.
When WestConnex and associated highway links are completed, these will effectively create a bypass two kilometres west of the CBD. This could remove much of the traffic now entering city centre.
Traffic flows southward to the airport will be diverted using the <a href="https://www.westconnex.com.au/projects/m4-m5-link" target="_blank">M4-M5 tunnel link</a>. The <a href="http://www.rms.nsw.gov.au/projects/sydney-north/western-harbour-tunnel-beaches-link/index" target="_blank">Western Harbour Tunnel and Beaches Link</a> will eventually connect the M4 to north Sydney. (Click on the blue links in the map below to see how these combine to replace existing routes, in red).
In the city centre itself, more than 90% of people walk to get around. Only <a href="https://www.transport.nsw.gov.au/sites/default/files/media/documents/2017/sydney-city-centre-access-strategy-final-web.pdf" target="_blank">2% of trips are by car</a>. Still, 25% of trips to the city centre (only 14% during peak hour) are by car, most of which probably require parking.
To sum up:
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Traffic on Anzac Bridge would be reduced significantly if cars heading to the north shore (using the traverse towards Harbour Bridge), the eastern suburbs (using the <a href="https://www.linkt.com.au/sydney/using-sydney-toll-roads/cross-city-tunnel" target="_blank">Cross City Tunnel</a>) and the airport (using the Eastern Distributor) were redirected.
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Drivers coming over the Harbour Bridge from the north, heading to the western suburbs, could be diverted from the Harbour Bridge-Anzac Bridge, <a href="https://en.wikipedia.org/wiki/Western_Distributor_(Sydney)" target="_blank">Western Distributor</a> route.
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Tolls would influence traffic flows, so a strategic approach should be taken to ensure the best outcome for the whole city, not just maximising toll revenues.
<h2>What parts of the city could benefit?</h2>
While WestConnex may be an outdated way of managing congestion, it can also be seen as an enormous window of opportunity to free up space in the heart of the city. Imagine what relief it could bring to parts of the city now under or along stretches of highway.
Possible benefits include:
1) It makes it possible to minimise the bundle of infrastructure in between Kirribilli, North Sydney and Neutral Bay.
The areas on both sides of the current highway could be reconnected in the longer term. North Sydney would connect to Neutral Bay across a reduced highway corridor. This would create a new north shore focus, accessible for residents, workers, students and visitors (figure 2).
<img src="https://images.theconversation.com/files/202048/original/file-20180116-53307-wi0ca4.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Figure 2: potential development space in North Sydney. Rob Roggema
This new larger centre would face Sydney city centre, across the harbour, like Brooklyn faces Manhattan. It could easily accommodate 11,500 new residents, 780,000m2 of commercial space and 78,000 jobs (6.5 times the size of <a href="http://www.barangaroo.com/" target="_blank">Barangaroo</a> at half its density).
2) It opens up the possibility of removing the Western Distributor, the elevated highways along the western edge of the CBD, which separates the city from the water.
In Pyrmont, bringing the Anzac Bridge off-ramp down to ground, and possibly linking to the Cross City Tunnel, could bring the city to the waterfront. Pyrmont could be reconnected to the old <a href="https://www.businessinsider.com.au/the-nsw-government-wants-to-move-the-sydney-fish-market-and-sell-the-old-site-off-for-apartments-2016-11" target="_blank">fishmarket</a> and <a href="http://www.cityofsydney.nsw.gov.au/explore/facilities/parks/major-parks/wentworth-park" target="_blank">Wentworth Park</a> (figure 3).
<img src="https://images.theconversation.com/files/202049/original/file-20180116-53292-1tvpphf.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Figure 3: potential development space in Pyrmont. Rob Roggema
It would be possible to remove the elevated highway separating Darling Harbour and the International Convention Centre from parkland and current car parks. The development potential of this large, north-facing area is huge – the space that could be freed up is three times Barangaroo’s present land area (figure 4).
<img src="https://images.theconversation.com/files/202050/original/file-20180116-53295-n0fmuz.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Figure 4: potential development space in Darling Harbour. Rob Roggema
It then becomes possible to reconnect old warehouses with each other and Tumbalong Park with the water to face Cockle Bay.
We could “complete” the renewal of the western edge of the city centre by connecting it with Circular Quay, and improve connectivity between Town Hall and George Street with the Darling Harbour waterfront (figure 5).
<img src="https://images.theconversation.com/files/202051/original/file-20180116-53324-1idp0zy.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Figure 5: potential development space in the Harbour Bridge corridor. Rob Roggema
Many heavily trafficked, fast-flowing one-way streets could become slow-moving two-way streets, as happened to Crown Street when the Eastern Distributor was completed.
Freeing up road space allows for the creation of more walkable and enjoyable public spaces. This would also increase the environmental and ecological quality of the urban environment, and reduce flash flooding. A greener city centre emerges that glues the eastern and western CBD together.
If traffic along the Harbour Bridge corridor is reduced, the Cahill Expressway could be repurposed or removed, realising the dream of generations of urban planners and designers (figure 6).
<img src="https://images.theconversation.com/files/202052/original/file-20180116-53324-tm4qtf.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Figure 6: potential development space in Circular Quay. Rob Roggema
This prime area facing Circular Quay could be redeveloped into a pedestrian-friendly boulevard, so people could easily cross from the CBD to the ferries. Circular Quay stop is the best possible way to arrive in Sydney, so the trains would remain, but the rail system should be redesigned as a lean piece of infrastructure, hardly noticed by people crossing underneath. The redevelopment space is mainly suited for retail and hospitality aimed at tourists.
3) It makes it possible to give the Harbour Bridge back to Sydneysiders.
With much less car traffic, some of the bridge’s eight lanes could be used for public transport (two lanes were added when tram services ceased in 1958), cycling and pedestrians, including a longitudinal park on top of the bridge.
In New York, Times Square was given back to residents of the city. Sydney Harbour Bridge, too, could become a place for people to linger and enjoy the views, rather than just drive across.
As a result of all this, the city centre, both north and south of Sydney Harbour, could be primarily devoted to pedestrians and cyclists. It would remain extremely well connected by public transport and accessible for vehicles delivering goods and people.
A frequent light rail service could connect the city centre to the northern beaches, just as you can travel by subway from Manhattan to Coney Island and by tram from the Melbourne CBD to St Kilda. It would run all the way from Manly, via North Sydney, Harbour Bridge and connecting to Wynyard Station (using the old tunnel).
<img src="https://counter.theconversation.com/content/90171/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Many oppose WestConnex, and for some good reasons, but what if it enabled central Sydney’s iconic spaces to be transformed for the better? The investments in WestConnex could be leveraged to create significant urban improvements in Pyrmont, connecting the western corridor of the city centre with Darling Harbour and Barangaroo, and reconnecting the great divide of North Sydney.
<a href="https://theconversation.com/profiles/rob-roggema-351369" target="_blank">Rob Roggema</a>, Professor of Sustainable Urban Environments, <a href="http://theconversation.com/institutions/university-of-technology-sydney-936" target="_blank">University of Technology Sydney</a> and <a href="https://theconversation.com/profiles/craig-allchin-440449">Craig Allchin</a>, Adjunct Professor of Architecture, <a href="http://theconversation.com/institutions/university-of-technology-sydney-936" target="_blank">University of Technology Sydney</a>
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/this-is-how-westconnex-can-deliver-sydney-a-better-city-centre-90171" target="_blank">original article</a>.
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How WestConnex can deliver a better city centre

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The biggest news of the week was the <a href="https://theconversation.com/three-reasons-not-to-worry-about-the-stock-market-crash-91338" target="_blank">gyrations in the US stockmarket</a>. And the proximate cause seemed to be what one might think of as good news – average hourly earnings for workers in the United States <a href="https://www.bls.gov/news.release/empsit.nr0.htm" target="_blank">rose 2.9%</a> for the year to January.
This led to fears of a spike in inflation – as it could lead to more aggressive interest rate rises by the US Federal Reserve – and a big sell-off on Wall Street.
Regular readers of this column will know that something that has preoccupied the central bankers of the world’s advanced economies has been persistently <a href="https://theconversation.com/vital-signs-economics-cant-explain-why-unemployment-and-inflation-are-both-low-85824" target="_blank">low inflation and wage rises</a>. This has been bad news for workers and has kept interest rates from rising.
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The 2.9% rise in US average hourly earnings is the strongest since the financial crisis. This, coupled with the <a href="https://www.bls.gov/news.release/empsit.nr0.htm" target="_blank">low 4.1% unemployment rate</a> in the US, has triggered inflationary fears. Of course, inflation was <a href="https://data.bls.gov/timeseries/CUUR0000SA0L1E?output_view=pct_12mths" target="_blank">below the Fed’s target of 2%</a>.
This all reveals a fundamental economic truth: it is expectations of the future, not the facts of the past, that drive economic behaviour. That is one reason that the Fed (and the Reserve Bank of Australia) talk a lot about “inflation expectations” – or what people think inflation is going to be – not what it has been.
In domestic news, it was no surprise that the RBA <a href="https://www.rba.gov.au/statistics/cash-rate/" target="_blank">left the cash rate unchanged at 1.50%</a> when the board met this Tuesday. <a href="https://www.rba.gov.au/media-releases/2018/mr-18-01" target="_blank">In his official statement</a>, RBA governor Philip Lowe emphasised Australia’s low inflation and unemployment rates, saying:
The low level of interest rates is continuing to support the Australian economy. Further progress in reducing unemployment and having inflation return to target is expected, although this progress is likely to be gradual.
There was some further positive news on the employment front from <a href="http://www.media.anz.com/phoenix.zhtml?c=248677&amp;p=irol-jobad&amp;nyo=0" target="_blank">ANZ’s job advertisements report</a>. It showed that ads were up 6.2% in January, and 13.8% on an annualised basis.
The big question, however, is about wages growth, which has proved very sluggish. We will have to wait until later in the month for new evidence on that in the form of fourth-quarter 2017 wages figures.
Cost of living figures <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/6467.0" target="_blank">released Wednesday by the ABS</a> showed what most people will tell you – that the cost of living has increased. The index is up by between 0.6% and 1.0% in the December quarter, depending on the type of household.
It is worth pausing briefly to discuss the difference between the Living Cost Index (LCI) and the Consumer Price Index (CPI). The ABS describes the purpose of the LCI as to answer the following question:
By how much would after-tax money incomes need to change to allow households to purchase the same quantity of consumer goods and services that they purchased in the base period?
This is slightly different from the CPI, which measures price changes in a basket of goods and services. Perhaps the key difference is that the LCI includes mortgage interest and treats housing costs differently. For a more detailed description of the differences <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Products/6467.0%7EDec+2017%7EExplanatory+Notes%7EExplanatory+Notes?OpenDocument#2718121728189953" target="_blank">see this description</a>.
And for no group of households did the LCI come in lower than the CPI (0.6% for the December quarter) and for most it came in higher. For example, on an annualised basis the LCI rose by 2.0% for “employee” households and by 2.3% for “pensioner and beneficiary” households. By contrast, the CPI grew 1.9% in the year to December.
Moving from the micro to the macro, <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/5368.0" target="_blank">ABS data</a> showed a trade deficit of A$1.358 billion in December, after a small surplus in November. This was largely driven by a strong increase in imports of fuel and machinery.
In the US, consumer credit for December <a href="https://tradingeconomics.com/united-states/consumer-credit" target="_blank">increased by US$18.45 billion</a>, below expectations of a US$20 billion increase. On the other hand, November figures were revised higher from US$27.95 billion to US$31.02 billion, making the overall picture pretty much a wash.
All of the data in Australia and abroad point to a tricky balancing act for policymakers. Interest rates almost surely have to rise in the medium term, but acting too quickly can squash a recovery; acting too slowly risks overheating the economy.
<img src="https://counter.theconversation.com/content/91224/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">And, as the US stockmarket fluctuations in the light of wages figures show, to get the balance right policymakers need to have an accurate forecast of people’s expectations about inflation and other variables. And that is challenging.
<a href="https://theconversation.com/profiles/richard-holden-118107" target="_blank">Richard Holden</a>, Professor of Economics and PLuS Alliance Fellow, <a href="http://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/vital-signs-future-expectations-causing-sharemarket-gyrations-and-interest-rate-doubts-91224" target="_blank">original article</a>.
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Future expectations causing sharemarket gyrations and interest rate doubts

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Set at Cannonvale, Queensland, a two storey home has been sold by mortgagees for $150,000.
It was sold by Ray White. 
The rental price of the townhouse in the Island Close complex was $220 a week in 2016.
<a href="https://www.realestate.com.au/sold/property-unit-qld-cannonvale-127017014" target="_blank">The Island Drive house</a> came with two bedrooms and a lock-up storage shed next to the carport.
The living area flows out to a patio which overlooks a large lawn area and in-ground swimming pool.
According to CoreLogic, the suburb's median unit price is $201,500.
 
 
 
 
 
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Cannonvale, Queensland sale by mortgagee

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The four bedroom home elevated on a rock ledge at Mount Melville, Western Australian has been listed for sale with $900,000 hopes.
It has been scheduled for February 10.
Albany Sky Home, at <a href="https://www.realestate.com.au/property-house-wa-mount+melville-127352010" target="_blank">60 Robinson Street</a>, is around 2 kilometres from Albany.
With design cues from the tropics, and a focus on solar-passive efficiency, the home was planned with adherence to the principals of Feng Shui.
The rooms are underneath a curved roof with a huge podium-like platform that supports the structure.
Steel, colourbond, timber and glass all add to the drama of this one-off residence, said the listing agent Rob Mason.
Built in 1998, it had last sold for $530,000 in 2005.
It comes with split system airconditioning in the main living area and a solar hot water system.
The suburb's median house price is $365,000 according to CoreLogic. 
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Mount Melville four bedroom sky home set for weekend auction

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<a href="http://www.afr.com/business/banking-and-finance/financial-services/westpac-invests-25m-more-in-uno-in-mortgage-broking-play-20180202-h0sehc"></a>Westpac Banking Corp has doubled its $25 million investment on the digital mortgage broker Uno Home Loans.
It has invested another $25 million for the start-up's brand marketing and sales teams which is currently sending two-thirds of its loans to the non-major banks.
Westpac now owns around 81% of Uno, which seeks a 10% share of the broking market over the next 10 years.
Westpac's head of strategy, Gary Thursby, said Uno presents a different way to create opportunities.
Uno, which was established two years ago, is recruiting a new CEO as the Uno founder Vincent Turner moves to a new role of chief innovation officer, leading product development.
Uno does not disclose loan volumes or customer numbers,
Uno has 22 lenders on its panel, including the four majors. 
Westpac loans do not get favourable treatment on the platform, Thursby told Fairfax Media.
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Westpac invests extra $25 million in digital mortgage broker Uno 

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McGrath Limited has responded to press speculation today in relation to a purported margin lending facility by John McGrath’s investment company, Fondorru Pty Limited, which holds shares in the listed estate agency. 
John McGrath confirmed to the board that there is no margin lending facility with respect to his shares in MEA.
"His shares in MEA are not and have never been used as security for any loan," the shareholders were advised. 
McGrath holds about 26 per cent of the shares in the listed company which has a market cap of $62 million.
The private company, Fondorru, established in 1990, reportedly controls more than half of his 26 per cent stake. The listed shares were trading at 44 cents today.
The company's securities trading policy prohibited margin lending on shares in McGrath by its directors and executives.
The issue arose as the real estate boss John McGrath described reports of a $16.2 million gambling debt as "ridiculous."
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On its late 2015 float, the McGrath Network comprised over 600 agents responsible for sales turnover of $11.6 billion in FY2015 from 11,000 sales. It managed 22,700 properties, which had a value of $16.6 billion. McGrath’s Oxygen Home Loans business had 31 mortgage brokers with loans under management of $2 billion, as at its 2015 float date. 
Its most recent advisory was $2.7 billion in loans under management, with 36 brokers, some 657 agents securing 12,800 sales with a $13.9 billion total, along with 24,700 properties under management. 
 
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No margin lending as John McGrath's McGrath Group shares have never been security for any loan

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Victoria has the most auctions among the capital cities this weekend, according to CoreLogic's weekend auction preview.
Melbourne's Point Cook is the busiest suburb with 12 auctions scheduled, while Sydney's Dee Why is second with 11 auctions set.
A four bedroom house at Point Cook has been listed for sale with over $600,000 hopes. 
The <a href="https://www.realestate.com.au/property-house-vic-point+cook-127257018" target="_blank">35 Martaban Crescent</a>  (pictured below) home has been scheduled for February 10.
It comes with four bedrooms, double remote garage and a north-facing rear garden.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/2/8/point%20cook%201.jpg" alt="">
Another auction is a three bedroom terrace in Point Cook, which also has been scheduled for February 10 auction.
Located at <a href="https://www.realestate.com.au/property-house-vic-point+cook-127306386" target="_blank">42 Middleton Drive </a> (pictured below), this house has uninterrupted views of the parkland.
It has three bedrooms, an open plan kitchen and a remote control double car garage.
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The combined capital cities are set to see a notable increase in activity over the week, with 1,371 properties scheduled to go to auction, this is an increase of 74 per cent on last week when only 790 auctions were held coming out of the holiday period slowdown.
When compared to last year, volumes are expected to be lower this week than the 1,591 auctions held over the corresponding week last year.
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The number of scheduled auctions across Sydney is set to be lower than results from one year ago (640), with 481 auctions scheduled to take place this week which is over double the volume of auctions held last week (216). 
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The numbers are still low for Sydney however, who have nearly 21 percent more listings now than they had this time last year.
The harbour capital is at least heading in the right direction to shift some of its 2017 unsold stock.
 
 
 
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Across Melbourne, Australia’s other major market, the number of properties scheduled to go to auction this week increased to 575, up from last week’s 292, and only slightly lower than final figures one year ago (556).
 
Across the smaller markets, the number of scheduled auctions has increased over the week in Brisbane, Canberra, Perth and Tasmania, while volumes in Adelaide have decreased over the week. 
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Last week, the combined capital cities returned a final auction clearance rate of 62 per cent across 790 auctions, with both clearance rate and volumes recording lower than last year when 68.8 per cent of the 881 auctions cleared.
The two strongest auction markets in terms of clearance rate last week were Melbourne and Adelaide, with both cities recording a 70.2 per cent rate of clearance. Followed by Canberra (62.2 per cent) and Sydney (57.1 per cent), while Brisbane, Perth and Tasmania all recorded clearance rates at or below 50 per cent.
It is expected that auction volumes will returned to normal levels in the coming weeks and a true reading of auction market conditions can be established.
Outside of the capital city markets, Geelong returned a final clearance rate of 88.9 per cent across 20 auctions. While the Gold Coast recorded the highest volume of auctions with 96 held, however only 46.9 per cent were successful. 
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Point Cook ranks as busiest weekend auction suburb

<a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> has commenced construction on its latest Gold Coast apartment development, Maris, on the site of the former Sundale Motel in Southport.

The start of construction by <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a> follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since launch. Every purchaser has been local, an&nbsp;indicator of confidence in both the development and Southport's evolution into a thriving CBD.

<a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a> will deliver 192 residences across 20 levels. The project forms part of MRCB's Australian and New Zealand development pipeline now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.

[smartcode_project:default project_id=134403 project_image_fid=350663]

The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70 per cent of residences sold.

Maris has been designed to meet evolving buyer demand, offering architecturally designed layouts suited to long-term liveability. The approach reflects a growing preference for quality and adaptability among Gold Coast buyers.

Positioned next to the Broadwater in the <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> CBD, Maris sits directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.

[smartcode_project:default project_id=134403 project_image_fid=372756]

Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.

Binah, a New South Wales headquartered company co-founded by Amen Zoabi and Khalil Hafza in 2008, has expressed its excitement at establishing its first partnership with MRCB.

Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.

"MRCB's financial strength and a track record that speaks for itself give this project a solid foundation, and this marks the beginning of what will be a long and successful relationship.

"With the right people, systems and partnerships behind it, Maris is set to become a significant addition to the Gold Coast's premium residential market."

[smartcode_project:default project_id=134403 project_image_fid=350664]

MRCB International CEO Ravi Krishnan said the project's progression to construction reflects both sustained demand and tightening conditions across the apartment sector, as well as MRCB's continued confidence in the Gold Coast market.

"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.

"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."

[smartcode_project:default project_id=134403 project_image_fid=372761]

Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.

"We're seeing a clear shift back towards well-located urban centres where infrastructure, connectivity and amenity are already established," said Mr Krishnan. "Southport is evolving into a more mature CBD environment, and that is being reflected in buyer behaviour."

Construction at Maris is anticipated to be completed in 2029.

[smartcode_project_cta:default project_id=134403]

Joel Robinson

Construction commences on MRCB’s $200m Maris Residences in Southport

Moonee Valley Park’s latest residential release <a href="https://www.apartments.com.au/new-apartments/the-eveline-at-moonee-valley-park-moonee-ponds-100-thomas-street-moonee-ponds-vic-3039">The Eveline</a>, has achieved a new benchmark for off-the-plan apartment sales in the suburb, with the sale of The Alexandra penthouse selling for $5,435,000.

Positioned on the top floor of a 16-level residential building, the three-bedroom, three and-a-half-bathroom penthouse features uninterrupted city skyline views across the future Valley racetrack.&nbsp;

The landmark sale comes as momentum at the precinct continues to build, with the Moonee Valley Racing Club progressing works on its new racetrack ahead of the 2027 Cox Plate. The transformative development will see MVRC reimagine the beloved Valley as a vibrant year-round entertainment and lifestyle destination.

Alongside a world-class racing experience, the historic precinct will be activated with events, hospitality and public green spaces designed to attract broader audiences, while breathing new life into one of Melbourne’s most iconic destinations.&nbsp;

[smartcode_project:default project_id=142519 project_image_fid=372786]

Development partners <a href="https://www.apartments.com.au/developers/hamton">Hamton Property Group</a> and Hostplus have delivered five residential stages over the past four years, the most recent in November 2025 with Trackside House and Stonepine House. The flourishing community is now home to almost 500 families.&nbsp;

The latest residential release, The Eveline, has recorded strong demand since launching publicly last July, securing more than $200 million in sales to date, satisfying its pre sales hurdle for construction to commence.&nbsp;

Hamton Founder and Executive Chairman, Paul Hameister OAM said, the sales&nbsp;team have been overwhelmed by demand for these unique homes in this unique project.

"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.

[smartcode_project:default project_id=142519 project_image_fid=372788]

Hamton’s Sales and Marketing Director Fergus Humphries said the team has achieved more than 70 sales over the past eight weeks, including the penthouse purchase by a local buyer.

"These results reinforce that, even in a challenging market, purchasers continue to be drawn to quality projects that offer more than just a home, they offer a lifestyle.”

Designed by Cera Stribley, the penthouse has been created with entertaining in mind, spanning close to 400 sqm of indoor and outdoor living space, including multiple terraces designed to capture sweeping views across Melbourne’s skyline, the new Valley racecourse and sunset views over Moonee Ponds.

Moonee Valley Park is one of Melbourne’s largest urban renewal projects, transforming the iconic racecourse site into a vibrant mixed-use neighbourhood integrating homes, parklands, retail, racing and community amenities.

[smartcode_project_cta:default project_id=142519]

Moonee Valley Park penthouse sets suburb record as sales surge clears construction benchmark

A company linked to one of Australia's largest privately owned cattle businesses has lodged plans for a new residential tower in <a href="https://www.apartments.com.au/developments/newstead-qld-4006">Newstead</a>, continuing the rapid transformation of one of Brisbane's most sought-after, inner-city precincts.

Bottletree Holdings, an entity associated with Stanbroke Managing Director Brendan Menegazzo, has submitted a development application for a 28-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/9-longland-street-newstead-qld-4006">9 Longland Street</a>, a site that made headlines last year when it changed hands in an off-market transaction that reportedly set a benchmark land rate for the suburb.

The proposal would replace an existing two-storey commercial building on the 1,510 sqm corner site with a Bureau Proberts-designed tower comprising 76 apartments, ground-floor retail, office space and a suite of resident wellness amenities.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="c710a836-568e-4382-bc91-3c34b8e80a8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.41.45%E2%80%AFAM.png?VersionId=Vy.mQWBc7GA_a.vIBdxKqRC9XGjWalo2" />

According to planning documents lodged with Brisbane City Council, the development would comprise a mix of 36 two-bedroom apartments, 24 three-bedroom apartments and 16 four-bedroom residences, positioning the project firmly at the premium end of the market. The apartments would sit above a podium containing retail and commercial space, with three levels of communal recreation facilities spread throughout the tower. The proposal also includes 198 car spaces and 95 bicycle spaces.

Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.

"Occupying a prominent corner in the heart of Newstead, the proposal draws from the area's industrial lineage of robust brick warehouses to deliver a distinctly contemporary response," the architects said in the design statement.

"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."

The design seeks to reinterpret the traditional Queensland vernacular through wraparound verandahs, deep shading elements and permeable facades that respond to Brisbane's subtropical climate.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="25524f59-395c-4825-8fad-9b639822fa8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.09%E2%80%AFAM.png?VersionId=dlWlbpCc_g3Y6yTLGqRVKvGJvO2ubMJ3" />

Planning documents describe the building as embodying the principles of "buildings that breathe", a design approach increasingly favoured in Brisbane's apartment market as developers focus on natural ventilation and outdoor living spaces.

The tower itself would rise above a heavily landscaped podium designed to reference the woolstore architecture that helped define Newstead and neighbouring Teneriffe for generations. At ground level, fine-grain retail tenancies would activate Longland Street, Wyandra Street and the existing Wyatt Street laneway, further extending the pedestrian network that has become a hallmark of the Gasworks precinct.

The application notes that more than 54 per cent of the site would be dedicated to landscaping and deep planting, while approximately 1,750 sqm of communal recreation space would be delivered across multiple levels.

<img alt="Planning" data-entity-type="file" data-entity-uuid="fed3b189-1054-4b68-af5f-b0befc4a66e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.19%E2%80%AFAM.png?VersionId=gqeE3cjsbnLAfeTUKA1HtPZfqDs6S4Xa" />

Bottletree paid $22 million for the 1,510 sqm development site, equating to more than $14,500 per sqm, a reflection of the strong demand for development opportunities in Newstead. The suburb continues to attract both developers and buyers, underpinned by the ongoing evolution of the Gasworks and Teneriffe precincts into some of Brisbane's most sought-after lifestyle destinations.

Brisbane City Council's Sustainable Growth Strategy and Inner City Strategy both identify Newstead as a priority growth precinct capable of accommodating additional housing density due to its proximity to employment hubs, public transport and lifestyle infrastructure.

The proposed tower joins a growing pipeline of high-end apartment developments in the suburb. Fortis recently launched <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a>, a 65-apartment owner-occupier-focused development on Kyabra Street, while Consolidated Properties Group is preparing to launch <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a 227-apartment waterfront project on Skyring Terrace.

Meanwhile, builder-developer BPG is planning its own Newstead project on Maud Street, comprising just over 100 apartments and more than 1,380 sqm of dedicated wellness and resident amenity spaces, further highlighting the shift towards lifestyle-driven apartment developments in Brisbane's inner-city market.

Newstead apartment boom continues with Longland Street tower plans

ALAND has taken the next major step in delivering its vision for Leppington Town Centre, lodging State Significant Development plans for a $549 million residential precinct that would bring more than 1,200 new homes within walking distance of Leppington Station.

The proposal, now on public exhibition, forms the Residential Core Precinct of the broader Leppington Town Centre masterplan and would transform a 4.3-hectare site at <a href="https://www.apartments.com.au/new-apartments/156-166-rickard-road-leppington-nsw-2179">156-166 Rickard Road</a> into a high-density mixed-use neighbourhood comprising nine residential buildings rising between six and 25 storeys.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="fc20982d-a0a9-4989-8fb3-680ca9fdcd10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.44%E2%80%AFAM.png?VersionId=l5EEyS6Dkf_SLDQkwDeyAU2nXkSZP2RW" />

The development has been designed by Rothelowman and is being pursued through a State Significant Development Application alongside a concurrent rezoning request under the NSW Government's Housing Delivery Authority pathway.

If approved, the project would deliver 1,206 dwellings, including 784 build-to-sell apartments, 208 build-to-rent apartments, 189 affordable housing units and a nine-storey serviced apartment building containing 112 rooms. The proposal also includes around 7,400 sqm of non-residential floor space, new public open space, communal recreation areas and a new internal street network.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="c4f80d3b-cb05-4068-8a87-808317807a99" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.36%E2%80%AFAM.png?VersionId=KfPqh1JBuxc53IWntEzGHAeBaCLmRmum" />

<h2 data-end="1990" data-section-id="s6350" data-start="1941">A key piece of Leppington's future town centre</h2>

The site sits around 250 metres from Leppington Station, which opened in 2015 as the terminus of the South West Rail Link and has long been earmarked as the catalyst for the suburb's transformation from a rural fringe location into a major strategic centre for Western Sydney.

Leppington has become increasingly important following the announcement of the Western Sydney International Airport and the emergence of Bradfield City Centre, with government planning identifying the precinct as a significant location for future housing and employment growth.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="8ca0f098-affc-48c0-80d3-468ea090a20c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.26%E2%80%AFAM.png?VersionId=o3mwgBFT6H9YUllI0JR.JfLsUYQy1CTa" />

According to Rothelowman, the proposal responds directly to Leppington's unique position between its agricultural past and its urban future.

"The site offers an opportunity to weave together multiple layers of history, from its ancient connections to Country along the ridgeline between two waterways and its origins as part of the Cumberland woodland, to its more recent agricultural uses, and its future as a new residential community," the architects said in the design report.

The architects said the project aims to establish a high-density residential typology that combines apartment living with extensive landscaping and public open space.

"The design responds by establishing a high-density typology that combines the convenience and amenity of contemporary apartment living with a renewed native landscape."

<h2 data-end="3541" data-section-id="1ko88s2" data-start="3485">Nine buildings arranged around parks and public space</h2>

The proposal has been designed around a landscape-led framework rather than a traditional podium-and-tower approach.

Across the site, approximately 7,500 sqm of public open space would be delivered through a network of north-south and east-west linear parks, connecting into the wider Leppington Town Centre open space network. A further 8,000 sqm of communal open space would be provided for residents.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="f5113abf-5440-4610-9cdc-60a0d41a407e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.55%E2%80%AFAM.png?VersionId=k8zLMj4yZS4hStmGzZJfosjj5iArwIek" />

Rothelowman said the design seeks to maximise landscaping at ground level by concentrating development into compact tower footprints.

"Buildings are carefully lifted and distributed to minimise disturbance to the natural terrain, allowing the ground plane to remain open, permeable, and led by landscape," the design report states.

Rather than creating a continuous podium edge, the design team has focused on allowing landscaping to extend beneath and around the buildings.

"The ground plane is conceived as an extension of the surrounding environment, allowing landscape to flow up to and beneath the built forms."

The architectural language also draws on the area's natural landscape, with Rothelowman describing a material palette influenced by local gum trees, bark textures, creek systems and sandstone tones.

<h2 data-end="4971" data-section-id="s69utu" data-start="4922">Affordable housing and build-to-rent component</h2>

One of the more significant aspects of the proposal is the diversity of housing typologies.

In addition to traditional apartments for sale, the scheme includes a dedicated 25-storey build-to-rent building with 208 apartments and a 22-storey affordable housing building containing 189 homes.

The affordable housing component represents almost 16 per cent of the total dwellings proposed within the Residential Core Precinct.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="f87e6808-e462-44c6-bfa8-a3de1816f2e3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.33.36%E2%80%AFAM.png?VersionId=WTsRKiUAyWw18S5S98yQB5oVuDcnJTxB" />

Community consultation undertaken ahead of the lodgement found support for additional housing in the area, particularly given ongoing affordability challenges across South West Sydney. Survey work conducted with local residents found housing affordability was one of the poorest-rated aspects of living in Leppington, while a majority of respondents were open to additional housing within the local government area.

The site's proximity to Leppington Station was identified as the most positively viewed aspect of the proposal, while public open space and affordable housing provisions also received majority support.

<h2 data-end="6184" data-section-id="1ngkie4" data-start="6140">Part of Leppington's broader expansion</h2>

ALAND will be a significant contributor to the broader vision for Leppington Town Centre, which is expected to accommodate more than 25,000 residents as the precinct evolves over the coming decades.

Located within Sydney's South West Growth Area, the 440-hectare Leppington Town Centre has been identified by the NSW Government as a strategic centre spanning both the Liverpool and Camden local government areas.

In 2023, Liverpool City Council and Camden Council, supported by the NSW Department of Planning and Environment, prepared a draft planning proposal to rezone land and amend development controls across a number of sites within the town centre.

The proposal outlines a new vision for Leppington Town Centre, reducing the amount of land allocated for business park uses while increasing land zoned for commercial development, housing and open space. The changes are designed to optimise land use across the precinct and support the delivery of a more walkable, transit-oriented centre anchored by Leppington Station.

&nbsp;

ALAND plots 1,200-home Leppington masterplan

Brisbane-based developer <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a>&nbsp;has enlisted renowned architecture firm Koichi Takada Architects to design its latest new apartment development.

The new 34-storey tower at <a href="https://www.apartments.com.au/new-apartments/57-berwick-street-fortitude-valley-qld-4006">57 Berwick Street, Fortitude Valley</a>,&nbsp;will have 189 apartments, complete with interiors by <a href="https://www.apartments.com.au/architects/byculprit">byCULPRIT</a>. The upper levels&nbsp;capturing views across the Story Bridge, city skyline, ranges, bay and river.

Residents will have access to a rooftop amenity floor with facilities including a pool, spa, sauna, hot and cold treatment, meditation garden, gym, yoga studio, private dining, BBQ, games lounge, wine display wall, work library, meeting rooms and outdoor work areas.

<a href="https://www.apartments.com.au/developers/trk-property-group">TRK</a> Founder and Managing Director, Arpan Kohli, said it will be a project "Brisbane hasn't seen before."

&nbsp;

"To deliver a project of this calibre, you need the right people involved," Kohli said.

"Koichi Takada Architects and byCULPRIT set the benchmarks for design excellence, and this project reflects that - a building of genuine architectural significance in one of Brisbane's most coveted locations, sitting between Howard Smith Wharves and the James Street precinct."

TRK recently launched <a href="https://www.apartments.com.au/new-townhouses/laya-residences-taigum-203-beams-road-taigum-qld-4018">LAYA Residences in Taigum</a>, 88 three-bedroom townhouses starting from $1,495,000. They have another apartment site in Indooroopilly, at <a href="https://www.apartments.com.au/new-apartments/140-central-avenue-indooroopilly-qld-4068">140 Central Avenue</a>. That will have 131 apartments.&nbsp;

&nbsp;

Staff reporter

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