Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Melbourne

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The room type that your property has will determine how much it costs per square metre, according to Secret Agent's latest report.
This section of the index breaks down properties into individual rooms to determine how much value each adds to the house.
Factors that had a significant impact on sale prices for both terraces and townhouses include location (suburb), time of sale, number of car spots and whether the house had a cellar.
Table 7 shows the expected price per square metre by room type, controlling for the abovementioned factors.
<a href="https://www.propertyobserver.com.au/images/2017/06/Table%207.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/Table%207.jpg" alt="">
Note that the price per square metre for indoor space in both terraces and townhouses are lower than the first part of the study, which was a simple average analysis.
Overall, indoor space in terraces is worth about $2,600/m2 more than in townhouses on average, while outdoor space attracts a $450/m2 premium for townhouses over terraces.
Bedroom space was most valuable for terraces in our sample, at about $14,700/m2, just ahead of bathrooms ($14,000/m2).
Extra living space added the least value at $6,900/m2.
However, this does not mean that replacing living area with extra bedrooms is always a good idea: a functional balance is required.
Terrace homes with too many bedrooms and not enough bathrooms were expected to sell for a lot less than more balanced homes: $74,000 less if there were two more bedrooms than bathrooms, and $205,000 less with three more bedrooms than bathrooms.
This is compared to homes with one more bedroom than bathroom.
For townhouses, bedroom space ($6,200/m2) was worth significantly less on average than for terrace houses.
This is only slightly higher than expected value of living area ($5,900/ m2).
On the other hand, bathrooms, including ensuite and powder rooms, had the biggest impact on expected sale price, valued at $19,400/m2 on average, which is about $4,000/m2 more than for terraces.
The average total bathroom area for townhouses was 10.5m2, larger than the 8.3m2 average for terraces.
It is likely that bathrooms are more expensive per square metre for townhouses than terraces because these are nearly always new and therefore made of higher quality fittings and fixtures.
For developers, the data seems to suggest that buyers are looking for townhouses with a good balance between bedrooms and bathrooms, so adding a second bathroom to a two bed one bath townhouse is expected to yield the greatest returns.
Dining and kitchen areas added the least value in townhouses.
This could be because most kitchens in townhouses are of similar size and quality, meaning buyers take these as a given and do not value extra space as highly.
Other considerations
• As part of their study, Secret Agent looked at just about every conceivable room arrangement (central bathroom, living room, kitchen/dining, bedrooms on one end, bathrooms on both ends, etc.), and found that when it comes to layout, this did not have any significant impact on the average sale price in our sample. Whilst there is no doubt different buyers will prefer certain layouts, on average our data suggests that there is no dominant layout commanding a premium.
• The number of levels (ground, first, second) had no impact on average sale price of either terraces or townhouses.
• For terraces, whether the property was single or double- fronted made a difference, with double-fronted homes expected to sell for more.
For more information from Secret Agent, <a href="https://secretagent.com.au/" target="_blank">click here</a>.
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j.ballantyne1990-6AQqhLzZaK

How extra bedrooms add to how much your property is worth: Secret Agent

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The 1860s Bourke Street terrace that previously homed Melbourne institution Kozminsky jewellers is up for lease.
It's been almost half a century since the popular jewellers closed its doors at the terrace at <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-502299238" target="_blank">421 Bourke Street</a>.
Colliers International retail agents Cam Taranto and Jarrod Herscu are handling the international leasing campaign.
Herscu said 421 Bourke Street presented “an invaluable opportunity for a new tenant to take advantage of the corner location of a Melbourne CBD icon”.
“This elegant building has a long association with the livestock and real estate industry in Melbourne's early days and the banking boom in its later days,” he said.
“It now rings the successful association of Kozminsky, who operated in the building for more than 40 years.
“We have no doubt the new tenant will be able to enjoy as much success as its predecessor.”
“With retail vacancies within the Melbourne CBD core tightening up year-on-year and currently sitting at about 2.4 per cent, we are seeing further expansion and rental growth through all other sectors of the CBD retail scene,” Herscu said.
Taranto is expecting a large enquiry driven by hospitality operators, which comprised about 80 per cent of deals in 2016.
“We are seeing super hospitality groups, both national and international, including Urban Purveyor Group, PTT Family, Dixon Hospitality, The Publican Group and Seagrass Boutique Hospitality Group, all looking to expand rapidly and even looking to acquire other businesses to gain market share,” he said.
“This was the case with Urban Purveyor Group acquiring Neil Perry's Rockpool and Dixon Hospitality acquiring The Keystone Group in late 2016,” he said.
Colliers International will also be targeting the beauty industry in its campaign, which Mr Herscu said was one of the strongest-performing segments in the market, as well as jewellery, fashion and accessories.
“Along Bourke Street Mall, we are seeing a huge influx of enquiry from international brands, including Apple, Google, Victoria's Secret, Kit and Ace, Suitsupply, Rag &amp; Bone, West Elm and COS, all looking for their first Melbourne CBD flagship or additional space,” Mr Herscu said.
“In addition, due to low vacancy rates, a growing CBD population and strong retail-trading conditions, we are seeing record rentals in the Melbourne CBD.
“The latest deal is a new flagship joint venture between international brands Nike and Footlocker (Hoops), which are paying approximately $10,000 per square metre, a new rental benchmark for a non-corner site in the mall.”
Taranto said the tightly held vacancies and continued population growth had presented opportunity for developers to expand the retail footprint within the Melbourne CBD.
“Two projects that have been in the pipeline for some years, 405 Bourke Street and 150 Queen Street, will include a new retail arcade, offices and apartments sitting on either side of the Kozminsky building and on the outskirts of Bourke Street Mall,” he said.
“Within the northern part of the Melbourne CBD, multi-storey residential developments are shaping a new Melbourne lifestyle. It is slowly becoming the most densely populated pocket in Australia, with more than 3,971 new apartments currently under construction.”
Taranto said that as the retail landscape changed, tenants were looking for spaces that offered long tenor and the opportunity to create their own identities through securing heritage-facade buildings.
“H&amp;M did this on a much larger scale when it secured the GPO, which is now considered a landmark location in the Melbourne CBD,” he said.
“Along Collins Street, this is very common among the luxury brands, such as Chanel, Hermes, Louis Vuitton, Longchamp and Prada, which all have taken long leases on heritage-facade buildings to establish their unique brands.”
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Melbourne's Kozminsky Jewellers space available after closing its doors after 40 years

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Melbourne’s North East region achieved the highest auction clearance rate, according to CoreLogic’s latest report.
The property data firm says that out of the 76 auctions known to CoreLogic 85.5 percent were cleared.
This is followed by Outer East with 82 percent and the North West with 79.5 percent.
<a href="https://www.propertyobserver.com.au/images/2017/02/20/Screen%20Shot%202017-02-20%20at%2011.13.20%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/20/Screen%20Shot%202017-02-20%20at%2011.13.20%20am.jpg" alt="">
The Mornington Peninsula region had the lowest clearance rate with only 67.7 percent of its 34 auctions were cleared.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-preston-124563850" target="_blank">55 David Street</a>, Preston (above) was sold for $913,250.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-epping-124523882" target="_blank">30 Numurkah Common</a>, Epping (below) was sold for $388,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/20/30%20Numurkah%20Common.jpg" alt="">
</body></html>

Melbourne's North East region hits 85 percent auction clearance rate: CoreLogic

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The average time on the market for new land in Melbourne’s growth corridors has dropped below 60 days as the current upswing continues to gather pace, according to research by property group Oliver Hume.
The research, compiled from analysing trends at nearly 200 projects throughout Victoria, shows the average time on market for land in Melbourne in the final quarter (three months to end of December) of 2016 was just 1.9 months, the lowest ever recorded.
Demand for land is also pushing prices higher and making lots smaller, with the average price per sqm of land in the city’s growth corridors now exceeding $570/sqm in the December quarter 2016.
The median price of land reached $239,000 in the final quarter of 2016, up over 8% from $221,000 in the September quarter 2016. 
Over the same period the median lot size declined from 427sqm to 416sqm.
With the exception of the first quarter of 2015, the average time on market has now fallen or remained steady in every quarter since the third quarter of 2013, after peaking in the current cycle at 6.6 at the end of 2012.
The statistic measures the period from when a piece of land is released for sale by a developer until it is contracted by a purchaser.
Oliver Hume Research Manager George Bougias said affordability, record population growth and continued low interest rates remained the key drivers of demand.
“Despite the increases we have seen over recent years Melbourne is still below many other regions in Australia,” he said.
“With buyers having similar access to low interest rates, an improving economic and jobs outlook in Victoria and Melbourne’s relative affordability is ensuring the city keeps coming up the winner.”
Mr Bougias said Victoria’s population growth was a key underlying factor in the demand for land.
Figures recently-released by the Australian Bureau of Statistics show that Victoria’s population is now larger than ever before and looks set to continue growing strongly.
In the year to 30 June 2016, the state’s population grew by over 123,000 people (2.1%).
Victoria recorded the fastest population growth of all states and territories, adding more people than any other jurisdiction.
This robust population growth is expected to continue with Victoria’s population projected to hit 7 million by 2024.
Mr Bougias said the market had now spent essentially three years below the 3-5 months that Oliver Hume considers ‘equilibrium’, where supply is largely meeting demand.
Oliver Hume Director Paul Ciprian said while competition had kept prices in check from 2012 to 2015, the last 12 months has seen demand impact prices and average size.
“With prices and sizes going in different direction we have seen a sharp kick in the average price per square metre, up over 11% in 12 months and over 23% in the last two years,” he said.
“These price increases may moderate demand in the medium term but we do not see any macro issues that will impact the trend in the short term,” he said.
“So we expect prices to continue rising throughout 2017.”
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Melbourne building block land boom gathers pace

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Melbourne’s CBD retail core has continued its overall downward trend recording a vacancy rate of just 3.3 percent in 2016 according to research from Savills.
Research from Savills found a moderate rise of 0.7 percent on the previous year’s figure but well below the 5.2 percent, five year average.
The survey of CBD Core &amp; Swanston Street Precinct found there were just 39 vacancies among the 1181 shops which are dominated by Clothing, Footwear &amp; Personal Accessories stores (492) and Cafes, Restaurants &amp; Takeaway Food Services (281).
The number of shops grew from 1132 to 1181 over the 12 months, largely due to the opening of St Collins Lane.
Notable debutants to CBD trading included Debenhams which will open its first Australian flagship store (4000 sqm) at St Collins Lane in September, joining  L'Agent, Kooples and Zadig &amp; Voltaire.
Meanwhile Sandro and Maje, Folli Follie and REISS, Coach, TAG Heuer and Furla have also opened up to trade at the refurbished city centre.
Elsewhere US based footwear retailer, Foot Locker, leased a prime 600 square metre Bourke Street Mall premises, Michael Hill Jewellers leased 69sqm on the corner of Bourke and Swanston streets.
Viva Hair leased 142sqm at 147-149 Russell Street, Connect Hearing leased 124sqm at Centrepoint, and  Sushi Hub continued its CBD expansion with a 26 Elizabeth Street lease (all Savills leases).
The data which paints a relatively positive picture of CBD retailing reflects growing CBD and worker populations,
This has driven a significant rise in service and hospitality based retail in recent years, as well as recent ABS data indicating growth in Victorian retail trade and a household move away from saving to spending.
ABS retail trade (seasonally adjusted) data revealed Victorian retail trade grew by 4.12 per cent in 2016, above the national average growth of 3.45 per cent.
Meanwhile the household savings ratio has been in +6 percent territory over the past year - its lowest level since the GFC - indicating households budgets have begun a shift away from saving to spending.
Monica Mondkar, Savills’ associate director research and consultancy, said Melbourne’s CBD core retail had weathered an apparent downturn in retailing surprisingly well given static wages growth and moderate levels of consumer confidence.
"Melbourne’s CBD has undoubtedly been a good performer in recent times with vacancy characteristic of periods of stronger economic growth and certainty," she said.
"But what may seem outwardly as anomalous growth has some key underpinnings that more than adequately explain its status.
"There has been an apartment boom in Melbourne over several years which has significantly increased CBD and environs residential populations,
"Meanwhile latterly a stronger office leasing market has also increased white collar employment and hence worker population, and of course a resurgence in student numbers has also been important.
"When you consider that the dominant CBD retail sectors are hospitality, food, and service sector related, it’s clear that population growth factors have been the key driver of CBD retail."
Ms Mondkar said the continued influx of high profile global fashion brands and the attraction of modern retail hubs was also attractive to both tourists and Melbourne’s suburban population.
"The number of new and refurbished retail precincts and the continuation of the influx of high profile global brands has no doubt accounted for a significant part of the increase in spending, attracting thousands of new shoppers to the CBD," she said.
"With the resident population alone expected to grow by 14 per cent by 2020 we are going to see the vacancy rate remain low over the medium term."
 
<table class="GridTable7ColorfulAccent1" style="width: 468px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="155">
CBD Core Tenancy Mix 
</td>
<td valign="top" width="86">
       2012
</td>
<td valign="top" width="86">
       2016
</td>
<td valign="top" width="79">
2017
</td>
<td valign="top" width="63">
5 year change
</td>
</tr>
<tr>
<td valign="top" width="155">
Cafes, Restaurants &amp; Takeaway Food Services
</td>
<td valign="top" width="86">
       251
</td>
<td valign="top" width="86">
         281
</td>
<td valign="top" width="79">
282
</td>
<td valign="top" width="63">
   +12.4%
</td>
</tr>
<tr>
<td valign="top" width="155">
Clothing, Footwear &amp; Personal Accessory
</td>
<td valign="top" width="86">
       420
</td>
<td valign="top" width="86">
         466
</td>
<td valign="top" width="79">
492
</td>
<td valign="top" width="63">
+17.1%
</td>
</tr>
<tr>
<td valign="top" width="155">
Department Stores
</td>
<td valign="top" width="86">
          7
</td>
<td valign="top" width="86">
             7
</td>
<td valign="top" width="79">
7
</td>
<td valign="top" width="63">
       -
</td>
</tr>
<tr>
<td valign="top" width="155">
Food 
</td>
<td valign="top" width="86">
         34
</td>
<td valign="top" width="86">
           48
</td>
<td valign="top" width="79">
48
</td>
<td valign="top" width="63">
   +41.2%
</td>
</tr>
<tr>
<td valign="top" width="155">
Household Goods
</td>
<td valign="top" width="86">
         58
</td>
<td valign="top" width="86">
           51
</td>
<td valign="top" width="79">
51
</td>
<td valign="top" width="63">
   -12.1%
</td>
</tr>
<tr>
<td valign="top" width="155">
Services
</td>
<td valign="top" width="86">
       130
</td>
<td valign="top" width="86">
         141
</td>
<td valign="top" width="79">
151
</td>
<td valign="top" width="63">
   +16.2%
</td>
</tr>
<tr>
<td valign="top" width="155">
Other
</td>
<td valign="top" width="86">
       102
</td>
<td valign="top" width="86">
         108
</td>
<td valign="top" width="79">
112
</td>
<td valign="top" width="63">
   +9.8%
</td>
</tr>
<tr>
<td valign="top" width="155">
Vacant 
</td>
<td valign="top" width="86">
         75
</td>
<td valign="top" width="86">
           29
</td>
<td valign="top" width="79">
39
</td>
<td valign="top" width="63">
   -48%
</td>
</tr>
<tr>
<td valign="top" width="155">
Vacancy Factor
</td>
<td valign="top" width="86">
         7%
</td>
<td valign="top" width="86">
          2.6%
</td>
<td valign="top" width="79">
3.3%
</td>
<td valign="top" width="63">
   -3.7%
</td>
</tr>
</tbody></table>
Source: Savills Research 
Ms Mondkar said the demographic change - which reflected a cultural shift with Melburnians, once wedded firmly to the suburban quarter acre block.
"It is now showing a definite penchant for inner-city apartments, fashion, education sector growth and tourism would continue to bolster the coffers of CBD retailers," she said.
"Apartment living is a development which is here to stay and that will continue to be a key driver in the make-up of CBD retail.
"At the same time Melbourne remains the fashion capital and is also firmly on the radar with tourist shoppers and students and those factors will continue to drive the CBD market for the foreseeable future.".   
The survey found little movement in rents which now range between $1500 a square metre, for CBD shopping centre space, to circa $11,000 a square metre for prime space on Bourke Street Mall.  
<table class="GridTable7ColorfulAccent1" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="220">
CBD Retail Rents (Gross $sqm) 
Shop sizes: 50 -150 sqm
</td>
<td valign="top" width="92">
       Low 
</td>
<td valign="top" width="156">
      High
</td>
</tr>
<tr>
<td valign="top" width="220">
Laneways/Arcades
</td>
<td valign="top" width="92">
       1800
</td>
<td valign="top" width="156">
       3500
</td>
</tr>
<tr>
<td valign="top" width="220">
CBD Shopping Centres
</td>
<td valign="top" width="92">
       1500
</td>
<td valign="top" width="156">
       3000
</td>
</tr>
<tr>
<td valign="top" width="220">
 CBD core retail shopfronts  
(excluding Bourke St Mall)
</td>
<td valign="top" width="92">
       3000
</td>
<td valign="top" width="156">
       6000
</td>
</tr>
<tr>
<td valign="top" width="220">
Bourke St Mall
</td>
<td valign="top" width="92">
       9000
</td>
<td valign="top" width="156">
       11,000
</td>
</tr>
</tbody></table>
Source: Savills Research Two levels, numbers seven and nine, are currently up for lease through Savills on the south eastern corner of Queen and Collins Streets in <a href="https://commercialpropertysearch.savills.com.au/7cb45e7e-52c7-e611-80c4-005056816dfc/Lease/Melbourne/379-Collins-Street" target="_blank">379 Collins Street</a> (pictured above).
A combined total area of 2954.10sqm is available at a cost of $116.00 per sqm per annum.
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Retail vacancies down 37 percent on post GFC high

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The latest research from Melbourne Cityscope shows that commercial property sales in the CBD have risen in both number and total sales value, according to CoreLogic’s Cityscope.
The property data firm says that for the three months to December 2016 there were 81 sales for a total of $1.170 billion.
For the quarter to September 2016, there were 75 sales at a total value of $1.05 billion, compared to 64 sales at a total value of $504.6 million for the previous quarter.
The yearly figures have fallen considerably, however, with 297 sales at a total value of $3.525 billion for the twelve months to December 2016, compared to 336 sales at a total value of $5.905 billion for the previous year.
The table below shows sales recorded for the past eight updates of Melbourne Cityscope:
<a href="https://www.propertyobserver.com.au/images/2017/01/25/Melbourne-1.jpeg">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/25/Melbourne-1.jpeg" alt="">
Notable sales listed in the December 2016 update of Melbourne Cityscope include:
<ul>
<li>376 -390 Collins Street, Melbourne, the 34-storey ANZ World Headquarters including three historic buildings with a building area of 30,000 sqm total was bought for $274.5 million through CBRE Melbourne and Knight Frank Melbourne;</li>
<li>St Collins Lane, at 260 Collins Street, Melbourne, a boutique retail precinct of four levels of retail space with over 60 stores, which was bought for $247 million through JLL Melbourne and</li>
<li>114 William Street, Melbourne, an office building of 23 storeys, two basements (with a 106-space car park) and a paved pedestrian plaza, which was bought for $161.5 million through Colliers International Melbourne.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/01/25/Melbourne-2.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/25/Melbourne-2.jpeg" alt="">
Properties listed as being for sale in the December 2016 update of Melbourne Cityscope include:
<ul>
<li>Askew House, 364-372 Lonsdale Street, Melbourne, a six-storey concrete office building with three ground-floor showrooms, built 1937 and available through Colliers International and Hocking Stuart Commercial;</li>
<li>Bourke House, 179 Bourke Street, Melbourne, a six-storey concrete building with five street-level shops available through Gross Waddell and CBRE Melbourne and</li>
<li>9-27 Downie Street, Melbourne, a two-storey brick building consisting of first-floor offices above five double garages, available through Colliers International.</li>
</ul>
Leasing opportunities listed in December 2016 update of Melbourne Cityscope include:
<ul>
<li>440 Elizabeth Street, Melbourne, an 11-storey office building with five showrooms to Elizabeth Street, which has office space of 1,047 to 2,711 sqm for lease through Teska Carson;</li>
<li>333 Exhibition Street, Melbourne, an 18-storey building with a 705-space car park, which has office space of up to 6,003 sqm for lease through Colliers International; and</li>
<li>15W, at 15 William Street, Melbourne, an A-grade 20-level office building with a two-storey retail and car park extension for 300 car spaces, which has office space of 490 to 12,000 sqm for lease through CBRE Melbourne and JLL Melbourne.</li>
</ul>
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Melbourne commercial sales rises in both listings and sales value: Cityscope

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Travancore is the most affordable apartment in Inner Melbourne based on sqm size, according to Secret Agent’s latest report.
Table 8 provides an update to our price per square metre index for apartments, accounting for internal habitable space and excluding any outdoor area.
<a href="https://www.propertyobserver.com.au/images/2017/06/Table%208.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/Table%208.jpg" alt="">
The full methodology is outlined in Secret Agent’s Apartments Price Per Square Metre Report from June 2016.
Tables 9 and 10 on the following page highlight the most and least affordable areas for apartments based on their average price per square metre and average sale price.
For apartments, the discrepancies between average prices and average price per square metre seem less pronounced.
Travancore, Kensington and Flemington (all neighbouring suburbs in the inner West) appear on the most affordable apartment list for both measurements.
<a href="https://www.propertyobserver.com.au/images/2017/06/Table%209.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/Table%209.jpg" alt="">
All suburbs on the list are either located in the inner West or inner North, and many of these offer good alternatives to the more prestigious suburbs located in those regions.
For example, Kensington vs North Melbourne, which in 2016 was on average $1,400/m2 cheaper; or Brunswick East compared to Fitzroy North, where the difference was about $1,600/m2.
Although the inner South is one of the smaller regions in our sample (in terms of number of suburbs), it dominates the list of least affordable suburbs, with Albert Park, Middle Park and Port Melbourne ranking high based on both average sale price and price per square metre.
<a href="https://www.propertyobserver.com.au/images/2017/06/Table%2010.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/Table%2010.jpg" alt="">
Albert Park was the most expensive on both metrics, more than double the price of Travancore apartments both on average and per square metre.
East Melbourne is also expensive no matter how you look at it, setting buyers back $12,000/m2 on average.
Docklands, while seemingly expensive by average prices is in fact right in the middle when factoring in apartment size, costing on average $8,550/m2.
Property Observer found this three bedroom apartment currently on the market in Travancore at <a href="https://www.realestate.com.au/property-apartment-vic-travancore-124602078" target="_blank">330/68 Mount Alexander Road</a> (pictured above). It last traded for $740,000 in 2010.
A two bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-vic-travancore-124684486" target="_blank">346/38 Mount Alexander Road</a> is on the market for $395,000, having last sold for $402,500 in 2008 (below).
<img src="https://www.urban.com.au/images/2017/02/15/Screen%20Shot%202017-02-15%20at%208.47.47%20AM.png" alt="">
A two bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-vic-travancore-124451922" target="_blank">18 Mt Alexander Road</a> is on the market with expectations around $429,000 (pictured below).
<img src="https://www.urban.com.au/images/2017/02/15/Screen%20Shot%202017-02-15%20at%208.51.09%20AM.png" alt="" width="601" height="374">
A two bedroom unit at <a href="https://www.realestate.com.au/sold/property-apartment-vic-travancore-123667790" target="_blank">17/190 Mount Alexander Road</a>, Travancore (below) sold for $445,000, going back in price from its $460,000 sale in 2009.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/15/17_190%20Mount%20Alexander%20Road.jpg" alt="" style="font-size: 12.16px;">
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/sold/property-apartment-vic-travancore-119733747" target="_blank">2421/18 Mount Alexander Road</a> (below) was sold for $412,800, also going backwards from its last sale price of $522,500 in 2010.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/15/2421_18%20Mount%20Alexander%20Road.jpg" alt="">
For more information from Secret Agent, <a href="https://secretagent.com.au/" target="_blank">click here</a>.
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Travancore most affordable Inner Melbourne apartment based on sqm size: Secret Agent

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Services firm Accenture has signed a ten year lease of two floors at the T&amp;G Building at 161 Collins Street, Melbourne.
The lease is for a combined floor space of nearly 8,000 square metres or 30 percent of available, leasable space.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/14/162504%20M01_Collins%20entry.RGB.jpg" alt="" style="font-size: 12.16px;">
Matthew Knight, head of Pembroke Real Estate in Australia, said the signing is further endorsement for this transformative project.
“Pembroke is working to bring the T&amp;G Building into the 21st century, by delivering world-class, flexible workspaces within a heritage building.
“Accenture is an international brand and already a significant tenant at a Pembroke property in Washington, D.C.  
"We are delighted to not just be welcoming them to the T&amp;G Building, but to be further building on this global relationship.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/14/m01_CollinsEntry_Pembroke%20161%20Collins%20Melb.jpg" alt="">
Refurbishment works at the T&amp;G Building began January 2017.
Contractor Built is renovating the Collins Street and Ramsden Place entrances.
Renovations also include an atrium, upgrades to the office floors and end-of-trip facilities.
The move to the T&amp;G Building’ rolls Accenture’s existing tenancies into one.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/14/m02_Pembroke%20161%20Collins%20Melb%20090SidesExtended-Dusk.jpg" alt="">
Accenture will locate relocate 2017, with refurbishments due early 2018.
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Pembroke Real Estate secures Accenture for 8000sqm in Melbourne's T&G Building

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Houses in Melbourne wait the shortest amount of time, according to CoreLogic’s latest report.
The property data firm says that on average houses in Melbourne can stay on the market for 46 days before being sold.
<a href="https://www.propertyobserver.com.au/images/2017/02/13/Screen%20Shot%202017-02-13%20at%201.39.28%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/13/Screen%20Shot%202017-02-13%20at%201.39.28%20pm.jpg" alt="">
However units in Melbourne can stay up to 62 days compared to 43 days for units in Hobart.
Darwin houses and units can stay for a long time with houses on sale for 102 days while units can take up to 118 days to sell.
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Melbourne houses can take up to 46 days to sell: CoreLogic

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In Melbourne, Australia’s largest auction market, 75 percent of the 345 reported auctions sold over the weekend, according to CoreLogic’s latest report.
The property data firm says that there were 542 auctions held across the city this week, up from 261 last week when the final auction clearance rate was 77.7 percent.
However it is lower than the 556 auctions held one year ago, with a higher clearance rate (74.4 percent).
<a href="https://www.propertyobserver.com.au/images/2017/02/13/Screen%20Shot%202017-02-13%20at%2010.02.08%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/13/Screen%20Shot%202017-02-13%20at%2010.02.08%20am.jpg" alt="">
The Inner region of Melbourne had the highest number of auctions this week (94), with a preliminary clearance rate of 72.6 percent.
Meanwhile, the strongest clearance rate was recorded across the North East region (89.2 percent) and Inner East region (82.1 percent).
In Sydney, 633 auctions were held this week, with the city seeing a significant increase in volume over the week, up from the 259 reported last week.
The preliminary clearance rate of 84.8 percent is up from 72.3 percent last week and also higher than this time last year, when a clearance rate of 78.1 percent was recorded across 513 auctions.
<a href="https://www.propertyobserver.com.au/images/2017/02/13/Screen%20Shot%202017-02-13%20at%2010.02.14%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/13/Screen%20Shot%202017-02-13%20at%2010.02.14%20am.jpg" alt="">
Looking at the sub-regions of Sydney, the Eastern Suburbs region recorded the strongest clearance rate of 96.2 percent across 36 auctions.
Meanwhile the North Sydney and Hornsby region had the highest volume of auctions (85).
Brisbane was host to 129 auctions this week and so far 70 results have been reported, with 65.7 percent sold.
Last week, auction volumes across the city were much lower with 102 auctions held across the city and a 57.1 percent clearance rate recorded.
<a href="https://www.propertyobserver.com.au/images/2017/02/13/Screen%20Shot%202017-02-13%20at%2010.02.21%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/13/Screen%20Shot%202017-02-13%20at%2010.02.21%20am.jpg" alt="">
The number of homes taken to auction this week fell across the Gold Coast with 47 properties up for sale this week.
Of the 17 results reported, 52.9 percent were successful.
Adelaide recorded a clearance rate of 72.3 percent across 87 auctions this week, up from 60.8 percent across 144 auctions last week.
<a href="https://www.propertyobserver.com.au/images/2017/02/13/Screen%20Shot%202017-02-13%20at%2010.02.28%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/13/Screen%20Shot%202017-02-13%20at%2010.02.28%20am.jpg" alt="">
At the same time last year, 91 homes were taken to auction, with 75.0 percent recording a successful result.
In Perth, 74 auctions took place this week, with 16 results reported so far.
Perth’s preliminary clearance rate of 37.5 percent across these 16 results is lower than last week’s result (45.8 percent), although higher than the clearance rate from one year ago (31.6 percent).
Canberra’s preliminary auction clearance rate of 80.0 percent this week is higher than last week, when the final auction clearance rate was 70.5 percent and higher than the 71.2 percent recorded last year.
Of the 13 Tasmanian auction results reported so far this week, 2 sales have been recorded.
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