Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Auction

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Combined city national preliminary auction clearance rates are at 76.3%, according to CoreLogic RP Data's Property Market Indicator Summary for the week ending August 16.
Last week the combined national auction clearance rate was 76.9%, however auction volumes are lower.
The final auction clearance rate for this time last year was 70.8%
Sydney had a clearance rate of 80%.
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mick.cee-iDmgDDAmu8

Sydney's clearance rate hits 80%: CoreLogic RP Data

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This week there were 2,103 capital city auctions held and the preliminary clearance rate was 76.3 per cent across 1,704 results.
This week’s clearance rate represents a small fall from last week (76.9 per cent) and auction volumes are lower (2,512). Last year, the final auction clearance rate was 70.8 per cent, indicating that conditions across the auction market still remain stronger than at the same time last year; however the gap between the clearance rate is no longer as large as we saw earlier in the year. At the same time last year, 1,569 auctions were held, significantly lower than the number held this week.
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Across Melbourne, 902 auctions were held this week, with a preliminary clearance rate of 76.5 per cent. This week’s clearance rate for Melbourne is lower than last (78.5 per cent), but higher than one year ago (73.3 per cent). Similarly, the number of auctions is lower than last week (1,085) and higher than a year ago (727). This week, there was only one Melbourne sub-region where the clearance rate was above 80 per cent. Outer East Melbourne saw 86.4 per cent of the 59 reported results sell. Following on from this, the second highest clearance rate for the week was across South East Melbourne at 78.5 per cent.
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There were 907 Sydney auctions held this week and across the 702 reported results, 80.3 per cent were successful, pushing the cities clearance rate back above the 80 per cent mark for the first time in 5 weeks, so it will be interesting to see if the final results remain this high. Over the previous week, Sydney’s clearance rate was 78.3 per cent and 76.2 per cent last year. This week’s preliminary clearance rate for the city is 4.1 percentage points higher than one year ago, a much less significant difference than earlier this year when the gap between this year and last year’s clearance rate was consistently around the 10-15 per cent mark. So far, all of the 13 results reported to CoreLogic RP Data for the Outer South West region were sold; however there are still 9 results yet to be captured. The Inner West (86.6 per cent), City and Inner South (85.9 per cent) and North Sydney and Hornsby regions (85.1 per cent) were all strong contributors to Sydney’s strong preliminary result this week.
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This week, Brisbane’s preliminary clearance rate was 60.2 per cent across 93 reported results. There were 130 homes taken to auction across the city this week, compared to 147 last week and 98 at the same time last year. Last week, Brisbane’s clearance rate was 61.1 per cent, while one year ago exactly half of all the reported auctions were sold. So far this week, 23 Gold Coast auction results have been reported, with 15 sales, representing a success rate of 65.2 per cent.
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Adelaide’s preliminary clearance rate is 71.2 per cent this week, falling from 77.4 per cent last week (the strongest result for the city since early April) and higher than one year ago, when 65.6 per cent of auctions recorded a sale.
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The clearance rate for Perth was just 23.1 per cent this week based on preliminary results. Last week 50.0 per cent of Perth auctions were successful, while one year ago the cities clearance rate was 40 per cent.
There were 50 Canberra homes taken to auction this week, with 77.4 per cent selling. Over the previous week, a 74.1 per cent clearance rate was recorded and one year ago 51.2 per cent of reported results were successful.
Across Tasmania 5 auction results have been reported this week, with 3 sales.
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Combined capital city clearance rate remains steady: CoreLogic RP Data's Shana Miller

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The executive producer of Channel 7 TV’s Sunrise program Michael Pell sold at auction on Saturday.
Michael Pell sold the one bedrom apartment at <a href="https://www.realestate.com.au/property-apartment-nsw-surry+hills-120288753" target="_blank">705/437 Bourke Street, Surry Hills </a>for $1,205,000 having bought it five years ago in the up-market Alba, St Margarets development.
It last traded at $787,500.
It sold through agent Yaron Foghel of JT Allen Real Estate.
 Last month he paid around $3.7 million for a property in Woollahra. 
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jchancellor-FAypfDUnLy

Michael Pell sells Alba, St Margarets Surry Hills one bedder

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Woolworths-backed retail properties sold well at last week's Burgess Rawson portfolio auction in Sydney.
The two, large-format Dan Murphy's liquor stores in NSW smashed price expectations on sub-5% yields.
A near-new Dan Murphy's on Victoria Road in Gladesville fetched $11.51 millon on a 4.6% yield.
A new Dan Murphy's on Crawford Street in Queanbeyan, NSW sold for $11.3 million on a yield of 4.7%.
Both properties have fresh 15-year leases with Woolworths plus renewal options to 2060.
Burgess Rawson director Graeme Watson, who forecast the Dan Murphy's liquor stores to sell for as much as $10 million with yields ranging from 5.5% to 6.25%, said he had over 350 enquiries for the two Dan Murphy's.
There were seven bidders on each of the properties.
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Dan Murphy stores sell at sub-5% yields at Burgess Rawson auction

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A six-bedroom, four-bathroom Turramurra sold for $5,105,000, $305,000 over the reserve at weekend auction, a suburb record.
Robert Ward of LJ Hooker Wahroonga said there were five registered bidders.
Three were Asian buyers and two were local, and a local Dutch couple who'd lived in Wahroonga for about 10 years secured the propety.
The <a href="https://www.realestate.com.au/property-house-nsw-turramurra-120201061" target="_blank">40 Ku-Ring-Gai Avenue</a> house was originally built in 1898 on one of the north shore's finest streets and was last renovated in 2009.
The near 2000 square metre holding has a tennis court and a pool. It last sold in 2006 at $2.95 million.
Originally built in 1898 it was first renovated by Slayter &amp; Cosh Architects in 1902. The property was further renovated by Arthur Stanton Cook Architects in 1929 and again by the current vendors in 2009 through Lindsay Little Architects. 
Property Observer gleans the prior record was $5 million.
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Record Turramurra trophy home sale

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New South Wales auction results for week ending Sunday August 9 show a preliminary clearance rate of 78% from 1008 scheduled auctions.
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<div class="num">According to data from realestate.com.au, 477 were sold at auction within NSW, 119 passed in and 173 selling prior.</div>
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<div class="num">Victoria had a clearance rate of 79% from 1057 total scheduled auctions, Queensland a clearance rate of 62% from 141 total scheduled auctions, South Australia 81%, and Western Australia 44%.</div>
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<div class="num">One standout property in Sydney's Bardwell Park was an 986 sqm block complete with brick <a href="https://www.realestate.com.au/property-house-nsw-bardwell+park-120236393" target="_blank">three bedroom home which sold for </a><a href="https://www.realestate.com.au/property-house-nsw-bardwell+park-120236393" target="_blank">$1,775,000</a>.
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<a href="https://www.realestate.com.au/auction-results/" target="_blank">Click here to see the full national breakout</a>.</div>
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Sydney's preliminary clearance rate at 78% Realestate.com.au

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Canberra ranks as Australia's hottest capital city auction market, according to CoreLogic RP Data preliminary national auction clearance rate report.
The national figure sits at 75.7% with the national capital Canberra sitting at 79.2%.
Sydney’s preliminary auction clearance rate was 78.8% across the week, the fourth week in a row where Sydney has recorded a result below 80%.
Across Melbourne, the week’s preliminary clearance rate was recorded at 78.6%, up from a recent low of 75.7% last week.
This week, Adelaide saw a preliminary clearance rate of 71.9%.
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The preliminary clearance rate for Brisbane is 60.6%.
There were 23 Perth auctions this week, with a preliminary clearance rate of 43.8%. 
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Canberra ranks as Australia's hottest capital city auction market

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The 1916 Burwood, Sydney home, Naqueta - which means happy home - fetched $4,005,000 at weekend auction.
Set metres from Burwood's shops and station, the Federation residence at 28 Livingstone Street last traded in 1977. 
The three bedroom home on its 1031 sqm non conservation zoned block sold bullishly through Matthew Nolan at Rich and Oliva.
There were 24 registered bidders with 10 getting a bid in after the opening $2.5 million offer.
 
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 Burwood's 1916 Federation Naqueta tops $4 million - just

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The home at 3 Harrington Ave, Warrawee, a five-bedroom, four bathroom new house, fetched $3.75 million at weekend auction through LJ Hooker Wahroonga agents Robert Ward and Lisa-Marie Cauchois
<a href="https://www.realestateview.com.au/Real-Estate/3-harrington-avenue-warrawee/Property-Details-buy-residential-9053456" target="_blank">It was a Meadowbank Home</a> which saw 350 groups turn up at its open for inspections of the home with 184 square metre living space.
There were eight registered bidders, who were mostly knocked out after bidding opening at $3.5 million, which was the price guidance.
The 934 square metre block last traded at $1.61 million by Meadowcorp Developments in late 2013.
<a href="/images/2015/07/27/Screen%20Shot%202015-07-27%20at%202.38.25%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/27/Screen%20Shot%202015-07-27%20at%202.38.25%20PM.png" alt="">
Meadowbank have been building homes since 1959 <a href="https://www.meadowbankhomes.com.au/content/wherewebuild" target="_blank">mostly on the upper north shore of Sydney</a>. 
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New Meadowbank Home in Warrawee fetches $3.75 million

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Sydney recorded a 79.7% weekend auction clearance rate - a year low.
The weekend result came after the unsettling suggestion Sydney's median house price had hit $1 million.
Domain Group's Australian Property Monitors had tabulated 590 of the 715 expected results, with late results expected to see the final figure even lower.
Last weekend's revised result was 78.3%.
Barring holiday weekends, the clearance rate for Sydney has sat above 80% since the February 7 weekend, when the auction season got underway.
Below 80% results were recorded on the January 31, 2015 and December 20, 2014 weekends. 
The same weekend last year had a 73% success rate across Sydney.
<img src="https://i1.au.reastatic.net/800x600/45ab77ea64bb5f3c0f5269a636e25449208799b85250d66ea295ceac3bef4b9d/image2.jpg" alt="1 &amp; 2/10 Bruce Avenue, Manly" title="1 &amp; 2/10 Bruce Avenue, Manly" data-index="1">
A clearance rate of 79 per cent was recorded this weekend in Melbourne compared to 75 per cent last weekend and 70 per cent this weekend last year, <a href="https://www.reiv.com.au/Property-Research" target="_blank">with 671 auctions reported to the REIV today</a>.
The highest sale of the day was in Sydney where a three level Manly harbourfront duplex (above) sold at $4.55 million to expats through Cherie Humel-Clarke of Clarke &amp; Humel who had just the three registered bidders for 10 Bruce Avenue.
Sydney's cheapest was $338,000 at Regents Park - which had sold pre-renovation at $217,000 in 2012.
Melbourne's dearest reported result was <a href="https://8ferdinandav.com/" target="_blank">8 Ferdinand Avenue, Balwyn North</a> which sold for $3,600,000, a near new home in the prized Balwyn High School zone.
APM's weekend cheapest 
<table style="width: 470px; height: 146px;" border="0" cellspacing="0" cellpadding="5"><tbody>
<tr id="ecxrpMostAffordable_trMostAffordableRow_0">
<td id="ecxrpMostAffordable_tdMostAffordableCity_0" align="left">Sydney</td>
<td id="ecxrpMostAffordable_tdMostAffordableLocation_0" colspan="2">11/8 Edwin St, Regents Park NSW 2143, 1 br Unit, Town &amp; Country</td>
<td id="ecxrpMostAffordable_tdMostAffordableSold_0">$338,000</td>
</tr>
<tr id="ecxrpMostAffordable_trMostAffordableRow_1">
<td id="ecxrpMostAffordable_tdMostAffordableCity_1" align="left">Melbourne</td>
<td id="ecxrpMostAffordable_tdMostAffordableLocation_1" colspan="2">2/17 Abercarn Av, Craigieburn VIC 3064, 3 br Unit, Ray White</td>
<td id="ecxrpMostAffordable_tdMostAffordableSold_1">$280,000</td>
</tr>
<tr id="ecxrpMostAffordable_trMostAffordableRow_2">
<td id="ecxrpMostAffordable_tdMostAffordableCity_2" align="left">Adelaide</td>
<td id="ecxrpMostAffordable_tdMostAffordableLocation_2" colspan="2">23 Lorna Rd, Para Hills SA 5096, 3 br House, Professionals </td>
<td id="ecxrpMostAffordable_tdMostAffordableSold_2">$310,000</td>
</tr>
<tr id="ecxrpMostAffordable_trMostAffordableRow_3">
<td id="ecxrpMostAffordable_tdMostAffordableCity_3" align="left">Brisbane</td>
<td id="ecxrpMostAffordable_tdMostAffordableLocation_3" colspan="2">19 James St, Lowood QLD 4311, 4 br House, LJH </td>
<td id="ecxrpMostAffordable_tdMostAffordableSold_3">$172,500</td>
</tr>
<tr id="ecxrpMostAffordable_trMostAffordableRow_4">
<td id="ecxrpMostAffordable_tdMostAffordableCity_4" align="left">Canberra</td>
<td id="ecxrpMostAffordable_tdMostAffordableLocation_4" colspan="2">5/30 Watson St, Turner ACT 2612, 2 br Unit, McGrath </td>
<td id="ecxrpMostAffordable_tdMostAffordableSold_4">$525,000</td>
</tr>
</tbody></table>
Interestingly Saturday's $1.15 million Sydney auction median was the lowest since June 6, which could most probably reflect that listings across the more traditional pricier suburbs are on hold until the spring sales season.
"The market is creaking under record winter listings," said Domain's senior economist, Dr Andrew Wilson, a more sober assessment than the mid-week exuberance when Fairfax Media gushingly reported the median house price "smash through the magic $1 million mark for the first time."
<a href="/news/sydneys-1-million-house-median-arrives-326-days-early">It was $1,000,616</a>.
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