Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

Auctions

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Fitzy &amp; Wippa sidekick Sarah McGilvray and her husband, Thales Group director James Couche, pulled their Balmain terrace from its recent auction.
They were hoping to flip it after the couple paid $2,040,000 just last year.
The auctioneer turned up in the rain for the early evening onsite auction, but not the bidders.
Belle Property Balmain agents Lyndsey Kemp and Kristyn Brennan had a $2.1 million guide. It is now for sale at $2.18 million.
The home (above) has three bedrooms and one bathroom on its 135 square metre parcel.
The couple have been busy renovating, even while they had their first child, William, late last year. 
The new mother, who was in London with the team for the recent Royal Wedding, joined the Nova FM team in 2016 and produces Fitzy &amp; Wippa's breakfast show.
They're opting to be closer to the North Shore where much of their family live.
The inner west's auction success rate is running at around 55 percent, with Balmain leading the declining success rate.
Last weekend the long-time Balmain home of celebrity pâtissière Adriano Zumbo failed to sell at auction.
It now has a price tag of $1.7 million.
There were four contenders at the auction, although Paul Cooper at the Coopers Agency, who is marketing the home with his son Matt, said only one had finance approval.
"Finance approvals are presently taking so much longer than in the past," Paul said.
There has been an offer at $1.7 million but subject to forthcoming approval.
The dessert king, who crafted his trade in the inner-west paid $675,000 back in 2003 after returning from a year stint working in France.
The property sits 800 metres from his flagship Balmain store which he opened in 2007. He spent some time working at the also nearby Victorie Bakerie.
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Zumbo has opened seven stores throughout New South Wales and Victoria including a concept store at The Star Casino.
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Set on 340 sqm, the home has three bedrooms, one bathroom and of course a renovated kitchen.
Paul and Matt Cooper and Coopers Agency are marketing the home that is leased until July 2019, returning over $1,000 a week.
This article was first published in the Saturday Daily Telegraph.
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firstname1-iYD4UYzvBa

Balmain auctions leave vendors waiting

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The biggest dread among vendors going to auction is that their property will be passed in on auction day.
With auction clearance rates now in the 50 percent range, and even lower in some suburbs, this is a very real likelihood.
Selling at a fair market value - or better - is often dependent on the extent of buyer numbers and enthusiasm.
One bidder auctions have become far more prevalent, as vendors lose their grip on being able to secure above reserve outcomes at their auctions across Sydney every Saturday.
There's a special negotiating skill needed for the listing agent to immediately secure a sale in such onsite circumstances.
Ofcourse the agent can knock heads together during the auction, but that will take a bit of give and take from both vendor and buyer.
Vendors certainly need to anticipate this possibility.
But should vendors accept the price drop on offer from the only buyer at the auction or are they best holding off selling until later Saturday afternoon or sometime in the next week.
It all depends on the level of actual and perceived buyer interest, starting from the number of contracts that have been issued in the run up to the auction.
Agents need to follow all their potential buyers closely, and keep their vendors in the loop.
An emerging factor has been that bank finance approvals are slower and harder to get, and many buyers are finding just days before the auction that they need to lodge more information before safely securing finance.
They necessarily sit out the auction. 
This has come about as the financial regulators and the royal commission have frightened the banks so that they are dotting all the i's and crossing every t.
Coming together for post-auction negotiations is a skill that some agents need if their vendors aren't going to sell for far less than they wish.
The biggest myth about properties that sell after auction is that they go on to sell for a poor price.
That is not the case, veteran estate agent John McGrath recently noted given that fresh buyers are coming into the market every week.
The recent clearance rate downturn has likely undermined the benefits many see in a sale by auction which typically come with the potential for a premium sale price.
Unmotivated sellers rarely auction their properties.
Stuart Benson at Benson Auctions noted at a recent realestate.com.au auctioneers' round table that his clearance rate in north west Sydney was down by 15 percent, but after six weeks on the market the sales sat around 90 percent.
Following any post auction campaign that doesn't end in a sale, it is important vendors respond to the issues that possibly caused it.
Best relook at price, presentation and/or marketing), and there is no reason to think it property won’t sell.
This article was first published in the Daily Telegraph.
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jchancellor-FAypfDUnLy

One bidder auctions need special estate agent negotiating skills 

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The home of acclaimed Australian sculptor David Ball, is up for auction.
The property is on the edge of Mittagong's Lake Alexandra.
Ball, the current winner of Bondi's Sculpture by the Sea, has added sculptural touches to the lakeside property.
<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/2018/6/18/lake1.jpg" alt="">
It is listed through Di Jones agent Daniel Garnett.
There have been renovations to the home, plus a newly designed and built steel arbour.
The property at <a href="https://www.realestate.com.au/property-house-nsw-mittagong-128455462" target="_blank">60 Alfred Street</a> will be auctioned on June 30.
It has a price guide of $990,000.
 
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Sculptor David Ball Mittagong's Lake Alexandra home for auction

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The boxing legend Johnny Famechon is downsizing from the Frankston South home he built more than four decades ago.
The double-storey, four bedroom house sits on a 2809sq m block with a pool and tennis court.
It has a price guide of $1,195,000 to $1,314,500 for its July 7 auction.
UFirst Mornington director Juan Merchan has the listing with former AFL player-turned-real estate agent Jarrad Grant.
It was built in the 1970s with Mediterranean touches, as a family home for former world featherweight boxing champion.
Famechon had been crowned world featherweight champ in 1969.
He was inducted in the Australian National Boxing Hall of Fame in 2003, having recorded 56 wins, six draws and five losses over his impressive 20-year career.
The 73-year-old was recently immortalised in a statue at Frankston’s Ballam Park.
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Boxing Legend Johnny Famechon lists Frankston South home

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The top 5 busiest suburbs for auctions this weekend are all in Melbourne, according to CoreLogic.
Topping the list with 17 homes scheduled for auction is Reservoir, followed by Craigieburn with 16, Glen Waverley and Richmond each to host 13 and South Yarra with 12.
Auction activity is set to rise across the combined capital cities this week, with the number of homes scheduled for auction more than doubling over the week after last week’s Queens’s birthday long weekend slowdown.
CoreLogic is currently tracking 1,886 capital city auctions this week, rising on last week when final figures showed 904 auctions held.
Melbourne is set to be the busiest auction market this week, with a total of 932 homes scheduled for auction, increasing on last week when a very subdued 275 homes were taken to auction on the long weekend.
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Volumes are also set to increase across Australia’s second largest auction market Sydney, with a total of 680 homes scheduled to go under the hammer this week, up on the 415 auctions held last week.
Across the smaller markets, Adelaide, Canberra and Perth are all expected to see a considerable increase in activity this week, while volumes across Brisbane are set to remain relatively steady, with Tasmania the only auction market set to see a fall in auction volumes over the week.
One upcoming auction in Reservoir is a multi-level house with views of Bundoora Park and Golf Course which priced at $859,000 to $899,000 (pictured below).
<a href="https://www.realestate.com.au/property-house-vic-reservoir-128330082" target="_blank">Located at 17 Ayr St</a>,  the house comes with four generously sized bedrooms, an additional fifth bedroom or home office on the ground level, formal lounge and large family room.
Nestled on a 767 sqm of land plus 53sqm ROW on title, it also features ducted heating/cooling, double insulated roof, alarming system and multiple garage accommodations.
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Another Reservoir two bedroom townhouse will be auctioned on Saturday priced at $550,000 to $595,000 (pictured below). 
<a href="https://www.realestate.com.au/property-townhouse-vic-reservoir-128393918" target="_blank">Positioned at 3/3 Mattea Court,</a> the townhouse features two generous size bedrooms, separate toilet at ground floor, high ceilings and hardwood floorboards.
Only 13km from Melbourne's CBD, it's just a short drive away from the Western Ring Road, the Hume Freeway and Tullamarine airport.
It is also with quick access to RMIT, La Trobe and Melbourne Universities.
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Last week saw the combined capital city auction market slowdown ahead of the Queen’s birthday public holiday, with only 904 homes taken to auction last week. The lower volumes did little to improve clearances rates last week with the weighted average declining further returning a 53.8 per cent final auction clearance rate; the fifth consecutive week of falls across the combined markets. A very difference result to what was seen one year ago, when a much higher 67.8 per cent of homes cleared at auction over the same week (1,279 auctions).
Sydney was the busiest auction market last week, outperforming Melbourne in terms of clearance rate and number of auctions. There were 415 Sydney homes taken to auction last week returning a 56 per cent success rate, increasing on the week prior when the final clearance rate dropped to 47.1 per cent; albeit volumes were considerably higher across the city.
The public holiday long weekend resulted in very low activity across Melbourne last week, with a very modest 275 homes taken to market returning a 54.9 per cent final clearance rate, decreasing significantly on the week prior when 1,079 auctions were held and 59.8 per cent cleared.
Brisbane, Perth and Tasmania all saw an improvement in clearance rates week-on-week, while Adelaide and Canberra’s final clearance rate fell.
Geelong was the best performing non-capital city region last week, with a clearance rate of 63.6 per cent across 21 auctions.
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j.ballantyne1990-6AQqhLzZaK

Melbourne has busiest five auction suburbs: CoreLogic 

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Craigieburn is the busiest Melbourne suburb on the Queens Birthday long weekend.
A clearance rate of 62 per cent was recorded this week compared to 63 per cent last week and 77 per cent this week last year. There were 975 auctions reported to the REIV, with 606 selling and 369 being passed in, 191 of those on a vendor bid.
 
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The REIV collected 95% of auction results last week with a total of 1052 results including 48 withdrawn and 29 postponed.
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One upcoming auction in Cragieburn on Saturday is a three bedroom house with an indicative selling price ranging between $470,000 to $510,000 (pictured below).
<a href="https://www.realestate.com.au/property-house-vic-craigieburn-128408738" target="_blank">Located at 25 Yarcombe Crescent</a>, it comes with three bedrooms, separate lounge, kitchen with adjoining meals area and double garage.
The house situated on a 600 sqm land is within walking distance to local bus stops, train station, schools and shops.
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Another Waterview Boulevard four bedroom house also has been scheduled for auction on June 9 with the indicative selling price ranging between $780,000 to $840,000 (pictured below).
<a href="https://www.realestate.com.au/property-house-vic-craigieburn-128345446" target="_blank">The 113 Waterview Boulevard</a> home features ducted heating, garden shed evaporative cooling, video intercom, and double garage.
The ground level consist of a master bedroom with WIR, study, and a kitchen with family size bench spaces.
Upstairs offers a kids retreat area with three good sized bedrooms, and a central bathroom.
It is just minutes from schools, parks, transport and Craigieburn Central.
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Craigieburn ranks as busiest long weekend auction locality in Victoria: REIV

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The busiest suburb for auctions this weekend is Reservoir in Victoria, with 20 homes set to go under the hammer, followed with 17 auctions scheduled in Port Macquarie in NSW and Bentleigh East in Victoria.
CoreLogic is tracking 2,121 capital city auctions this week, down slightly on last week’s 2,297 auctions held, with weekly volumes remaining relatively steady over past month while the weighted average clearance rate has continued to weaken. Over the same period one year ago, there was a considerably higher 2,578 auctions held.
As usual, Melbourne and Sydney are the two busiest capital city auction markets this week, with 990 and 791 homes scheduled to go to auction; down from last week’s final result which saw 1,132and 814 auctions held across the cities respectively.
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Auction activity is expected to be lower week-on week across Brisbane, Perth and Tasmania, while Adelaide and Canberra are expected to be the only capital cities this week to see a rise in volumes.
A Reservoir two bedroom unit priced at $550,000 - $600,000 has been scheduled for auction on June 2 (pictured below).
It is offered by Andrew Montalto and Lillian Akkari from Hockingstuart.
<a href="https://www.realestate.com.au/property-unit-vic-reservoir-128288882" target="_blank">Situated at 1/116 Boldewood Parade, Resevoir,</a> the unit comes with two bedrooms,  living area adjoined by a dining space and a kitchen, and secure single garage. 
It is close to Broadway shops, public transport, the recreation facilities of Gibson Reserve and bike paths by Darebin Creek.
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Another scheduled auction on Saturday is a Port Macquarie four bedroom house with a price guide of $660,000 to $710,000 (pictured below).
It is listed by Jenny Magill from Percival Property. 
<a href="https://www.realestate.com.au/property-house-nsw-port+macquarie-128208890" target="_blank">Located at 12 Cathie Rd,</a> the house on a 1270 sqm elevated lot features four bedrooms,  spacious dining/lounge room, enclosed patio and game room.
It is just a five minute walk to Emerald Downs Shopping Centre and tavern, and only a five minute walk to Watonga Street shopping precinct.
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Summary of Last Week’s results
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The combined capital city final auction clearance rate fell to 56.2 per cent last week; the third consecutive week where the combined weighted average has progressively declined. There were 2,297 homes taken to market which was only slightly higher than the week prior when 2,100 auctions were held and 56.8 per cent cleared. The last time clearance rates were tracking at a similar level was in early 2013 when volumes were less comparable over what was the January low period (667).
There were 1,132 Melbourne homes taken to market last week, increasing on the 1,033 over the week prior. The higher volumes saw the final clearance rate drop below 60 per cent, with 59 per cent of auctions successful down on the 62 per cent the previous week.
In Sydney, both auction volumes and the final clearance rate increased last week, with 814 auctions held returning a final auction clearance rate of 56.1 per cent, which was higher than the 54 per cent over the previous week when 672 auctions were held across the city.
Adelaide, Canberra and Perth all saw a week-on-week improvement in clearance rates, while Brisbane and Tasmania’s clearance rate fell.
Across the non-capital city regions, the highest clearance rate was recorded across the Hunter region, with 72.4 per cent of the 54 auctions successful.
 
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Reservoir ranks again as busiest weekend auction suburb

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The 2018 autumn selling season saw fewer bidders at its weekend auctions, which triggered a marked decline in clearance rates along with property prices beginning to fall.
On the final Autumn weekend, agents secured a national clearance rate of 59.7 per cent, according to CoreLogic, which was well down on summer's final weekend when 70.5 per cent of stock was sold in late February.
The gardening guru television host Brendan Moar is among the last minute Autumn listings with his Camperdown going to auction next weekend, before the cyclical winter listings hibernation takes effect from the June Queens Birthday long weekend.
Moar's four bedroom home is a fusion of futuristic modernist styles, according to the marketing by the BresicWhitney Glebe agents Chris Nunn and Nick Playfair.
They describe the home as a one-off poolside entertainer spanning three levels. 
A top floor master retreat comes with its own roof garden.
Moar paid $1,265,000 in 2009 for the home that is scheduled for June 2 auction with a price guide of $2.5 million.
The garden recently featured on The Living Room on Channel 10.
Sydney had the nation's dearest weekend result. It was a parkside lagoon four bedroom house at Manly (top).
The <a id="x_mcntLPlnk590898" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/sold/property-house-nsw-manly-128275026" target="_blank" rel="noopener noreferrer">53 Eurobin Avenue offering</a> sold to a Singaporean, according to Fairfax Media, for $4.615 million just above its $4.5 million expectations through Clarke and Humel agent Michael Clarke.
Melbourne had the nation's cheapest sale.
The $225,000 sale was a <a id="x_mcntLPlnk235819" class="x_mcntOWAAutoLink" href="https://www.realestateview.com.au/real-estate/20-16-south-circular-road-gladstone-park-vic/property-details-buy-residential-11831239/" target="_blank" rel="noopener noreferrer">one bedroom unit at Gladstone Park</a>. The 20/16 South Circular Road offering (below) last sold in 2016 at $185,000. It had been listed with $190,000 to $209,000 price guidance.
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It was offered on a secure fixed lease until January 2019 at $978 per calendar month. It comes with a covenant stating that its occupier - but not necessarily its owner - must be 55 years of age or older, the marketing agent advised.
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The most expensive Melbourne house was Granada, a five bedroom house at St Kilda (below). The <a id="x_mcntLPlnk541754" class="x_mcntOWAAutoLink" href="https://www.realestateview.com.au/real-estate/28-eildon-road-st-kilda-vic/property-details-sold-residential-11835567/" target="_blank" rel="noopener noreferrer">28 Eildon Road</a> property, a 1928 architect designed five bedroom Spanish Mission trophy home, sold through Marshall White for $4 million.
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The buyers guide was $2.7 million to $2.9 million, with the property announced on the market at $3 million.
It last sold at $885,000 in 1998.
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<div class="x_mcntcq-article-content-media x_mcntsection">Adelaide recorded the highest capital city clearance rate of 66 percent, with only 31 percent of homes sold in Perth.</div>
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<div class="x_mcntcq-article-content-media x_mcntsection">Melbourne recorded a preliminary clearance rate of 60 per cent.</div>
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<div class="x_mcntcq-article-content-media x_mcntsection">Sydney, with 808 auctions held across the city, returned a 62 per cent preliminary clearance rate.</div>
<div class="x_mcntcq-article-content-media x_mcntsection"> </div>
<div class="x_mcntcq-article-content-media x_mcntsection">Click here <a href="https://www.propertyobserver.com.au/images/2018/5/28/May28_auctions.jpg" target="_blank">to enlarge.</a>
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<div class="x_mcntcq-article-content-media x_mcntsection">CoreLogic auction analyst Kevin Brogan expected final results to be lower after unreported auctions were added to the calculation.</div>
<div class="x_mcntcq-article-content-media x_mcntsection"> </div>
<div class="x_mcntcq-article-content-media x_mcntsection">AMP Capital chief economist Shane Oliver told Domain that finalised clearance rates in the low 50 per cent range had been historically associated with falling prices.</div>
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<table border="0" cellspacing="0" cellpadding="5"><tbody>
<tr id="x_rpMostExpensive_trMostExpensiveRow_0">
<td id="x_rpMostExpensive_tdMostExpensiveCity_0" align="left">Sydney</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_0" colspan="2">53 Eurobin Av, Manly NSW 2095, 4 br House, Clarke &amp; Humel Property Management Pty Ltd</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_0">$4,615,000</td>
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<td id="x_rpMostExpensive_tdMostExpensiveCity_1" align="left">Melbourne</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_1" colspan="2">28 Eildon Rd, St Kilda VIC 3182, 5 br House, Marshall White Bayside</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_1">$4,000,000</td>
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<tr id="x_rpMostExpensive_trMostExpensiveRow_2">
<td id="x_rpMostExpensive_tdMostExpensiveCity_2" align="left">Adelaide</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_2" colspan="2">9 Owen St, Goodwood SA 5034, 3 br House, Klemich Real Estate - RLA174424</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_2">$1,010,000</td>
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<tr id="x_rpMostExpensive_trMostExpensiveRow_3">
<td id="x_rpMostExpensive_tdMostExpensiveCity_3" align="left">Brisbane</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_3" colspan="2">107 Upper Lancaster Rd, Ascot QLD 4007, 4 br House, RW Ascot</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_3">$1,550,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_4">
<td id="x_rpMostExpensive_tdMostExpensiveCity_4" align="left">Canberra</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_4" colspan="2">9 Warramoo Cr, Narrabundah ACT 2604, 5 br House, Belle Property Kingston</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_4">$1,578,000</td>
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<td colspan="2">
Most affordable
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<td colspan="2"> </td>
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<td id="x_rpMostAffordable_tdMostAffordableCity_0" align="left">Sydney</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_0" colspan="2">20/68 Bayswater Rd, Rushcutters Bay NSW 2011, 0 br Studio, Laing+Simmons Potts Point</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_0">$436,000</td>
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<tr id="x_rpMostAffordable_trMostAffordableRow_1">
<td id="x_rpMostAffordable_tdMostAffordableCity_1" align="left">Melbourne</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_1" colspan="2">20/16 South Circular Rd, Gladstone Park VIC 3043, 1 br Unit, Barry Plant Gladstone Park</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_1">$225,000</td>
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<td id="x_rpMostAffordable_tdMostAffordableCity_2" align="left">Adelaide</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_2" colspan="2">11 McNamara St, Modbury Heights SA 5092, 3 br House, Weeks &amp; Macklin</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_2">$310,000</td>
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<tr id="x_rpMostAffordable_trMostAffordableRow_3">
<td id="x_rpMostAffordable_tdMostAffordableCity_3" align="left">Brisbane</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_3" colspan="2">55 Bestman Av, Bongaree QLD 4507, 2 br House, RW Bribie Island</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_3">$490,000</td>
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<td id="x_rpMostAffordable_tdMostAffordableCity_4" align="left">Canberra</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_4" colspan="2">26/126 Thynne St, Bruce ACT 2617, 2 br Unit, LJH Belconnen</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_4">$344,000 
</td>
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</tbody></table>
SOURCE APM
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Autumn auctions sees price fall as clearance rate declines

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EXPERT OBSERVATION

With the advent of lower clearance rates, we are seeing more Melbourne auctions ending in a pass in.

A “pass in” occurs when the bidding at an auction does not reach the vendor’s reserve and, as such, the auctioneer having failed to illicit a high enough bid, passes the property in and according to the rules of the auction, must negotiate with the highest bidder first. 

If you have been to many auctions, you will probably have heard the auctioneer open up the auction with a “vendor bid”.

This is a bid, made by the auctioneer, on behalf of the vendor, quite often, to kick things off and get the bidding started.

But it is sometimes used by auctioneers to advance the bidding if they have only one bidder.

In other words, a bidder from the crowd bids $600,000 and nobody else says anything, so the auctioneer will bid $650,000 “Vendor Bid” and then ask the original bidder to go over the top. 

Now the auctioneer will say things like, only the top bidder gets the lawful right of first negotiation and as the Vendor Bid is the highest, then nobody has this right.

This is totally incorrect and a total lie.

The highest “real bid” from the audience does have the first right to negotiate with the vendor. 

In both 2012 and again in 2016 the Real Estate Institute of Victoria analysed the rules and publicly acknowledged that if a genuine bid had been made, that no vendor bid could be used to remove the right to first negotiation. 

<a href="https://www.consumer.vic.gov.au/housing/buying-and-selling-property/selling-property/selling-property-by-auction" target="_blank">Consumer Affairs Victoria </a>have also addressed this exact situation and on their website has said that the highest bidder has the first right too negotiate with the vendor.

This includes if the property is passed in on a vendor bid.

So, if you are bidding anywhere in Victoria on Saturday and you have the highest bid, and the auctioneer tries to remove your right of first negotiation by continually vendor bidding over you, call him out.

If you are the highest “real” bid you do have the first right to negotiate ahead of anyone else.

Ian James is a director at JPP Buyer Advocates

<h2>Recently listed properties in Melbourne:</h2>

[smartcode_project:default project_id=3565]

[smartcode_project:default project_id=4939]

[smartcode_project:default project_id=22699]
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Don't get fooled by a vendor bid, Victorian bidders have rights: Ian James

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All of the busiest suburbs for auctions on the weekend were in Victoria. Reservoir topped the list with 19 homes set to go under the hammer, followed by Bentleigh East and Mount Waverley with 14 auctions each.
A Reservoir four bedroom house with hopes for over $1 million (above) sold for $1.26 million.
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<a href="https://www.realestate.com.au/property-house-vic-reservoir-128199090" target="_blank">Located at 29 Queen St</a>, Reservoir, the house with city skyline with comes with four generous bedrooms, formal lounge, kitchen/meals with stainless steel cooker and adjoining living room.
Other features include gas heating and ducted evaporative cooling, wood heater (living room), high ceilings, laundry, and large storeroom/kitchenette.
It is within walking distance to buses, Regent Station and Plenty Road trams, local cafes and parks, and Preston Primary School. 
There was a higher sale at $1,332,000 according to the REIV.
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<td>2 Ashton St, RESERVOIR</td>
<td>2</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/19d3ef48.jpg"></td>
<td>House (Res)</td>
<td>Passed in at Auction</td>
<td>19/05/2018</td>
<td>Barry Plant</td>
<td> </td>
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<td>36 Callander St, RESERVOIR</td>
<td>3</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/560a5051.jpg"></td>
<td>House (Res)</td>
<td>Passed in at Auction</td>
<td>19/05/2018</td>
<td>Ray White</td>
<td> </td>
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<td>2/15 Cheddar Rd, RESERVOIR</td>
<td>2</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/259295.jpg"></td>
<td>Unit</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>Ray White</td>
<td> </td>
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<td>30 Dawson St, RESERVOIR</td>
<td>5</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/9f6c6038.jpg"></td>
<td>House (Res)</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>Ray White</td>
<td> </td>
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<td>23 Kia Ora Rd, RESERVOIR</td>
<td>3</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/ab4503cd.jpg"></td>
<td>House (Res)</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>Nelson Alexander</td>
<td> </td>
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<td>21 Lloyd Av, RESERVOIR</td>
<td>3</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/19d3ef48.jpg"></td>
<td>House (Res)</td>
<td>Passed in at Auction</td>
<td>19/05/2018</td>
<td>Nelson Alexander</td>
<td> </td>
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<td>2/6 Mccrae St, RESERVOIR</td>
<td>2</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/953d8ea5.jpg"></td>
<td>Unit</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>Barry Plant</td>
<td> </td>
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<td>27 Moira Av, RESERVOIR</td>
<td>4</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/c492629f.jpg"></td>
<td>House (Res)</td>
<td>Passed in Vendor Bid</td>
<td>19/05/2018</td>
<td>Nelson Alexander</td>
<td> </td>
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<td>791 Plenty Rd, RESERVOIR</td>
<td>3</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/ddd9262b.jpg"></td>
<td>House (Res)</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>Love &amp; Co</td>
<td> </td>
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<td>3/90 Purinuan Rd, RESERVOIR</td>
<td>2</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/5e91fe25.jpg"></td>
<td>Unit</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>Ray White</td>
<td> </td>
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<td>29 Queen St, RESERVOIR</td>
<td>4</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/9e344320.jpg"></td>
<td>House (Res)</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>Nelson Alexander</td>
<td> </td>
</tr>
<tr>
<td>2/214 Spring St, RESERVOIR</td>
<td>2</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/d6f4f25d.jpg"></td>
<td>Unit</td>
<td>Passed in at Auction</td>
<td>19/05/2018</td>
<td>Stockdale &amp; Leggo Reservoir</td>
<td> </td>
</tr>
<tr>
<td>47 Wattle Gr, RESERVOIR</td>
<td>3</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/ceac3eb8.jpg"></td>
<td>House (Res)</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>LJ Hooker South Morang</td>
</tr>
</tbody></table>
A clearance rate of 64 per cent was recorded on the weekend compared to 63 per cent last weekend and 80 per cent this weekend last year. 
There were 798 auctions reported to the REIV, with 512 selling and 286 being passed in, 153 of those on a vendor bid.
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