<p>Brunswick’s civic heart continues to consolidate around the Merri-bek Arts and Culture Precinct, where a growing cluster of cultural institutions, recreation facilities, and public infrastructure has created one of the inner north’s most defined community hubs.&nbsp;</p>

<p>Within this evolving precinct, <a href="https://www.apartments.com.au/new-apartments/saxon-street-by-milieu-brunswick-31-saxon-street-brunswick-vic-3056">Saxon Street by Milieu</a> introduces new housing directly alongside the civic anchors that shape daily life in the suburb.</p>

<p>At 31 Saxon Street, the project sits immediately beside Brunswick Baths and within moments of Brunswick Library and Town Hall, longstanding institutions that support both community services and everyday amenity.&nbsp;</p>

<p>[smartcode_project:default project_id=136434 project_image_fid=348840]</p>

<p>Next door, the newly delivered Balam Balam Place arts precinct has emerged as a central piece of Merri-bek Council’s cultural strategy, bringing together creative studios, exhibition spaces, maternal and child health services, and community programming in a purpose-built civic facility. Together, these destinations have reinforced the surrounding blocks as a focal point for public life in Brunswick.</p>

<p>This part of <a href="https://www.apartments.com.au/developments/brunswick-vic-3056">Brunswick</a> forms a key pocket within the suburb’s designated Major Activity Centre, where long-term planning has prioritised walkability, civic investment, and increased housing supply close to transport and services. The surrounding street network reflects that strategy, with compact blocks, established retail corridors and active transport links supporting a lifestyle that is largely navigable on foot.</p>

<p>Within a few minutes’ walk, Sydney Road delivers one of Melbourne’s most recognisable streets, known for its long-running mix of independent retailers, international dining venues and everyday convenience. Tram routes along Sydney Road provide frequent connections south toward the CBD and north through Brunswick and Coburg, while Jewell Station on the Upfield line sits within roughly a ten-minute walk, offering direct train access into the city.</p>

<p>[smartcode_project:default project_id=136434 project_image_fid=348839]</p>

<p>Active transport also plays a significant role locally. The nearby Upfield Bike Path forms a key north–south cycling corridor linking Brunswick through Parkville and into the central city, reinforcing the area’s reputation as one of Melbourne’s most accessible inner-urban neighbourhoods for cyclists and pedestrians alike.</p>

<p>The surrounding civic cluster extends beyond cultural infrastructure. Siteworks, a nearby creative hub supporting artists and community organisations, adds to the concentration of cultural activity in the immediate area. Educational institutions such as Brunswick North Primary School, Brunswick Secondary College and RMIT’s Brunswick campus are also within easy reach, contributing to the suburb’s diverse resident base spanning families, students and professionals.&nbsp;</p>

<p>[smartcode_project:default project_id=136434 project_image_fid=348841]</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/jackson-clements-burrows-architects">Jackson Clements Burrows Architects</a> in collaboration with <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> and landscape architects <a href="https://www.apartments.com.au/landscape-architect/oculus">OCULUS</a>, the nine-level building has been shaped to respond to the surrounding streetscape, with lower levels aligning to the street and upper storeys stepping back to soften its scale and improve solar access.&nbsp;</p>

<p>Curved balcony forms reference nearby heritage architecture, while the development’s public realm improvements include a widened footpath along Saxon Street to strengthen pedestrian connections between the precinct’s civic sites.</p>

<p>Sustainability also underpins the project’s approach. The building is designed to operate entirely on electric infrastructure supported by rooftop solar, with an average 7.5-star NatHERS energy rating and EV-charging readiness across the development. Shared resident amenities will include a landscaped rooftop terrace with barbecue and covered dining areas intended to encourage informal interaction between residents.</p>

<p>Saxon Street marks developer Milieu's fifth project in Brunswick and continues its focus on design-led infill housing across Melbourne’s inner suburbs.&nbsp;</p>

<p>Construction has commenced through reputable builder Manresa, who will complete the project in 2027.</p>

<p>[smartcode_project_cta:default project_id=136434]</p>


Joel Robinson

Saxon Street by Milieu connects residents to Brunswick’s cultural and civic core

<p>Within <a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a>, <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>&nbsp;takes a different approach to larger residences, moving away from the constraints of a single level.</p>

<p>In Grand Residence 3.05, known as the Lustre, plays out across two levels, with a mezzanine configuration that is uncommon in apartment living.</p>

<p>Lustre is a four-bathroom residence where the layout creates a clear distinction between shared and private zones, with uninterrupted views toward the Dandenong Ranges extending the sense of openness from the main living areas.</p>

<p>Entry is to the primary living level, where the kitchen, dining, and living areas are arranged as one continuous space. Timber flooring runs throughout, with a fireplace set within the living zone. Full-height glazing brings in natural light, supported by double glazing that improves thermal performance.</p>

<p>[smartcode_project:default project_id=342 project_image_fid=357506]</p>

<p>The kitchen is configured as both a working and social space. A large island bench provides seating, while a walk-in pantry extends storage beyond typical apartment expectations.</p>

<p>Gaggenau appliances, including a 900mm gas cooktop and 600mm oven, are integrated into a layout that connects directly to the adjacent dining and living areas, and outward to the terrace. This balcony includes a built-in BBQ, reinforcing the apartment’s capacity to accommodate larger gatherings without compromising internal space.</p>

<p>A dedicated laundry room, powder room, and a wine cellar area sit discreetly off the main living zone, ensuring that functional requirements are resolved without encroaching on primary living areas. The master suite is also located on this level, designed as a retreat with a walk-through wardrobe and an ensuite that includes double vanities, a bath, and a dedicated dressing table.</p>

<p>[smartcode_project:default project_id=342 project_image_fid=357508]</p>

<p>The mezzanine level introduces a second layer of living, rather than simply additional bedrooms. Two large bedrooms with built-in robes are positioned alongside a central bathroom, while a secondary lounge and study area create a self-contained zone suited to children, guests, or extended family. A large storage room further supports long-term usability, addressing a common shortfall in apartment design.</p>

<p>This separation of levels is central to how the residence functions day-to-day. It allows the lower level to operate as the primary entertaining and living space, while the upper level provides privacy and flexibility. The result is closer in feel to a townhouse or standalone home, but with the benefits of apartment living, security, and low maintenance.</p>

<p>[smartcode_project:default project_id=342 project_image_fid=364553]</p>

<p>Candela is close to 80 per cent complete, with Ironside delivering construction ahead of its expected October 2026 completion. The development comprises 58 residences, with a strong owner-occupier profile and a mix of one to four-bedroom apartments and loft-style townhouses.</p>

<p>Candela has exclusive access to private amenities, including a residential lounge and rooftop terrace. A charming café and a lifestyle wellness centre are located on the ground level, designed to foster community connection and extend the living experience beyond individual apartments without competing with the scale of homes like Lustre.</p>

<p>Candela, positioned in the heart of Ivanhoe Village, reinforces the practicality of the address. With a Walk Score of 90, residents are within immediate reach of cafés, retail, parklands, and Ivanhoe Station, while also benefiting from proximity to established schools and healthcare services.</p>

<p>[smartcode_project_cta:default project_id=342]</p>


Inside Lustre: Grand Residence 3.05 at Candela Ivanhoe

<p><a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a>’s <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a> is being shaped around a simple but increasingly rare premise in apartment development: that the built environment should actively support residents’ wellbeing.&nbsp;</p>

<p>Located on the former ABC Studios site on Gordon Street in Melbourne’s south-east, the new neighbourhood sits on an expansive 11,740 sqm site neighbouring the heritage-listed Rippon Lea Estate, whose gardens date back more than 140 years.</p>

<p>Rather than positioning wellness as an add-on amenity, the development integrates it into the physical planning of the site. Architecture by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> is arranged across six low-rise buildings set within extensive landscaping designed by <a href="https://www.apartments.com.au/landscape-architect/oculus">OCULUS</a>, with more than 40 per cent of the land dedicated to gardens and green space. Walking trails, pocket gardens, and mature trees are threaded between buildings, creating a network of green corridors that encourage residents to move through the precinct on foot and spend more time outdoors.</p>

<p>[smartcode_project:default project_id=136535 project_image_fid=288420]</p>

<p>Milieu has intentionally framed these gardens as an extension of the neighbouring Rippon Lea Estate. More than 16,000 new plants will be introduced across the site, with species carefully selected to protect and complement the area’s ecological significance. The approach focuses on strengthening existing environmental conditions while establishing new habitats that support native wildlife, reinforcing the role of the landscape as both an active ecosystem and a defining element of daily life.</p>

<p>A private resident gate will provide direct access to the historic grounds during opening hours, allowing residents to move seamlessly between the development’s landscaped gardens and the estate’s expansive lawns, lakes, and mature trees. The project’s gardens will also be maintained by the same gardeners responsible for Rippon Lea, reinforcing the visual and ecological continuity between the two landscapes.</p>

<p>Complementing the landscape is a dedicated wellness hub designed to support everyday health and recovery. Residents will have access to a gym alongside yoga and Pilates studios, while mineral pools and infrared saunas provide spaces for relaxation and restorative wellbeing. Shared lounges, workshop spaces, and pet care facilities expand the concept of wellness beyond fitness, creating opportunities for social connection and community interaction within the precinct.</p>

<p>Environmental performance is another key component of the project’s wellbeing focus. Elsternwick Gardens will be entirely fossil-fuel-free, with homes designed to operate on renewable electricity rather than gas. Passive design strategies, including cross-flow ventilation, high-performance insulation, and thermally broken double glazing, are intended to maintain comfortable indoor temperatures while reducing energy demand. Solar photovoltaic systems will power common building services, while rainwater harvesting will help irrigate the extensive landscaping across the site.</p>

<p>[smartcode_project:default project_id=136535 project_image_fid=361030]</p>

<p>Milieu Founder and Managing Director Michael McCormack says the scale and setting of the project allowed the team to take a different approach to urban apartment living.</p>

<p>“This site represents a once-in-a-lifetime opportunity to build something truly special,” McCormack says.</p>

<p>“Through that process, we arrived at a design that centres on a fully realised natural landscape – a series of private, interconnected gardens that encircle the homes and extend seamlessly from Rippon Lea Estate.”</p>

<p>Elsternwick Gardens will comprise three residential offerings, Gordon Place, Ripponlea Terrace, and The Garden Pavilion, each designed for owner-occupiers and shaped around high-quality interior design by Woods Bagot, K.P.D.O., and Flack Studio. The first stage, Gordon Place, includes one-, two-, and three-bedroom apartments designed with a strong focus on indoor-outdoor living and sustainability.</p>

<p>[smartcode_project:default project_id=136535 project_image_fid=288412]</p>

<p>Milieu recently appointed <a href="https://www.apartments.com.au/builders/brady-constructions">Brady Constructions</a> to deliver the project, marking a key milestone for the development. The appointment follows the demolition of the former studio buildings on the Gordon Street site, with construction progressing toward the delivery of the nature-led community.</p>

<p>Situated between the established villages of Elsternwick and Ripponlea, the development balances its garden setting with strong urban connectivity. Residents will be within walking distance of cafés, restaurants, and local retail, while nearby train and tram connections provide quick access to Melbourne’s CBD and the beaches of Elwood and St Kilda.</p>

<p>With construction underway and the first residents expected to move in by early 2027, Elsternwick Gardens represents a growing shift in apartment development toward environments that prioritise wellbeing as much as density or location. By placing landscape, sustainability, and shared spaces at the centre of the design, Milieu is positioning the project as a residential neighbourhood where wellness is not just promoted, but built into the structure of everyday life.</p>

<p>[smartcode_project_cta:default project_id=136535]</p>


Elsternwick Gardens' wellness-first design strategy

<p>Brisbane-based developer <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a> has made a striking debut on the Gold Coast, officially unveiling its $250 million COMO development in Varsity Lakes, a lifestyle-driven residential project anchored by an extensive rooftop wellness and activity precinct.</p>

<p>Having recently launched to market, construction has already been fast-tracked by <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a>, ensuring momentum continues on what is set to become a landmark residential address for the growing Varsity Lakes community.</p>

<p>Located at 22 Lake Street, Varsity Lakes, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels, comprising one-, two- and three-bedroom residences designed for modern living. However, it is the project’s rooftop amenity offering that sets COMO apart.</p>

<p>[smartcode_project:default project_id=135546 project_image_fid=363510]</p>

<p>Designed as a dedicated wellness and recreation hub, the rooftop will feature a 25-metre lap pool, fully equipped gymnasium, and multiple pickleball and paddleball courts - amenities rarely seen in boutique apartment projects.</p>

<p>Residents will also have access to a sauna and plunge baths, while landscaped gardens and relaxation zones will provide tranquil spaces overlooking sweeping panoramic views across the Gold Coast skyline.</p>

<p>The rooftop precinct has been designed to function as the social and wellness heart of the development, encouraging residents to embrace an active, balanced lifestyle within their own building.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=135546 project_image_fid=363512]</p>

<p>Red &amp; Co director David Laverty said the amenity offering was central to the project’s design from the outset.</p>

<p>“Amenities were at the forefront of our decisions,” Laverty said.</p>

<p>“Buyers today are looking for more than just an apartment - they want a lifestyle that promotes health, connection and balance.</p>

<p>“The rooftop at COMO has been designed to be the epicentre of that lifestyle, with a suite of wellness and recreation facilities that are quite unique for a boutique development of this scale.”</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=135546 project_image_fid=363514]</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the residences prioritise liveability, featuring spacious layouts, 2.7-metre ceilings and high-quality finishes throughout.</p>

<p>The development sits beside Bond University, placing residents within walking distance of education, retail and dining options within the vibrant Varsity Lakes precinct, including Robina Town Centre, Varsity Lakes Train Station and a range of leading schools.</p>

<p>[smartcode_project:default project_id=135546 project_image_fid=363511]</p>

<p>Laverty said the location was a key driver behind Red &amp; Co’s decision to bring the project to the Gold Coast.</p>

<p>“<a href="https://www.apartments.com.au/developments/varsity-lakes-qld-4227">Varsity Lakes</a> was a clear choice for us to invest in as it’s a lifestyle hub that seamlessly blends lakeside living with urbanity,” he said.&nbsp;</p>

<p>“Como will capitalize on this great location, delivering a project that not only creates premium homes, but a lifestyle defined by community, wellbeing, and connectivity.”</p>

<p>Red &amp; Co has delivered more than 500 apartments and townhouses across 26 projects in Brisbane in recent years, with COMO marking the company’s first major Gold Coast development.</p>

<p>[smartcode_project_cta:default project_id=135546]</p>


Red & Co unveils amenity-rich Como development in Varsity Lakes

<p>Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/big-projects">Big Projects</a> has secured approval for its second Mermaid Beach project.</p>

<p>The developer, currently selling <a href="https://www.apartments.com.au/new-apartments/the-frederick-mermaid-beach-2265-gold-coast-highway-mermaid-beach-qld-4218">The Frederick in Nobby Beach</a>, has secured approval for its next project just 1.5 kilomnetres up the road.</p>

<p>The new development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/glenelg-residences-2462-2472-gold-coast-highway-mermaid-beach-qld-4218">Glenelg Residences</a>, has been designed by BDA Architecture and&nbsp;will have just under 100 apartments across an 11-storey building&nbsp;at 2462–2472 Gold Coast Highway, on the corner of Glenelg Avenue just under 300m from the future Mermaid Beach Light Rail stop.</p>

<p>The apartments, a mix of two- and three-bedrooms, will sit above a retail-focused ground plane and under extensive rooftop resident amenities.</p>

<p><img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-06-11%20at%209.55.04%20am.png?VersionId=z6NV4izeuvhBSSVlY6vK6TPO1LxrFeaG" /></p>

<p>BDA said in its planning submission that the project is intended to support the area’s transition toward higher-density, mixed-use living. “This project offers the opportunity to generate appropriate higher-intensity development within the future Light Rail corridor of <a href="https://www.apartments.com.au/developments/mermaid-beach-qld-4218">Mermaid Beach</a>,” the submission noted.</p>

<p>At ground level, Glenelg Residences will include eight retail tenancies designed to activate the street frontage, complemented by a basement bar offering an additional hospitality element. Above, residents will have access to a rooftop amenity deck featuring an infinity pool, hot and cold plunge spas, day beds, and barbecue facilities.</p>

<p>The architectural approach adopts a restrained material palette of brick, textured concrete, and integrated landscaping, with cantilevered concrete frames and cascading planting intended to soften the built form. BDA described the design as aiming to create “a memorable sculptural mid-rise mixed-use building” that responds to both its coastal setting and urban context.</p>

<p><img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-06-11%20at%209.55.45%20am.png?VersionId=cpjIVBqcT_sujmo2UMWkVyLcQ7WGJHaQ" /></p>

<p>The approval comes as the City of Gold Coast continues to plan for significant population growth, with regional targets requiring more than 100,000 new high-density dwellings by 2046.</p>

<section data-scroll-anchor="false" data-testid="conversation-turn-36" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-17" dir="auto">
<p data-end="436" data-is-last-node="" data-is-only-node="" data-start="244">Big Projects, led by Matthew and John Barrett, is part of a growing cohort of developers that deliver construction in-house, providing a high level of confidence to prospective purchasers.</p>
</section>

<p>[smartcode_project_cta:default project_id=150260]</p>


Big Projects secures approval for Glenelg Residences in Mermaid Beach

Auction Market Activity

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<div>EXPERT OBSERVER</div>
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<div>Very cagey auction activity in Sydney, with a preliminary clearance rate of only 44.5 per cent (more like somewhere in the thirties come final). </div>
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<div>The median auction price of a sold house was well down from a year earlier at $1,285,000, reflecting reduced borrowing capacity (mainly for investors rather than homebuyers). </div>
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<div>For units the median price of property sold at auction was up from $900,000 a year earlier to $940,250.  </div>
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<div>But still very muted activity levels overall.<br><br>
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<br><div>Melbourne's clearance rate is also now well under 50 per cent. </div>
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<div><strong><span style="text-decoration: underline;">ALP in the ascendancy</span></strong></div>
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<div>With the Coalition roundly punished by the electorate in the Wentworth by-election for their machinations and tanking to a minority government in the process, property market participants will need to weigh up the potential impacts of changes to negative gearing legislation.</div>
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<div>I'll post an online workshop on this very subject this week, so keep an eye out for that. </div>
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<div><strong><span style="text-decoration: underline;">Tightening</span></strong></div>
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<div>Thanks for the thousand or so Tweets, messages, and pingbacks about record underutilisation and the like - a pleasure as always! </div>
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<div>Yes, it's a problem.</div>
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<div>No, it's not been getting worse.</div>
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<div>Volume measures - reported quarterly on an original basis - have consistently improved year-on-year since 2014...through 2015, 2016, 2017, and 2018 year-to-date.</div>
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<div>All publicly available information from the ABS:</div>
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<div>Yes, there is more work to be done (literally so in this case!).</div>
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<div>The Reserve Bank has noted the same patterns, but still believes that the unemployment rate is the key measure, and that's at the lowest level since 2012.</div>
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<div>No, this won't be reported in left-leaning media<em>, </em>nor for that matter whichever 'recession' blogs you may care to mention.<br><br><em>C'est tout. </em>
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<div>Cheers!<br><br>Very low preliminary auction clearance rates this weekend, under 50 per cent for Melbourne, and just 44 per cent for Sydney.<br><br>It'll be a long, slow run into Christmas from here this year. </div>
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pwargent-M4siyDbqQY

Auctions fizzle out for 2018

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<p>With much the nation having the long weekend public holiday, auction activity across the combined capital cities is set to be subdued this weekend. </p>
<p>Amid the limited listings, some agents succeeded in selling before auction, including <a href="https://www.realestate.com.au/property-house-nsw-riverview-134313290">112 Riverview Street</a>, Riverview.</p>
<p>Belle Property’s Simon Harrison sold the property, which last traded in 2005 for $580,000.</p>
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<p><span>There are 719 capital city homes scheduled for auction this week, according to CoreLogic, down on the 1,082 auctions held last week and lower than the 1,324 last year.</span></p>
<p><span>Across the individual cities, scheduled volumes are set to be lower over the week across all but Perth and Melbourne. However, for both cities the rise is across already extremely low volumes.</span></p>
<p><span>Sydney makes up more than half of the overall scheduled auction volumes, with 473 homes scheduled, off the back the busiest week the city had seen since early April last week (812).</span></p>
<p><span>Melbourne volumes are higher over the week but the city continues to see some of the lowest levels of activity recorded. There are 77 Melbourne homes scheduled for auction, up from 40 last week.</span></p>
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<p>According to Ray White, the Melbourne property deep freeze is over, with numbers set to soar in the coming weeks.</p>
<p>News of eased restrictions has already inspired buyers to list their properties with already 26 Melbourne Ray White auctions scheduled for this week, compared to last week’s four.</p>
<p>The national Ray White Group recorded a 70 per cent Sydney clearance rate last weekend, one of the highest in six months.</p>
<p>An offering in East Ryde, marketed by Ray White’s Barrie Brown, is expected to do well this weekend.</p>
<p>Situated at <a href="https://ecomms.raywhite.com/collect/click.aspx?u=d2QwOW9DWld4TzJhNXgyRWZuQ1hRV1ZETUk5QXRjTUlDWTdNZGNXdmZQdTdZNjAzL2hzYjNsb04xZG1QRGtHRlhoZ2ozbFVLZUQ4ZmJTTkpIMUwvSU5iTnkwUG9ETHBQR0VxUlJZUEUyWjA4UloyVTVQbnVjdXJidExBN05oQXo3M3ZoZG04UENSNVp6THc5a0xkcDErL3EzYVhuMXRYdnROaFZ1SVh0Nkk4PQ==&amp;rh=ff006a241e9e53799580abbb0c4cb9afb1ccc258">2 Rodney St</a>, the three-bedroom home is listed with a price guide sitting at $1.6 million.</p>
<p>"There have mainly been young couples coming to inspections which fits the suburb’s core demographic,” Mr Brown said.</p>
<p>In Queensland near beachside homes are listed for auction this weekend.</p>
<p>A four-bedroom, four-bathroom Mermaid Beach residence.</p>
<p>The tri-level home, located at <a href="https://www.realestate.com.au/property-house-qld-mermaid+beach-134386122">34 Dudley Street</a>, was designed by architect John Campbell and features floor to ceiling windows, an alfresco area and light-filled interiors.</p>
<p><span>Over the same week one year ago,<span> 1,324 homes were taken to auction across the combined capital cities returning a final auction clearance rate of 67.6 per cent, according to CoreLogic. </span></span></p>
<p><span><span>In Sydney last year, just 317 homes went to auction across the city on the week of the long weekend. </span></span></p>
<p><span><span>In comparison, 950 homes were taken to auction over the previous week.</span><br></span></p>
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j.ballantyne1990-6AQqhLzZaK

October long weekend sees subdued auction listings

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<p>Given Melbourne's Moomba long weekend, all of the busiest suburbs for weekend auctions are in NSW with Lane Cove topping the list with 12 homes set to go under the hammer.</p>
<p>It is followed closely by Neutral Bay and Randwick, each with 11 auctions.</p>
<p>There are a total of 1,130 homes scheduled for auction across the combined capital cities, down almost 50% on last week’s final results which saw a total of 2,201 auctions held. </p>
<p><img src="https://www.urban.com.au/images/2019/3/7/Auction%20stats.JPG" alt=""></p>
<p>The lower activity this week is a likely result of half of the auction markets welcoming a long weekend, with Melbourne, Canberra, Adelaide and Tasmania all host to a public holiday this coming Monday.</p>
<p>Notably the biggest decrease in activity is expected to be across Melbourne, with only 199 homes scheduled for auction this week, down by 80.8% on last week when 1,039 auctions were held.</p>
<p>The number of auctions scheduled across Sydney will also see a fall to a lesser degree, with 669 scheduled auctions this week, decreasing from the 801 auctions held last week.</p>
<p>Perth is expected to be the only capital city auction market to see a rise in volumes week-on-week.</p>
<p>One example of the busy auction week in Lane Cove is <a href="https://www.realestate.com.au/property-apartment-nsw-lane+cove-130508598" target="_blank">503/17 Finlayson Street</a> (pictured top).</p>
<p>The one bedroom one bathroom apartment comes with a price guide of $700,000 to $770,000.</p>
<p>Lloyd Allen and Justine Collins of Allen Estate Agents hold the listing.</p>
<p><img src="https://www.urban.com.au/images/2019/3/7/Lane%20cove%202.JPG" alt=""></p>
<p>Another example of the volume of auctions in Lane Cove this week is <a href="https://www.realestate.com.au/property-apartment-nsw-lane+cove-130385674" target="_blank">5/19 Murray Street</a> (pictured above).</p>
<p>The two bedroom one bathroom apartment comes with a price guide of $680,000.</p>
<p>Set on 92 square metres, the unit is positioned on the top floor</p>
<p><img src="https://www.urban.com.au/images/2019/3/7/Lane%20cove%203.JPG" alt=""></p>
<p>A third showcase of the properties going to auction is <a href="https://www.realestate.com.au/property-house-nsw-lane+cove-130355494" target="_blank">5 Cogan Place, Lane Cove</a> (pictured above).</p>
<p>The four bedroom bathroom house comes with no price guide.</p>
<p>It is described as a state-of-the-art family luxury by James Bennett and Baxter van Heyst of Belle Property who hold the listing.</p>
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Lane Cove the busiest auction suburb as public holiday hits volume levels

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<p>For the first time since GFC, Sydney's auction clearance rate has fallen below 40%, according to Domain.</p>
<p>They found Sydney had a revised clearance rate of just 39.4% on 403 reported auctions of the week ending October 20, 2018.</p>
<p>Only <span>$170 million dollars worth of property sold compared to the same period last year when <span>$484 million worth of property sold</span>.</span></p>
<p><span><span>There is still 9.3% unreported.</span></span></p>
<p><span>Click here <a href="https://www.propertyobserver.com.au/images/2018/10/29/Domain%20Auction.JPG" target="_blank">to enlarge.</a></span></p>
<p><img src="https://www.urban.com.au/images/2018/10/29/Domain%20Auction.JPG" alt=""></p>
<p>The consistent recent deterioration had market watchers anticipate auction clearance rates dipping into the 30s. </p>
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<p>SQM's Louis Christopher recently noted three previous times when Sydney auction clearance rates sunk into the 30s.</p>
<p>"That was in October/November 2008 during the GFC, May 2004 after the NSW vendor stamp duty was introduced and July 1989 when the cash rate hit 17 percent."</p>
<p>Melbourne's revised clearance rate was also very low last week at 44.4%.</p>
</div>
</div>
</div>
</div>
<p><img src="https://www.urban.com.au/images/2018/10/29/Darlin.JPG" alt=""></p>
<p>The most expensive sale at auction in Sydney last weekend was <a href="https://www.realestate.com.au/sold/property-house-nsw-darling+point-129472518" target="_blank">13 Etham Avenue, Darling Point</a> (pictured above) which sold after auction for $5 million.</p>
<p>The five bedroom three bathroom home set on a 486 sqm parcel was held by the same family for over 60 years.</p>
<p><span>“We were quoting $5 million, the reserve was $5 million and it sold for $5 million,” selling agent Ben Collier at The Agency said.</span></p>
<p> </p>
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Sydney clearance rates dipped into the 30's for the first time since the GFC

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<p class="post-title entry-title">EXPERT OBSERVER</p>
<p class="post-title entry-title">Reduced lending flows continue to stymie property purchases, auction volumes, new car sales, and stamp duty and transfer receipts.</p>
<p class="post-title entry-title">Total annual duty transfer receipts have been holding up due to some large non-residential transactions and off-the-plan settlements from the death throes of the apartment construction cycle.</p>
<div>But both the residential receipts and the leading indicators are now heading to Hades at warp speed, with the most timely available figures suggesting that transaction levels for established property will be at cyclical lows soon enough, if they're not there already. </div>
<p class="post-body entry-content"> </p>
<div class="separator"><a href="https://1.bp.blogspot.com/-hiBamvA1EHo/W84moY2DxEI/AAAAAAAAsgM/ch4YS1eF56Am7uOnoVaQeMujZt4_xEzoACLcBGAs/s1600/nsw.jpg"><img src="https://1.bp.blogspot.com/-hiBamvA1EHo/W84moY2DxEI/AAAAAAAAsgM/ch4YS1eF56Am7uOnoVaQeMujZt4_xEzoACLcBGAs/s640/nsw.jpg" width="640" height="366" data-original-height="795" data-original-width="1385"></a></div>
<div class="separator"> </div>
<div class="separator">The New South Wales economy has been tracking very well in recent times. </div>
<div> </div>
<div>But the key leading indicators are weakening by the month.</div>
<div> </div>
<div>Building permits and dwelling starts are dropping away, and money growth is at quarter-century lows.</div>
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The auction strangler: Pete Wargent

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<p>A total of 20,653 homes went under the hammer across Australia’s combined capital cities in the three months to September 2018 - the lowest volume of auctions recorded in a quarter since the March 2017 quarter.</p>
<p>In the March 2017 quarter 19,241 homes went to auction, according to CoreLogic data.</p>
<p>The September 2018 quarter was down from 25,824 homes auctioned over the previous June quarter, and much lower compared to the 27,953 homes that went to auction in 2017’s September Quarter although there was an extra weekend of auctions which would account for some of the difference.</p>
<p>The combined capital city clearance rate fell to 53.6% over the quarter, down - 4.2% from the previous quarter; making it the lowest quarterly clearance result since December 2012 (50.9%).</p>
<p>CoreLogic analysts noted: "Perth saw the largest increase in clearance rates over the quarter, up 5.7%, followed by Adelaide with a modest 0.1% improvement.</p>
<p>"All other capitals saw the clearance rate drop, with Tasmania recording the largest quarterly fall (down -7.1%), although low volumes in Tasmania means the clearance rate can be volatile.</p>
<p>"Canberra fell -6.6%, followed by Sydney (-5.1%) and Melbourne (-4.6%), while Brisbane showed little change over the quarter (-0.1%)."</p>
<p>The highest clearance rate was recorded over the week ending 22nd July (57.0% across 1,257 auctions), while the lowest clearance rate was recorded over the week ending 30th September (45.8% across 895 auctions).  </p>
<p><strong>Auction market review highlights:</strong></p>
<p><strong>Capital city auction clearance rate &amp; volumes</strong></p>
<table border="0"><tbody>
<tr>
<td>Sydney</td>
<td>50.9%</td>
<td>7,497 auctions</td>
</tr>
<tr>
<td>Melbourne</td>
<td>56.6%</td>
<td>9.629 auctions</td>
</tr>
<tr>
<td>Brisbane</td>
<td>42.7%</td>
<td>1,401 auctions</td>
</tr>
<tr>
<td>Adelaide</td>
<td>60.7%</td>
<td>947 auctions</td>
</tr>
<tr>
<td>Perth</td>
<td>36.9%</td>
<td>322 auctions</td>
</tr>
<tr>
<td>Tasmania</td>
<td>50.0%</td>
<td>39 auctions</td>
</tr>
<tr>
<td>Canberra</td>
<td>60.3%</td>
<td>818 auctions</td>
</tr>
<tr>
<td>Combined capitals </td>
<td>53.6%</td>
<td>20,653 auctions</td>
</tr>
</tbody></table>
<ul>
<li>Highest number of auctions for the quarter across capital city suburbs</li>
<li>Based on total auctions held across the suburb over the reporting period</li>
</ul>
<table border="0"><tbody>
<tr>
<td>Melbourne </td>
<td>Reservoir</td>
<td>175</td>
</tr>
<tr>
<td>Sydney</td>
<td>Randwick</td>
<td>99</td>
</tr>
<tr>
<td>Brisbane</td>
<td>Sunnybank Hills</td>
<td>46</td>
</tr>
<tr>
<td>Canberra</td>
<td>Ngunnawal</td>
<td>30</td>
</tr>
<tr>
<td>Adelaide</td>
<td>Prospect</td>
<td>18</td>
</tr>
<tr>
<td>Perth</td>
<td>Fremantle</td>
<td>8</td>
</tr>
</tbody></table>
<ul>
<li>Highest clearance rate for the quarter by capital city suburbs</li>
<li>Clearance rates are calculated when there has been at least 20 auction results reported over the period</li>
</ul>
<table border="0"><tbody>
<tr>
<td>Canberra</td>
<td>Narrabundah 85.7% (captured results: 21, scheduled auctions: 26, number sold: 18)</td>
</tr>
<tr>
<td>Melbourne</td>
<td>Wheelers Hill 81.4% (captured results: 43, scheduled auctions: 48, number sold: 35)</td>
</tr>
<tr>
<td> Sydney</td>
<td> Bondi 80.6% (captured results: 31, scheduled auctions: 41, number sold: 25)</td>
</tr>
<tr>
<td> Brisbane</td>
<td> Calamvale 47.8% (captured results: 23, scheduled auctions: 23, number sold: 11)</td>
</tr>
</tbody></table>
<p>Across the non-capital city markets, auction volumes fell across all five regions over the September quarter when compared to both the previous quarter and the same time last year.</p>
<p>Clearance rates have fallen over the quarter for the Sunshine Coast (-2.2%) and Geelong (-1.6%), while the Hunter, Wollongong and Gold Coast regions have all seen some improvement when compared to the previous quarter.</p>
<p>Geelong was once again the top performer for clearance rates with a 68.6% success rate across 402 auctions, while the Gold Coast hosted the most auctions over the three months to September 2018 (597).</p>
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Perth auctions notch largest increase in quarterly clearance rate: CoreLogic

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<p>Port Macquarie in New South Wales is set to be the busiest weekend auction suburb, according to CoreLogic.</p>
<p>The suburb nearly 400 kilometres has 25 dwellings set to go under the hammer.</p>
<p>It's followed by a busy Melbourne, where Richmond has 23 scheduled auctions and Camberwell 22.</p>
<p>Melbourne will be the busiest state capital with over 1,500 auctions slated.</p>
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<p><span>The Victorian capital is set to see a significant increase in activity this week after last week saw volumes fall across the city. There are expected to be over the 450 more auctions last week. </span></p>
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</div>
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</div>
<p><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/2018/3/15/auctions.jpg" alt=""></p>
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<p><span>Auction activity is set to increase this week across the combined capital cities, with 2,832 properties </span><span>scheduled to go to auction, up from last week’s final </span><span>result of 1,764 auctions held. </span></p>
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<p><span>The number of homes expected to go to auction this week is lower than volumes from over the corresponding week last year, when 2,916 auctions were held.</span></p>
<p><span>One of the priciest homes to go under the hammer in Port Macquarie is a grand family home near Ascot Park (top)</span></p>
<p>The near new home on Black Caviar Parade has a guide of $780,000 to $840,000. </p>
<p>It has four bedrooms, two bathrooms, a study and a swimming pool on its 615 sqm parcel.</p>
<p> </p>
<p><span> </span></p>
</div>
</div>
</div>
</div>
<p> </p>
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jrobinson-rf4aSBido9

Melbourne gets busy again but Port Macquarie auction activity the highest: CoreLogic's auction preview 

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<p>Based on preliminary results over the week ending 16 September, 80.8 percent of commercial auction results cleared, according to CoreLogic's latest market report.</p>
<p>A total of 26 results have been reported so far, down from 46 last week when half of all reported auctions were sold. One year ago, 107 commercial auction results were reported and 56.1 per cent were sold.</p>
<p>A total of 188 commercial auction results have been reported over the four weeks ending 16 September, with 112 sales. Of these 112 sales, 79 were reported with a sale price, totalling just over $162.3 million.</p>
<p><a href="/images/2016/09/23/Auction%20Clearance%20Graph.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/09/23/Auction%20Clearance%20Graph.jpg" alt=""></p>
<p>The table below indicates National Auction Clearance Rate figures.</p>
<p><a href="/images/2016/09/23/Auction%20Clearance%20Table.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/09/23/Auction%20Clearance%20Table.jpg" alt=""></p>
<p><strong> </strong></p>
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