<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.

"Eight residences is exceptionally boutique, but that's precisely what this site calls for.

“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

Auctions

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Auction volumes have increased across all but one of the capital cities this week with a total of 2,759 homes taken to auction, making it the busiest week for auctions since the end of May.
So far, 2,226 results have been reported to CoreLogic, returning a preliminary clearance rate of 70.7 per cent, up from last week’s final clearance rate of 66.7 per cent across 2,510 auctions according to CoreLogic’s latest report..
<a href="https://www.propertyobserver.com.au/images/2017/09/24/Screen%20Shot%202017-09-24%20at%2011.57.48%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/24/Screen%20Shot%202017-09-24%20at%2011.57.48%20am.jpg" alt="">
The final clearance rate across the combined capital cities has been holding around 66 per cent for the last 3 weeks so it will be interesting to see if this is the case again on Thursday once the remaining results have been collected.
One year ago, the final auction clearance rate was recorded at 75.4 per cent and there were 2,480 auctions held across the capital cities.
<a href="https://www.propertyobserver.com.au/images/2017/09/24/Screen%20Shot%202017-09-24%20at%2011.57.58%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/24/Screen%20Shot%202017-09-24%20at%2011.57.58%20am.jpg" alt="">
Melbourne was host to 1,359 auctions this week and so far, 1,140 results have been reported, returning a preliminary clearance rate of 73.9 per cent, while last week, 1,265 auctions were held and a final clearance rate of 71.4 per cent was recorded.
At the same time last year, Melbourne’s clearance rate was 77.2 per cent across 1,103 auctions.
Looking at the sub-regions, the Inner region was the busiest for auctions across Melbourne, with 273 homes going up for auction.
<a href="https://www.propertyobserver.com.au/images/2017/09/24/Screen%20Shot%202017-09-24%20at%2011.58.13%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/24/Screen%20Shot%202017-09-24%20at%2011.58.13%20am.jpg" alt="">
Preliminary results show that 72.0 per cent of the 239 reported results were successful.
The North West region recorded the strongest clearance rate of 85.4 per cent across 101 auctions.
Sydney’s preliminary auction clearance rate was 71.5 per cent across 1,014 auctions this week, after last week saw the final clearance rate slip below 65 per cent for the first time this year (64.2 per cent across 916 auctions), although as usual this is likely to revise lower over the next few days as more results are collected.
The current clearance rate across Sydney is significantly lower than this time last year when 80.4 per cent of the 946 auctions held were successful.
There were 7 Sydney sub-regions that recorded an individual clearance rate higher than the city as a whole this week.
<a href="https://www.propertyobserver.com.au/images/2017/09/24/Screen%20Shot%202017-09-24%20at%2011.58.22%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/24/Screen%20Shot%202017-09-24%20at%2011.58.22%20am.jpg" alt="">
Northern Beaches (84.7 per cent), Central Coast (84.6 per cent) and Ryde (84.6 per cent) had the highest clearance rates.
Across Brisbane the preliminary clearance rate was 51.5 per cent this week.
There have been 99 auctions reported to CoreLogic, with a total of 125 held across the city, down from 133 last week.
For the Gold Coast, 16 results have been reported with a success rate of 37.5 per cent.
<a href="https://www.propertyobserver.com.au/images/2017/09/24/Screen%20Shot%202017-09-24%20at%2011.58.33%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/24/Screen%20Shot%202017-09-24%20at%2011.58.33%20am.jpg" alt="">
There were 122 Adelaide auctions this week, compared to 100 last week and 131 at the same time last year.
The cities preliminary clearance rate this week was 60.6 per cent, down from 68.2 per cent last week and lower than one year ago (78.2 per cent).
<a href="https://www.propertyobserver.com.au/images/2017/09/24/Screen%20Shot%202017-09-24%20at%2011.58.43%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/24/Screen%20Shot%202017-09-24%20at%2011.58.43%20am.jpg" alt="">
Perth’s clearance rate of 36.0 per cent across 25 auction results is similar to last week, when 33 auctions were held and a clearance rate of 35.7 per cent was recorded.
Over the same week last year, the clearance rate was a lower 29.5 per cent, and 50 auctions were held.
In Canberra, 69.2 per cent of the 78 reported auction results for Canberra were sold this week, down from 71.9 per cent last week and higher than last year (68.4 per cent).
There were 3 Tasmanian auctions reported to CoreLogic this week, with 2 sales.
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j.ballantyne1990-6AQqhLzZaK

National auction clearance rate sits at 70 percent: CoreLogic

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Of the 720 results from a recent weekend's scheduled auctions, around 220 had sold prior to auction, CoreLogic calculated. 
That was higher than the 160 passed in and not that far off the 284 houses and units sold under the hammer. There were over 50 withdrawn from auction, reasons unknown.
The number of vendors accepting pre-auction offers has risen dramatically in recent weeks.
The decision can typically be put down to one of two reasons.
The first scenario is that the sellers got an offer too good to be true, and this is still happening a bit.
But the more likely scenario in many markets across Sydney is that the anxious buyers have taken their estate agent's advice to accept the best, and possibly only offer, that had emerged during the first few weeks of the auction marketing campaign.
More often than not these offers come from frustrated, but increasingly savvy, long-standers in the market who have done their due diligence, and perhaps know the market better than any rookie, or overly optimistic, listing agent.
In a rising market, it’s often to the buyers' advantage to secure the property without the competition of others, though most often the vendor will go through to auction.
But in a softening market it is possible playing your cards right might entice the vendor to sell early to your likely advantage. 
Auction clearance rates have deteriorated in most suburbs during winter.
Those peaks of 80 percent plus this time last year are long gone, with the recent results sitting in the high 60s.
Some agents are telling their vendors to hold their nerve, to wait until after auction when hopefully more buyers have passed the tougher loan requirements that are certainly a brake on the market.
Negotiating on any property sale or purchase is about balancing the actual and perceived risks and rewards.
Agent John McGrath's says the tip for buying prior to auction starts by simply telling the agent you’re interested and ask if the vendor will sell privately.
Letting the agent know you have pre-approved finance is important. Advise also that you are happy to waive the cooling off period.
Then offer a price that is still some distance from your maxed out, walk-away figure. Vendors will assume your first offer isn’t your best so leave wiggle room. Even cheekily sign a contract and a cheque at your nominated offer as that will certainly prompt the vendors to think harder than just an oral offer.
There is always the prospect your pre-auction offer may be rejected, and then be used by the agent as a price floor on auction day. On the other hand in a flat market it may emerge there is no another buyer.
There is always the risk of paying more than you needed to whether its is buying pre-auction, under the hammer or post-auction.
But beware focusing purely on the reward of securing a lower price might raise the risk that another buyer trumps you - and you miss out on the house you love.
This article first appeared in the Daily Telegraph.
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jchancellor-FAypfDUnLy

Number of vendors accepting pre-auction offers has risen dramatically

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There's been a slight improvement in the national auction clearance rate, according to CoreLogic’s latest report, which comes as spring auction volumes have also increased.
The combined capital city preliminary clearance rate increased to 70.2 per cent this week.
It was after last week’s revised final clearance rate fell to 66.4 per cent, which was the lowest combined capital city clearance rate so far this year, down -0.1 per cent from the previous low seen over the week ending 25 June 2017 (66.5 per cent), and also the lowest clearance rate since June 2016.
<a href="https://www.propertyobserver.com.au/images/2017/09/10/Screen%20Shot%202017-09-10%20at%2011.33.14%20am.jpg" target="_blank">Click to enlarge</a>
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"It will be interesting to see what the final clearance rate looks like on Thursday once the remaining records have been captured," CoreLogic auction analyst Kevin Brogan.
Auction volumes increased week-on-week with 2,225 properties taken to auction this week, up from 2,074 last week, and higher than this time last year (2,062).
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Across Melbourne, preliminary results show that 73.2 per cent of the 938 reported auctions sold this week.
There were 1,097 properties taken to auction across the city, up from 976 last week when the final clearance rate was recorded at 71.3 per cent.
Over the same week last year, 974 auctions were held and a clearance rate of 78.3 per cent was recorded.
The Inner region of Melbourne had the highest number of auctions this week (214), with a preliminary clearance rate of 71.7 per cent.
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However, the strongest rate of clearance was recorded across the North West region, where 86.6 per cent of the 82 reported auctions were successful.
7 of the 9 sub-regions recorded clearance rates above 70.0 per cent.
Sydney was host to 810 auctions this week and a preliminary clearance rate of 72.3 per cent was recorded, rising from 65.5 per cent last week across 779 auctions, although this will fall over the week.
One year ago, 758 auctions were held across Sydney and 80.6 per cent were successful.
Looking at the sub-regions of Sydney, 4 of the 15 sub-regions recorded clearance rates above 75.0 per cent with the stand outs being the Northern Beaches (85.5 per cent), Ryde (81.2 per cent) and Baulkham Hills and Hawkesbury (80.0 per cent) regions.
<a href="https://www.propertyobserver.com.au/images/2017/09/10/Screen%20Shot%202017-09-10%20at%2011.34.01%20am.jpg" target="_blank">Click to enlarge</a>
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The lowest clearance rate was recorded across the Sutherland region where 57.1 per cent of the 42 reported auctions were successful.
The preliminary clearance rate in Brisbane this week was 43.9 per cent, down from 45.6 per cent last week.
Auction volumes were similar this week with 137 auctions held, compared to 138 last week.
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Meanwhile, across the Gold Coast, 29.4 per cent of the 34 reported auctions were successful.
In Adelaide, a 67.2 per cent preliminary result was recorded this week across 74 auctions.
Last week, 76 Adelaide auctions returned a clearance rate of 50.0 per cent for the city, while at the same time last year, 88 homes were taken to auction, with 68.0 per cent recording a successful result.
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Perth’s clearance rate of 36.8 per cent across 19 auction results is lower than last week, when 26 auctions were held and a clearance rate of 62.5 per cent was recorded.
Over the same week last year, the clearance rate was a lower 27.3 per cent, and 29 auctions were held.
Across Canberra, 72 homes were taken to auction this week.
Preliminary results show a clearance rate of 69.2 per cent, up from 66.1 per cent the previous week.
Tasmania was host to four auctions this week and so far three have been reported with just one successful sale.
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Spring auction volumes on the rise: CoreLogic 

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The first week of August saw a dip in auction volumes, according to CoreLogic’s latest report.
But the property data firm says that preliminary auction clearance rose to 71.5 percent.
The first week of August saw fewer auctions held across the combined capital cities, with 1,846 held this week, down from the 1,987 auctions held last week, however higher than the 1,540 auctions one year ago.
The preliminary auction clearance rose to 71.5 per cent, after last week saw the final auction clearance rate fall slightly to 68.7 per cent (revised lower from a preliminary clearance of 70.7%).
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Over the last month, auction volumes have remained relatively steady and while clearance rates have shown a softening, final results have been consistently in the high 60 per cent range since the first week of June.
Across the two larger auction markets, Melbourne continues to show resilience to softening conditions relative to Sydney, with Melbourne’s clearance rate recording in the mid-high 70 per cent range for another week (75.7 per cent), while Sydney’s preliminary auction clearance rate increased over the week (71.5 per cent).
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Last week Sydney recorded its lowest rate of clearance so far this year (65.4 per cent).
In Melbourne, Australia’s largest auction market, 75.7 per cent of the 799 reported auctions sold this week.
There were 907 auctions held across the city this week, down from 956 last week when the final auction clearance rate was 75.6 per cent and higher than the 724 auctions held one year ago, with a lower clearance rate (74.2 per cent).
The Inner region of Melbourne had the highest number of auctions this week (162), with a preliminary clearance rate of 75.4 per cent.
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Meanwhile, the strongest clearance rate was recorded across the North West region and Mornington Peninsula region, where an 87.0 per cent and 79.2 per cent rate of clearance were recorded respectively.
Across Sydney, 615 homes were taken to auction this week with a preliminary clearance rate of 71.1 per cent across 477 reported results.
Last week, the final clearance rate for the city was 65.4 per cent, across 714 auctions.
One year ago, 544 Sydney homes were taken to auction and the clearance rate was 77.5 per cent.
This week, the performance across Sydney’s individual sub regions was varied.
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Across the Central Coast region, where 17 results have been reported so far, the preliminary clearance rate was 64.7 per cent, while across City and Inner South (84.9 per cent) and Inner West (82.1 per cent) the success rate of reported auctions was much higher.
There were 153 Brisbane homes taken to auction this week, with 84 results reported so far.
The preliminary clearance rate for the city is 48.8 per cent, down from 49.6 per cent last week and lower than one year ago, when 54.5 per cent of the 127 properties taken to auction were successful.
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Across the Gold Coast 20 results have been reported so far, with a success rate of 40.0 per cent (8 sales).
Adelaide recorded a clearance rate of 69.4 per cent across 59 auctions this week, up from 64.0 per cent across 82 auctions last week.
At the same time last year, 58 homes were taken to auction, with 63.5 per cent recording a successful result.
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Perth’s clearance rate of 72.7 per cent across 35 auctions is up from the previous week, when 28 auctions were held and a clearance rate of 34.8 per cent was recorded.
Over the same week last year, the clearance rate was a lower 36.0 per cent, and 30 auctions were held.
Canberra’s preliminary auction clearance rate of 69.6 per cent this week is lower than last week, when the final auction clearance rate was 70.5 per cent and lower than the 74.1 per cent recorded last year.
There were only 5 Tasmanian auctions held this week. 1 was reported as sold.
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Auction volume falls, but still busier than August 2016: CoreLogic

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Melbourne was again the busiest and the best auction locality on the last weekend in July.
There were 943 auctions held across Melbourne on the weekend with a preliminary clearance rate of 77.2 per cent, increasing from a final clearance rate of 73.8 per cent last week across 833 auctions.
Over the same week last year, Melbourne’s clearance rate was 75.3 per cent across 754 auctions.
Of the nine Melbourne sub-regions, five recorded clearance rates above 80.0 per cent, with the highest clearance recorded across the Mornington Peninsula, with preliminary results showing 87.2 per cent of the 39 results were successful followed by the North West where 81.3 per cent of auctions cleared.
A French-style Balwyn house sold for $3.812 million making it Melbourne’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-vic-balwyn-125831142" target="_blank">27 Burroughs Road</a>, the 2012 built home was last sold in 2013 for $3.27 million.
The property was offered through VicProp agents Jack Zhang and Janssen Xiang.
In Sydney, 704 properties were taken to auction this week with a preliminary clearance rate of 68 per cent.
"Last week, the final clearance rate for the city was 70.3 per cent across 625 auctions, after sitting below the 70 per cent mark for the previous six weeks, so it will be interesting to see what the final clearance rate is like," Kevin Brogan, CoreLogic's auction analyst said.
Looking at a wider trend of numbers, the second quarter growth has been weaker than the first quarter, CoreLogic's head of research Tim Lawless said.
Melbourne is now the absolute standout performer for 12-month growth, he noted.
“While it overtook Sydney a little earlier in 2017 it is now well and truly entrenched in that spot.
“The median in Sydney is now $1.05 million, while in Melbourne it is $755,000, so we are talking about a difference of $300,000,” he told The Herald Sun.
This time last year ago, 509 Sydney homes were taken to auction for a 78 per cent success rate.
This week, the performance across Sydney’s individual sub regions was mixed.
Across the South West region, where 47 of the 50 results have been reported so far, the preliminary clearance rate was 40.4 per cent, while across the Eastern suburbs it was 90 per cent and 81.8 per cent in the Inner West.
Sydney's top sale was a refurbished pre-Federation Killara house.
It sold for $5.26 million making it Sydney’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-nsw-killara-125805670" target="_blank">4 Stanhope Road</a>, the 1890 the property was last sold in 2013 for $3.722 million.
There were five bedrooms, three of them having their own ensuite, a study and 1000 bottle wine cellar.
The property was offered through McGrath agents Brent Courtney and Sarah Davis.
Domain calculated the Sydney house price weekend median was $1,405,000 and $859,000 for apartments.
It was $860,000 for Melbourne's median auction house price and $588,000 for apartments.
The last weekend of July saw another slight increase in preliminary auction clearance rate, according to CoreLogic.
The combined capital city preliminary clearance rate was recorded at 70.7 per cent this week, up slightly from last week, when the final clearance rate sat at 69.9 per cent.
Auction volumes were higher with 1,957 homes across the combined capital cities, up from 1,748 last week, and significantly higher than this time last year when 1,610 auctions were held.
There were 158 Brisbane homes taken to auction this week, with 116 results reported so far.
The Brisbane clearance rate was 53.4 per cent, up from 46.4 per cent last week and higher than one year ago, when 48.5 per cent of the 156 properties taken to auction were successful.
A four bedroom period Bowen Hills house sold for $1.475 million making it Brisbane’s most expensive weekend auction sale.
The <a href="https://www.realestate.com.au/property-house-qld-bowen+hills-125858954" target="_blank">31 Cintra Road</a> offering had been held by the same family for around nine decades - sold for the first time since it’s 1925 construction.
The property, with views to Mt Coot-tha, was offered through LJ Hooker agents Brett Greensill and Jermaine Jones.
Adelaide saw a preliminary clearance rate of 64.3 per cent, with 56 reported results across a total of 80 scheduled auctions.
In comparison, over the previous week Adelaide’s clearance rate was 66.7 per cent and 68.8 per cent one year ago.
There were 25 Perth auctions this week and so far 15 results have been reported, with 26.7 per cent selling.
Canberra’s preliminary auction clearance rate of 74.4 per cent across 47 auctions is higher than both last week, when the final auction clearance rate was 71.8 per cent, and last year (74.3 per cent).
A five bedroom Peter Byfield-designed Red Hill house sold for $2.9 million making it Canberra’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-house-act-red+hill-125867986" target="_blank">58 Endeavour Street</a>, (above) the two-storey residence was offered through Luton Properties agents Richard Luton and Sophie Luton.
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Melbourne's auction superiority emerges ahead of spring sales

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The last weekend of July saw another slight increase in preliminary auction clearance rate, according to CoreLogic’s latest report.
The combined capital city preliminary clearance rate was recorded at 70.7 per cent this week, up slightly from last week, when the final clearance rate was recorded at 69.9 per cent.
Auction clearance rates have seen a slight improvement across the combined capital cities over the month of July, with the final clearance rate over the last two weeks just falling short of the 70 per cent mark.
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Auction volumes were higher this week with 1,957 homes taken to auction across the combined capital cities, up from 1,748 last week, and higher than this time last year when 1,610 auctions were held.
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Perth and Tasmania were the only cities where auction volumes fell over the week.
There were 943 auctions held in Melbourne this week with a preliminary clearance rate of 77.2 per cent, increasing from a final clearance rate of 73.8 per cent last week across 833 auctions.
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Over the same week last year, Melbourne’s clearance rate was 75.3 per cent across 754 auctions. Of the 9 Melbourne sub-regions, 5 recorded clearance rates above 80.0 per cent, with the highest clearance recorded across the Mornington Peninsula, with preliminary results showing 87.2 per cent of the 39 results were successful, followed by the North West where 81.3 per cent of auctions cleared.
In Sydney, 704 properties were taken to auction this week with a preliminary clearance rate of 68.0 per cent.
Last week, the final clearance rate for the city was 70.3 per cent across 625 auctions, after sitting below the 70 per cent mark for the previous 6 weeks, so it will be interesting to see what the final clearance rate is like on Thursday.
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One year ago, 509 Sydney homes were taken to auction and the clearance rate was 78.0 per cent.
This week, the performance across Sydney’s individual sub regions was mixed. Across the South West region, where 47 of the 50 results have been reported so far, the preliminary clearance rate was 40.4 per cent, while across the Eastern suburbs (90.0 per cent) and Inner West (81.8 per cent) regions, the success rate of reported auctions was much higher.
There were 158 Brisbane homes taken to auction this week, with 116 results reported so far.
The preliminary clearance rate for the city is 53.4 per cent, up from 46.4 per cent last week and higher than one year ago, when 48.5 per cent of the 156 properties taken to auction were successful.
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Across the Gold Coast 34 results have been reported so far, with a success rate of 38.2 per cent.
This week, Adelaide saw a preliminary clearance rate of 64.3 per cent, with 56 reported results across a total of 80 scheduled auctions.
In comparison, over the previous week Adelaide’s clearance rate was 66.7 per cent and 68.8 per cent one year ago.
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There were 25 Perth auctions this week and so far 15 results have been reported, with 26.7 per cent selling.
Last week there was a 57.7 per cent clearance rate for Perth.
Canberra’s preliminary auction clearance rate of 74.4 per cent across 47 auctions is higher than both last week, when the final auction clearance rate was 71.8 per cent, and last year (74.3 per cent).
There were no auctions held in Tasmania this week.
In comparison, there were 4 auctions last week, with all 4 recording a successful result.
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Slight increase in late July preliminary auction clearance rate: CoreLogic

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The preliminary auction clearance rate increased again on the weekend, according to CoreLogic's latest report.
The property data firm says that Melbourne's auction market continues to show resilience.
The combined capital city preliminary clearance rate increased to 74.8 per cent this week, up from a revised final clearance rate of 69.4 per cent last week, while auction volumes increased week-on-week.
There were 1,712 properties taken to auction this week, up from 1,627 last week, and higher than this time last year, when 1,329 auctions were held and a clearance rate of 67.9 per cent was recorded.
<a href="https://www.propertyobserver.com.au/images/2017/07/23/Screen%20Shot%202017-07-23%20at%2011.33.40%20am.jpg" target="_blank">Click to enlarge</a>
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Based on the preliminary collection, all but one of the capital cities saw the clearance rate increase week-on-week.
Melbourne’s auction market has continued to show some resilience to softer auction conditions, recording the highest preliminary clearance rate at 79.4 per cent, although this is likely to revise lower when the final auction results are released on the following Thursday.
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While Melbourne’s clearance rate has remained comfortably above 70% since July last year, final auction results show Sydney’s auction clearance rate has been tracking below 70% over the past six weeks, so it will be interesting to see if the preliminary clearance of 74.9 per cent is again revised below the 70 per cent mark.
Across Melbourne, preliminary results show that 79.4 per cent of the 676 reported auctions sold this week.
There were 816 properties taken to auction across the city, up from 756 last week when the final clearance rate was recorded at 74.9 per cent.
Over the same week last year, 572 auctions were held and a clearance rate of 71.6 per cent was recorded.
The West region of Melbourne had the highest number of auctions this week (168), with a preliminary clearance rate of 76.4 per cent.
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However, the strongest rate of clearance was recorded across the North West region, where 90.1 per cent of the 71 reported auctions were successful.
5 of the 9 sub-regions recorded clearance rates above 80.0 per cent.
Sydney was host to 613 auctions this week and a preliminary clearance rate of 74.9 per cent was recorded, rising from 69.2 per cent last week across 609 auctions.
The final clearance rate for Sydney has been trending below 70 per cent for the last 6 weeks, although it has been nudging higher over the last two weeks.
One year ago, 473 auctions were held across Sydney and 71.5 per cent were successful.
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Looking at the sub-regions of Sydney, 7 of the 15 sub-regions recorded clearance rates above 75.0 per cent with the stand outs being the Northern Beaches (92.3 per cent), Eastern Suburbs (89.2 per cent), North Sydney and Hornsby (83.6 per cent) and City and Inner South (78.3 per cent) regions.
The preliminary clearance rate in Brisbane this week rose to 50.6 per cent, from 41.7 per cent last week.
<a href="https://www.propertyobserver.com.au/images/2017/07/23/Screen%20Shot%202017-07-23%20at%2011.34.11%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/23/Screen%20Shot%202017-07-23%20at%2011.34.11%20am.jpg" alt="">
Auction volumes were slightly higher this week with 126 auctions held, up from 116 last week.
Meanwhile, across the Gold Coast, 41.4 per cent of the 29 reported auctions were successful.
In Adelaide, a 69.0 per cent preliminary result was recorded this week across 73 auctions.
Last week, 64 Adelaide auctions returned a clearance rate of 69.0 per cent for the city, while at the same time last year, 68 homes were taken to auction, with 56.3 per cent recording a successful result.
<a href="https://www.propertyobserver.com.au/images/2017/07/23/Screen%20Shot%202017-07-23%20at%2011.34.20%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/23/Screen%20Shot%202017-07-23%20at%2011.34.20%20am.jpg" alt="">
Perth’s clearance rate of 73.3 per cent across 15 auction results is up from last week, when 35 auctions were held and a clearance rate of 46.2 per cent was recorded.
Over the same week last year, the clearance rate was a lower 33.3 per cent, and 22 auctions were held.
Across Canberra, 46 homes were taken to auction this week.
Preliminary results show a clearance rate of 73.3 per cent, up from 68.9 per cent the previous week.
Tasmania was host to 3 auctions this week and so far no results have been reported.
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Mid-winter auction clearance rates continue their resilience: CoreLogic

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Victoria has all the busiest suburbs for auctions this weekend, with 16 properties scheduled to go under the hammer in Craigieburn, followed closely by Glen Waverley (15), Werribee (13), and Epping and Mount Waverley both set to host 12 auctions each.
Auction activity across the combined capital cities is set to remain somewhat steady this week, with 1,581 properties scheduled to go to auction, decreasing slightly when compared to last week’s 1,627 auctions and higher than the 1,329 auctions held over the same week last year.
<a href="https://www.propertyobserver.com.au/images/2017/07/20/Screen%20Shot%202017-07-20%20at%2011.23.57%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/20/Screen%20Shot%202017-07-20%20at%2011.23.57%20am.jpg" alt="">
In Melbourne, week-on-week activity will remain relatively unchanged, with 757 auctions scheduled across the city, up only slightly from the 756 held last week.
While in Sydney, volumes will fall over the week, with 569 homes scheduled to go to auction, down from the 609 auctions last week.
Activity across the remaining capital cities will be mixed this week, with volumes expected to increase in Adelaide and Canberra, while Brisbane, Perth and Tasmania will see fewer auctions held this week compared to last.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-craigieburn-125821670%5D" target="_blank">12 Glacier Street</a>, Craigieburn (above) will be auctioned this Saturday.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-craigieburn-125822942" target="_blank">16 Gallantry Avenue</a>, Craigieburn (below) will be auctioned this Saturday as well.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/20/16%20Gallantry%20Avenue.jpg" alt="">
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Craigieburn leads busiest auction suburbs all in Victoria this weekend

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Preliminary auction numbers down for the fourth consecutive week, according to CoreLogic's latest report.
The property data firm says that however auction clearance rate increases.
The number of homes taken to auction across the capital cities has fallen for the 4th week in a row, with just 1,612 auctions held this week, down from 1,766 last week, although higher than this time last year when 1,391 properties went under the hammer.
The combined capital city preliminary clearance rate increased to 72.4 per cent this week, up from the final clearance rate of 68.4 per cent last week, although this will revise as more results are collected.
<a href="https://www.propertyobserver.com.au/images/2017/07/16/Screen%20Shot%202017-07-16%20at%2011.07.13%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/16/Screen%20Shot%202017-07-16%20at%2011.07.13%20am.jpg" alt="">
The final clearance rate has nudged slightly higher over the last two weeks after reaching a year to date low of 66.5 per cent; it will be interesting to see if this is still the case on Thursday when the final figures are released.
Adelaide and Brisbane were the only cities to see a slight increase in auction volumes this week, while Melbourne had the highest number of auctions scheduled (753).
In terms of preliminary clearance rates, Melbourne was the best performing city with 77.4 per cent of the 667 results recording a successful result, and although this result will revise lower as the final results are collected, it is likely to be stronger than what we have seen in Melbourne over the last month.
<a href="https://www.propertyobserver.com.au/images/2017/07/16/Screen%20Shot%202017-07-16%20at%2011.07.23%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/16/Screen%20Shot%202017-07-16%20at%2011.07.23%20am.jpg" alt="">
Across Melbourne, 77.4 per cent of the 667 reported auctions sold this week.
There were 753 auctions held across the city this week, falling from 818 last week when the final clearance rate was 72.9 per cent, but higher than one year ago when 667 homes went to auction and a clearance rate of 76.1 per cent was recorded.
The West region of Melbourne had the highest number of auctions this week (138), with a preliminary clearance rate of 68.8 per cent.
<a href="https://www.propertyobserver.com.au/images/2017/07/16/Screen%20Shot%202017-07-16%20at%2011.07.32%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/16/Screen%20Shot%202017-07-16%20at%2011.07.32%20am.jpg" alt="">
Meanwhile, the strongest clearance rate was recorded across the Outer East, with 90.9 per cent of the 55 reported auctions clearing, followed by the South East region with a clearance rate of 86.2 per cent.
In Sydney, 600 properties were taken to auction this week with a preliminary clearance rate of 72.9 per cent, increasing from last week, when the final clearance rate for the city was 68.6 per cent across 656 auctions.
One year ago, 470 Sydney homes were taken to auction and the clearance rate was 74.9 per cent.
<a href="https://www.propertyobserver.com.au/images/2017/07/16/Screen%20Shot%202017-07-16%20at%2011.07.40%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/16/Screen%20Shot%202017-07-16%20at%2011.07.40%20am.jpg" alt="">
Looking at the sub-regions of Sydney, the Baulkham Hills and Hawkesbury region recorded the strongest clearance rate of 94.1 per cent across 21 auctions, followed by the Eastern Suburbs (84.2 per cent), while the North Sydney and Hornsby region had the highest volume of auctions (84), and recorded a clearance rate of 76.9 per cent.
There were 116 Brisbane homes taken to auction this week, with 87 results reported so far.
The preliminary clearance rate for the city is 44.8 per cent, down from 55.7 per cent last week and lower than one year ago, when 47.0 per cent of the 120 properties taken to auction were successful.
<a href="https://www.propertyobserver.com.au/images/2017/07/16/Screen%20Shot%202017-07-16%20at%2011.07.47%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/16/Screen%20Shot%202017-07-16%20at%2011.07.47%20am.jpg" alt="">
Across the Gold Coast 14 results have been reported so far, with a success rate of 64.3 per cent.
This week, Adelaide saw a preliminary clearance rate of 75.0 per cent, with 36 reported results across a total of 65 scheduled auctions.
In comparison, over the previous week Adelaide’s clearance rate was 59.6 per cent and 54.7 per cent one year ago.
<a href="https://www.propertyobserver.com.au/images/2017/07/16/Screen%20Shot%202017-07-16%20at%2011.07.58%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/16/Screen%20Shot%202017-07-16%20at%2011.07.58%20am.jpg" alt="">
There were 33 Perth auctions this week and so far 18 results have been reported, with 44.4 per cent selling.
Last week 36.4 per cent of the 22 reported auctions were successful.
Canberra’s preliminary auction clearance rate of 72.7 per cent across 39 auctions is higher than both last week, when the final auction clearance rate was 62.7 per cent, and last year (63.3 per cent).
Tasmania saw 6 auctions take place this week and 5 results have been reported so far, with 3 sales.
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Preliminary auction numbers down for fourth week in a row: CoreLogic

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Some 72.9 percent of the 660 Sydney auction listings were sold, up from last weekend, when the final clearance rate for the city was 68.6 percent.
Melbourne was the best performing city with 77.4 percent of the 667 results recording a successful result.
Adelaide was strong too with a 75 percent clearance rate.
The national auction volumes were down for the fourth consecutive winter week, with school holidays contributing to the reduced stock levels, according to CoreLogic's latest report.
However the auction clearance rate has risen.
The number of homes taken to auction across the capital cities with just 1,612 auctions held this week, down from 1,766 last week,
It was higher than this time last July when 1,391 properties went under the hammer.
The combined capital city preliminary clearance rate increased to 72.4 percent this week, up from the final clearance rate of 68.4 per cent last week, although this will revise as more results are collected, CoreLogic auction analyst Kevin Brogan said.
Sydney's Baulkham Hills and Hawkesbury region recorded the strongest clearance rate of 94.1 percent across 21 auctions, followed by the Eastern Suburbs (84.2 percent).
Melbourne's strongest clearance rate was recorded across the Outer East, with 90.9 percent of the 55 reported auctions clearing, followed by the South East region with a clearance rate of 86.2 percent.
At Northcote the house of Collingwood AFL midfielder Levi Greenwood was passed in at $1.28 million, but sold shortly afterwards to the highest bidder for $1,307,500.
The single-fronted Edwardian on <a href="https://www.realestate.com.au/property-house-vic-northcote-125754366" target="_blank">Arthurton Road </a>(above) was bought unrenovated in late 2014 for $725,000, shortly after joining the Pies from North Melbourne.
Its Ray White Northcote selling agent Angelo Bafunno had quoted $1.25-$1.35 million for the house, which features a self-contained two-bedroom bungalow at the back.
There were 116 Brisbane homes taken to auction, with 87 results reported so far.
The preliminary clearance rate for Brisbane was 44.8 per cent, down from 55.7 per cent last week and lower than one year ago, when 47 per cent of the 120 properties taken to auction were successful.
The nation's cheapest mainland result was a <a href="https://www.realestate.com.au/property-house-qld-haigslea-125740370" target="_blank">three bedroom Haigslea house </a>(below) near Ipswich that sold for $277,000.
<img src="https://www.urban.com.au/images/2017/07/17/Screen%20Shot%202017-07-17%20at%209.20.22%20AM.png" alt="">
Located at 304 Haigslea Malabar Road, the house sat on a 3843 sqm block with paddock views which last traded in 2012 at $325,000.
There was <a href="https://www.realestate.com.au/property-house-tas-riverside-125815470" target="_blank">a $160,000 one bedroom house sale</a> (below) at Riverside, near Launceston in Tasmania.
<img src="https://www.urban.com.au/images/2017/07/17/Screen%20Shot%202017-07-17%20at%209.21.18%20AM.png" alt="">
The top sale around the nation was in Sydney when a harbour-view five bedroom house at Balgowlah Heights sold for $3.55 million.
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-balgowlah+heights-125617790" target="_blank">15 Fisher Street</a>, (below) the 841 sqm property has a 1980s house was was last sold in 2015 for $2.875.
<img src="https://www.urban.com.au/images/2017/07/17/Screen%20Shot%202017-07-17%20at%209.22.28%20AM.png" alt="">
The property was offered through Clarke &amp; Humel Property agents Kingsley Looker and Michael Clarke.
This week, Adelaide saw a preliminary clearance rate of 75 percent, with 36 reported results across a total of 65 scheduled auctions.
In comparison, over the previous week Adelaide’s clearance rate was 59.6 per cent and 54.7 per cent one year ago.
Adelaide prices ranged between $300,000 and $781,000.
A three bedroom 1960s house on 800 sqm at Marryatville sold for $781,000 at <a href="https://www.realestate.com.au/property-house-sa-marryatville-125761978" target="_blank">1 The Crescent</a> (below).
<img src="https://www.urban.com.au/images/2017/07/17/Screen%20Shot%202017-07-17%20at%209.23.25%20AM.png" alt="">
A three bedroom Ingle Farm house sold for $300,000 making it Adelaide’s cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-sa-ingle+farm-125768690">3 Haydn Street</a> (below), the property marketed to first home buyers, investors and downsizes last sold in 2006 for $178,000.
<img src="https://www.urban.com.au/images/2017/07/17/Screen%20Shot%202017-07-17%20at%209.24.13%20AM.png" alt="">
There were 33 Perth auctions this week and so far 18 results have been reported, with 44.4 percent selling.
Canberra’s preliminary auction clearance rate of 72.7 percent across 39 auctions is higher than both last week, when the final auction clearance rate was 62.7 percent, and last year (63.3 percent).
In Yarralumla four bidders competed for <a href="https://www.propertyobserver.com.au/https://www.allhomes.com.au/ah/act/sale-residential/arkana-street-yarralumla-canberra/1317347820311" target="_blank">3B Arkana Street</a> (below), a five-bedroom house on a 1393-square-metre block with resort-style facilities, which Domain reported sold for $2.46 million
<img src="https://www.urban.com.au/images/2017/07/17/Screen%20Shot%202017-07-17%20at%209.25.25%20AM.png" alt="">
Tasmania saw six auctions take place this week and five results have been reported so far, with three sales.
 
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