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Darwin takes the longest time to sell a property, according to CoreLogic’s latest report.
The property data firm says that the average time it takes to sell a house in Darwin is 107 days.
This is in contrast with Sydney which takes only 29 days to sell a house.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%2012.40.07%20pm.jpg" target="_blank">Click to enlarge</a>
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Similarly units in Darwin takes 111 days to sell compared to 26 days for Sydney units.
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j.ballantyne1990-6AQqhLzZaK

Properties in Darwin takes the most time to sell: CoreLogic

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The number of listings in Melbourne is down compared to 12 months ago, according to CoreLogic’s latest report.
The property data firm says that the number of total listings is 28,486, which is a decline of 5.1% on last February.
This is not helped by the number of new listings declining by 2.5% compared to the same period last year.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%2012.39.49%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/27/Screen%20Shot%202017-02-27%20at%2012.39.49%20pm.jpg" alt="">
Sydney is down considerably, in both fresh and total offerings.
Going against the national trend is the number of Brisbane listings, which has increased by 6.6% over the past 12 months as well as its new listings increasing by 0.7%.
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Number of Melbourne listings declines by 5%: CoreLogic

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The Outer East region of Melbourne has the highest number of weekend auctions success, according to CoreLogic’s latest report.
The property data firm says that out of the 77 auctions known to CoreLogic in the region 87% were cleared.
This is followed by the West region with 86.2% and the North East with 84.6%.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%2011.31.18%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/27/Screen%20Shot%202017-02-27%20at%2011.31.18%20am.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-ashwood-124527206" target="_blank">14 Ashwood Drive</a>, Ashwood (above) was sold for $1,305,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-knoxfield-124631322" target="_blank">17 Horner Close</a>, Knoxfield (below) was sold for $795,000.
<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/2017/02/27/17%20Horner%20Close.jpg" alt="">
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Melbourne's Outer East takes top spot with highest cleared auction rate: CoreLogic

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The Inner West region of Sydney takes the top spot with the highest auction success rate, according to CoreLogic’s latest report.
The property data firm says that out of the 61 auctions known to CoreLogic 90.2% were sold.
This is followed by Ryde with 88.2% and the Eastern Suburbs with 87.2%.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%2011.31.09%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/27/Screen%20Shot%202017-02-27%20at%2011.31.09%20am.jpg" alt="">
A five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-cabarita-124624642" target="_blank">111 Cabarita Road</a>, Cabarita (above) was sold for $3,300,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-balmain-124601978" target="_blank">20 North Street</a>, Balmain (below) was sold for $3,020,000.
<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/2017/02/27/20%20North%20Street.jpg" alt="">
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Sydney's Inner West weekend auction clearance rate tops 90%: CoreLogic

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Australia is likely to continue to attract international retail brand entrants in 2017, according to CBRE’s latest report.
Australia’s favourable macroeconomic conditions (relatively strong growth in population and consumption compared to other developed economies) and low international brand penetration (28%) to date enhance the case for entry into Australia.
<a href="https://www.propertyobserver.com.au/images/2017/02/16/Figure%2011.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/16/Figure%2011.jpg" alt="">
Many international retailers are entering the market and taking market share from incumbent businesses that are grappling with the lower sales growth environment and thinner profit margins.
The low penetration rate of international brands appears to have enabled high turnover per store for some new entrants.
H&amp;M’s Sydney and Melbourne stores were among the group’s best global traders with its Australian sales (per store) achieving top three results in its global platform in 2015 and 2016 and twice as productive as its average store sales globally (according to its annual results).
But new international brands entering the market and recently arrived international brads expanding will, at some point, likely cause cannibalisation of incumbent store sales and also lower sales growth for new entrants, the report says.
In some overseas markets new entrants went through a period of consolidation because initial brand rollout plans were too aggressive.
Australia would not be impervious to this scenario if brand rollouts prove overly ambitious, but we suspect that previous experiences should lend some caution to new entrants.
According to CBRE’s retail brand database (tracking about 450 international retailers globally), more than 90 existing international retailers are looking to roll out stores across Australia over the next five years, and another 50 plus brands are looking at launching their first flagship store.
“Luxury retailers were the largest group (by number) to enter Australia in 2016 and we expect this trend to continue for a further two to three years before slowing down as they reach their store targets,” the report stated.
Mid-range fashion and specialist clothing brands are expected to increasingly contribute to brand entry over the next five years.
These types of retailers have a broader target market than luxury brands, who tend to focus on CBD or super prime regional centre locations.
“We are expecting to see the second phase of fast fashion retailers expanding into suburban and regional locations,” the report says.
H&amp;M, for example, has opened numerous stores in suburban locations (typically regional shopping centres) as well as targeting major regional cities.
“We expect other fast fashion brands will follow suit over the coming years, absorbing space that may be vacated by discount department stores and other retail incumbents,” the report warned.
“We expect that over the next five years up to 1.2 million sqm or 7% of current retail stock will be sought by international retailers.
“If this occurs the level of demand is expected to almost absorb the supply pipeline (CBD and shopping centres) over the next five years, reducing the risk of oversupply.”
The upside risk is additional demand from domestic retailers, although that is not a given as the domestic retail industry has experienced profit margin pressure over the past few years.
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International brands to continue coming and setting up shop: CBRE

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<div>A two bedroom apartment at Mernda, which has been a $310 a week rental in the City of Whittlesea suburb, fetched $245,000.</div>
<div> </div>
<div>Offered through Ray White, the <a href="https://www.realestate.com.au/property-apartment-vic-mernda-124510094" target="_blank">Rowell Drive unit</a> fetched less than its $295,000 off the plan price.</div>
<div> </div>
<div>The auction price guidance had been $240,000 to $260,000 for the 70 sqm ground floor apartment that was completed in 2012.  </div>
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OTP resale loss in cheapest $245,000 weekend auction result

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The building approvals in the current cycle began to rise from mid-2012, according to HIA’s latest report.
It took until late 2015 for the cycle to peak and approvals have subsequently maintained very high levels from a historical perspective.
Australia’s latest new home construction cycle, for which building approvals formed a very accurate lead indicator, is the longest and largest in the nation’s history.
This has produced very healthy outcomes for the broader Australian economy.
The December 2016 numbers for ABS Building Approvals (the latest available data) confirm that we have passed the peak for this cycle.
However, actual residential construction activity will remain healthy throughout 2016/17 and into 2017/18 due to the continuing gap between building approvals and new dwelling commencements (starts).
In monthly terms building approvals peaked in October 2015 at a level of 21,546.
The annual peak for building approvals was a staggering 241,561 over the 12 months to November 2015.
In calendar year 2016 building approvals reached a level of 230,813 compared to 240,009 in 2015.
A gradual decline in building approvals in the early stages of the down cycle provides an important signal for the Australian economy.
This trend is consistent with continued healthy levels of new dwelling commencements and residential work being done in 2016/17 and into next year.
This situation in turn provides positive impacts on economic growth and employment.
For example, construction absorbs 9 per cent of the workforce and is the third largest employer, after health (12.8 per cent) and retail (10.5 per cent) in the Australian economy.
Record levels of residential construction and related jobs have in recent years offset job losses in other sectors.
<a href="https://www.propertyobserver.com.au/images/2017/02/21/HIA-1.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/21/HIA-1.jpg" alt="">
There was considerable variation in the evolution of dwelling approvals among the states in 2016 compared to 2015.
This is not a surprising finding – this building cycle has been marked by larger than normal divergenes in housing conditions around Australia given that the up-cycle began before Australia’s largest ever resources investment boom had peaked.
In original (i.e. not seasonally adjusted) terms three out of eight states recorded increases in total building approvals in calendar year 2016.
The strongest increase occurred in the Australian Capital Territory (+44.6 per cent), followed by South Australia (+3.8 per cent) and New South Wales (+1.2 per cent).
Total building approvals declined in Western Australia and the Northern Territory (-23.4 per cent in each instance), Tasmania (-23.0 per cent), Queensland (-5.9 per cent), and Victoria (-1.3 per cent).
Comparing the December 2016 quarter to the December 2015 quarter, there was a decline in approvals nationwide of 14.2 per cent (in unadjusted terms, see chart below).
<a href="https://www.propertyobserver.com.au/images/2017/02/21/HIA-2.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/21/HIA-2.jpg" alt="">
Different jurisdictions played varying roles in this overall result.
The main drivers of this annual change in the December 2016 quarter were New South Wales (-6.4 percentage points) and Queensland (-4.9 percentage points).
Contractions were also evident for: Western Australia (-1.5 percentage points); and Victoria and South Australia (-0.9 percentage points in each instance).
Tasmania had a minor - 0.1 percentage point result.
In terms of the number of building approvals, the decline in NSW (-3,884) acted as a large drag on the national outcome (-8,560).
The following analysis provides greater detail on developments in approvals for different dwelling types.
This breakdown of building approvals – separating out semi-detached style product from medium/high density (MHD) units, for example provides important ‘colour’ to the building approvals landscape and is often forgotten in generalised commentary regarding detached houses ‘versus multi-units’.
Let’s start from the top with the aggregate profiles to provide the necessary background.
The chart below shows monthly changes in seasonally adjusted approvals.
There were 51,173 total seasonally adjusted building approvals in the December 2016 quarter, a level 15.2 per cent lower than approvals in the September quarter.
As previously noted, building approvals were 3.8 per cent lower in 2016 than in 2015.
Seasonally adjusted building approvals for detached houses totalled 28,275 in the December 2016 quarter, a level 2.2 per cent lower than in the September quarter of 2016.
Total approvals for ‘other dwellings’ – usually referred to as ‘multi-units’ numbered 22,900 in the December 2016 quarter.
That level was 26.9 per cent lower than the approvals in the September quarter of 2016. In the 12 months to December 2016 approvals were 5.5 per cent lower than in 2015.
The overall profile for detached house approvals in 2016 suggests this segment of the new home building market remains in relatively healthy shape in early 2017.
<a href="https://www.propertyobserver.com.au/images/2017/02/21/HIA-3.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/21/HIA-3.jpg" alt="">
Drilling down from this aggregate profile we consider five categories of residential building approvals.
Comparing the December 2016 quarter to the same period in 2015, all of the five categories of dwellings recorded a decline in approvals: detached houses (-5.8 per cent); semi-detached, row, terrace or townhouse homes (-10.1 per cent); flats or units in 1 or 2 storey buildings (-21.9 per cent); flats or units in 3 storey buildings (-25.8 per cent); and flats or units in 4 or more storey buildings (-27.4 per cent).
All the categories combined recorded a national decline of 14.2 per cent.
In terms of last calendar year, all categories except semi-detached, row or terrace dwellings posted a negative change.
Building approvals in the ‘semi-detached’ category increased by 3.8 per cent in 2016.
The remaining categories posted declines in 2016 of: detached houses (-1.9 per cent); flats or units in 1 or 2 storey buildings (-27.1 per cent); flats or units in 3 storey buildings (-7.7 per cent); and flats or units in 4 or more storey buildings (-7.5 per cent).
The chart below shows how approvals for each of the different dwelling types have been contributing or detracting from total growth in the number of building approvals in a quarter over the same quarter a year ago.
Clearly, up to the December 2016 quarter, approvals for all categories have driven declines in aggregate approvals, but to a widely varying extent.
<a href="https://www.propertyobserver.com.au/images/2017/02/21/HIA-4.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/21/HIA-4.jpg" alt="">
Detached house approvals
<ul>
<li>51.2 per cent of total building approvals in 2016 compared with the decade average of 60.9 per cent;</li>
<li>A significant 5.8 per cent decline during the three months to December 2016 to reach a (non- seasonally adjusted) level of 27,610. This level is 13.8 per cent lower than in the December 2015 quarter;</li>
<li>Average monthly approvals of 9,735 dwellings over 2016 in unadjusted terms;</li>
<li>Eastern seaboard states the primary geographical drivers of growth in 2016.</li>
</ul>
Semi-detached and townhouse approvals
<ul>
<li>14.6 per cent of total building approvals in 2016 compared with the decade average of 13.5 per cent;</li>
<li>Average monthly approvals of 2,781 dwellings over 2016, in unadjusted terms;</li>
<li>Strong 3.8 per cent growth in 2016, driven by the eastern seaboard states;</li>
<li>Queensland, the Australian Capital Territory, the Northern Territory and Victoria contributed to aggregate growth nationally;</li>
</ul>
Approvals for units in 1 or 2 storey buildings
<ul>
<li>1.4 per cent share in 2016, compared with the decade average of 2.9 per cent;</li>
<li>Average monthly approvals of 271 dwellings over 2016, in unadjusted terms. Growth driven by South Australia and the Australian Capital Territory, but declines elsewhere.</li>
</ul>
Approvals for units in 3 storey buildings
<ul>
<li>2.2 per cent share in 2016, compared with the decade average of 2.5 per cent;</li>
<li>Average monthly approvals of 426 dwellings over 2016, in unadjusted terms;</li>
<li>Decline of 7.7 per cent in 2016;</li>
<li>Annual decline a result of pull-backs in New South Wales and the Northern Territory. Growth in Victoria and South Australia was insufficient to offset the declines.</li>
</ul>
Approvals for units in 4+ storey buildings
<ul>
<li>30.5 per cent share in 2016 compared with ten year average of 20.1 per cent;</li>
<li>Average monthly approvals of 5,826 dwellings over 2016, in unadjusted terms;</li>
<li>Some slow-down in 2016, driven mainly by Victoria, Queensland and the Northern Territory. The Australian Capital Territory and New South Wales were the two star contributors to growth.</li>
</ul>
Australia’s new home-building boom looks set to taper off from 2017.
Building approvals for new housing have faded (moderately) in the past year, but they didn’t tank.
ABS building approvals figures show that the number of houses and ‘other dwellings’ approved in 2016 were lower than in 2015 by less than 4 per cent.
This outcome is not a precursor of any serious declines in new dwelling commencements in the first half of 2017.
The steady trend in detached house approvals suggests that actual activity will similarly remain reasonably healthy in the short term.
A slightly more positive short term outlook applies to semi-detached type approvals.
Overall, we retain our long held outlook for continued healthy levels of new home construction in 2016/17, and to a lesser extent in calendar year 2017:-
Detached house construction will remain healthy in the short term, but the volume of building will be lower than last year;
The semi-detached market has some further growth to it in the first half of 2017 – a tick in the box that shouldn’t be missed;
The pipeline of work in progress is substantial, particularly in terms of medium/high density dwellings.
HIA Economics will shortly be releasing their latest forecasts for dwelling commencements.
This release will include updates for the subscription products of: dwelling starts composition forecasts; regional building approvals forecasts; and long term forecasts.
For further information go <a href="https://hia.com.au/en/BusinessInfo/economicInfo/housingForecasts.aspx" target="_blank">here</a>.
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New home building approvals in longest and largest cycle in Australia's history

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The level of confidence is always the key to the rural property market in South West Victoria, according to Herron Todd White's latest report.
The property valuation firm says that in general terms the farming sector in south west Victoria apart from dairying commences the new year in positive terms coming off the back of a good last half of 2016.
"We predict continued strong investment in agriculture through 2017, with influencing factors including the following:
<ul>
<li>no indication of an easing of the record market prices for beef and prime lamb.</li>
<li>there is abundant feed in the paddocks and reserves of hay have been replenished.</li>
<li>interest rates to borrow from banks remain cheap.</li>
<li>limited stock of good property being put to the open market for sale.</li>
<li>for large scale grazing holdings domestic purchasers beating off foreign purchasers.</li>
<li>Government policy is favourable to the rural industry." the report listed.</li>
</ul>
The values for rural property are predicted to peak in late 2017.
With specific reference to the dairying sector, there is a small glimmer of hope in the wider dairying industry which should show the start of recovery with current levels unlikely to change through 2017.
The rural market has been stable over the previous few years in Gippsland, however there have been some recent sales in the Bass area.
This indicates that there may be an increased interest in the rural small holding market for properties in the ten hectare to 80 hectare range.
Western Gippsland has seen increased interest in rural small holding lots with the completion of the
Pakenham racecourse appearing to increase demand for horse blocks or grazing properties.
The forecast closure of metropolitan racecourses may also increase demand for these lots.
Overall the rural market in western and southern Gippsland region is seen as stable with the potential for price growth over the next 12 months.
Strong seasonal conditions undoubtedly drove demand through the tail end of 2016 in Echuca.
This is likely to drive demand into 2017 particularly in the cropping sector which achieved significantly above average yields across most district (notwithstanding below average pricing).
One of the quiet performers has also been most classes of water which continues to recover in price notwithstanding a falling allocation market.
This has seen general security water surge to $1,275 per megalitre (including allocation) according to some local agents.
Meanwhile Victorian Goulburn water seems to be hovering around the $2,600 to $2,750 per megalitre mark.
There is a $1.2 million asking price on <a href="https://www.realestate.com.au/property-lifestyle-vic-bass-7876186" target="_blank">an 118 acre Bass farm</a> through Elders Leongatha.
The farm, Janista is capable of carrying 60 to 70 breeding cows and calves or could make a fattening or horse property. The private three acre lake is complemented by an additional 4 mega litre pumping license from the Bass River.
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South west Victoria rural property market determined by confidence level: HTW

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The Hills of Carmel, a 2,000 lot sub-division spread across 223 hectares in Sydney’s North West, has had its buyer registration period brought forward by four months to meet demand for prompt settlement.
Registration is the formal process of lodging the individual lots with the land titles office, allowing the final settlement of property to take place.
As a result, more than 100 lots will be settled by the end of this month with home building not far behind.
The Hills of Carmel is a new land release located in the recently rezoned suburb of Box Hill, between Rouse Hill and McGraths Hill, close to major retail centres, national parkland, sporting facilities and idyllic Hawkesbury River fishing and boating.
Almost 300 housing lots have been sold to home buyers since the $1.3 billion Hills Shire site launched in May 2016, with a further 300-400 lots flagged for release later this year.
The earlier-than-expected registration process follows unseasonably high demand over the Christmas period, according to Hills of Carmel Property Development Consultant Bob Welsh.
“Land is getting snapped up fast; we are opening up new lots sooner than anticipated. Given the community will offer schools, shopping centres, proximity to new transport links and beautiful aspects, we knew going into this it would be popular, but perhaps even we underestimated the sheer scale of Sydney’s housing affordability crisis,” he said.
Mr Welsh said residents are expected to move into the first of the community’s homes by mid-2017.
Australia’s biggest and most established display home organisation, Homeworld, will also be joining the neighbourhood, with plans to construct a 108-lot display village on site.
“In line with the heavy consumer demand for affordable lots, as described by the Department of Planning, we will continue to make available both small detached dwelling lots and larger lots ranging in size from 300m2 to 870m2,” Mr Welsh said.
Jamie and Shirley Millar, currently of East Kurrajong, will be among the first residents to settle in coming weeks.
Mr Millar said this will be his family’s second build.
“We are really excited about the opportunity to build in The Hills of Carmel and to be a founding part of Sydney's newest suburb,” he said.
“We are relocating to downsize and be closer to modern facilities for our three children.
The semi-rural aspect, as well as the North West Rail Link are key factors in our decision to move here.”
The Department of Planning expects the new suburb of Box Hill to eventually comprise 9,600 dwellings and a population of more than 28,000 people.
The Hills of Carmel development will create thousands of new jobs and inject an estimated $700 Million into the local economy.
For more information on The Hills of Carmel, visit <a href="https://www.thehillsofcarmel.com.au/">www.TheHillsofCarmel.com.au</a>.
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First ‘Hills of Carmel’ homes on horizon as North West development demand hits fever pitch

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Across the combined capital cities this week, the number of properties taken to auction increased dramatically, with 3,232 auctions held, according to CoreLogic’s latest report.
The property data firm says that is significantly higher than what has been recorded over the same period across previous years, with auction volumes generally reaching their seasonal peaks around March.
The record highs for the number of auctions were confined to the Sydney and Melbourne markets, where auction numbers were the highest on record for the month of February.
<a href="https://www.propertyobserver.com.au/images/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.16.07%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.16.07%20am.jpg" alt="">
Despite auctions reaching record highs for February, the combined capital city preliminary clearance rate also reached a new record high over the year to date.
78.6 per cent of auctions recorded a positive result this week, which is higher than the 71.4 per cent last year, across a lower volume of auctions (2,701).
<a href="https://www.propertyobserver.com.au/images/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.16.20%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.16.20%20am.jpg" alt="">
Overall activity has increased week-on- week, with volumes increasing across all the capital cities, with clearance rates also rising in most capital cities with the exception of Canberra and Perth, where clearance rates fell over the week.
Across Melbourne, this week’s preliminary clearance rate rose to 80.1 percent, up from 75.7 per cent last week and remaining above the clearance rate for the city one year ago (74.8 per cent).
This week, Melbourne saw a substantial increase in volumes, with 1,613 auctions held, higher than the 1,091 held last week and also higher than a year ago when there were 1,347 Melbourne auctions held over the week.
Of the 9 individual Melbourne sub-regions, this week the strongest performer, in terms of clearance rate was the Outer East region.
<a href="https://www.propertyobserver.com.au/images/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.14.32%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.14.32%20am.jpg" alt="">
So far, CoreLogic has collected 77 results for the region and the preliminary result shows 87.0 percent of these auctions were successful.
Sydney’s preliminary auction clearance rate increased to 81.5 percent this week, across a higher volume of auctions.
Last week, Sydney’s clearance rate was 80.6 percent, while one year ago results show that 72.1 per cent of Sydney homes taken to auction were successful.
This week volumes were higher, up to 1,169 from 856 last week and also higher than what was seen over the same week last year, when 919 Sydney homes were taken to auction over the week.
<a href="https://www.propertyobserver.com.au/images/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.14.39%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.14.39%20am.jpg" alt="">
The Inner West sub-region of Sydney has shown the strongest performance so far this week, with 90.2 per cent of the 61 reported results selling.
There were 174 Brisbane homes taken to auction this week, with 99 results reported so far.
<a href="https://www.propertyobserver.com.au/images/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.14.47%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.14.47%20am.jpg" alt="">
The preliminary clearance rate for the city is 63.3 percent, up from 47.1 percent last week and higher than one year ago, when 57.4 percent of the 179 properties taken to auction were successful.
Across the Gold Coast 40 results have been reported so far, with a success rate of 55.0 percent (22 sales).
This week, Adelaide saw a preliminary clearance rate of 76.3 percent, with 80 reported results across a total of 121 scheduled auctions.
<a href="https://www.propertyobserver.com.au/images/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.14.56%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.14.56%20am.jpg" alt="">
In comparison, over the previous week Adelaide’s clearance rate was 65.8 percent and 64.0 percent one year ago.
There were 46 Perth auctions this week, with a preliminary clearance rate of 21.4 percent. Last week, 31.0 percent of the 42 auctions held were successful.
Across Canberra a total of 100 auctions were held this week, compared to 92 last week and 75 at the same time last year.
Canberra’s preliminary clearance rate of 77.3 percent is lower than it was the previous week (80.2 per cent).
In Tasmania, 6 auctions were reported to CoreLogic with 3 sales.
Canberra saw the sale of 45 Tinderry Circuit, Palmerston for $435,000 (above).
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Weekend auction success rate highest for the past year: CoreLogic

Kew has long been regarded as one of Melbourne's premier residential suburbs. It's a location defined by its grand period homes, leafy streets and some of the city's most prestigious schools, yet it has often sat just outside the spotlight cast on neighbouring Hawthorn and Camberwell.

Increasingly, however, buyers are recognising that Kew offers much of what draws people to those suburbs, with a quieter residential setting, exceptional amenity and long-term owner-occupier appeal.

Within a few minutes' walk, residents can access Kew Junction, one of Melbourne's most established village centres. Cafés, bakeries, restaurants, supermarkets, boutique retailers and everyday services are all on the doorstep, with local favourites including Centonove, Adeney Milk Bar Cafe, and Frank &amp; Harri creating the type of walkable lifestyle that has become increasingly difficult to find in Melbourne's inner east. Beyond the immediate neighbourhood, Glenferrie Road's renowned shopping and dining precinct in Hawthorn and the retail, dining and entertainment offerings of Camberwell Junction are both just a short drive or tram ride away.

The suburb is equally well connected. Tram routes 48 and 109 provide direct access to the CBD, while High Street and Cotham Road connect residents to the wider inner east.&nbsp;Nearby access to the Eastern Freeway also places the Yarra Valley, Mornington Peninsula and Melbourne Airport within easy reach, adding another layer of convenience for weekend travel.&nbsp;It's a rare combination of connectivity and tranquillity, where quiet residential streets sit just moments from some of Melbourne's most established shopping and lifestyle precincts.

For families, Kew remains one of Melbourne's most tightly held addresses. Carey Baptist Grammar School, Xavier College, Methodist Ladies' College, Trinity Grammar, Ruyton Girls' School and Genazzano FCJ College are all nearby, while the Yarra River parklands, walking trails and sporting clubs provide another layer of lifestyle appeal.

It's within this established pocket that developer Ricdanic is delivering <a href="https://www.apartments.com.au/new-apartments/wimba-ave-kew-9-11-wimba-avenue-kew-vic-3101">Wimba Ave</a>, a boutique collection of just 13 residences across two buildings named after its location on the tree-lined Wimba Avenue,&nbsp;within one of Kew's most prestigious pockets where homes have been known to sell up to and above $8 million.

[smartcode_project:default project_id=140755 project_image_fid=354809]

The residences prioritise the space that buyers are increasingly searching for but struggling to find in established suburbs. Living areas extend beyond five metres in width, ceiling heights range from three to five metres, and apartments open onto private gardens averaging around 125 sqm. Selected residences also feature balconies of approximately 60 sqm, while premium inclusions include Miele appliances, double-glazed windows, EV readiness, fully electric systems and a 7.2 NatHERS energy rating.

Architect Chris Idle says opportunities to deliver homes of this scale within established suburbs have become increasingly uncommon.

"There are very few opportunities to do these kinds of developments in leafy, established suburbs," he says. "To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare."

[smartcode_project:default project_id=140755 project_image_fid=366267]

The architecture draws on Kew's established character through the use of handmade Krause bricks, while landscaping by John Patrick introduces 23 plant species, including nine native varieties, creating an environment which focuses just as much on nature as it does the building.

Construction on Wimba Ave is well underway by renowned high-end builder Sinjen, with completion expected in late 2027. Prices start from $2.22 million.

[smartcode_project_cta:default project_id=140755]

Joel Robinson

The enduring appeal of Kew's tree-lined streets and village lifestyle

"For me, it's the location." That was the first thing Chris pointed to when reflecting on why he and his wife Marita decided to purchase at Candela Ivanhoe, the under-construction new apartment development by Salter Brothers in the heart of the north-eastern M​elb​ourne​ suburb. ​

"We've lived here before… everything is here," Chris said.

"Our doctor is around the corner, there's dentists, pilates, everything we need, restaurants, fast food places, two train stations, Ivanhoe and Darebin, both in walking distance. You don't need anything else."

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Just 10 kilometres from Melbo​urn​e's CBD, Ivanhoe combines direct city connectivity with the amenity of an established village community. Residents have access to highly regarded schools, expansive parklands, public transport, and a thriving retail and hospitality precinct centred around Upper Heidelberg Road, all within a neighbourhood that has retained its leafy character despite its proximity to the city.

<a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a> sits within the heart of this established landscape, positioned just moments from Ivanhoe Village and within walking distance of many of the suburb's most sought-after amenities.

[smartcode_project:default project_id=342 project_image_fid=364553]

From Candela, residents can access cafés, grocers, wine bars, restaurants and essential services on foot, while Ivanhoe Station and Darebin Station provide direct connectivity across Mel​bour​ne. The development is also surrounded by some of the suburb's best-known lifestyle destinations, including Pinkie, Laurent, Enni, Docasa and Woodfire Pizza e Cucina, alongside Ivanhoe Plaza, Woolworths, pharmacies and specialty retailers.

Green space is another defining feature of the suburb. Darebin Parklands, Ivanhoe Park, Nellie Ibbot Park and the Yarra River trail network provide extensive opportunities for recreation, while Ivanhoe Golf Course and Ivanhoe Tennis Club continue to underpin the area's long-established lifestyle appeal.

The suburb's education offering further strengthens demand. Ivanhoe Grammar School, Ivanhoe Girls' Grammar School, Mary Immaculate Primary School and Ivanhoe Primary School have helped establish the area as one of Melbou​​rne's most sought-after schooling precincts, attracting families and downsizers alike who want to remain connected to the area.

[smartcode_project:default project_id=342 project_image_fid=357510]

While location was the priority for Marita and Chris, the project itself also needed to meet their expectations.

"Whilst location was paramount, I was also looking at design of the environment and Candela ticked every box," Marita said.

"We're just thrilled with our choice."

[smartcode_project:default project_id=342 project_image_fid=336455]

Developed by <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>, Candela Ivanhoe has been designed to complement its village setting, with an emphasis on generous floorplans, natural light and practical everyday living.

Residents will have access to a range of shared amenities, including a communal rooftop garden and dedicated residential lounge, complemented by a ground-floor café and lifestyle wellbeing centre, helping foster the sense of community already emerging among future owners.

That approach has resonated strongly with the market. More than 90 per cent of purchasers at Candela Ivanhoe are owner-occupiers, with buyers ranging from downsizers and second-home buyers to young families and first home buyers, creating a genuinely multi-generational community of grandparents, parents and children. It reflects a broader shift across Melbo​​urne's apartment market, where buyers are increasingly prioritising neighbourhood quality, lifestyle amenity and long-term liveability.

Currently under construction by Ironside, Candela Ivanhoe comprises 58 apartments. Candela Ivanhoe is scheduled for completion in the coming months, and residents can move in from September. One to four bedroom residences, prices from $649,000 and limited opportunities remaining.

[smartcode_project_cta:default project_id=342]

Location and lifestyle drive demand at Candela Ivanhoe

As apartment buyers increasingly look beyond the four walls of their residence, the quality and depth of shared amenity has become a defining factor in how developments are designed and experienced, particularly in the high-rise, new apartment development space.

In Southbank, where high-density living continues to evolve, developers are placing greater emphasis on creating environments that support wellbeing, connection, and convenience as part of everyday life.

That approach sits at the heart of <a href="https://www.apartments.com.au/new-apartments/aura-at-melbourne-square-7-hoff-boulevard-southbank-vic-3006">AURA</a>, the latest residential tower in <a href="https://www.apartments.com.au/developers/osk-property">OSK Property</a>’s $3.5 billion Melbourne Square precinct. Rising 67 storeys above Hoff Boulevard, the 673-apartment development has been conceived around what OSK describes as a “vertical wellness ecosystem”, a layered collection of amenities that extends throughout the building rather than being confined to a single podium level.

[smartcode_project:default project_id=151921 project_image_fid=370263]

The amenity offering begins on the seventh level within the AURA Club, a dedicated resident hub focused on health, relaxation, and daily convenience. Here, residents will have access to an indoor swimming pool, cold plunge, spa, sauna, and steam room, alongside a fully equipped gym, reformer Pilates studio, and yoga room.

The wellness facilities are complemented by a range of spaces that acknowledge the changing ways people live and work. Work-from-home lounges and co-working areas sit alongside a library, music room, games room, cinema facilities, and open-air terrace spaces, providing residents with flexible environments that can adapt throughout the day.

[smartcode_project:default project_id=151921 project_image_fid=367468]

Beyond the internal amenity, AURA introduces a series of Japanese-inspired gardens that form a quieter counterpoint to the tower’s social spaces.

Landscaped retreats feature curated outdoor dining, tranquil courtyard seating, fire pit, and a tea house pavilion. Rather than functioning as simple recreational areas, the gardens have been designed as places for reflection and informal gathering, drawing on principles of balance, nature, and calm that underpin the project's broader design philosophy.

[smartcode_project:default project_id=151921 project_image_fid=367810]

The social amenity continues to evolve as residents move higher through the building. Levels 49 and 50 house the Meridian Club, where a lounge bar, conservatory spaces, and private dining rooms take advantage of elevated city views. At the summit of the tower, the exclusive Cumulus Club spans Levels 66 and 67, offering additional lounges, private dining, and meditation and treatment rooms positioned above Melbourne’s skyline.

For OSK Property, the extensive amenity offering reflects a broader focus on wellbeing as a core component of apartment living rather than an added feature.

“Aura stands tall as an exemplar of holistic wellness – its focus on social, physical and mental health culminate in a building that is calming, restorative and relaxing, where residents will have their own sanctuary within the well-connected and sought-after Southbank,” says OSK Property CEO Chong Boon Woon.

[smartcode_project:default project_id=151921 project_image_fid=367796]

AURA’s amenity strategy extends beyond the tower itself through its integration with the wider Melbourne Square precinct.

Residents will have direct access to Kennedy Park, Southbank’s 3,745 sqm landscaped public park, alongside a full-line Woolworths supermarket, childcare centre, hospitality venues, and approximately 1,600 sqm of additional retail planned within AURA’s lower levels. Together, these elements create a highly connected residential environment where daily needs, recreation, and wellness are woven into the fabric of the community.

[smartcode_project:default project_id=151921 project_image_fid=370253]

As Melbourne’s apartment market continues to mature, developments are increasingly judged by the lifestyle they provide beyond individual residences.

Through its combination of wellness facilities, landscaped retreats, social clubs, and precinct-wide amenity, AURA represents a shift toward a more comprehensive model of vertical living, one where shared spaces play as significant a role as the homes themselves.

[smartcode_project_cta:default project_id=151921]

AURA elevates amenity living at Melbourne Square

Builder-developer Scion is the latest to target Sydney's booming Hills Showground Metro precinct, filing plans for more than 100 apartments within walking distance of the station.

Scion has lodged a concurrent rezoning and State Significant Development Application for <a href="https://www.apartments.com.au/new-apartments/27-33-middleton-avenue-castle-hill-nsw-2154">27–33 Middleton Avenue</a>, where it plans to replace four existing homes with an 11 and 14-storey mixed-use development comprising 109 apartments, six affordable housing dwellings, and a ground-floor café.

Designed by BHK Architects, the proposal includes three levels of basement parking with 174 spaces, more than 1,200 sqm of communal open space, and extensive landscaping across the 3,791 sqm site.

The development has been designed as two buildings connected by a recessed wintergarden spine, with the 14-storey building positioned to the south and the 11-storey building to the north.

<img alt="Scion" data-entity-type="file" data-entity-uuid="64dc359d-736b-43b8-87a8-70a8285cab47" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-25%20at%208.47.01%E2%80%AFPM.png?VersionId=PXh.m8id_aevBPHEckPf88wQ2RQThPos" />

The apartment mix has been weighted towards owner-occupiers, with 13 one-bedroom apartments, 55 two-bedroom residences, 31 three-bedroom apartments, six three-bedroom lofts, and four four-bedroom homes. Six apartments will be dedicated as affordable housing in line with the NSW Housing SEPP.

According to the Architectural Design Report by BKH, the proposal seeks to create "a place-responsive architecture" inspired by the natural landscape surrounding Cattai Creek, while strengthening the public domain through landscaping, active frontages and a neighbourhood café.

Atlas Urban, in its Urban Design Report, says the proposal takes a different approach to increasing density around Hills Showground Station by favouring a more slender, vertically articulated built form over a conventional mid-rise outcome. The report argues this allows for greater deep soil planting, improved solar access and a better public domain outcome, while still delivering additional housing close to rapid public transport.

The site sits around 500 metres from Hills Showground Metro Station, within a precinct earmarked for significant residential intensification following the opening of the Sydney Metro Northwest line. Planning documents accompanying the application note that Greater Sydney's population has grown by more than one million people since planning for the precinct first began, reinforcing the need to accelerate housing delivery around existing transport infrastructure.

Scion is expanding its development pipeline which also includes <a href="https://www.apartments.com.au/new-apartments/chatham-west-ryde-2-6-chatham-road-west-ryde-nsw-2114">Chatham in West Ryde</a>, 62 apartments which are approaching completion. They also have a State Significant Development Application with the NSW Government's Housing Delivery Authority for <a href="https://www.apartments.com.au/new-apartments/96-anzac-avenue-west-ryde-nsw-2114">145 apartments on Anzac Avenue</a>, also in West Ryde.

First look: Scion plots Castle Hill apartment development near Hills Showground Metro Station

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>&nbsp;has unveiled its scaled-back plans for a pair of towers rising up to 49 storeys directly opposite Bella Vista Metro Station.

The builder-developer will deliver 674 apartments and a new mixed-use hub at the gateway to the station precinct.

The State Significant Development Application has been lodged under the Housing Delivery Authority pathway for the 6,979 sqm site at <a href="https://www.apartments.com.au/new-apartments/9-11-mawson-avenue-bella-vista-nsw-2153">9-11 Mawson Avenue</a>, with the apartments sitting above a mixed-use podium. Initial plans were for closer to 900 apartments across two 40-storey towers.

Located around 30 metres from the Bella Vista Metro Station entrance, the development is intended to act as a catalyst for the long-planned Bella Vista Station Precinct, transforming a vacant site into a transit-oriented residential and commercial destination.

Planning documents describe the project as delivering "a high-density mixed use destination that combines housing, retail and community-serving uses in a highly accessible setting."

<img alt="First look: Urban Property Group plans 674-apartment Bella Vista towers opposite Metro station" data-entity-type="file" data-entity-uuid="21c08216-589e-490d-ad08-2d88b6fa62d9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bella%20vista%20podium.png?VersionId=3TnwjjQCNwTsmyQRaWnFrLTSAF0CJeka" />

Designed by <a href="https://www.apartments.com.au/architects/turner-studio">Turner</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, the project comprises 674 apartments, including 102 affordable housing dwellings representing 15 per cent of the residential floor space. The housing mix spans studios, one, two and three-bedroom apartments, alongside a collection of townhouse-style residences integrated into the podium levels. The development also includes specialist disability accommodation and an elevated provision of adaptable and liveable housing.

The mixed-use podium has been designed to create an active urban centre around the Metro station, incorporating a 1,423 sqm supermarket, a 3,029 sqm gym, specialty retail spaces, a 100-place childcare centre and a publicly accessible "city room" community space. A secondary laneway, active frontages and landscaped public areas are intended to improve pedestrian connectivity through the site and strengthen links between the station precinct and surrounding neighbourhood.

In the project's design report, Turner said the proposal responds to Bella Vista's emerging role as a higher-density centre within Sydney's north-west growth corridor.

"The project transforms a strategically located site into a high-density mixed use destination that combines housing, retail and community-serving uses in a highly accessible setting," the report states.

"Active frontages, a publicly accessible city room, a secondary laneway and a mix of uses including a local supermarket, child care centre and gym create a more complete and socially useful urban environment for residents, workers and the wider community."

<img alt="First look: Urban Property Group plans 674-apartment Bella Vista towers opposite Metro station" data-entity-type="file" data-entity-uuid="0fde6220-82de-4f6a-9b63-d0fd8157acc9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bella%20vista%20da.png?VersionId=7hEmuSutH8plTd_RqqdmPu055F6qe554" />

Urban Property Group has been one of the busiest developers across Greater Sydney this year.

The developer is progressing around 1,000 apartments across <a href="https://www.apartments.com.au/news/nsw/first-look-urban-property-group-plans-next-major-wollongong-tower">two projects in Wollongong</a>, with several thousand more homes in the pipeline across Newcastle, Castle Hill, Little Bay and Penrith.

Staff reporter

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