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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A bevy of bids sees the top offer now at $575,000 in the online auction which could result in the purchase of an off the plan apartment in South Melbourne.
Around 600 plus potential buyers had looked before the online auction began last week on the bidRhino.com online website. There was an opening bid of $540,000.
There were five bids yesterday between two competing parties.
The off the plan auction offering at 603/79 Market Street, South Melbourne is a 61 square metre apartment in the ITUM-developed project. 
The initial bid was sought at $530,000 plus with price indications given as $575,000 plus.
The live auction portal aims to revolutionise the property market as residential properties can be listed and potential buyers or tenants can securely bid with just a digital click. 
The opportunity exists to secure an off the plan property in <a href="https://www.bidrhino.com.au/vic/for-sale/South-Melbourne/603/79-Market-Street/id-1546" target="_blank">The Walker apartment complex</a> positioned in the heart of South Melbourne, which is due for early 2016 completion.
This apartment comprises two bedrooms, one bathroom, and an open terrace, in the 67 apartment building that has an architecturally adapted heritage façade.
<img src="/images/2015/04/24/off-april-24-four.jpg" alt="">
<img src="/images/2015/04/24/off-april-24-five.jpg" alt="">
All registered and approved bidders can bid on the property until the auction is finished in two days. 
When the auction has ended and the reserve price has been met, the highest bidder becomes the successful purchaser. 
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jchancellor-FAypfDUnLy

bidRhino.com South Melbourne auction bid stampede

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Auction clearance rates are consistently tracking in the high 70s and low 80s and in other words, very few properties are failing to sell under the hammer.
Typically, most of the rest are sold within a few days of the auction date.
Property prices are rising in Melbourne and are probably 3% to 5% higher than they were at the beginning of the year. This is off the back of strong growth of between 8% to 10% in 2014, according to one property expert.
Richard Wakelin, founder and director of Wakelin Property Advisory, said there is a palpable sense among many buyers that if they don’t buy soon, the property market will be more expensive in a few months.
In <a href="https://www.youtube.com/watch?v=NgF9Fu5vqJU&amp;feature=youtu.be">a new video released online</a>, Mr Wakelin said times are good for vendors although there is a sense of further capital gains to be made so the impetus to sell right now may be less.
"There was a fair degree of nervousness among buyers in the second half of 2014. Many had bought in to the narrative that the property market had peaked. That there was no more price growth to come. That the Reserve Bank was about to lift interest rates," Mr Wakelin said.
"That doubt has been washed away. 
"There is a definite sense of urgency among buyers. They know that the next move for interest rates is more likely to be down than up."
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RichardWakelin-5qKEwDuXVG

Mid-autumn Melbourne market going strong: Richard Wakelin

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Melbourne's top weekend auction sale was at 39-41 Mayfield Avenue, Malvern which sold through Marshall White at $5,675,000.
Just the two bidders, one of whom went next door to the garden block offering which sold soon after being passed in at $2.6 million.
So an $8.275 million plus deal for <a href="https://www.marshallwhite.com.au/39-43-mayfield-avenue-malvern-237715/" target="_blank">the house, garden and tennis court.</a>
It had last sold in 2012 at $7.13 million.
It was past owners, the Williamson family who amalgamated the large property which James Buyer Advocates described as having a rare country estate feel.
Estate agent Bill Dane sold it in 2003 after 13 year ownership. 
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Mayfield Avenue, Malvern country style estate fetches $8.2 million plus 

<html><body>
There's been a $540,000 opening bid in the online auction which could result in the purchase of an off the plan apartment in South Melbourne.
Around 600 plus potential buyers had looked before the online auction on the bidRhino.com online website.
The off the plan auction offering at 603/79 Market Street, South Melbourne is a <a href="https://thewalkerapartments.com.au/plans/603.jpg" target="_blank" style="line-height: 1.3em;">61 square metre apartment</a> in the ITUM-developed project. 
The initial bid was sought at $530,000 plus.
The live auction portal aims to revolutionise the property market as residential properties can be listed and potential buyers or tenants can securely bid with just a digital click. 
The opportunity exists to secure an off the plan property in <a href="https://www.bidrhino.com.au/vic/for-sale/South-Melbourne/603/79-Market-Street/id-1546">The Walker apartment complex</a> positioned in the heart of South Melbourne, which is due for early 2016 completion.
This apartment comprises two bedrooms, one bathroom, and an open terrace, in the 67 apartment building that has an architecturally adapted heritage façade.
<img src="/images/2015/04/24/off-april-24-four.jpg" alt="">
<img src="/images/2015/04/24/off-april-24-five.jpg" alt="">
All registered and approved bidders can bid on the property until the auction is finished. 
When the auction has ended and the reserve price has been met, the highest bidder becomes the successful purchaser. 
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bidRhino.com South Melbourne offering attracts initial online bid

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Greville Pabst, CEO and director of <a href="https://www.wbpproperty.com/" target="_blank">WBP Property Group</a> and a judge on The Block Triple Threat, answered some of Property Observer's questions on the state of the current state of the market.
<ul>
<li>
How would you describe the auction market? The auction market is highly competitive. Today you can expect anywhere between four and six bidders at an auction in Melbourne, particularly in popular inner suburbs. This has meant strong growth for quality properties. This year we’ve also seen softening in the western suburbs with both auction volumes and clearance rates dropping slightly across the region. Standout areas for performance are the eastern and south-eastern suburbs. Total transaction volumes are down by about 10% when compared with this same time last year, however, as a percentage of overall transactions auctions have increased slightly, accompanied by an increase in clearance rates - Melbourne averaging 76% this year compared with 72% at the same time last year.</li>
</ul>
<ul>
<li>
Is the private treaty market likewise? Transaction volumes demonstrate there is greater confidence buying at auction this year, which may prompted by record low interest rates and strong competition among bidders. But, the key take away is that fewer properties are passing in at auction. At this time the clearance rate for auctions is at 76.3% - this time last year it was at 71.6%.</li>
</ul>
<ul>
<li>
What tips would you give home buyers? Given current levels of competition it’s important buyers don't make hasty decisions. The key to securing well-performing property is research, and, if needed, getting independent expert advice.  It’s also important to consider that whether buying a home or investment property, a sound selection now will have a significant impact on your personal wealth well into the future. Securing a property with high capital growth potential is crucial.</li>
</ul>
<ul>
<li>
What tips would you give investors about the timing of their buying in the 2015 market? When asked this question I always recall the proverb, “'The best time to plant a tree is 20 years ago, the second best time is now.” In truth, there’s no right or wrong time to buy a property. The best time is when you’re financially ready.  The crucial factor with any property investment is the amount of time in the market – that is, unlike with some shares, property growth is realised over time, not overnight. The high cost of transacting property means investment of this kind is typically a long-term commitment. </li>
</ul>
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po-LsXgBTHBmX

Melbourne auction market highly competitive: Q&A with WBP's Greville Pabst

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For those unaccustomed to bidding at auction, buyer's agent Patrick Bright has some advice ahead of this weekend's Sydney Super Saturday.
Firstly, know your budget – and keep it. You also need to prepare for what may happen if you do secure your property.
“Prior to auction, buyers need to ensure the contract has been reviewed by a solicitor, that a pest and building inspection or strata search has been completed and finance pre-approval is in place because if the hammer falls on your bid, then it’s an unconditional sale to you,” said Bright.
“Any variations to the contract of sale must be formally agreed between the vendor’s and buyer’s solicitors before auction day.
Here are seven auction tips from Patrick Bright:
<ol>
<li>
SET YOUR LIMIT ON AN ODD NUMBER When buyers set their limit, they usually choose a round number eg. $600,000, $850,000 or $1.6 million. So if two people happen to have the same limit, which is more likely to happen on a round number, then the first one to get there can buy the property for that price. That’s why it makes sense to set your limit on an odd number. 
</li>
<li>
STICK TO YOUR LIMIT "The most important auction tactic (actually it’s more like a rule) is: set your limit before the auction and NEVER go over it. This is the only tactic that applies in all situations. If you blow your limit, your dream home can become your nightmare liability as you struggle to make mortgage repayments that are more than you’ve budgeted for." 
</li>
<li>
GET THERE EARLY "You should aim to arrive at least 30 minutes before the start of the auction so that you can do a final walk through, register to bid and calm your nerves as best as one can." 
</li>
<li>
CONTROL YOUR EMOTIONS "You need to control your emotions at auction because emotions will cost you money. The number one auction mistake that you will pay for ‘with interest’ is getting carried away and paying too much for the property. That’s a mistake you will end up regretting for a long, long time." 
</li>
<li>
NEVER BID AGAINST YOURSELF "If you’re the highest bidder and everyone else has stopped bidding, never increase your bid, no matter how much pressure the auctioneer or selling agent puts you under. Some people don’t even need to be asked to bid against themselves. Surprisingly this happens all too often when the highest bidder loses track of their bids. They’re so nervous, caught up in the excitement of the bidding process or confused that they raise their own bid. It sounds ridiculous however it must be easy to do as I see it happen quite a lot." 
</li>
<li>
IS IT ON THE MARKET? "The auctioneer is under no obligation to tell you whether the property is on the market or not, however you have the right to ask. Every property has a reserve and the selling agent and auctioneer know what it is. I like to wait till the property has reached the reserve before I bid as there is not a lot of point bidding until you know you’re playing for keeps. Until a property is called on the market the probability that you’re bidding against a dummy bidder is quite high." 
</li>
<li>
GET SOMEONE TO BID ON YOUR BEHALF "Bidding at auctions is not for everyone. If you really want the best shot at owning the property then you need someone bidding for you who is experienced, confident and knows the tricks and games selling agents and auctioneers play. "If you’re at all nervous it’s a good idea to get a trusted friend or family member to bid at auction for you, especially if you’re worried about going over your limit. Tell them your maximum bid and instruct them not to go above it under any circumstance. You will always be better off hiring an ex auctioneer or experienced buyer’s agent to bid for you though." Source: Patrick Bright’s The Insider’s Guide to Saving Thousands at Auction
</li>
</ol>
Patrick Bright is a Sydney-based buyer’s agent who has purchased more than $500 million worth of real estate for clients and is the best-selling author of four Real Estate books in his ‘Insider’s Guide’ series. The 3rd edition of his best-selling book “The Insider’s Guide to Buying Real Estate” reveals the latest trends on how to search for and negotiate the best possible deal for purchasing property. For more information on Patrick Bright or EPS Property Search visit www.epspropertysearch.com.au.
 
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How to win at auction this Super Saturday: Patrick Bright

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Melbourne’s mega Super Saturday passed with a clearance rate of 73%, on the busiest of auction weekends sandwiched between the AFL Grand Final and Derby Day races.
This weekend's success rate compared to 72% last weekend and 73% on the same weekend last year.
There were 1471 auctions reported to the REIV today, with 1075 selling and 396 being passed in, 188 of those on a vendor bid.
The Saturday sales total came in at $933 million. Houses scored better than apartments with 75% to 69%.
The REIV had been expecting about 1,750 auctions across 307 suburbs today and tomorrow, so almost 300 results are yet to be included. There are some 60 auctions scheduled across Victoria on Sunday.
The top auction locations were Richmond (27 auctions), Hawthorn (26 auctions) and Glen Iris (25 auctions).
The REIV reported just the eight Richmond results with five sales topped by a <a href="/expert-insights/buying/melbournes-biggest-ever-weekend-auction-volume-with-an-underbelly-warehouse-thrown-in">$1,477,500 Brighton Street townhouse sale</a>.
The REIV said the last record weekend was 1,517 on the 15 December 2013 weekend.
Some 122 auctions are scheduled next weekend.
After today’s record number of auctions, there have been more than 31,000 Melbourne auctions held so far this year with more than a third of all homes being sold by auction, the REIV chief Enzo Raimondo said.
The suburb with the highest number of auctions so far this year has been Reservoir, with just over 500 auctions held.
The weekend's top sale was when 45 The Strand, Williamstown fetched $3,876,000, according to the REIV, although Property Observer is aware of the $4.45 million sale of 22 Victoria Road, Camberwell where there were three bidders at the Jellis Craig auction. Tavistock, the Henry Kemp-designed 1900 home came on the market at $4 million.
There was also the pre-auction sale of <a href="https://www.realestateview.com.au/Real-Estate/797-orrong-road-toorak/Property-Details-buy-residential-7694388" target="_blank">797 Orrong Road, Toorak</a> which had been listed with $4.5 million plus hopes through Marshall White agents Marcus Chiminello and Nicole French.
But the offering at 22 Walmer Street, Kew was passed in at $5.4 million with no bidders for Selbourne. Ditto 38 Chrystobel Crescent, Hawthorn which James Buyer Advocates reported was passed in at $4.1 with no bidders after two vendor bids.
At Armadale <a href="https://www.realestateview.com.au/Real-Estate/3-myamyn-street-armadale/Property-Details-buy-residential-7694896" target="_blank" style="line-height: 1.3em;">3 Myamyn Street</a> (pictured above) was passed in at a $4.3 million vendor bid, having been listed with reported $4.3 million plus hopes through Marshall White. 
The 1880s trophy home was renovated by architect Nicholas Murray in 2011 utilising its 662 square metre block behind its neo-Gothic facade. There is now $4,975,000 price guidance.
With 1197 results, APM reported a 75.4% Melbourne result which was up on last weekend and last year. 
 
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Steady sales gallop secures 73% success rate on record Melbourne auction weekend: REIV

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A preliminary weighted average clearance rate of 68.5% was recorded this week across capital cities compared to 67.8% last week and 70.4% this time last year.
This result is consistent with the year's trend. The year to date clearance rate for capital cities was 68.3% before this week.
In Sydney a preliminary clearance rate of 75.5%  was recorded compared to 71.9% last week and 79.5% last year. Despite the clearance rate not being higher than a year ago the auction market has improved with more homes being sold.
In Melbourne there was a preliminary clearance rate of 68% recorded compared to 70% last week and 68.6% this time last year. Concerns the auction market was beginning to weaken have not been added to this week.
Next week will prove an interesting test, with a record of around 1800 auctions scheduled.
In Brisbane a preliminary clearance rate of 50.5% was recorded compared to 48.8% last week.
Adelaide recorded a clearance rate of 50%  compared to 55.8% last week.
In Canberra a clearance rate of 50% was recorded.
In Perth a clearance rate of 60% was recorded.
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Capital cities land on trend: RP Data's national auction wrap

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Underquoting is a hugely tricky topic for many in property, with the “quote [or price] it low, watch it go” mantra said to be the modus operandi of many in the real estate selling business, especially when it comes to auction sales.
Recently, <a href="/news/online-petition-for-mandatory-reserve-price-publishing-launched">EPS Property Search’s Patrick Bright began a petition against underquoting</a>, and encouraging the consideration of early publishing of the reserve price for properties heading to auction. Property Observer covered this petition upon its launch, and <a href="/news/should-auction-reserve-prices-be-published">discussed it with him prior to its inception</a>.
<blockquote>
SQM Research’s Louis Christopher has also expressed his dislike of the practice of underquoting and is vocally backing Bright’s petition.
</blockquote>
Property Observer recently attended an auction in Sydney where there was around a $200,000 discrepancy between reserve price and the price guide provided by the real estate agent. The property sold at auction just above the reserve, and we have clear reason to believe that the vendors would never have considered an offer around the price guide provided. Certainly, there may have been buyers that were unable to afford this price and that may have spent money on inspections and conveyancing to prepare for the auction, let alone time. As a buyer's agent, Bright says that this is all too common and that he sees underquoting at the majority of auctions he attends.
SQM Research’s Louis Christopher has also expressed his dislike of the practice of underquoting and is vocally backing Bright’s petition.
"I am personally sick to death of underquoting in real estate.  It wastes time, money and breaks people’s hearts once they know they have been deceived. Ultimately it is damaging to the property sector and all those who participate in it,” said Christopher in his recent newsletter.
"One thing Patrick and I share in common is that we have a very strong belief in property market transparency and ensuring people don’t get ripped off in property transactions. Recently, Patrick has gone so far as to get a petition going to make it compulsory to advertise auction reserve prices to stamp out underquoting and dummy bidding,” he said, noting he 100% agrees with the objective, urging others to <a href="https://www.change.org/petitions/the-honourable-stuart-ayres-mp-nsw-government-make-it-compulsory-to-advertise-auction-reserve-prices-to-stamp-out-underquoting-and-dummy-bidding%20%20" target="_blank">sign the petition</a>.
However, Christopher also expressed his dislike at media ignoring the petition.
"Sadly, I can tell you now there are some dark forces out there who don’t want to see this happen. Indeed, Patrick has recently told me of some media outlets who won’t give this petition coverage, even after promises they would! No doubt they are worried they may lose advertising dollars due to these dark forces,” he wrote.
He said he had a message for those outlets: "Please show a bit of spine on this issue and give it the coverage it deserves.”
He told Property Observer that despite the pain some interests may feel in the short term, price transparency will create overall benefits across the market, and it should be given a run and prominence.
Recently, mainstream media outlets went gangbusters writing about Queensland’s potential change to ban price guides from auctions – something<a href="/news/qld/dark-ages-descending-on-queensland-as-auction-price-guide-ban-defies-common-sense-john-mcgrath"> Property Observer also wrote about</a> – and he noted that it is startling to see the contrast between some experts’ exposure and others.
"[Underquoting] does come out in a rising market,” Christopher explained. “Markets can move quickly, but what Patrick has put forward is that the reserve price isn’t provided until a week out.”
Discussing the Queensland potential price guide ban, he noted that he sat on the fence, saying there were many pros and cons. However, he noted that no guide is better than a phoney guide.
<blockquote>
"They’re big businesses protecting their bottom line, and it’s completely their right to do that,” Bright said.
</blockquote>
While neither would disclose which media outlets said they would cover the petition and since changed their minds, Property Observer notes that online there have been stories from Australian Property Investor magazine. Patrick Bright confirmed that API had been in support of sharing news of the petition.
Bright said that he doesn’t want to criticise individuals as he is sure there are powers above them calling the shots.
"They’re big businesses protecting their bottom line, and it’s completely their right to do that,” he said.
He also said that he is getting a lot of support when he personally speaks to sales agents, but finds that many are concerned of ridicule from their peers if they support the petition.
Disclosure: Jennifer Duke has signed the petition for reserve prices to be published, as well as <a href="/news/qld/letter-from-the-editor-more-information-not-less-please-queensland">a petition opposing the Queensland price guide ban</a>.
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