Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

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>.

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

Sydney

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EG Funds Management has spent $20 million on a three-storey office building in the inner-Sydney suburb of Pyrmont.
It was sold by Aveo through Paul Fernandes of Colliers International. 
EG Fund's purchase for its Core Fund was on an initial yield of around 10 per cent.
<a href="https://www.realcommercial.com.au/property-offices-nsw-pyrmont-501091883" target="_blank">The 63 Miller Street property</a> is known as the former Festival Records building, the pale face brick, Interwar Functionalist style facaded building.
It has rounded corners, asymmetry, long spandrels, parapet and metal framed windows - the hallmarks of the late 1930s Functionalist style. 
It was initially known as Wakefield House, built in 1939 by A.W. Edwards and its architects were Crane &amp; Scott.
The former Festival Records building served as a recording studio for artists such as Midnight Oil, Cold Chisel, Silverchair and Peter Allen who recorded I Still Call Australia at the recording studio.
The Sydney city fringe investment was offered earlier this year as 75% leased to the advertising agency.
In 2006 BMF Advertising leased 2,500 square metres for six years at $440 per square metre.
There was some <a href="https://www.mmj.com.au/buying/NSW/Sydney-City/Pyrmont/Office/2P1551" target="_blank">1,250 square metres of refurbished vacant space</a>. 
The offering's passing net income was given as $1.7 million.
In 2003 Sydney's then Lord Mayor, Lucy Turnbull, stepped in to stop Australia's unofficial rock'n'roll headquarters being torn down and replaced with apartments.
It's future looked like demolition after News Ltd, owner of Festival Records, sold to the Glish Holdings development consortium headed by Mike Wrublewski who wanted build a six-storey block of apartments.
Rupert Murdoch's Mirror Newspapers bought Festival Records in 1960.
Glish Holdings had paid $9.5 million. It last sold at $11.9 million in 2005.
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jchancellor-FAypfDUnLy

EG Funds Management spend $20 million on Festival Records, Pyrmont office block

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New York ranks first, with Sydney sitting in second place when it comes to the latest Knight Frank forecast for 2015 luxury residential market price growth.
Rising business confidence and an increasing sense of political stability is helping to attract interest in Sydney from overseas, the Prime Global Cities Forecast report from Knight Frank said.
It tips 5% price growth in 2015 for Sydney luxury property markets.
Click to open in new window:
<a href="/images/2014/12/10/kf%20dec%2010%20two.jpg" target="_blank"><img src="/images/2014/12/10/kf%20dec%2010%20two.jpg" alt=""></a>
"The weak Australian dollar is adding to this momentum and also reviving interest from Australian expats," Knight Frank researcher Kate Everett-Allen said.
Knight Frank’s Global Cities Report has eight cities included in its forecast.
New York is back on top with luxury prices across Manhattan expected to accelerate by 5% to 10% over the course of 2015, with strengthening foreign interest from Chinese, British, Russian and Latin American buyers. 
"Sydney is also on the radar of foreign buyers but here limited luxury supply is pushing prices higher, so we forecast by up to 5% in 2015," Knight Frank wrote. 
The report noted Sydney was a beneficiary of the flow of wealth from economic or political crisis locations into ‘safe-haven’ markets.
"In markets like London, Sydney and New York, these flows tend to reinforce demand for established market neighbourhoods, with buyers focusing on wealth preservation and looking for mature and stable markets," according to Knight Frank.
The report pinpointed Sydney's eastern suburbs and the lower north shore.
But the report noted their was a risk of potential political interventions in the residential property markets given the prospect of "further debates" in Australia.
"The rising level of cross-border investment is likely to contribute to further debates in other parts of the world in 2015 (Canada, Australia, Dubai) on the impact of foreign buyers on local residential market affordability and stability," it said.
It noted the House of Representatives Standing Committee on Economics had delivered its review into foreign investment in Australia’s residential property market. 
"No additional restrictions have been placed on foreign purchasers buying in Australia but a list of recommendations have been made to ensure the rules are more rigorously enforced."
"The Significant Investor Visa program that attracts high net worth individuals will be refined and a Premium Investor Visa will be introduced on 1 July 2015; a more expeditious pathway to permanent residency for those meeting a $15 million threshold."
The Sydney forecast noted low interest rates are forecast with banks keen to lend at competitive rates.
The report noted luxury residential markets face a diverse range of challenges and opportunities in 2015, but now that stimulus measures have all but disappeared in the US and the UK, all eyes are on Europe and Japan and the extent to which they could halt the tentative global recovery.
"Of the eight cities included in our forecast we expect two to experience prices gains, one to see prices remain stable and five to see prices decline."
Dubai sits at the bottom of the Knight Frank forecast with prime prices expected to slip by 5% to 10% as limited supply and a growing appetite from Indian purchasers should cushion the market.
<img src="/images/2014/12/10/kf%20dec%2010%20three.jpg" alt="">
Source: Knight Frank
The full <a href="https://content.knightfrank.com/research/379/documents/en/prime-global-cities-forecast-q4-2014-2541.pdf" target="_blank" title="Prime Global Cities Forecast Q4 2014">Prime Global Cities Forecast </a>for city by city analysis by Kate Everett-Allen, says residential markets in the world’s leading cities are well-positioned to benefit from both the peaks and troughs of the global economy.
 
“As there are more purchasers in the prime end of the market, prices are now being achieved closer to the original asking price and in most instances, this was set by the owner several years ago," Knight Frank Australia associate director of residential research Michelle Ciesielski said.
 
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Sydney luxury residential to run second only to New York in 2015: Knight Frank

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A Chinese group has reportedly bought the former Bidura, Glebe juvenile detention centre.
The NSW state government sold 357 Glebe Point Road site for $33 million. 
NSW Minister for Finance and Services Dominic Perrottet said the new undisclosed owners had the potential for new ­residential development. 
“Early analysis indicates the property could house up to 100 units if developed," he said.
Savills agents Stuart Cox and Simon Fenn secured the sale of the 5,556 square metre holding.
“By divesting surplus or underutilised property assets the NSW government is taking a responsible approach to property management, rather than being encumbered with costly maintenance and other expenses," the minister said.
Funds from the sale of 357 Glebe Point Road will go towards sourcing new accommodation for family and community services and Department of Justice. 
The preservation of Bidura House is legislated as part of the City of Sydney’s local environment plan. 
No formal buyer indication has been given, with the Australian Financial Review nominating it as a Chinese property developer. The AFR mistakenly identified it as the Yi Yang group.
 
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Former detention centre Bidura, Glebe sells to Chinese property developer

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Three more surplus government-owned property at Millers Point have been sold for a $6.8 million total.
The three Georgian-style terrace properties at 24, 28 and 32 Argyle Place (pictured above) sold at auction fetching $2.3 million, $2.35 million and $2.15 million respectively
The three level terraces had two bedrooms at 24 and 32, with 28 featuring four bedrooms.
The NSW government is proceeding with plans to sell the remaining 284 properties so funds can be reinvested back into the public housing system.
“There’s been a strong market response to the release of the government-owned properties in Millers Point with a total of $21.9 million raised so far from nine sales," the Minister for Family and Community Services, Gabrielle Upton said.
“It is simply not sustainable for the tax payers of NSW to maintain these properties for a select few while elsewhere throughout the State there are tens of thousands left waiting for a roof over their heads," she said.
The Minister for Finance and Services, Dominic Perrottet is co-odindating the sales with three more properties listed for auction in December.
47 Kent Street will be auctioned on 15 December, while 41 and 43 Kent Street will be auctioned on 16 December.
The Georgian style sandstone terrace properties form part of the row which dates back to the 1860s when built by Sir George Wigram Allen, solicitor, state politician and the inaugural Mayor of Glebe.
Each property spans over three levels, with numbers 41 and 43 containing two bedrooms, with number 47 featuring three bedrooms.
Numbers 41 and 43 on Kent Street are being auctioned by Ray White Double Bay.
47 Kent Street will be auctioned by Di Jones Real Estate.
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State government Millers Point terrace sell-off continues apace

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There was a $4.5 million vendor bid when the Georgian-era Paddington residence, Menzies House went to weekend auction.
It was redesigned in the late 1990s by Allen Jack+Cottier commissioned by Mary and Paul Menzies, after they bought it and the adjoining lot in 1994.
The Underwood Street five-bedroom property (pictured above) is set over 700 square metres.
It was auctioned through <a href="https://www.mcgrath.com.au/buy/house-paddington-nsw-2021/245424/?searchID=45314349" target="_blank">McGrath agent Ben Collier</a>.
A $4.31 million Clovelly sale was the weekend's highest reported sale.
The cheapest auction was a two bedroom unit at <a href="https://www.realestateview.com.au/Real-Estate/9-55-59-goulburn-street-liverpool/Property-Details-buy-residential-7883858" target="_blank">9/55-59 Goulburn St, Liverpool</a> selling for $278,000 to the one registered investor. It last sold 30 years ago for $34,000 in 1984, so reflected 7% annual price growth through Pat Bugge, the LJ Hooker Liverpool selling agent. 
Sydney's initial clearance rate was 70.5% – its weakest in 18 months. The revised figure now hovers in the high 60s.
Sydney’s central coast reported the highest clearance regional rate at the weekend with 81.3% with the south-west the next best with 81.1%.
The inner west sat at 73.4%. The north-west's 59.2% was the weakest region.
Auction buyer numbers at auction have been mixed with some properties having in excess of 12 registered bidders, however the average buyer number per property was at five buyers which is down one buyer from the same period last month and November/December 2013, according to Rocky Bartolotto from Auction Services.
"December auction volumes continued to increase with bookings last week coming in," he noted.
"Many vendors/agents are comfortable running a shorter two week auction campaign compared to the usual four weeks with some properties having their initial open house over the weekend with the auction scheduled for 20 December," said Bartolotto.
Andrew Wilson, the senior economist at the Domain Group, said the weakening stemmed from the "unrelenting tidal wave of record end of year auction listings".
"The 70.5% result is the fourth consecutive weekend below 75% for the first time since 15 December, 2012 and its lowest full weekend clearance rate since 6 March 2013."
Sydney broke the record for summer weekend auctions on Saturday with 1,028 homes going under the hammer. This followed last weekend’s spring record of 1,058.
"It was also the first time Sydney has hosted back to back 1,000 auction weekends," Wilson added.
"The market will reach an astonishing end of year crescendo next weekend with yet another Saturday of record-level 1,000 plus auction activity set to test the fast fading Sydney market.
"The current Sydney four-weekend average clearance rate now stands at 73.2% which is well down on the 79.5% average recorded over the previous four-weekend period."
Sydney broke the record for summer weekend auctions on Saturday with 1,028 homes going under the hammer. This followed last weekend’s spring record of 1,058 and was the third highest auction weekend on record. It was also the first time Sydney has hosted back to back 1,000 auction weekends.
The market will reach an astonishing end of year crescendo next weekend with yet another Saturday of record-level 1,000 plus auction activity set to test the fast fading Sydney market.
The current Sydney four-weekend average clearance rate now stands at 73.2% which is well down on the 79.5% average recorded over the previous four-weekend period.
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Menzies House, Paddington fails to sell amid weakest weekend result for 18 months

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Sydney’s residential market has experienced substantial growth over the past 12 months and for Western Sydney, in particular, this is expected to continue, according to latest December 2014 report from Herron Todd White.
Considering properties under $1 million, the clear expectation is for growth in the lower priced brackets to continue unabated. Earlier this year, their report signalled that they expected a cooling towards the end of the year if interest rates increased. As no rate increase eventuated, growth has continued.
The main drivers that continue to push the market include high demand, limited stock and low interest rates. Herron Todd White point to local indicators such as long lines at open homes and camp outs to secure land releases in some areas.
They note this has been particularly evident in Sydney’s fringe suburbs, from Camden to Blacktown’s The Ponds – which was <a href="/expert-insights/building/most-successful-masterplanned-project-in-nsw-history-sells-out-the-ponds">yesterday reported as the fastest selling Masterplanned estate in New South Wales history</a>.
Their lower priced areas of note include:
<ul>
<li><a href="/news">Seven Hills</a></li>
<li><a href="/news">Oran Park</a></li>
<li><a href="/news">Gregory Hills</a></li>
<li><a href="/news">Leppington</a></li>
</ul>
The construction of a second Sydney airport at Badgerys Creek, the south-west railway and associated employment are expected to drive demand.
 “The supply of land is controlled by developers and they will continue to monitor supply and demand to ensure the continued success of their estates,” the report notes.
Slightly higher, but worthwhile considerations when looking at $700,000 to $1 million property, include:
<ul>
<li><a href="/news">North Rocks</a></li>
<li><a href="/news">Cherrybrook</a></li>
<li><a href="/news">Castle Hill</a></li>
</ul>
All three of these higher priced areas have been strong performers this year.
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jduke-EHk3XBmHkn

The sub-$1 million Sydney areas expected to perform: Herron Todd White

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High volumes continue in the Sydney weekend auction market.
This Saturday 992 auctions are scheduled which is just below the 995 December Saturday record set last year on 14 December.
Sydney will also host around 1,000 auctions next weekend when the December auctions record clearly will be broken, according to Australian Property Monitors.
The upper north shore will again host the most number of auctions this weekend with 146 closely followed by the inner west with 144, the south 145, the city and east 129, the lower north 99, the west 88, Canterbury Bankstown 65 and the northern beaches with 57 auctions scheduled.
The most popular suburb for auctions this weekend in Sydney is Mosman on the lower north shore with 20, followed by Carlingford in the north west and Eastwood on the upper north shore each with 12, Hurstville in the south with 11, Drummoyne in the inner west with 10 and a number of suburbs with 9 auctions scheduled including St Ives on the upper north shore, Blacktown in the west and Castle Hill in the north west.
"Sydney’s weekend auction market has tracked backwards over the past month with falling clearance rates reflecting supply catching up with demand," APM senior economist Andrew Wilson said.
"The past three weekends have recorded consecutive clearance rates below 75% for the first time since March 2013," he noted.
Sydney commenced the spring selling season this year with nine consecutive clearance rates above 80%. 
"The current four-weekend average clearance rate has fallen below 75% to 74.5% which is well down on the 80.4% average recorded over the previous four-weekend period," he said.
Last weekend Sydney broke the record for the most number of homes auctioned on a Spring Saturday with 1058 listings, just below the all-time Saturday auction record of 1,111 set on the pre-Easter Saturday earlier this year.
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Busiest December ever for Sydney auctions

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There were three bidders when 37/89-91 Hughes Street, Cabramatta went to weekend auction.
The first floor recently renovated 61 square metre two bedroom apartment fetched $351,000.
The 1974 built apartment was marketed as an entry level perfect home for first home buyers or an ideal investment with potential rent of $320 per week.
<a href="https://www.domain.com.au/property/for-sale/apartment-unit-flat/nsw/cabramatta/?adid=2011571207" target="_blank">Peter Ly of Raine &amp; Horne Cabramatta</a> told Property Observer it sold to an investor. 
It last sold in 1998 at $66,000, reflecting 10% annual growth over the 16 years.
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10% annual growth as Cabramatta unit sells as $351,000 weekend cheapie

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We know the rate of price growth continues to slow, but the most telling data in the latest November figures CoreLogic RP Data, was the slowing in growth for Sydney apartments.
Sydney continued to drive capital city growth in November, with house values up 14.3% on an annualised basis.
It was running at 14.9% two months ago. It was 15.2% during 2013.
But the apartment segment is nowhere near as strong.
Apartment values in November were up 8.7% over the past year.
But two months it was running at 11.5%. It was 11.6% during 2013.
It is fair to say most Australian cities have now passed their cyclical peak periods.
Sydney's house median sits at $825,000, up from $775,000 at the end of 2013.
Apartment median sits in Sydney at $605,000, up from $557,000 at the end of 2013.
Overall the national capital city average annualised growth for houses has been 8.9% compared to 5.9% for apartments.
Of course let's not forget that just three year ago units were the faster movers in 2012, which was overall pretty ordinary for growth with Sydney house prices up 1.3% annually and units up 2.3% annually.
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Sydney apartments the weaker link for late 2014 price growth: CoreLogic RP Data

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The terrace house at 53 Wells Street, Redfern - double-fronted terrace on 200 square metres - sold at weekend auction for $1.18 million.
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The deceased estate sold through <a href="https://www.mcgrath.com.au/buy/house-redfern-nsw-2016/235841/?searchID=45087408" target="_blank">Ben Forsyth of McGrath Edgecliff</a> who had issued 13 contracts.
It was formerly an artist’s home, but left empty for five years. 
The two bedroom home was bought by a young couple.
Redfern house prices have jumped by 16.2%, according to CoreLogic RP Data. Forsyth was quoting $850,000 plus.
At <a href="https://redir.aspx?C=79zFc25QqEGnZ6JTcfBKWf6KkeEd4NEIyAHetFn24ibN4isqe1s859cfUt3vGLzH9VNGxccgBAY.&amp;URL=http%3a%2f%2fwww.realestate.com.au%2fproperty-house-nsw-ashfield-118348847" target="_blank" style="line-height: 1.3em;">12 John St Ashfield</a> about 100 spectators saw two bidders go all the way at each other from start to end when offered through Domenic Bucciarelli of LJ Hooker Ashfield. 
The auctioneer Rob Trovato of Auction Services secured $1,122,000 which was $142,000 over reserve for the house which was a heritage listed, in need of repair, and offered with the potential of building a granny flat.
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