<a href="https://www.apartments.com.au/developers/coronation-property">Coronation Property</a> has received development approval for Archer &amp; Albert, a 32-storey, mixed-use residential development in the heart of Chatswood.

Located at 57–61 Archer Street and 34 Albert Avenue, <a href="https://www.apartments.com.au/new-apartments/archer-albert-chatswood-57-61-archer-street-chatswood-nsw-2067">Archer &amp; Albert</a> will deliver 150 new homes, including affordable housing, alongside ground-floor and podium retail, commercial space, a heritage house activated as a café, additional ground-level activation, and a landscaped publicly accessible park designed for community use.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/archer-albert-chatswood-57-61-archer-street-chatswood-nsw-2067">Archer &amp; Albert</a> is one of the few large-scale residential developments in the heart of Chatswood City to progress through a council-led architectural design competition and secure development approval, positioning it at the forefront of design led housing.&nbsp;

<img alt="Archer" data-entity-type="file" data-entity-uuid="33cb754a-1493-4203-bd16-096d320597f6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A%2BA_C03_EXT_StreetScape_ID1.jpg?VersionId=oLUPFVAMxuRUTH1Bwki16R48cEo.vLeB" />

Designed by global architecture practice <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, long-term collaborators of the Coronation team, the project draws inspiration from the Sydney Blue Gum High Forest and the leafy character of the South Chatswood Heritage Conservation Area. The design integrates a restored heritage-listed home and establishes a landscaped connection between Chatswood’s urban centre and its surrounding residential neighbourhoods.&nbsp;

“This is an important project for us and our first entry into the North Shore,” said Joe Nahas, Managing Director of &nbsp;Coronation Property.&nbsp;

“We are deliberate about where we invest and build, <a href="https://www.apartments.com.au/developments/chatswood-nsw-2067">Chatswood</a> stands out because the fundamentals are already strong. Transport, employment, education, retail and health are all in place. Archer &amp; Albert is about adding new housing into a centre that already works and building on what exists.”&nbsp;

<img alt="Chatswood" data-entity-type="file" data-entity-uuid="620fcd78-00be-489b-823a-ca353387b91b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A%2BA_C04_EXT_PARK_HA_ID2.jpg?VersionId=NxSl04Zl1rzt94xlXNA6CNzSR9XMyLgP" />

Aras Labutis, Head of Urban Transformation at <a href="https://www.apartments.com.au/developers/coronation-property">Coronation Property</a>, said the project reflects a disciplined, collaborative approach to city shaping.&nbsp;

“Chatswood sits at an important junction between high-density commercial activity and established residential &nbsp;neighbourhoods," Labutis said.

"Our focus for Archer &amp; Albert was to manage that transition carefully, respecting what’s already there &nbsp;while contributing something new that feels deliberate and enduring."

The approved scheme delivers:&nbsp;

<ul>
	<li>A 32-storey mixed-use tower comprising 150 homes, including 41 affordable housing dwellings • 530sqm of ground-floor retail, dining and commercial offerings&nbsp;</li>
	<li>A 760sqm wellness tenancy integrated within the podium&nbsp;</li>
	<li>A restored heritage building, thoughtfully reimagined as a café overlooking the park&nbsp;</li>
	<li>A landscaped public park, designed as a calm green retreat in the heart of Chatswood&nbsp;</li>
	<li>Resident amenities include a premium gym, golf simulator, mahjong room, dedicated wellness areas, private &nbsp;dining facilities and a curated wine room&nbsp;</li>
	<li>Deep private balconies designed to capture outlooks and northern light&nbsp;</li>
	<li>A refined material palette of natural stone, timber and terracotta&nbsp;</li>
</ul>

[smartcode_project_cta:default project_id=29796]

Joel Robinson

Coronation receives green light for Archer & Albert apartments in Chatswood

Leading Sydney developer <a href="https://www.apartments.com.au/developers/deicorp">Deicorp</a>, in partnership with Metrics Credit Partners, has officially broken ground on its landmark $1.8 billion Kings Bay Village project in <a href="https://www.apartments.com.au/developments/five-dock-nsw-2046">Five Dock</a>, marking the beginning of construction on one of the most significant urban renewal precincts within the Parramatta Road Corridor.

A sod-turning ceremony was held at the project site on Parramatta Road, with NSW Premier Chris Minns and NSW Planning Minister Paul Scully joining Deicorp Chairman Fouad Deiri OAM and Metrics CEO and Managing Partner Andrew Lockhart, to mark the significant milestone.

Located at 129-154 Parramatta Road, <a href="https://www.apartments.com.au/new-apartments/kings-bay-village-five-dock-53-75-queens-road-five-dock-nsw-2046">Kings Bay Village</a> will transform more than three hectares of underutilised land into a highly connected new neighbourhood comprising 1,185 homes, including 218 affordable dwellings for essential workers, alongside new retail, commercial, and community spaces.

[smartcode_project:default project_id=146120 project_image_fid=356895]

Designed by award-winning architects <a href="https://www.apartments.com.au/architects/turner-studio">TURNER</a>, the precinct blends crafted brick architecture with a pedestrian-focused urban layout across six buildings of varying scale. The project will deliver 14,700sqm of retail and commercial space, 6,500sqm of public open space, and a new 2,290sqm landscaped park and civic plaza that will form the social heart of the community.

Kings Bay Village is positioned minutes from the future Five Dock Metro Station, supporting the NSW Government and City of Canada Bay Council’s shared ambition for a more connected, liveable and revitalised Parramatta Road Corridor. Deicorp will also contribute more than $80 million towards new and upgraded local infrastructure, including pedestrian laneways, an activated streetscape and significant public domain works.

Fouad Deiri OAM, Chairman of Deicorp, said Kings Bay Village represents a defining opportunity for Sydney’s Inner West.

&nbsp;“Today marks the beginning of a precinct that will deliver lasting benefits for the Five Dock community - new homes, new open spaces, and a vibrant mixed-use environment that brings people closer to transport, services and amenities,"&nbsp;Deiri says.

“We are proud to be delivering much-needed housing, including affordable homes for essential workers, in partnership with the NSW Government and the City of Canada Bay. Kings Bay Village is urban renewal at its best - thoughtful, connected and community-focused.”

[smartcode_project:default project_id=146120 project_image_fid=356894]

Metrics CEO and Managing Partner Andrew Lockhart said the company is proud to support more housing and infrastructure in a key Sydney corridor. 
&nbsp; 
“Metrics and Deicorp share a proven track record of delivering high-impact projects that align closely with the NSW Government’s housing and infrastructure priorities. Kings Bay Village marks our most significant Sydney development to date, offering quality homes, essential infrastructure, and dynamic public spaces.” 
&nbsp; 
“This project reflects our ongoing commitment to creating value by supporting economic growth, job creation, and delivering excellent outcomes for our investors,” he said.

With Kings Bay Village now underway, Deicorp’s pipeline of apartments under construction across Sydney has increased to 5,102. Kings Bay Village is scheduled for completion in Q2 of 2029.

[smartcode_project_cta:default project_id=146120]

NSW Premier and Planning Minister join Deicorp and Metrics to break ground on $1.8 billion Kings Bay Village precinct

When Antoinette Chan and her architect husband, Peter began casually searching for an investment property, they weren’t expecting it to evolve into a life-changing family decision.

But one visit to the display suite of <a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a>’s <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-1-11-rodborough-avenue-crows-nest-nsw-2065">KOYO</a> development in Crows Nest changed everything, and sparked a remarkable story of three generations choosing to live side by side in one of the suburb's most architecturally-striking new developments.

Antoinette, her mother Janet Khoo, and her sister, who is currently living in Singapore, each purchased an apartment in the same building, creating a rare and meaningful multi-generational living arrangement underpinned by modern design, community values, and premium convenience.

[smartcode_project:default project_id=108800 project_image_fid=356083]

“It wasn’t planned,” says Antoinette, who purchased a three-bedroom garden apartment with her husband and teenage daughter. “Peter came across KOYO and encouraged me to visit because he had a lot of respect for Abadeen’s previous work. As soon as we saw it, we knew it wasn’t just an investment, this was a home.”

Shortly after, Antoinette suggested her mother, Janet Khoo, take a look at the same development. A long-time inner-city resident who had recently sold her property in The Rocks, Janet had experienced some health setbacks and was contemplating a move closer to her daughter.

“I walked into the display apartment, and it just felt right,” says Janet. “I didn’t look anywhere else. The space, the simplicity of the design, the light, everything gave me a sense of peace. It’s a new beginning, but it also feels like home.”

[smartcode_project:default project_id=108800 project_image_fid=356093]

In a stroke of serendipity, Janet selected the two-bedroom apartment next door to her daughter, completely unaware of Antoinette’s purchase. Around the same time, Antoinette’s sister, who resides in Singapore, viewed the property via a virtual tour and chose to buy the apartment directly above Janet’s.

“We were all drawn to KOYO individually, and it just happened that our homes ended up vertically stacked, ground, first, and second floor,” Antoinette laughs. “It was a coincidence, but also a sign. This is where we’re meant to be.”

Designed by celebrated architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, KOYO delivered on all fronts for the Chan-Khoo family.

“Our garden apartment gives us the feel of a standalone home but with none of the maintenance,” says Antoinette. “All three bedrooms open onto a generous private garden, which is perfect for our dog Archie, and for entertaining. The open-plan layout and high ceilings make it feel airy, calm and luxurious.”

[smartcode_project:default project_id=108800 project_image_fid=356092]

For Janet, security and accessibility were top priorities, and KOYO offered the ideal balance.

“At my age, I didn’t want to be climbing stairs,” she explains. “The first-floor apartment opens directly to the garden, and the building is small, which gives it a more personal, village-like feel. Yet I’m just steps away from my daughter and granddaughter. That gives me so much peace of mind.”

The family also appreciated the thoughtful amenities that avoided the excesses of some larger developments.

“We didn’t want a complex with too many facilities we wouldn’t use,” explains Antoinette. “KOYO has everything we need, generous storage, secure parking, beautifully landscaped walkways, and a stunning rooftop terrace with BBQ facilities that feels serene rather than busy.”

[smartcode_project:default project_id=108800 project_image_fid=355428]

The location was another critical factor in the family’s decision. Though they had always lived closer to Sydney’s eastern suburbs, Antoinette says the transformation of Crows Nest was a revelation.

“When we returned from living overseas, we discovered Crows Nest had become this vibrant, walkable hub,” she says. “We love being able to stroll to cafés, restaurants, and shops on Willoughby Road. The new Metro makes the commute into the CBD effortless, and our daughter can walk to her school, it’s just next door."

Janet agree. “I was worried about giving up my inner-city lifestyle, but I’ve fallen in love with this area. It has everything I need, supermarkets, quiet streets, friendly faces, and it’s all a short walk away. I feel safe, independent, and connected.”

[smartcode_project:default project_id=108800 project_image_fid=356085]

While design and location were important, the family also credits their decision to Abadeen’s reputation and responsiveness. With decades of experience delivering high-quality residential projects, Abadeen’s track record helped build trust during a volatile market period.

“The waiting game was tough, especially after selling my old apartment,” says Janet. “But the Abadeen team kept me updated every step of the way. They were professional, courteous, and transparent.”

Antoinette said Peter works in property and had already heard of Abadeen. "The quality of their work really impressed us, and as the project neared completion, they went above and beyond to keep us informed and supported. That level of communication is rare.”

Only a handful of three-bedroom residences remain for sale, priced from $3.5 million.

[smartcode_project_cta:default project_id=108800]

Three generations, one address: How a family found sanctuary and connection at Abadeen's KOYO in Crows Nest

Sydney-based developer Gold Partners Australia is making its move on the Gold Coast, launching what is one of the most affordable towers to the booming Broadbeach market.

Its <a href="https://www.apartments.com.au/new-apartments/harmony-on-broadbeach-2797-gold-coast-highway-broadbeach-qld-4218">Harmony on Broadbeach</a> project, just 400m from the beach, has prices starting from $975,000 for its two-bedroom apartments that measure nearly 90 sqm internally.

[smartcode_project:default project_id=113098 project_image_fid=355607]

There will be 113 two- and three-bedroom apartments spread out across the 33-storey tower on the 1,201 sqm site that will front First Avenue. Gold Partners Australia, which has delivered several major projects in Sydney's Norwest and has an active pipeline with projects in Hornsby and Carlingford, secured the block vacant, and want to start preliminary site works early next year through their in-house construction capability.

DBI Architects designed the tower with a four-level podium which will have an open-air swimming pool, sun deck, outdoor lounges, alfresco dining spaces, and a gym with adjoining yoga lawn. A hospitality venue will anchor the building at street level.

[smartcode_project:default project_id=113098 project_image_fid=355611]

Olympus Property Group is selling Harmony on Broadbeach on behalf of Gold Partners Australia. Olympus Director Deanna Lockett says the project is resonating with everyone from locals, investors, those moving from interstate, and second home buyers from Brisbane.

"There's been nothing new come to the market in Broadbeach at this price point for nearly a year," Lockett recalls. "It hits the sweet spot of affordability, good sized apartments, in a great location."

Construction will commence in Q2 2026, and wrap up, all going well, by the end of 2028.

[smartcode_project_cta:default project_id=113098]

Harmony on Broadbeach launches to booming Gold Coast suburb

Display apartments play a crucial role in helping buyers imagine how a space will look and feel once complete.

At <a href="https://www.apartments.com.au/new-apartments/the-albertine-by-mirvac-melbourne-31-queens-lane-melbourne-vic-3004">The Albertine</a> in Melbourne, development giant Mirvac has partnered with furniture maker and retailer MCM House to create a fully furnished, full-scale prototype that showcases the proportions, finishes, and design intent of the project’s three-bedroom residences.

As an added incentive, purchasers of any two- or three-bedroom apartment can receive up to $50,000 worth of MCM House furniture, allowing them to curate their new home with the same craftsmanship, contemporary design, and aesthetic showcased in the display apartment.

<a data-entity-type="file" data-entity-uuid="ae2e947b-2d51-4288-88fa-a35638e3be0f" href="https://www.apartments.com.au/new-apartments/the-albertine-by-mirvac-melbourne-31-queens-lane-melbourne-vic-3004"><img alt="Albertine" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-25%20at%209.27.26%E2%80%AFAM_1.png?VersionId=T5uSwgtTFwd1m5EdQF1inB.tBDgxqbtZ" /></a>

Oversized sofas, solid timber dining tables, and relaxed, low-profile seating demonstrate how the space accommodates real furniture, helping buyers clearly visualise how their new apartment could look, complete with pieces that genuinely suit the scale and design of the home.

The styling is simple but deliberate, with materials that pick up on the apartment’s natural light and neutral tones, creating cohesion without crowding the space.

<a data-entity-type="file" data-entity-uuid="355f10d8-ee75-4546-a42e-4a54abcc806e" href="https://www.apartments.com.au/new-apartments/the-albertine-by-mirvac-melbourne-31-queens-lane-melbourne-vic-3004"><img alt="Albertine" data-entity-type="file" data-entity-uuid="3e0b920b-3f17-47f0-8885-f67697a5f842" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-25%20at%201.17.07%E2%80%AFPM.png?VersionId=tPcmBls5kt_SLqE2ONXrxgk5SnC1xERs" /></a>

Mirvac is now welcoming buyers through the display at The Albertine. Quietly yet conveniently positioned just off St Kilda Road on Queens Road, the development has attracted strong interest from inner-Melbourne and Bayside downsizers, professional couples seeking luxurious low-maintenance living, and design-focused buyers who want proximity to the CBD.

Apartments have been designed by Mirvac's inhouse design team with owner-occupiers at the forefront.&nbsp;The living and dining areas open directly onto a balcony, reinforcing the project’s emphasis on indoor-outdoor flow, while kitchens feature integrated appliances and soft-curve cabinetry which mirror the larger architectural themes at play throughout the building.

<a data-entity-type="file" data-entity-uuid="e8f9b371-17e1-4122-a615-074113096135" href="https://www.apartments.com.au/new-apartments/the-albertine-by-mirvac-melbourne-31-queens-lane-melbourne-vic-3004"><img alt="Albertine" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-25%20at%209.30.16%E2%80%AFAM.png?VersionId=NCYvtMavnE1_YDhX6slAr7g84MWP0Ymp" /></a>

The Albertine offers one to four-bedroom residences complemented by exclusive resident-only amenity, including The Circadian Club, a wellness centre with an indoor pool and spa, gym, yoga and Pilates studio, and sauna, as well as The Elysian Room, a private dining space on level 10 with sweeping views across Melbourne.

Mirvac will welcome residents to The Albertine in 2026, having recently celebrated topping out the&nbsp;

<a href="https://www.apartments.com.au/developers/mirvac">Mirvac</a>&nbsp;recently topped out&nbsp; the topping out of The Albertine, with completion expected in 2026.

To find out more about the generous furniture offer with MCM House, enquire below.

[smartcode_project_cta:default project_id=138659]

Mirvac unveils The Albertine display, offering up to $50k in MCM House furniture

Auction

A modernised 91 sqm unit at Lakemba with a lock up garage was Sydney&#39;s cheapest weekend auction sale.

The 1970s apartment came with a storeroom/home office.

The 12/586 Punchbowl Road Lakemba offering was offered through Ray White Punchbowl agents Kamal Ali and Sam Mehedi.

The two bedroom, one bathroom apartment went to auction with a $360,000 price guide.

[smartcode_project:default project_id=24323 project_image_fid=43444]

It was marketed as having a very high rental potential.

It comes with strata fees of $615 per quarter.

&nbsp;

It last sold at $210,000 in 2003, meaning the sale represents a near doubling in value

jchancellor

$408,000 Lakemba apartment ranked as Sydney's cheapest weekend apartment auction outcome

The one bedroom apartment at 306/270 King St, Melbourne was the cheapest auction deal.

The apartment was secured for $330,000.

The price guide from the Brady Residential selling agents was $320,000 to $350,000.

It last sold at $317,500 in 2010.

[smartcode_project:default project_id=89720]

There have been two other one bedroom sales this year at $300,000 and $328,500.

The 61 sqm space was last available for rent in March at a $280 a week asking rental through Micm Real Estate.

It was available last November at $350 a week.

Its peak asking rental was $450 a week in early 2019.

The current rental has slipped back to close to its 2006 asking rent of $275.

The block has 175 apartments.

This year has seen five one bedroom apartments that sought rentals at between $280 and $300 a week.

The one bedroom 306/270 King St, Melbourne was snapped up pre-auction for $330,000

$330,000 sale secures Melbourne's cheapest weekend auction deal

Sydney&rsquo;s top weekend sale came auction eve when a Cronulla apartment was snapped on Friday.&nbsp;

The four bedroom, three bathroom Saltaire apartment at 201/21-23 Prince St fetched $5.8m through Highlands Property agent Mitchell Wynn.&nbsp;

The apartment is set in the boutique block of eight spread over flour floors.

The second floor space last sold at $3.8m in 2018.

[smartcode_project:default project_id=6201]

Cronulla&#39;s median apartment price sits at $825,000 according to realestate.com.au.

Sydney’s top sale came weekend auction eve when a Cronulla apartment was snapped Friday. 

$5.8 million trophy Cronulla apartment sale tops weekend results

<html><body>
The demand for property in Victoria reached record levels in February.

Some 84.8 per cent of the 3,000 properties that went to auction sold under the hammer, the Real Estate Institute of Victoria found.

It was also the highest clearance rate of any month over the last 11 years, topping an old 2010 record which saw an 84 per cent clearance rate.

There were 17 suburbs which saw a perfect auction run, clearing 100 per cent of its properties at auction.

The likes of inner city Hawthorn East, Brunswick East, Collingwood and Fitzroy North saw all of its homes sell.

[smartcode_project:default project_id=3730]

Also scoring a perfect game were Ferntree Gully, Rowville, Seaford, Ashburton, Blackburn South, Fawkner, Wantirna, Boronia, Fairfield, Hillside, Seddon, as well as the bayside suburbs Sandringham and St Kilda West. 

[smartcode_project:default project_id=324]

Reservoir, Coburg, and Bentleigh East beat out the rest to land as the top selling auction suburbs for February 2021, clearing 44, 37, and 35 auctions respectively, while 11 suburbs at least doubled their auction sales compared to same month in 2020.  

The best improvements on last year are in Sunshine North, Dingley Village, Gladstone Park, Ashwood, Albert Park, Fitzroy North, Doncaster, St Kilda West, Montmorency, Hoppers Crossing, and Templestowe.  

The REIV put the stellar results down to government incentives for first home buyers, mortgage repayment holidays and low interest rates, as well as pent up demand following the COVID-19 enforced lockdowns which saw thousands of auctions cancelled.

 
</body></html>

There were 17 suburbs which saw a perfect auction run, clearing 100 per cent of its properties at auction

Victoria sees highest February auction clearance on record

<html><body>
EXPERT INSIGHT

Despite the pandemic, Australia is in the midst of a hugely competitive auction market. Sydney, in particular, is experiencing dizzying auction clearance rates and the Reserve Bank’s decision this week to keep interest rates extraordinarily low will no doubt keep auctioneers busy.

If you’ve ever taken part in an auction, you’ll know emotions can run high, and sometimes drive us to bid more than originally intended.

Our paper, published in the journal <a href="https://cognitiveresearchjournal.springeropen.com/articles/10.1186/s41235-020-00259-w">Cognitive Research: Principles and Implications</a>, found the way auctions are designed and run can vastly increase competitive arousal in bidders.

That’s obviously valuable information for sellers. But if you’re a buyer, the good news is there’s a lot you can do to ensure your competitive spirit doesn’t leave you with a bad case of buyer’s remorse.

To see just how far people were willing to go to win, we studied people’s behaviour in one of the most competitive bidding environments possible: a Dutch auction.

What is a Dutch auction?

<a href="https://www.investopedia.com/terms/d/dutchauction.asp">Dutch auctions</a> are a special auction format where the price starts unrealistically high and then comes down in increments and the first person to bid wins.

Originating in the Netherlands for the rapid sale of perishable goods such as flowers, these auctions are fast, exciting and ultra-competitive. Bidders put everything on the line with the timing of a single bid.

Bidders must trade-off between certainty and price: bid early to secure the item and you pay top dollar; bid later at a lower price and you risk losing to another bidder.

Dutch auctions run this way are not common in the <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-04-04/dutch-auctions-a-grey-area-in-real-estate-industry/9614392">Australian property market</a>, but by studying how people behave in them we can learn a bit about how competitive spirit influences decision-making in other settings.

A strong sense of competitive spirit may be a <a href="https://www.psychologytoday.com/us/comment/887180#comment-887180">human trait</a> honed by years of evolution, but in a heightened competitive environment you may become more willing to take risks you otherwise would not.

You might find your focus drifting toward a different (and possibly dangerous) form of motivation — the desire to win at all costs.

Burning through the budget

Our recent study looked at people’s bidding behaviours during a series of simulated Dutch auctions where we asked participants to imagine being managers of a warehouse.

They were asked to bid against their competitors to buy goods and fill up their warehouse, while staying within their allocated budget.

By bidding early, they stood a better chance of filling up their warehouse quickly but risked paying too much for the goods and running out of money before the warehouse was full. Wait too long and they risked losing the chance to buy stock at all, and watching it go into their competitors’ rapidly-filling warehouses.

In this tense environment, we found people were willing to sacrifice a better long term financial outcome for the sake of simply beating their competitors. In other words, they often burned through their budget too quickly just to “win”.

People initially made well placed and reasonably priced bids early in the auction series.

As the auctions continued, however, we watched participants place bids that unnecessarily, and perhaps irrationally, drained their budget for the sake of a short term victory.

Three ways to win without losing in the long term

Our study helps shed light on bidder behaviour in lots of markets, whether it is property, eBay, auction houses or any setting where the competitive spirit can take hold.

If you’re attending an auction, and don’t want to be a winner who loses in the long term, here are three ways to avoid falling victim to your own competitive spirit:

<ol>
<li>
	be aware that your decisions when in “competition mode” can push you past your budget. Separating the emotion from the decision can help minimise your risk of overspending.
	</li>
	<li>
	set your spending limit before you start and know when to stop. Our findings suggest that competition can easily drag us past that point. While winning is nice, it can also be a curse.
	</li>
	<li>
	give a friend your budget and have them bid for you. Beware their sporting nature, though; they might also be tempted by the thrill of victory.<img alt="The Conversation" eibjtljsu="" height="1" neutgmxam="" nh14kg3yh="" ns="" src="https://counter.theconversation.com/content/156371/count.gif?distributor=republish-lightbox-basic" width="1">
	</li>
</ol>
<a href="https://theconversation.com/profiles/murray-bennett-1207043">Murray Bennett</a>, PhD candidate, <a href="https://theconversation.com/institutions/university-of-newcastle-1060">University of Newcastle</a>

This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/why-the-competitive-spirit-can-take-over-in-auctions-and-how-you-can-stay-in-control-156371">original article</a>.
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jordan_55689

Why the competitive spirit can take over in auctions and how to stay in control

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Across the capital cities some 2,094 homes were scheduled for weekend auction, up from 1,496 over the previous week.

Of the 1,754 results collected so far by CoreLogic, 84 per cent have reported a successful result.

The national auction volume sat around 20 percent down over the same time last year, when 2,517 homes were taken to pre-COVID-19 pandemic auction with 72 per cent sold.

"Auction markets are set to be tested on larger volumes next week, with CoreLogic tracking close to 2,500 capital city auctions scheduled to be held," Corelogic’s Tim Lawless noted.

Melbourne was host to 1,061 weekend, auctions, down on this time last year's 1,248 homes. 

Of the 908 results collected so far by CoreLogic, 82 per cent were successful, down from last week’s preliminary clearance rate of 87 per cent, which revised down to 70 per cent at final figures.

In Sydney, 769 homes were taken to auction last week, compared to 963 this time last year. The preliminary clearance rate came in at 88 percent.

"It is likely that Sydney’s final auction clearance rate will come in above 80 per cent for the third consecutive week," Tim Lawless suggested.

Sydney's had the nation's highest declared sale was in Elizabeth Bay, when a freestanding Queen Anne revival-style mansion on 512 sqm sold for $8.5 million. 

The property offered by the bankruptcy trustee last traded for $2.9 million in 2001.

Across the smaller cities, Canberra recorded the highest preliminary clearance rate at 92 per cent, followed by Adelaide at 85 per cent.  

Dr Andrew Wilson, the chief economist at AI property intelligence platform Archistar noted the weekend saw “red-hot auction markets with rampant buyer activity in all capitals showing no sign of easing.”

All capital cities recorded clearance rates well above 80% on Saturday, with Melbourne the exception just failing to reach that benchmark by 0.4%

Saturday’s clearance rates were generally significantly higher than recorded over the same day last year with the exception of Melbourne that was marginally lower.

Dr Wilson noted Sydney’s Lower North, Northern Beaches and Upper North Shore were the top weekend auction regions all recording clearance rates above 90%.

Sydney recorded a median price for houses sold at auction on the weekend of $1,692,500.

At 87 percent, the clearance rate for units was slightly below that reported for houses. The median unit sale was $970,000.

Melbourne recorded a median house auction price of $1,050,000 at the weekend. The median price for units was $687,500.

The clearance rate for Melbourne units was slightly below that reported for houses.
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Auction wrap: What happened under the hammer February 20?

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There were 1,529 homes scheduled for auction across the combined capital cities last week, up from 1,304 over the previous week. 

Of the 1,191 results collected by CoreLogic so far, 86 per cent have reported a successful result, higher than last week’s preliminary auction clearance rate of 83 per cent which revised down to 79 per cent at final figures.

Over the same week last year, 1,596 homes were taken to auction and 73 per cent of reported results were successful. 

“While the preliminary clearance rate came in strong, it’s important to note that as remaining auctions are collected, we will likely collect more withdrawn results, particularly in Melbourne where another lockdown is currently in place, which would lower the final clearance rate,” CoreLogic’s Tim Lawless suggested.

Melbourne was set host to 668 auctions this week, up from 615 over the previous week.. Of the 467 results collected so far, 87 per cent were successful, up from last week’s preliminary clearance rate of 80 per cent, which was revised down to 76 per cent at final figures. 

Preliminary results show that 47.6 per cent of the successful auctions in Melbourne were sold prior, while so far, just 8 per cent have been reported as withdrawn which we expect will increase over the coming days as the remaining results are collected now that the city is back in a stage 4 lockdown which was only announced on early Friday afternoon..

In Sydney, 624 homes were taken to auction, compared to 447 over the previous week and 583 this time last year.

Sydney’s preliminary clearance rate came in at 87 per cent, down from the previous week’s preliminary clearance rate of 89 per cent, which revised down to 84 per cent at final figures. 

The same time last year saw 75 per cent of reported auctions were successful.

Across the smaller cities, Canberra recorded the highest preliminary clearance rate at 91 per cent, followed by Adelaide on 89 per cent, Brisbane at 62 percent and Perth at 42 percent.

Dr Andrew Wilson, chief economist at Archistar noted “home auction markets continued to report record-level results across-the-board at the  weekend as buyers compete fiercely to secure available property."
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Of the 1,191 results collected by CoreLogic so far, 86 per cent have reported a successful result

Auction wrap: What happened under the hammer on February 13?

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Weekend auction markets saw the combined capitals’ preliminary clearance rate edging above 83 per cent, the best ever rolling success rate recorded by CoreLogic. 

It bettered a brief period in May 2015 and before that in September 2009.

Domain reported the Sydney’s auction market had its biggest result in 24 years, as its preliminary clearance rate reached 88.7 per cent on the weekend.

Every capital city recorded above 70 per cent, CoreLogic noted, after 1287 homes were taken to auction, up on the 884 auctions in the prior week. Over the same week last year, 1167 homes were offered across the capitals, returning a 67 per cent success rate.

It was Canberra that secured the highest weekend clearance rate of 92 per cent.

Sydney followed at 89 per cent, then Adelaide’s 82 per cent, Melbourne on 80 per cent, Perth at 75 per cent and Brisbane on a stronger-than-usual 74 per cent.

The nation’s top auction result was a beach house at Avoca Beach on the NSW Central Coast which fetched $7 million through McGrath.
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Every capital city recorded above 70 per cent, CoreLogic noted, after 1287 homes were taken to auction

Sydney's auction market biggest result in 24 years

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Despite a falling auction clearance rate, the volume of auctions being held across the combined capital cities and in particular, Melbourne, is rising.
Last week, the final auction clearance rate fell to 67.4% across 2,858 capital city auctions, while this week CoreLogic RP Data is expecting there to be just over 3,000 auctions held across the combined capital cities.
Melbourne will be the busiest city by far this week, with 1,710 auctions expected, indicating the busiest week for the city this year, but the auction market won’t be as busy as it was at the same time last year, when over the week 1,837 Melbourne homes were taken under the hammer. Last week, Melbourne was the strongest performing capital city market with both the highest volume of auctions (1,398) and the highest clearance rate (72.7%).
Notably, Melbourne’s auction performance last week was much stronger than Sydney, with the city recording its lowest clearance rate since early 2013 at 63.7%, representing a substantial fall from the previous week (69.6%). This week, Sydney is expecting 996 auctions to be held, relatively similar to last year when 961 Sydney homes were auctioned.
Auction markets will be busier in Brisbane (213), Adelaide (109) and Perth (35) this week compared to last week when 145, 93 and 16 auctions were held respectively. Canberra’s auction market activity will slow down this week, with 60 auctions expected, compared to 86 the previous week.
This week, the busiest individual suburbs for auctions are all in Victoria:
– Glen Waverley (30 auctions)
– Reservoir (23 auctions)
– Mount Waverley (22 auctions)
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Clearance rate falling, auction activity rising: CoreLogic RP Data's Shana Miller

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The number of auctions scheduled across Australia’s capital cities is relatively low this week, again driven by the school holidays.
Across the combined capital cities, CoreLogic RP Data is currently tracking 1,705 auctions this week, slightly higher than the 1,674 last week, but far fewer than the preceding three weeks. Last week, the final auction clearance rate across the combined capitals was 76.8%, remaining steady when compared to the previous week (76.9%). So far this year, the auction clearance rate has been much higher than at the same time last year, with last week being no exception.
Currently, CoreLogic RP Data is tracking 660 Melbourne auctions, only slightly higher than last week, when there were 640 auctions across the city and higher than at the same time last year (567). Last week, 78.6% of the reported auctions across Melbourne were successful; this was the fourth consecutive week in a row where Melbourne’s clearance rate was below the 80% mark.
There are 796 Sydney auctions planned this week, up from 734 last week and much higher than the 580 at the same time last year. For the second week in a row, Sydney’s auction clearance rate was recorded at 82.0% last week.
Across Brisbane, 120 auctions are scheduled this week, after there were 115 Brisbane auctions last week and 118 at the same time last year. Last week, Brisbane’s clearance rate was 63.5%, the strongest result for the city since February, and the second highest clearance rate for 2015.
Much like Sydney and Melbourne, Adelaide’s clearance rate was steady last week, at 69.3%, down only slightly from 69.9% the previous week. There are 66 Adelaide auctions scheduled for the coming week, lower than last week and last year (both 85).
Canberra has 31 auctions set to take place this week, down from 58 last week and 41 last year.
Across Perth 22 homes will be taken to auction over the week, compared to 35 last week and 24 last year.
This week, the highest number of auctions across any one individual suburb will be in the Victorian suburb of Reservoir (15), followed closely by New South Wales’ Blacktown (14) and Queensland’s Surfers Paradise (14).
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