Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

Property market

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Melbourne ranks as the strongest auction market around the capital city markets recording the highest preliminary clearance rate at 79.4 per cent.
There were the 676 reported auctions sold, CoreLogic calculated.
There were 816 Melbourne properties taken to auction across the city, up from 756 last week when the final clearance rate was recorded at 74.9 per cent.
Over the same week last year, 572 Melbourne auctions were held and a clearance rate of 71.6 per cent was recorded.
The strongest success rate was in Melbourne's North West region, where 90.1 per cent of the 71 reported auctions were successful.
Melbourne's top sale was a Balwyn North offering that sold for $2.668 million as a development site.
Located at <a href="https://www.realestate.com.au/sold/property-house-vic-balwyn+north-125761814" target="_blank">1120 Burke Road</a>, (above) the 993 sqm property with three bedroom 1950s home is surrounded by apartments and townhouses complexes.
The property, which last sold in 1980 for $65,000, was offered through Noel Jones agents David Fileccia and Greg Bowring.
Melbourne's highest home sale was a <a href="https://www.realestate.com.au/sold/property-house-vic-fitzroy-125806890" target="_blank">six-bedroom Georgian-style home</a> at 201 Gore Street, Fitzroy that Domain reported sold to an upsizing family from Northcote for $2.59 million.
Sydney was host to 613 auctions with a 74.9 per cent clearance rate, rising from 69.2 per cent last week across 609 auctions.
"The final clearance rate for Sydney has been trending below 70 per cent for the last six weeks, although it has been nudging higher over the last two weeks," CoreLogic noted.
Sydney's top sale was an award winning house at Manly on the Northern Beaches which fetched $5.2 million.
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-manly-125714870" target="_blank">5 College Street</a>, the 695 sqm property won the Building Designers Australia award in 2012.
The interiors designed by Hare + Klein have featured in numerous design magazines.
James Cooper of Sanctum Design envisioned the coastal contemporary residence near Manly Beach in Sydney to capture the essence of a relaxed 1950s beach shack in a modern suburban beachside setting.
As well as the Premier's Award for Design Excellence, the beach house won for New residential buildings over 450 sqm.
There were six bedrooms and four bathrooms with the master suite having its own ensuite and balcony.
There was also a self-contained studio/guest apartment.
Outside in the landscaped gardens is a fire pit and heated lap pool plus spa.
The property was offered through Clarke &amp; Humel agents Michael Clarke and Cherie Humel.
Seven of the 15 Sydney sub-regions recorded clearance rates above 75 per cent with the stand out being the Northern Beaches at 92.3 per cent.
In the Eastern Suburbs around 89.2 per cent of listings found buyers, followed by North Sydney and Hornsby (83.6 per cent) and City and Inner South (78.3 per cent) regions.
The combined national capital city preliminary clearance rate rose to 74.8 per cent this week, up from a revised final clearance rate of 69.4 per cent last week, while auction volumes increased week-on-week.
There were 1,712 properties taken to auction this week, up from 1,627 last week, and higher than this time last year, when 1,329 auctions were held and a clearance rate of 67.9 per cent was recorded.
All but Adelaide saw the clearance rate increase week-on-week.
In Adelaide, a 69 per cent preliminary result was recorded across 73 auctions.
Last weekend, the 64 Adelaide auctions returned a clearance rate of 69 per cent for the city.
A sandstone Rose Park house sold for $1.605 million making it Adelaide’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-sa-rose+park-125882334" target="_blank">8 Hewitt Avenue</a>, the 1900 three bedroom property last sold in 1995 for $307,500.
The preliminary clearance rate in Brisbane rose to 50.6 per cent, from 41.7 per cent last week. Auction volumes were slightly higher this week with 126 auctions held, up from 116 last week.
A two bedroom Indooroopilly unit sold for $292,500 making it the nation's cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-unit-qld-indooroopilly-125804670" target="_blank">3/55 Central Avenue</a>, the 97 sqm property is one of only six in the block.
It was last sold in 1993 for $125,000.
Perth’s clearance rate of 73.3 per cent across 15 auction results was up from last week, when 35 auctions were held and a clearance rate of 46.2 per cent was recorded.
Over the same week last year, the clearance rate was a lower 33.3 per cent, and 22 auctions were held.
Across Canberra, 46 homes were taken to auction on the weekend.
Preliminary results show a clearance rate of 73.3 per cent, up from 68.9 per cent the previous weekend.
A Forrest house sold for $4.22 million making it Canberra’s most expensive weekend auction sale which sold through Peter Blackshaw agent Mario Sanfrancesco..
Located at <a href="https://www.realestate.com.au/property-house-act-forrest-125816690" target="_blank">5 Moresby Street</a>, the property last sold in 2001 for $2.14 million.
 
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j.ballantyne1990-6AQqhLzZaK

Melbourne ranks as the strongest capital city auction market

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There were more homes for auction in Melbourne and Sydney in the past six months than at any time over the past two years.
Over the first six months of the year, Sydney had 16,370 auction listings, a 29 percent increase on the 12,708 over the same period last year.
It was also a 5.7 percent gain on the 15,486 of the first six months of 2015, Domain Group figures show.
Melbourne showed a similar pattern, with 18,175 auction listings in the first half, a 13 percent gain on last year's 16,083 and 10.2 percent higher than the 16,486 in the first half of 2015.
The increase in auction listings from last year is partly due to the quiet start of 2016, when owners delayed putting their homes on the market after a surprisingly quiet final quarter of 2015, when prices fell fell in the two largest cities and the average auction clearance rate fell from 73.4 percent in the September quarter to 62.1 percent.
There was also a Federal election that interrupted the 2016 market.
"There's been a real rush into the marketplace this year for both Melbourne and Sydney," Domain chief economist Andrew Wilson told Domain.
"The market did rebound with lower interest rates last year and the end of last year was quite strong for markets.
"Perhaps there's also a sense of the market peaking."
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More 2017 property auctions than in the past two years

<html><body>
GUEST OBSERVER
The latest CoreLogic data shows the home value index increasing by 2.21 per cent in Sydney for the month of June, while auction clearance rates have consistently sat under 70 per cent.
Matt Lahood explains the latest market conditions, looks at the first home buyer concessions and talks important taxation changes.
The market to date
While some conditions have remained unchanged from last month, like reduced bidding heat at auction, the numbers through our open homes are strong and the value of homes in Sydney has increased by 2.21 per cent, according to the latest CoreLogic figures for the month of June.
I see two levers being pulled in the marketplace at the moment. There’s more stock coming on for sale in certain Sydney areas, which leads to greater buyer choice and the normal seasonal lull that settles in during winter.
There has been a significant jump in appraisal demand, which assumes people are gearing up for spring. An important factor to consider is that the Sydney market will slow for a few weeks given school holidays. Homeowners are naturally hesitant to open up their home when children are off from school or may take an annual vacation.
Don’t forget, the new ATO taxation rules on sales above $750,000 requiring a clearance certificate kick in this Saturday July 1st. This is part of the capital gains withholding changes affecting foreign ownership in Australia, the clearance certificate confirms you are an Australian resident. The clearance certificate must be obtained prior to settlement to prevent the 10% non-final withholding.
<h2>First home buyer concessions</h2>
The first home buyer stamp duty concessions also take effect this Saturday July 1st. First home buyers will be stamp duty exempt for purchases on new and existing builds up to the sale of $650,000 and be given stamp duty relief for purchases up to $800,000.
There has been speculation that the slight market dip could have been impacted by the July stamp duty concession release date and that post July 1st things will kick off again. In my view, we will not see any kind of major price shift due to the stamp duty concession, first home buyers just don’t have the market depth, or bargaining bandwidth. What the stamp duty concession will do is get them back into the market if they were going out of it and give them the confidence to stay in the market.
Investors and first home buyers will always be competing within these housing price brackets and investors have not gone out of the market. In fact, the main trend I have seen is people putting their superannuation into property. I believe the upward pressure on property pricing has come from property investors and this has been more evident since super was released for property purchases. Investing in property is seen as a more secure and lucrative investment than shares.
<h2>Census statistics say it all</h2>
Australian homeownership rates are close to a 70-year low and in 2016 sat at 65.5 per cent, this included those who owned or were buying the home they are in. Rental rates sat at 30.9 per cent across Australia in 2016, but this was even higher in Sydney at 34 per cent.
Considering these stark results, it is not surprising we are seeing large numbers through our rental open homes and the team is working hard to help tenants find what they need.
“We are working very closely with prospective tenants to ensure we find and place them into their new home before the available properties hit the market,” National Director of Property Management, Maria Carlino, says.
With Sydney rental vacancy rates sitting under 2 per cent demand is strong, especially in the executive market.
“The high-end properties are still very much in demand. Our latest executive property in Northbridgeleased after its first open home with an increased offer from $2,200 up to $2,300,” explains National Director of Property Management, Maria Carlino. “Both the owner and the new tenants were delighted as it is a special home.”
<h2>Revealing market results</h2>
Vendors are benefitting by hitting the market now because they are going straight back into the same market. If you take a 2.0 or 3.0 per cent adjustment on the intense bidding from a couple of months’ ago, the vendor then picks this 2.0 or 3.0 per cent up when they purchase in the same market.
The recent 2.21 per cent increase in Sydney home value for the month of June, despite less competition at auction, is consistent with the buyer activity we are seeing. An example was the sale of 1 Monmouth Street in Randwick. Though bidding was slow, agent Ben Collier and auctioneer Thomas McGlynn achieved a new street record at $3.54 million.
In certain blue-chip suburbs, properties are selling prior to auction and above the asking price ­­– this is on both sides of the bridge. On market for just seven days, Michael Rava sold a two-bedroom unit in Gerard Street Cremorne to an investor, the ‘upsizing’ homeowner received $100,000 above their asking price. In Waratah Street Rushcutters Bay, James Ledgerwood sold a two-bedroom unit after just 14 days on market to first home buyers, the vendor also obtained a $100,000 above asking price.
Another interesting sale was Avoca Street Randwick. Janet Morrison sold this property 18 months ago for $770,000 and after a renovation, Janet re-sold the property for $950,000 in mid-June this last month.
One Sydney area that constantly bucks the property market trends is the Inner West. A long-term performer, the Inner West has maintained much higher clearance rates than the Sydney average. For example, in May, Inner West clearance rates sat at 89 per cent and The Agency’s Inner West office has achieved clearance rates of 100 per cent and gross sales of in excess of $40 million since February 01.
<h2>The Agency service expansion</h2>
In major news for our NSW’s operation, The Agency has joined forces with leading Lower North Shore group Province Agents. This will propel our service offering across Sydney, connecting the ‘best of the best’ in real estate from the east and west, to the Lower North Shore. Most importantly, this merger will strategically connect buyers, sellers and property management across these three blue-chip markets.
Another significant announcement from Steven Chen, director of The Agency Projects, is the sale and marketing of the luxury, 88-level development ‘Spirit’ on the Gold Coast beachfront. Worth $1.3 billion, these stunning residential properties will feature uninterrupted views and access to world-class amenities. The Forise Holdings ‘Spirit’ development will create thousands of jobs and inject millions into the local community, according to Forise representative and Hickey Management chair Tony Hickey.
 
Matt Lahood is the CEO at The Agency - Sydney. He can be contacted <a href="https://theagency.com.au/team/matt-lahood" target="_blank">here.</a>
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Significant jump in appraisal demand in Sydney: Matt Lahood 

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The residential real estate sector recorded its first revenue fall in five years in the recent financial year.
As estate agents battled low listing volumes in a low commission environment, researchers IBISWorld estimated total fees earned by real estate agents fell by $83.5 million or 0.7 per cent in FY17 to $12.46 billion.
The past financial year also saw the emergence in Australia of low-cost operators, along with the consolidation of lead generating websites which take a share of their commission.
"Rising competition and the digitisation of real estate services are likely to depress profit margins slightly over the next five years and challenge traditional operators," said IBISWorld.
"Digital platforms could undermine the industry's services as they represent a low-cost substitute, although this technology is also becoming a core component of a real estate agent's arsenal."
However, IBISWorld forecast industry employment to rise over the next five years, "with many operators opting to employ additional staff with greater expertise in an attempt to win customers amid rising competition".
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Estate agents took home less in last financial year: IBISWorld

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A match-making service for property? 
In an Australian first, Property Whispers has launched an online property match-making service for off-market listings, which matches buyers and their property requirements with suitable off-market properties in their chosen area, as listed by real estate agents. 
According to a media release from Property Whispers, buyers who register on the website (<a href="https://propertywhispers.com.au/" target="_blank">propertywhispers.com.au</a>) do not need to pay fees to access the off-market ‘inner circle’, while real estate agents would be able to reach more buyers.  
This would create a more competitive off-market sales market, it said. 
After its rollout in Sydney, the service aims for a national rollout in the next 12 months.
“Traditionally buyers needed to be on many sales agents’ databases or engage a buyers agent to access properties being sold on the quiet or pre-market,” said Property Whispers co-founder Liane Fletcher. 
“Now, buyers finally have the tool to access off-market properties that specifically match their purchase requirements.” 
Fletcher, a former real estate agent, said agents can now offer vendors not wanting to pay for expensive advertising or those wanting to keep the sale quiet a platform to do so. 
How Property Whispers Works: 
1.Buyers register list their property requirements (property type, bedrooms, bathrooms, parking, price guide, suburb).
2.Real estate agents list their off-market property specifications (property type, bedrooms, bathrooms, parking, price guide, suburb) - only discoverable via a match. No street address is revealed to the buyer.
3.An instant match occurs when a buyer’s property requirements matches an off-market property and the contact details are immediately sent to both buyer and agent so they can make contact.
4.The buyer and real estate agent speak, arrange to meet to view the property and hopefully a sale follows!
While registration is free for buyers, there is a three-month trial period for real estate agents who register online. Thereafter, there is an annual subscription fee. 
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Liane Fletcher launches Property Whispers as online 'property matchmaker' 

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The Sydney auction market is cooling as finance is harder to come by, especially for investors and those wanting to use interest-only loans.
The preliminary clearance rate reported by Domain was a shade under 70 percent - now tracking well below the frenzied peak - while CoreLogic put the preliminary figure a but higher at 73 percent.
The median auction price for houses was $1,515,500, some $142,500 or 10.4 percent higher than on the same weekend last year.
<a href="https://www.propertyobserver.com.au/images/2017/06/26/SYDNEY.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/2017/06/26/SYDNEY.jpg" alt="">
Similarly the median auction price for units was up by $76,000 or 8.6 percent from the same weekend last year to $955,000. 
Overall the median price of $1,335,000 was the third highest on record. 
Return of the first homebuyer
A factor skewing the median price higher was that some first homebuyers are reportedly sitting on the sidelines until next weekend when the new incentives will have kicked in post-July 1.
From next week, therefore, there may be some renewed upwards pressure on entry level stock priced up to around $800,000. 
Overall, though, the credit squeeze has changed the dynamic of the market considerably, and price pressure is easing. 
In some inner suburbs such as Erskineville, Glebe, Enmore, Newtown, Haberfield, Darlinghurst, Surry Hills, Redfern, and Pyrmont I've already noted a looming shortage of rentals, with vacancy rates sinking to as close to zero as you'll ever see.
Sydney is having an absolute shocker at the moment with its traffic congestion, partly due to the disruption caused by the light rail construction. 
Therefore it's no surprise that areas experiencing a rental shortage are those with great city access.
It's a different story for some of the suburbs where commuters need to drive into the city for work.
Over the next year as investors are increasingly squeezed out of the market there will likely be an increasing number of news stories reporting a Sydney rental crisis, at least for certain locations and sought-after property types. 
Contrast these tight rental markets with the overbuilding and homogeneous glut of rentals on Sydney's city fringe, 60 kilometres to the south west. 
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx">Four Green Houses and a Red Hotel</a>.
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Sydney auction market cooling as finance harder to come by

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A contemporary five bedroom home behind its Federation Armadale facade topped the nation's results when it fetched $5.925 million at its weekend Marshall White auction.
<a href="https://www.realestate.com.au/sold/property-house-vic-armadale-125599174" target="_blank">The </a><a href="https://www.realestate.com.au/sold/property-house-vic-armadale-125599174" target="_blank">9 Alleyne Avenue, Armadale </a>offering was the renovation project of the advertising guru turned property developer Nick Condon, who was formerly managing director of ad agency DDB, and his interior designer wife Kate Beadle.
They secured $900,000 above reserve for the 1910 home that traded in 2014 unrenovated at $2.022 million. They kept the home’s charming red brick facade and the front four rooms, adding a modern extension with five metre high ceilings at the rear.
National clearance rates continued to trend below 70 per cent across the combined capitals, with preliminary results showing 69.1 per cent of auctions found a weekend buyer.
There were 2,323 capital city auctions held this week, down from the 2,444 held last week.
"This week’s preliminary result indicates that clearance rates are continuing to soften," CoreLogic auction analyst Kevin Brogan said.
"Compared to results from one year ago clearance rates are relatively similar with the 67.4 per cent rate of clearance," he noted.
Volumes are up slightly on last June when there were 2,183 offerings.
"Underlying demand is still strong," the Domain chief economist Dr Andrew Wilson noted in Fairfax Media reports.
"And this year, we have higher mortgage rates for investors," Dr Wilson added.
Melbourne’s preliminary clearance rate increased to 71.9 per cent this week, according to CoreLogic, up from last week’s final of 71 per cent, when the lowest clearance rate since July last year was recorded.
Auction volumes decrease slightly with 1,050 auctions held over the week, down from 1,129 over the previous week.
At the same time last year, the Melbourne clearance rate was 68.3 per cent across 1,085 auctions.
The Mornington Peninsula region was the best performer in terms of clearance rates, with an 87.2 per cent success rate across 44 auctions, followed by the North West region, where 79.5 per cent of the 90 auctions sold.
Melbourne had the cheapest result when $262,000 was paid at Moonee Ponds. It had been tipped to sell for around $240,000 to $250,000.
The one bedroom at 6/78 Argyle Street had last sold in 1997 at $53,500.
Across Sydney, 918 homes were taken to auction this week with the preliminary clearance rate for the city at 73.1 per cent.
The final clearance rate dropped for the third week in a row, with 66.7 per cent of the 927 auctions clearing last weekend.
The volume was lower one year ago, when 768 Sydney homes were taken to auction for a 73.4 per cent clearance rate was 73.4 per cent.
Sydney's highest result was a longway from the traditional Saturday auction hotspots, as winter triggers fewer listings.
Offered for the first time in 29 years, an imposing Glenhaven home on a five acre estate fetched $4,625,000. <a href="https://www.realestate.com.au/sold/property-house-nsw-glenhaven-125607338" target="_blank">The vast six bedroom residence</a> was built in 2001. 
The preliminary clearance rate in Brisbane this week was 30.7 per cent, down from 46.4 per cent over the previous week.
Auction volumes were lower this week with 129 auctions held, down from 151 last week.
But Wilston secured a record price when a four level home at 39 Ray Street sold for $3,851,000.
<a href="https://www.realestate.com.au/property-house-qld-wilston-125614870" target="_blank">The seven-bedroom, seven bathrooms trophy home</a> sits on a 1657 sqm block, with a pool, pool house with a shower and bathroom, and a tennis court.
It was sold through Queensland Sotheby’s International realty agent Douglas Tonkin who sold it to an international buyer, whose top bid broke the suburb record of $3.2 million.
"Fastidious owners have remodelled and extended the home to incorporate multi-level living flowing out to the finest in al fresco entertaining and recreation," Tonkin advised.
A total of 101 Adelaide homes were taken to auction this week, with a preliminary clearance rate of 67.6 per cent across 68 results, down from 69.5 per cent last week when 103 auctions were held across the city.
Adelaide's prices ranged between $313,000 at Ingle Farm and $940,000 for <a href="https://www.realestate.com.au/sold/property-house-sa-linden+park-125593922" target="_blank">a 1950s house at Linden Park</a>, which was marketed as representing land value. There had been $790,000 price guidance.
A four bedroom home at <a href="https://www.realestate.com.au/property-house-sa-ingle+farm-125637250" target="_blank">24 Sloan Road</a> at Ingle Farm had been marketed with $300,000 price guidance.
In Perth, 54 auctions took place this week, with Perth’s preliminary clearance rate of 36 per cent higher than both last week’s result (32.3 per cent) and one year ago (31.9 per cent). 
Canberra’s preliminary auction clearance rate of 73.9 per cent this week is higher than last week, when the final auction clearance rate was 50.8 per cent and higher than the 61 per cent recorded last year.
Canberra's top sale was $1.4 million when <a href="https://www.realestate.com.au/property-house-act-o%27connor-125622950" target="_blank">79 David Street, O'Connor</a> was auctioned, having been marketed with $1.25 million plus hopes.
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Federation Armadale home tops weekend auction results

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SQM Research posted its listings figures which suggested "ongoing strength" in the housing market. 
Listings were somewhat higher in the month in Brisbane and Sydney (though miles below the peak of around 44,000 in the case Sydney). 
Melbourne's market continues a multi-year trend of tightening since 2012, while Hobart arguably has the tightest market of all of the capital cities.  
<a href="https://www.propertyobserver.com.au/images/2017/06/07/SQM1.jpg" target="_blank">Click to enlarge</a>
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 <div>Indeed, both Melbourne (-19.5 percent) and Hobart (-18.9 percent) have recorded enormous year-on-year declines in total stock listings. </div>
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<div><a href="https://www.propertyobserver.com.au/images/2017/06/07/SQM2.jpg" target="_blank">Click to enlarge</a></div>
 <div class="separator"><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/2017/06/07/SQM2.jpg" alt=""></div>
 <div>Melbourne recorded a massive near 6 percent uplift for houses in the month, for a 22.6 percent annual increase. </div>
<div> </div>
<div>The Melbourne housing market is performing extremely bullishly, echoing out-performance in the local economy.</div>
<div> </div>
<div>It's also worthy of note that the annual change in listings in resources cities has flattened, after increasing for a long period of time. </div>
 
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
</div>
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Listings suggest ongoing strength: Pete Wargent

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Sydney set a new record for June house auctions with 789 home going under the hammer over the weekend, according to Domain's Andrew Wilson.
Sydney holds a preliminary auction clearance rate 74.3 percent from the weekend listings.
Domain's Andrew Wilson said the hot winter weekend significantly surpassed the previous record set of 670 on set on June 20 2015.
"The previous weekend’s clearance rate was 75.9 percent, and over the same weekend last year it was 80.1 percent," he said.
"It was the third consecutive decline in weekend results with the local market now tracking well below the 79.3 percent average weekend rate recorded over the autumn selling season. 
"Sydney recorded an overall auction clearance rate of 71.6 percent in May which was lower than the 73.3 percent recorded over April but higher than the 69.4 percent reported over May last year.
"Auction listings averaged 858 each weekend over May which was well ahead of the 709 recorded over April and the 637 listed over May last year.
"The May listings result was also a record for that month.
"It’s only the first weekend of the month and already the record has been broken for the most auctions listed and the most properties sold in June.  
"The Melbourne market continues to be deluged by a flood of auction listings with 1045 homes going under the hammer on Saturday – well ahead of the previous record of 955 set on June 18, 2016.
<div class="in-content-ad">"The city recorded a clearance rate of 75.9 percent at the weekend, which was lower than the 76.6 percent the previous weekend but higher than the 74.4 percent recorded over the same weekend last year.</div>
"Saturday’s clearance rate was the second consecutive year low result, with the local market now tracking well below the 79.5 percent average weekend rate recorded over the autumn selling season. 
"Melbourne recorded an overall auction clearance rate of 75.1 percent in May, compared with 75.9 percent recorded in April and 70.3 percent reported in May last year.
"Auction listings averaged 974 each weekend over May, which was well ahead of the 768 recorded in April and the 862 listed in May last year.
"The May listings result was also a record for that month. Over the first five months of this year 14,987 homes have been listed for auction in Melbourne, which is an increase of 14.3 percent on the same period last year."
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Bumper Saturday for Melbourne, Sydney residential auctions

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Nowhere more than in Sydney, the city with the most valuable real estate of the nation, does the suburb you live in define you so much.
At Melbourne parties, they ask: "Where did you go to school?" followed by "What footy team do you barrack for?"
In Sydney we want to know "Where do you live?" and then "How much did you pay?"
Residents in Mount Gilead, set to be one of our newest suburbs, will become as aware of the neighbourhood pecking order as are the last few dames of the upper north shore.
It is not so much about class these days, as about perception, about how smart we see ourselves and others in the pursuit of the property prize.
Sydneysiders know their place, wherever it is, from the mountains to the harbour and coastline.
We define ourselves by the suburbs we look up to and look down on.
I was thinking about this last weekend after the sale of the Fairfax publishing dynasty's $70 million plus harbourfront home, Elaine.
For 123 years of its ownership it sat proudly in Double Bay, but for the past three years during its sales marketing campaign it has been inaccurately described as Point Piper.
Granted it sits on Seven Shillings Beach which takes in both suburbs - and doesn't have a demarkation line in the sand.
I rechecked the official Elaine lands title document and it does say Double Bay. Ok probably Point Piper holds aspirational top spot, but is Double Bay that down at heel to be disowned? 
As Sydneysiders we tend not to actually envy too many of the 650 other suburbs, but rather keep the tribal snobbery to the nearest.
There's the infamous split between the Woollahra and Paddington side of Jersey Road. 
Social death can lie on the wrong side of divides such as Old Windsor Road separating The Hills from Blacktown, while Burwood Heights sits on the wrong side of Liverpool Road for most Burwood residents.
Adjoining suburbs such as Palm Beach and Whale Beach, Woolwich and Hunters Hill look down on each other.
East Balmain and East Redfern are more desirable than Balmain or Redfern. 
On the train line east is always better than west on the Upper North Shore.
Tastes do change over time so the eastern suburbs beaches long lagged behind the harbourside suburbs, though in recent years the likes of North Bondi attracted a happening crowd.
There can be snobbery in reverse as when BrickX secured their recent apartment they were happy to rightly embrace it being in Darlinghurst, while most other occupants in the McLachlan Avenue block claim it's Rushcutters Bay.
Of course as we all live in Sydney, we collectively can look down on every other city in Australia.
 
This article was first published in the Saturday Telegraph
 
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