<p>Construction has commenced&nbsp;<a href="https://www.apartments.com.au/new-apartments/kew-palm-house-bellevue-hill-88-birriga-road-bellevue-hill-nsw-2023">Kew Palm House</a>, marking a significant milestone for the boutique Bellevue Hill apartment project on one of the suburb's best streets.</p>

<p>Developer <a href="https://www.apartments.com.au/developers/kew">KEW</a> recently hosted the traditional ground-breaking ceremony, joined by key project partners, officially turning the soil on what will become one of Bellevue Hill's most impressive new developments in one of&nbsp;Sydney’s most tightly held residential markets.</p>

<p>[smartcode_project:default project_id=133966 project_image_fid=352214]</p>

<p>Set across two low-rise buildings on the dress circle Birriga Road, Kew Palm House will deliver a mix of 16 two-, three-, and four-bedroom residences, including whole-floor homes and penthouses, responding to sustained demand from downsizers and owner-occupiers seeking high-quality apartment living without leaving the suburb.</p>

<p>The project occupies an amalgamated 3,000 sqm site bordering the Royal Sydney Golf Club, a rarity for new apartment development in <a href="https://www.apartments.com.au/developments/bellevue-hill-nsw-2023">Bellevue Hill</a>.</p>

<p>Architecture by Woods Bagot takes a townhome-inspired approach, with finely detailed façades and layered massing designed to sit comfortably within the established streetscape.</p>

<p>[smartcode_project:default project_id=133966 project_image_fid=352216]</p>

<p>The buildings are surrounded by landscaped gardens by <a href="https://www.apartments.com.au/landscape-architect/dangar-barin-smith">Dangar Barin Smith</a>, with communal pathways leading to a pool house and shared alfresco spaces intended to support a quieter, more residential form of apartment living.</p>

<p>Interiors will feature natural materials including travertine, stone and engineered timber, alongside V-ZUG kitchen appliances, with layouts prioritising generous proportions, privacy and indoor-outdoor connection.</p>

<p>Each residence has been designed to maximise natural light while maintaining separation from neighbouring homes.</p>

<p>[smartcode_project:default project_id=133966 project_image_fid=352222]</p>

<p>Kew Palm House forms part of KEW’s growing Eastern Suburbs portfolio under the Positive Investment Enterprise group. It follows the completion of Kew Bondi on Bondi Road, with Kew Hillcrest in Rose Bay also currently under construction. Palm House reflects the developer’s longer-term commitment to Bellevue Hill, where opportunities for new, design-led apartment projects remain limited.</p>

<p>Kew Palm House is targeting completion in late 2027, with construction to be delivered by Harvestland Construction. KEW also has Kew Hillcrest in Rose Bay under construction, just five luxury apartments near the beach.</p>

<p>[smartcode_project_cta:default project_id=133966]</p>


Staff Writer

Construction commences at Kew Palm House in Bellevue Hill

<p>Brisbane-based <a href="https://www.apartments.com.au/developers/spyre-group">Spyre Group</a> is continuing to bolster its impress SEQ development pipeline with one of its most ambitious projects to date.</p>

<p>The developer, led by Daniel Laruccia and Andrew Malouf, is planning just over 300 apartments across three towers on the prized beachfront side of Main Beach Parade in Main Beach.</p>

<p>The prized 3,344 sqm site at&nbsp;<a href="https://www.apartments.com.au/new-apartments/3640-main-beach-parade-main-beach-qld-4217">3640-3642 Main Beach Parade</a> also fronts Stafford and Montgomery Avenue and will offer street-level hospitality.</p>

<p><img alt="3640 Main Beach Parade, MAIN BEACH QLD 4217" data-entity-type="file" data-entity-uuid="18bfcdb3-b958-4b20-a85b-c61e3dbf81b9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Spyre%20DA%20pers.png?VersionId=QvGNOHg6KDoScJZw2nAkvbun0DT2gUn1" /></p>

<p>The project has been designed by New Zealand-based architecture firm Monk Mackenzie, whose scheme references the fluidity of coastal forces. The smallest tower will be 37 storeys, with the other two topping out at 41 storeys. The sculptural form intends to "resonate with the site's unique peninsular position between the Coral Sea and the Broadwater."</p>

<p>The southernmost tower will have just 59 four-bedroom apartments, above two food and drinks venues. Towers two and three, the tallest, will have 125 two- and three-bedroom apartments in each.</p>

<p>“The towers stand not in opposition to the dynamic coastal landscape, but in dialogue with it,” the architects wrote in their Design Report.</p>

<p>“Like tide posts embedded in sand, they register change. The movements of water, light, air, and human circulation gather and disperse around them”.</p>

<p><img alt="3640 Main Beach Parade, MAIN BEACH QLD 4217" data-entity-type="file" data-entity-uuid="cb2f3eb7-c517-47e5-afc8-01685c658a82" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/spyre%20podium.png?VersionId=hYe0w7UBEVNY7LPcoK9PnO9myEGn_xES" /></p>

<p>The podiums of each tower will feature landscaped communal open spaces, pools, and active wellness zones with spas, saunas and gyms with outdoor areas, as well a cinema and dining spaces.</p>

<p>Spyre's application describes the site as “uniquely positioned” to accommodate such scale, noting its separation from other towers, underutilised status, and alignment with the Gold Coast’s Light Rail Urban Renewal overlay. The staging strategy allows the towers to be delivered independently. Before it's amalgamation to make it a larger site, Spyre had approved plans for MARI, a 19-storey building with 15 apartments</p>

<p><img alt="3640 Main Beach Parade, MAIN BEACH QLD 4217" data-entity-type="file" data-entity-uuid="ef40ca57-1c77-4568-a8aa-91c742334bef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/spyre%20amenities.png?VersionId=BcaHvU4UeLkabtNlqydmvkuTEyuYmpft" /></p>

<p data-end="365" data-start="88">Spyre’s wide-ranging portfolio includes Watts &amp; Wright in Bulimba, Moray House in New Farm, and ARC Residences in Toowong, all of which are approaching completion. It also includes Hampden Ltd in Melbourne’s Bayside, marking the company’s first project in Victoria’s capital.</p>

<p data-end="629" data-start="372">Spyre has previously achieved significant success on the Gold Coast, setting region-breaking records at Glass House by Spyre in Burleigh Heads, where apartments sold for $24 million and $24.54 million. Cala Dei in Coolangatta also sold out in record time.</p>

<p data-end="726" data-start="636">Spyre will soon launch Echo by Spyre, a boutique development of just nine villas in Tugun.</p>


Joel Robinson

Spyre's three-tower beachfront plans for Main Beach

<p>IPM Property is progressing plans for its third development in Mona Vale in Sydney's Northern Beaches, and its latest will be the biggest yet.</p>

<p>IPM, led by Steven Sroba and Chris Webster, has filed a State Significant Development Application to the NSW Government's Housing Delivery Authority for 82 apartments on a prime 6,122 sqm site stretching across <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and just under 800m from Mona Vale town centre.</p>

<p>They've had <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> draw up the plans for the three-building development which will offer a mix of 26 two-bedroom units and 56 three-beds with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a>.</p>

<p>According to the Design Report by PBD, the built form "responds to the site’s natural fall, solar orientation, and established vegetation, creating a layered architectural expression that balances scale, materiality, and landscape”.</p>

<p><img alt="159-167 Darley Street West, Mona Vale" data-entity-type="file" data-entity-uuid="44040ed2-13c6-4f18-8326-a51467cb8532" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Mona%20vale%20pers.png?VersionId=4H1gEiyyCX2yT_fYV6kAdWaaVlCttC6P" /></p>

<p>The proposal aims to maximise passive design outcomes, with the site’s northern orientation supporting solar access and cross-ventilation. Building footprints have been shaped to preserve high-retention trees and accommodate an overland flow path, which runs diagonally through the rear of the site.</p>

<p>The development includes several sustainability initiatives, such as full electrification, EV charging provisions, and generous communal open spaces integrated across the ground and rooftop levels. As outlined in the planning documents, the buildings have been stepped in both plan and elevation to reduce bulk and provide separation to adjacent dwellings, in line with the Apartment Design Guide and local controls.</p>

<p data-end="240" data-start="66">The project site falls just within the 800-metre radius covered by the NSW Government’s Low and Mid-Rise Housing Reforms, which entered their second stage in February 2025. These reforms introduce specific planning controls that significantly increase the potential for medium-density housing growth within 800 metres of the Mona Vale town centre.</p>

<p><img alt="159-167 Darley Street West, Mona Vale" data-entity-type="file" data-entity-uuid="5df61e6d-0696-4c1e-81c2-8d3535228878" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_9.png?VersionId=vWjI2oCZhAkCPKv4xMEVLdVNkn.keD6_" /></p>

<p data-end="449" data-start="73">IPM has been active in the local market for several years. Its recent projects include Maya on Bungan Street near the town centre, a 33-apartment development completed in late 2024, and Iluka on beachfront Golf Avenue, a boutique project of just 14 apartments. Iluka set a local record in 2021 when a full-floor, three-bedroom apartment sold off the plan for $4.775 million.</p>

<p data-end="727" data-start="456">Nearby in Palm Beach, IPM is also delivering Snappermans, a collection of just five luxury apartments designed by Koichi Takada Architects, located steps from Pittwater. The developer has also recently completed Como Coogee, a 20-apartment development on Carrington Road.</p>


First look: IPM plans third Mona Vale project

<p>With demand for high-quality family homes in the inner west continuing to rise, young families are increasingly turning to new forms of multi-generational living.</p>

<p>At <a href="https://www.apartments.com.au/buildings/ashbury-terraces-ashbury-165-171-milton-street-ashbury-nsw-2193">Ashbury Terraces</a>, Nikki Pham and Danny Lai are among the growing number of residents choosing the precinct for its space, design integrity and strong sense of community.</p>

<p>For Nikki and Danny, purchasing a three-storey terrace was about securing a long-term home for their young family. Having spent most of their lives in the inner west, they first discovered the project while it was under construction.</p>

<p>“We walked past and had a look during the build and instantly felt the vibe. It had everything we were looking for,” said Nikki.</p>

<p>A return to green, open spaces was a major drawcard after living closer to the CBD.</p>

<p>“We like going for walks, and here it feels like a mini oasis while still being central to everything we need,” she said.&nbsp;</p>

<p>[smartcode_project:default project_id=112253 project_image_fid=354944]</p>

<p>Inside, the couple were immediately drawn to the craftsmanship.&nbsp;</p>

<p>“I love the Calacatta marble and timber detailing. If I’d designed it myself, these are exactly the fittings and fixtures I would have picked,” Nikki said. “There’s actually very little I’d change.</p>

<p>“We’ve found the craftsmanship has been great and I believe the beautiful arches and curves, including on our stunning staircase, are all made by hand.”</p>

<p>Since moving in with their seven-month-old baby in mid-August, the family has been making the most of the amenities, especially the pool.&nbsp;</p>

<p>“We love using the shallow area with the baby. It’s great for kids, and the sunbeds are perfect when it’s not too hot,” Danny said.</p>

<p>[smartcode_project:default project_id=112253 project_image_fid=354939]</p>

<p>The home features kitchen, living and dining areas on the ground floor with courtyard access to the pool, two bedrooms and a study on the middle level, and a master suite on the top floor. The proximity to local parks, childcare, and schools also made it an easy choice.</p>

<p>Nikki has noticed the project is sparking interest from the extended families of new residents.&nbsp;</p>

<p>“Several of our neighbour’s parents have now bought here too. It’s ideal for multi-generational living because everyone has their own space but you’re still close by.”</p>

<h2>A growing trend in the inner west</h2>

<p>Aras Labutis, Head of Urban Transformations at <a href="https://www.apartments.com.au/developers/coronation-property">Coronation Property</a>, said families like Nikki and Danny’s reflect a broader shift.</p>

<p>“Ashbury Terraces was designed for families at different life stages who want to stay connected to the inner west, including multi-generational households," Labutis said.</p>

<p>"Some terraces even include lifts, which make them ideal for older residents who want to remain independent while living close to children or grandchildren."</p>

<p>[smartcode_project:default project_id=112253 project_image_fid=354936]</p>

<p>Recent ABS data shows around one in five Australian households is now multigenerational, following a 22 per cent rise in the five years to 2021.</p>

<p>“The demand we’re seeing aligns with broader national data showing ongoing growth in multi-generational living as families look for practical, long-term solutions in well-connected suburbs.”</p>

<h2>Milton Estate launches as the precinct’s next chapter</h2>

<p>Following this strong response, Coronation is now registering expressions of interest for Milton Estate, the next evolution of the precinct. Strong sales and sustained interest in family-focused inner west homes have underpinned the decision to bring this next stage to market sooner than anticipated.&nbsp;</p>

<p>[smartcode_project:default project_id=112253 project_image_fid=358839]</p>

<p>The new collection continues the same design principles, quality materials, heritage sensitivity and family-focused layouts, and its launch reflects demand from both local buyers and extended families who want to remain part of the growing community at Ashbury Terraces.</p>

<h2>A new neighbourhood taking shape</h2>

<p>Designed by award-winning architects <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, and brought to life with landscaping by <a href="https://www.apartments.com.au/landscape-architect/360-degrees-landscape">360 Degrees</a>, Ashbury Terraces comprises 136 residences across five low-rise buildings, supported by amenities including a pool, gym and landscaped communal spaces.</p>

<p>For Nikki and Danny, it already feels like a place to grow for years to come.</p>

<p>“We’ve found great childcare nearby, and Ashbury Primary and Trinity Grammar are within easy reach. There are other excellent public and private school options too,” Nikki said.</p>

<p>“It’s hard to find something like this in the Inner West,” she added. “It’s certainly unique in <a href="https://www.apartments.com.au/developments/ashbury-nsw-2193">Ashbury</a>. We’ve got everything we need here and it already feels like home.”</p>

<p>[smartcode_project_cta:default project_id=112253]</p>


Ashbury Terraces proves a perfect fit for growing families and multi-generational living

<p>An exclusive collection of luxury Sky Homes featuring sweeping water views, each with their own private rooftop terrace and marina berth, are part of the latest release at Lewis Land’s visionary <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplanned community.&nbsp;</p>

<p>The Sky Homes, which sit within the Signature Collection, have been designed by&nbsp;<a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>&nbsp;and&nbsp;feature contemporary light-filled coastal interiors, accented by natural textures of timber and stone. The homes range from 282 sqm to 367sqm and offer three bedrooms, three bathrooms, multiple living zones, three car parks, large private balconies, and their own rooftop terraces. &nbsp;</p>

<p>[smartcode_project:default project_id=113271 project_image_fid=359204]</p>

<p><a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the three double-storey Sky Homes occupying the &nbsp;upper levels of The Waterline apartment building formed part of the masterplan’s Signature Collection of &nbsp;luxury residences. &nbsp;</p>

<p>“The exclusive Sky Homes are more than penthouses, they are double-storey homes featuring expansive living spaces and outdoor terraces,” Mr Long said.&nbsp;</p>

<p>“Located on levels five and six of The Waterline, each Sky Home includes its own private marina berth with direct Broadwater access and carefully curated high-end finishes throughout.”&nbsp;</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=113271 project_image_fid=359206]</p>

<p>The launch of The Signature Collection coincides with the milestone topping out of The Waterline, the first of three residential collections being delivered in the first stage of Harbour Shores.&nbsp;</p>

<p>Residents will also have access to a private pool and other resident-only amenities including a large &nbsp;lagoon pool, social clubhouse, tennis court, gym, yoga and sauna facilities. &nbsp;</p>

<p>Prices for the Sky Homes start from $3.65 million. &nbsp;</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=113271 project_image_fid=290031]</p>

<p>The Signature Collection also features The Residences, an exclusive release of six premium waterfront villas, positioned directly on the 1.2km waterfront boardwalk.&nbsp;</p>

<p>The Residences offer more than 350 sqm of contemporary living with premium finishes throughout and &nbsp;dining spaces that flow seamlessly to the outdoor entertaining area on the ground floor. Each have their own private plunge pool overlooking the water, and a private marina berth.</p>

<p>All villas include two secure car parks and residents have access to the extensive amenities within the broader precinct. Prices start from $3.05 million. &nbsp;</p>

<p>[smartcode_project:default project_id=113271 project_image_fid=290030]</p>

<p>Harbour Shores is a resort-style community focused on lifestyle and wellness where neighbourhoods &nbsp;are connected by extensive landscaping, green spaces and pedestrian networks, including a 1.2- kilometre waterfront boardwalk.&nbsp;</p>

<p>Boasting a 6 Star Green Star Communities V1.1 rating, the highest level of sustainability of any project &nbsp;on the Gold Coast, Harbour Shores will deliver more than 2,000 homes over the next decade.&nbsp;</p>

<p>Colliers is marketing Harbour Shores, and has seen significant demand from local owner-occupiers.</p>

<p>[smartcode_project_cta:default project_id=113271]</p>


Lewis Land unveils Harbour Shores’ double-storey sky homes with private marina berths

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>
<div> </div>
<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>
<div> </div>
<div>For units the median price of property sold at auction was up from $900,000 a year earlier to $940,250.  </div>
<div> </div>
<div>But still very muted activity levels overall.<br><br>
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<div class="separator"><a href="https://1.bp.blogspot.com/-tdYEYYMIQf4/W8sPXWtFGmI/AAAAAAAAsfQ/itzoovEdQEAk5yPympoK2dMTmfGq0nehACLcBGAs/s1600/IMG_9038.PNG"><img src="https://1.bp.blogspot.com/-tdYEYYMIQf4/W8sPXWtFGmI/AAAAAAAAsfQ/itzoovEdQEAk5yPympoK2dMTmfGq0nehACLcBGAs/s640/IMG_9038.PNG" width="640" height="414" data-original-height="856" data-original-width="1323"></a></div>
<br><div>Melbourne's clearance rate is also now well under 50 per cent. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">ALP in the ascendancy</span></strong></div>
<div> </div>
<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>
<div> </div>
<div>I'll post an online workshop on this very subject this week, so keep an eye out for that. </div>
<div> </div>
<div class="separator"><a href="https://2.bp.blogspot.com/-uhtiHFK-Yf0/W8sPktoSeKI/AAAAAAAAsfU/zEj4wSRFeeY2T0B-aQ0Vl8ECDHMcaHe5wCLcBGAs/s1600/gavel-3577254_1920.jpg"><img src="https://2.bp.blogspot.com/-uhtiHFK-Yf0/W8sPktoSeKI/AAAAAAAAsfU/zEj4wSRFeeY2T0B-aQ0Vl8ECDHMcaHe5wCLcBGAs/s640/gavel-3577254_1920.jpg" width="640" height="352" data-original-height="880" data-original-width="1600"></a></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>
<div> </div>
<div>Yes, it's a problem.</div>
<div> </div>
<div>No, it's not been getting worse.</div>
<div> </div>
<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>
<div> </div>
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<div>Yes, there is more work to be done (literally so in this case!).</div>
<div> </div>
<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>
<div> </div>
<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>
</div>
<div> </div>
<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>
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<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>
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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>
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<div class="separator">The New South Wales economy has been tracking very well in recent times. </div>
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<div>But the key leading indicators are weakening by the month.</div>
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<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>
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<td>Sydney</td>
<td>50.9%</td>
<td>7,497 auctions</td>
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<td>Melbourne</td>
<td>56.6%</td>
<td>9.629 auctions</td>
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<td>Brisbane</td>
<td>42.7%</td>
<td>1,401 auctions</td>
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<td>Adelaide</td>
<td>60.7%</td>
<td>947 auctions</td>
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<td>Perth</td>
<td>36.9%</td>
<td>322 auctions</td>
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<td>Tasmania</td>
<td>50.0%</td>
<td>39 auctions</td>
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<td>Canberra</td>
<td>60.3%</td>
<td>818 auctions</td>
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<td>Combined capitals </td>
<td>53.6%</td>
<td>20,653 auctions</td>
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<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>
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<td>Melbourne </td>
<td>Reservoir</td>
<td>175</td>
</tr>
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<td>Sydney</td>
<td>Randwick</td>
<td>99</td>
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<td>Brisbane</td>
<td>Sunnybank Hills</td>
<td>46</td>
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<td>Canberra</td>
<td>Ngunnawal</td>
<td>30</td>
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<td>Adelaide</td>
<td>Prospect</td>
<td>18</td>
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<td>Perth</td>
<td>Fremantle</td>
<td>8</td>
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<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>
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<td>Canberra</td>
<td>Narrabundah 85.7% (captured results: 21, scheduled auctions: 26, number sold: 18)</td>
</tr>
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<td>Melbourne</td>
<td>Wheelers Hill 81.4% (captured results: 43, scheduled auctions: 48, number sold: 35)</td>
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<td> Sydney</td>
<td> Bondi 80.6% (captured results: 31, scheduled auctions: 41, number sold: 25)</td>
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<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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<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>
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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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