Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

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Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

Joel Robinson

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

By the time S&amp;S Projects began planning <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia</a>, the developer already had three Rainbow Bay projects from which to draw.

Flow, Awaken and Esprit had given <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a> experience developing in the southern Gold Coast enclave, as well as buyer feedback that could be carried into its fourth project, a boutique collection of 38 residences at 271 Boundary Street.

“We have experienced a lot of success in this location and as this was our fourth building we had taken all of the learnings and buyer feedback from previous projects to arrive at a design and apartment mix that we believe had captured all of that experience and remained a true S&amp;S Project in its design and amenity,” the developer said.

That experience has translated into a collection of two, three, four and five-bedroom residences including two penthouses positioned on an elevated corner in Rainbow Bay, where the site opens to multiple coastal view corridors and the area's distinctive north-facing bay.

[smartcode_project:default project_id=140491 project_image_fid=284542]

S&amp;S Projects says the Boundary Street site took years to assemble, having previously comprised six units, a house and a duplex. The developer worked individually with the existing owners to bring the properties together after an earlier attempt to sell the site had been complicated by the number of parties involved.

“We are constantly looking for properties that meet our brand standards of location, views, and sites that are rare with unique aspects that we can develop to maximise the lifestyle of residents who live in our buildings,” S&amp;S Projects said.

The Boundary Street site gave <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a> a different set of conditions to work with.&nbsp;

“Our design brief was to design a building that took advantage of its unique elevated corner siting offering a range of spectacular view corridor opportunities,” Cottee Parker said.

“The design had to reinforce the strong brand pillars of S&amp;S which are quality, luxury and superior resident amenity.”

[smartcode_project:default project_id=140491 project_image_fid=284543]

Cottee Parker responded with a sculptural floorplate and strong horizontal banding, with continuous balconies and landscaped planters wrapping the building. Operable screens along the balcony edges allow residents to manage light and shade while creating an additional layer of pattern across the facade.

The tower rises above a heavily landscaped podium incorporating the entry lobby and recreational level, while the broader architectural expression takes cues from Rainbow Bay's coastal environment through its organic forms and light material palette.

Cottee Parker says the design has also been developed to complement S&amp;S Projects’ three previous Rainbow Bay developments while retaining its own architectural identity.

Inside, the residences continue that coastal response through two interior schemes centred on warm timbers and neutral tones, alongside patterned natural stone and fluted detailing.

Floor-to-ceiling sliding glass doors connect open-plan living areas to wraparound balconies, while natural stone is used across benchtops, splashbacks and bathroom walls. Specifications also include light-washed timber flooring, gas fireplaces, integrated bar and wine fridges, freestanding stone baths and 100 per cent wool carpet.

[smartcode_project:default project_id=140491 project_image_fid=284559]

Cottee Parker Director Sandra Brown said the intention was to create an architectural response closely connected to its surroundings.

“Imagine architecture that breathes with the rhythm of nature, where every curve and line flows seamlessly – creating spaces that dance with the elements, where sunlight kisses every surface and the gentle sea breeze fills every space,” Brown said.

The lessons S&amp;S Projects carried into Radia also extend to its resident amenity, with a substantial collection of shared facilities planned for just 38 residences.

A dedicated Residents Club will include a lap pool and spa, gymnasium, ice bath, sauna, steam room and hot rocks sauna. A residents' lounge, private dining room, outdoor dining and barbecue area and business centre are also planned, along with storage and dedicated surfboard and beach lockers.

S&amp;S Projects Founding Director Paul Gedoun said the facilities were also designed around the project's Rainbow Bay setting.

“Each amenity is designed to capitalise on the lifestyle of Rainbow Bay, ensuring residents can enjoy the relaxed coastal experience the enclave is famous for,” Gedoun said.

[smartcode_project:default project_id=140491 project_image_fid=284555]

<a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> says purchasers to date have predominantly included local downsizers, interstate lifestyle investors and families, alongside a strong contingent of repeat S&amp;S purchasers.&nbsp;

According to the project sales team, feedback has centred on the natural stone and joinery, generous floorplans, natural light and the ability for residences to capture views in multiple directions. The completed Flow, Awaken and Esprit developments have also provided prospective purchasers with an existing reference point for S&amp;S Projects' delivery in Rainbow Bay.

There has also been interest from high-profile surfers and people connected to the surf community, with the elevated building providing outlooks towards several of the area's recognised surf breaks.

Radia continues S&amp;S Projects' concentration of development in a tightly held part of the southern Gold Coast, close to Rainbow Bay Beach, Snapper Rocks, Duranbah Beach, Greenmount Beach and the Tweed River. The neighbourhood also includes a growing collection of hospitality venues, while Coolangatta Airport provides connections beyond the southern Gold Coast.

Hutchinson Builders is now delivering Radia, continuing the project from early works privately funded by S&amp;S Projects. The $250 million development is expected to reach completion in the third quarter of 2027.

“With our history in Rainbow Bay, we have been fortunate to be heavily involved in how the development landscape has unfolded and this project slides into the property landscape comfortably and will feel like it was always there,” the developer said.

[smartcode_project_cta:default project_id=140491]

How three Rainbow Bay projects shaped S&S Projects' fourth, Radia

Nearly 40 years after <a href="https://www.apartments.com.au/developers/sheida-group">The Sheida Group</a> began working on the northern Gold Coast, the family-owned developer is continuing its involvement in Hope Island with Marina Point Apartments, where apartment scale has been a central part of the development.

Across the 235-apartment waterfront community, the developer has prioritised larger floorplans, substantial open space and marina access, responding to a purchaser base that has predominantly comprised local owner-occupiers and downsizers moving from larger homes.

"Having already delivered Anchorage nearby, we also understood this particular market and how people live here," developer Rick Sheida said.

"<a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Marina Point&nbsp;Apartments</a> gave us the opportunity to build on those lessons and create the next evolution of our work in Hope Island."

[smartcode_project:default project_id=136992 project_image_fid=293151]

The Sheida Group acquired the Marina Point land around 2018. Its appeal, Sheida says, went beyond having a waterfront address.

"What attracted us was not simply that the site was waterfront, but the way it meets the water," he said.

"It sits at the junction of broad waterways, creating long sightlines, changing views and a sense of movement throughout the day. Its shape also allowed us to orient the buildings outward, improve privacy between residences and make better use of natural light and breezes."

The buildings have subsequently been positioned around the perimeter of the site, allowing most apartments to take in water views while others look across the resort amenity or hinterland. Once all four buildings are complete, approximately one hectare of the site is expected to remain as open space.

The waterfront also provides the potential for up to 50 marina berths, with berths ranging from 15 to 24 metres and options designed to accommodate wider vessels including catamarans. Access from the marina to the Gold Coast Seaway is bridge-free.

[smartcode_project:default project_id=136992 project_image_fid=293149]

The developer says purchasers to date have predominantly been owner-occupiers and downsizers from <a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Hope Island</a> and elsewhere on the Gold Coast, generally aged between 45 and 70. Many have sold larger family homes or properties requiring significant upkeep.

That purchaser profile informed a design brief centred on retaining the space and functionality of a larger home within an apartment format.

"Many of our buyers are coming from large, well-appointed homes in Sanctuary Cove and the surrounding area," the project team said.

"They are accustomed to generous spaces and thoughtful design, so it was important that the apartments delivered the same sense of comfort and functionality.

"Every room needed to feel well proportioned, every space needed a clear purpose and nothing could feel compromised."

Residences range from 139 sqm through to 319 sqm penthouses, with two car spaces provided to apartments and three to penthouses. Minimum 2.7-metre ceilings, floor-to-ceiling glazing, entertainer's kitchens with butler's pantries, substantial storage and balconies ranging from 18 sqm to 37 sqm further reflect the emphasis on space.

One purchaser from Sanctuary Cove has taken the concept further, combining two of Marina Point's largest apartments to create a 552 sqm residence with raked ceilings reaching up to 4.5 metres.

[smartcode_project:default project_id=136992 project_image_fid=293155]

With Building 1 now complete, the developer is also seeing its original design assumptions tested against purchaser feedback.

Three completed display residences allow prospective purchasers to compare apartment sizes, layouts, finishes and outlooks in person. The sales team says one of the most consistent responses has been to the scale of the apartments, with visitors describing them as feeling more like homes than conventional apartments.

The first stage of resident amenity is also operational, including a 25-metre heated lap pool, Technogym-equipped gym, infrared sauna, golf simulator and yoga room. Future facilities are set to include a resort-style pool and spa, waterfront barbecue area and a residents' lounge with a library, fireplace, pool table, kitchen and bar.

Rather than treating the four buildings independently, the design brief called for a complete waterfront neighbourhood, balancing private residences with landscaping, open space, marina access and shared amenity.

[smartcode_project:default project_id=136992 project_image_fid=293152]

For Sheida, Marina Point Apartments is ultimately an extension of the developer's longer-term involvement in Hope Island and its view of how the suburb is evolving.

"We were equally interested in the long-term future of Hope Island," he said.

"Its position between Brisbane and the central Gold Coast gives residents access to both, while improving transport connections are making the northern Gold Coast increasingly attractive as a permanent place to live."

Hope Island Marketplace is 1.3 kilometres from Marina Point, while Sanctuary Cove and Paradise Point are within six kilometres. Links Hope Island, The Pines and The Palms golf courses are also nearby, and the new Hope Island train station is under construction around five kilometres from the development.

Building 2 is under construction, with completion scheduled for 2027.

[smartcode_project_cta:default project_id=136992]

Marina Point Apartments continues The Sheida Group's 40-year Hope Island story

Auctions

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A 1904 Killara trophy home with great sporting pedigree was the nation's top weekend auction result.
The upper North Shore Sydney home, Poitiers <a href="https://www.realestate.com.au/property-house-nsw-killara-124713770" target="_blank">sold for $5.45 million (above),</a> having been listed with a price guide of $4.9 million to $5.3 million.
Sitting on 1,900 sqm with 35 metre Springdale Road frontage, it was once home to Bert Oldfield, the famous test cricketer from the Bodyline era.
After almost five decades' ownership Bert Oldfield and his wife Ruth sold the home to the current owners John and Patricia Mortlock, the parents of former Australian Wallabies captain Stirling Mortlock.
The Mortlock family had purchased Poitiers in 1976 for $127,000. 
The Oldfields had bought it from the French-born Sydney socialite Paul Dekyvere in the early 1930s.
Featuring timber joinery and ceilings, original fireplaces and also a ballroom-sized formal lounge, the property was sold at weekend auction by Curran Property agent Glenn Curran.
He secured bids from four of the five registered bidders with it knocked down to local buyers of Chinese descent.
Attempts by the reality star and commercial real estate agent Krissy Marsh to secure $8 million for her six-bedroom Dover Heights home failed at its buyer-invitation only auction on Thursday evening (below).
<img src="https://www.urban.com.au/images/2017/03/13/Screen%20Shot%202017-03-13%20at%2010.05.37%20AM.png" alt="">
There were three registered parties seeking the architect-designed home of the <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house/nsw/eastern-suburbs/dover-heights/320321" target="_blank">Real Housewives of Sydney star</a> through Alex Lyons and Peter Starr of McGrath who placed an $8 million vendor bid.
An agency tweet on Saturday incorrectly advised it had been sold which triggered an inaccurate Sunday news report (below). 
<img src="https://www.urban.com.au/images/2017/03/13/Screen%20Shot%202017-03-13%20at%2010.06.48%20AM.png" alt="">
Marsh is known on the series as the "property princess."
Just 1,402 auctions were held across the combined capital cities, significantly lower than the 2,907 held last week and a tad lower than one year ago (1,488), according to CoreLogic’s latest report.
Some four out of the eight states and territories had a public holiday Monday which has been a key factor in the fall in long weekend auction volumes.
The combined capital city clearance rate rose from 74 percent last week to 80 percent.
Both the two largest auction markets, Melbourne and Sydney, saw their preliminary clearance rates rise, with Sydney at 83.1 percent and Melbourne at 84.3 percent, while the highest clearance rate was in Adelaide where 87 percent of auctions cleared over the weekend. Canberra was also well into the 80s. 
One year ago, the combined capital city clearance rate was a lower 64.9 percent.
Given the Moomba long weekend only 355 Melbourne auctions were held, with a rise in the clearance rate for Melbourne from 78.4 percent last week.
Over the same weekend last year, Melbourne’s clearance rate was 68.6 percent across 420 auctions. 
Hawthorn East had the dearest house sale at $3.05 million, with <a href="https://www.realestate.com.au/sold/property-house-vic-hawthorn+east-124726850" target="_blank">18 Carlyle Street</a> (below) an 1890s Victorian house on 710 sqm.
<img src="https://www.urban.com.au/images/2017/03/13/Screen%20Shot%202017-03-13%20at%2010.08.22%20AM.png" alt="">
The property offering three bedrooms plus study and two bathrooms last sold for $120,100 in 1984.
Of the Melbourne sub-regions, the highest clearance rate was recorded across the Inner South region, with preliminary results showing 92.9 percent of the 14 results were successful, followed by the Inner East where 92.5 percent of auctions cleared.
Sydney was the busiest capital city auction market this week, with 766 auctions held with its preliminary clearance rate of 83.1 percent well up on the final 76 percent for last week.
One year ago the clearance rate was 71.2 percent.
Sydney’s strongest performing sub-regions this week were Ryde (94.6 percent), Northern Beaches (90.9 percent) and North Sydney and Hornsby (90.2 percent).
With no public holiday on Monday for Brisbane, auction activity remained relatively stable, with 126 auctions held across the city, down from 158 last week and 152 one year ago.
The clearance rate increased from 55.3 percent last week to 61.1 percent this week, much stronger on the same time last year at 38.5 percent.
Across the Gold Coast, 45 auctions were held this week and preliminary results show that 46 per cent of the 30 reported results were successful.
In Adelaide, an 87 percent preliminary result was recorded across 82 auctions.
Last weekend, 147 Adelaide auctions returned a clearance rate of 68 percent for the city. 
A beachfront house at Henley Beach sold for $3.45 million. Located at <a href="https://www.realestate.com.au/property-house-sa-henley+beach-124742758" target="_blank">353 Esplanade</a> (below), the 1918 bungalow was offered for the first time in 50 years.
<img src="https://www.urban.com.au/images/2017/03/13/Screen%20Shot%202017-03-13%20at%2010.09.49%20AM.png" alt="">
Perth’s preliminary clearance rate was 44 percent this weekend, up from 28 percent.
This week 28 Perth homes were auctioned, while 9 results have been reported so far. 
An original War Service home at Mosman Park in Perth sold for $1.2 million, the top sale on its election weekend.
Located at <a href="https://www.realestate.com.au/property-house-wa-mosman+park-124625682" target="_blank">41 Samson Street</a> (below) the north facing 705 sqm block was marketed as a perfect place for a new home site by Riverside Real Estate agent Henry Willis.
<img src="https://www.urban.com.au/images/2017/03/13/Screen%20Shot%202017-03-13%20at%2010.10.48%20AM.png" alt="">
Across Canberra, 42 homes were taken to auction.
Preliminary results show a clearance rate of 83 per cent, up from 70 per cent the previous weekend.
A classic home at Campbell has been sold for $1.17 million, the most expensive Canberra home sold over the weekend.
Located at <a href="https://www.realestate.com.au/property-house-act-campbell-124768610" target="_blank">25 Jacka Crescent</a>, (below) the single level property features a formal lounge with slow combustion fireplace.
<img src="https://www.urban.com.au/images/2017/03/13/Screen%20Shot%202017-03-13%20at%2010.11.53%20AM.png" alt="">
It last sold in 2013 for $860,000 and $697,000 in 2007.
The property was offered through Peter Blackshaw Real Estate.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Mortlock family sells Killara sporting icon, Poitiers

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This week 1,402 auctions were held across the combined capital cities, significantly lower than the 2,907 held last week and lower than one year ago (1,488), according to CoreLogic’s latest report.
The property data firm says that four out of the eight states and territories have a public holiday this coming Monday which has been a key factor in the fall in auction volumes.
<a href="https://www.propertyobserver.com.au/images/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.00.23%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/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.00.23%20am.jpg" alt="">
The combined capital city clearance rate rose this week, up from 74 percent last week to 80 percent this week.
The two largest auction markets, Melbourne and Sydney, saw their preliminary clearance rates rise, with Sydney at 83.1 percent and Melbourne at 84.3 percent, while the highest clearance rate was in Adelaide where 87.0 per ent of auctions cleared over the weekend.
<a href="https://www.propertyobserver.com.au/images/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.00.29%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/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.00.29%20am.jpg" alt="">
One year ago, the combined capital city clearance rate was a lower 64.9 percent.
Only 355 Melbourne auctions were held this week with a preliminary clearance rate of 84.3 percent.
This week’s result shows a rise in the clearance rate for the city, after Melbourne’s final clearance rate was recorded at 78.4 percent last week.
Over the same week last year, Melbourne’s clearance rate was 68.6 percent across 420 auctions.
<a href="https://www.propertyobserver.com.au/images/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.02.16%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/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.02.16%20am.jpg" alt="">
Of the Melbourne sub-regions, the highest clearance rate was recorded across the Inner South region, with preliminary results showing 92.9 percent of the 14 results were successful, followed by the Inner East where 92.5 percent of auctions cleared.
Sydney was the busiest capital city auction market this week, with 766 auctions held and a preliminary clearance rate of 83.1 percent.
Looking at final numbers for last week, 76.0 percent of Sydney auctions were successful, while one year ago the clearance rate was 71.2 percent, weaker than the current results for the city.
<a href="https://www.propertyobserver.com.au/images/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.02.23%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/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.02.23%20am.jpg" alt="">
Sydney’s strongest performing sub-regions this week were Ryde (94.6 percent), Northern Beaches (90.9 percent) and North Sydney and Hornsby (90.2 percent).
With no public holiday on Monday for Brisbane, auction activity remained relatively stable, with 126 auctions held across the city, down from 158 last week and 152 one year ago.
<a href="https://www.propertyobserver.com.au/images/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.02.31%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/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.02.31%20am.jpg" alt="">
The clearance rate increased from 55.3 percent last week to 61.1 percent this week, while at the same time last year, just 38.5 percent of reported Brisbane auctions were sold.
Across the Gold Coast, 45 auctions were held this week and preliminary results show that 46 percent of the 30 reported results were successful.
In Adelaide, an 87 percent preliminary result was recorded this week across 82 auctions.
<a href="https://www.propertyobserver.com.au/images/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.02.39%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/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.02.39%20am.jpg" alt="">
Last week, 147 Adelaide auctions returned a clearance rate of 68 percent for the city, while at the same time last year 51 percent of Adelaide’s auctions cleared across 95 auctions.
Perth’s preliminary clearance rate was 44 percent this week, up from 28 per cent last week.
This week 28 Perth homes were auctioned, while 9 results have been reported so far. At the same time last year, 42 percent of Perth auctions cleared.
Across Canberra, 42 homes were taken to auction this week.
Preliminary results show a clearance rate of 83 percent, up from 70 percent the previous week.
So far 2 of the 3 Tasmanian results have been reported with 1 sale.
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Auction numbers ease given long weekend: CoreLogic

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Melbourne will hold just over 250 auctions this weekend, down from last Saturday’s 1182 listings and down from the 342 auctions for the same weekend last year according to Domain's Andrew Wilson.
He said the west suburban region of Melbourne will again host the most number of auctions on Saturday with 62.
"This is followed by the outer east 41, the north 29, the north east and the inner east each with 28, the inner city and the south east each with 22 and the inner south with 19 auctions listed on the weekend," he said.
"The most popular suburb for auctions this weekend in Melbourne is Craigieburn with 8 followed by Hopper Crossing 6, Glen Waverley, St Albans and Burwood each with 5 and Reservoir, Glenroy and Brunswick East, Melbourne and Altona North each with 4 auctions each on Saturday.
"Melbourne recorded a clearance rate of 80.6 percent last Saturday which was slightly lower than the 82.4 per cent recorded the previous weekend but remained well ahead of the 75.4 percent recorded over the same weekend last year.
"Despite the lower result, Melbourne has now recorded consecutive weekend rates above 80 per cent for the first time since June 2015 – a clear indication of the underlying strength of the local market."
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jonathanchancellor-7SQnKwU6yx

Melbourne weekend auctions nudge over 250: Andrew Wilson

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There are 1,362 properties scheduled to go to auction this week across the combined capital cities, this is a significant decrease in volume compared to the 2,907 auctions last week, according to CoreLogic.
The property data firm says that across the two major auction markets, in Melbourne and Sydney, auction activity has fallen this week, with only 333 auctions to be held across Melbourne.
This is down substantially from 1,459 last week and 754 homes to go to auction across Sydney, down from 950 last week.
Across the smaller markets, volumes are set to decrease across the remaining capital cities.
Overall activity is lower than over the corresponding week last year (1,488).
Capital city auctions this week:
<ul>
<li>Sydney: 754</li>
<li>Melbourne: 333</li>
<li>Brisbane: 122</li>
<li>Adelaide: 82</li>
<li>Perth: 28</li>
<li>Canberra: 40</li>
</ul>
Craigieburn in Victoria is the busiest suburb for auctions across the nation this week, with 14 residential homes scheduled to go under the hammer, followed closely by Wahroonga and Randwick, both of which are in NSW, with 13 and 11 auctions to be held respectively.
Summary of last week’s results:
<a href="https://www.propertyobserver.com.au/images/2017/03/09/Corelogic-1.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/2017/03/09/Corelogic-1.jpg" alt="">
The combined capital city final auction clearance rate fell to 74.6 per cent last week, down from 78.4 per cent over the previous week, when the final clearance rate recorded the strongest result since June 2015.
Auction volumes were lower last week with 2,907 auctions held, compared to 3,301 the week prior.
Over the same week last year, both auction volumes and clearance rate were lower, when 68.6 per cent of the 2,304 auctions were reported as successful.
<a href="https://www.propertyobserver.com.au/images/2017/03/09/Corelogic-2.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/2017/03/09/Corelogic-2.jpg" alt="">
Last week saw Melbourne’s final clearance rate fall to 78.4 per cent, down from 81.0 per cent the previous week.
Across Sydney, the final clearance rate fell to 76.0 per cent, down from 80.0 per cent the previous week.
Both Melbourne and Sydney saw a decrease in the number of auctions held over the week, with 1,459 and 950 auctions, down from the previous week’s 1,635 and 1,210 respectively.
Across the smaller auction markets, clearance rates decreased across all of the capital cities, with the exception of Tasmania where the clearance rate remaining unchanged.
The busiest non-capital city region last week was the Gold Coast, with 60 auctions; however Wollongong recorded the strongest clearance rate at 81.3 per cent.
<a href="https://www.propertyobserver.com.au/images/2017/03/09/Corelogic-3.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/2017/03/09/Corelogic-3.jpg" alt="">
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Auction numbers decline over Moomba long weekend: CoreLogic

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The REIV is expecting about 320 auctions in 189 suburbs this week.
The top auction locations this week are Craigieburn (8 auctions) and Hoppers Crossing (7 auctions), followed by Rye and St Albans with 6 auctions in each.
Last weekend there were 1,237 auctions (exc. 14 postponed and 21 withdrawn).
This weekend there will be 320 auctions.
This weekend last year 69 percent from 388 auctions.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-craigieburn-124766458">27 Hanson Road</a>, Craigieburn (above) has been listed for auction this Saturday.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-craigieburn-124757250">76 Thoresby Circuit</a>, Craigieburn (below) has been listed for auction 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/2017/03/09/76%20Thoresby%20Circuit.jpg" alt="">
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Craigieburn tops Melbourne's 320 auctions on Moomba weekend

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Future Fund board member Michael Wachtel is keeping a very close eye on the property market across Melbourne's two most watched property locations.
The Credit Suisse advisor was in the auction crowd when the late Lady Susan Renouf's Toorak home (above) was put to auction with $5 million plus last weekend.
After an hour of post-auction negotiations, the Struan Street home was sold but not to the only bidder at $4.55 million.
Renouf had bought the three bedroom home for $1.85 million from the blue blood Grimwade family more than a decade ago.
Wachtel and his photographer wife Linda monitor the Toorak market as their five bedroom home is currently listed with a price guide of $6.8 million plus through Kay &amp; Burton agents Michael Gibson and Matt Davis. 
The couple paid $726,000 for the Cross Street home in the recession-hit Melbourne in 1992.
They have paid $3.2 million for a 410 sqm site elsewhere in Toorak where they will build a new town house.
Wachtel came to our attention last month when he paid $1.95 million for the former Bell stockbroking family weekender at Portsea where he's owned for 13 years.
No sooner had he signed the contract on the three bedroom home with large entertaining deck that overlooks the Fiona Brockhoff designed gardens, than he was attending another auction.
Just out of curiosity it seems.
This article first appeared in the Weekend Australian's Mansion Australia section.
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firstname1-iYD4UYzvBa

Future Fund member Michael Wachtel watches Melbourne market

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The current Essendon captain, Dyson Heppell and a former club captain Matthew Lloyd both secured post auction sales for their Melbourne investment properties on the weekend.
Dyson Heppell’s three-bedroom <a href="https://www.realestate.com.au/sold/property-house-vic-moonee+ponds-124554446" target="_blank">Moonee Ponds terrace</a> (above) fetched $1.44 million after being passed in at $1.35 million to its only bidder.
The 1880s Chaucer St offering had cost $1,065,000 in 2013.
It then became a $700 a week rental property.
Matthew Lloyd’s three-bedroom 1890s <a href="https://www.realestate.com.au/sold/property-house-vic-albert+park-124659998" target="_blank">Albert Park cottage</a> (below) sold for $1.85 million after it passed in on a vendor bid of $1.8 million at its Greg Hocking Holdsworth auction.
 <img src="https://www.urban.com.au/images/2017/03/06/Screen%20Shot%202017-03-06%20at%209.01.13%20AM.png" alt="">
Renovated in 2007, it last sold at $1,477,500 in 2010. It became a $1000 a week rental property for the then recently retired champion.
"I thought what better place to invest than Albert Park," he told the Herald Sun.
“I was looking there and found a renovated property where I didn’t have to do any work and could rent it out.”
Heppell secured just over nine percent annual price growth during his three plus years while Lloyd achieved three percent annual growth during his six years.
No renovation work had been done by Heppell, while Lloyd recently put in a new bathroom, redid the floors and had given the whole house a repaint.
A five bedroom house with Sydney Harbour Bridge views at McMahons Point sold post-auction for $9.38 million, the highest priced result at weekend auctions across Australia.
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-mcmahons+point-124619422" target="_blank">3A Warung Street</a>, (below) the tri-level property is set in a prized waterfront enclave.
<img src="https://www.urban.com.au/images/2017/03/06/Screen%20Shot%202017-03-06%20at%209.02.18%20AM.png" alt="">
The property was offered through McGrath who suggested it was Sydney's lower north shore highest auction result so far this year.
After nine contracts were issued, just two interested parties competed for the home which was passed in at $9.1 million.
It sold post auction to a couple reportedly downsizing from Hurstville, according to Domain. 
Another highlight in Sydney saw the waterfront <a href="https://www.realestate.com.au/property-house-nsw-balmain-124589878" target="_blank">1870s Balmain home</a> (below) of anthropology academic, Professor Richard Wright fetch $6.1 million, well above its $5.5 million reserve, when offered for the first time in more than five decades.
<img src="https://www.urban.com.au/images/2017/03/06/Screen%20Shot%202017-03-06%20at%209.03.37%20AM.png" alt="">
A four bedroom 1920s Toorak home sold for $5.5 million was the highest priced result in Melbourne at the weekend auctions.
Located at <a href="https://www.realestate.com.au/property-house-vic-toorak-124623202" target="_blank">684 Orrong Road</a>, below) the property set on 877 sqm of land had last traded almost 50 years ago.
<img src="https://www.urban.com.au/images/2017/03/06/Screen%20Shot%202017-03-06%20at%209.04.28%20AM.png" alt="">
It was marketed with a price guide of $4 million plus through Marshall White agents Richard Mackinnon and Fraser Cahill.
The solid brick residence was marketed as available for immediate residency, renovation or development as apartments or townhouses.
It features leadlight windows, beamed ceilings and timber floors beginning from its reception hall.
Auction results continue their strong run into March, with the east coast auction engine rooms, Sydney and Melbourne recording an 80% clearance rate, according to CoreLogic’s latest report.
SQM Research Louis Christopher said the weekend results showed that buyer demand was holding up even as more sellers come back into the market.
The property data firm says that the preliminary clearance rate across the combined capital cities fell slightly, from 78.4 per cent to 77.8 per cent, based on preliminary results.
The number of auctions held across the capitals was lower, with 2,714 held, compared to 3,301 over the previous weekend which was a record high for February.
"In comparison, over the corresponding weekend last year, both the combined capital city clearance rate and the number of auctions were lower, with 2,304 auctions held and 68.6 per cent reported as successful," Kevin Brogan, CoreLogic's auction commentator said. 
Sydney saw the clearance rate remain above 80 per cent for the fourth week in a row, and Melbourne for the second week in a row, while across the remaining cities; week-on-week results show a fall in clearance rates with the exception of Perth where results improved, and Tasmania, which remained unchanged over the week.
Melbourne was host to 1,399 auctions and preliminary results show a clearance rate of 80.4 per cent, down slightly from last week’s final clearance rate of 81 per cent across 1,635 auctions.
At the same time last year, Melbourne’s clearance rate was 72.1 per cent, with 1,236 auctions held across the city.
Melbourne’s Inner region was the busiest for auctions with 295 homes going under the hammer, followed by Inner South (260) and Inner East (179).
The North East region was the best performer in terms of Melbourne clearance rates, with an 87.6 per cent success rate across 133 auctions.
The REIV president Joseph Walton said he summer auction market, from December to February, has delivered the highest number of auction sales on record with close to 5,600 homes sold under the hammer.
Sydney’s preliminary auction clearance rate increased to 80.5 per cent from 80 per cent last week.
Auction volumes were lower this week with 886 homes taken to auction, compared to 1,210 last week.
The same weekend last year had a clearance rate of 68.7 per cent was recorded across 708 auctions.
The performance across Sydney’s regions was varied - across the South West region with a clearance rate was 66 per cent to the City and Inner South (88 per cent) and also the Northern Beaches (88 per cent).
Across Brisbane, the clearance rate was 59 per cent, down from 62 per cent but higher than one year ago (50 per cent).
Auction volumes were also down with 148 auctions, compared to 176 last weekend and a lower 133 last year.
Hendra had the top price when $3.5 million was paid for a <a href="https://www.realestate.com.au/property-house-qld-hendra-124694682" target="_blank">five bedroom home</a> (below) rich in original features.
<img src="https://www.urban.com.au/images/2017/03/06/Screen%20Shot%202017-03-06%20at%209.05.29%20AM.png" alt="">
It was marketed by Ray White Real Estate as a modern Queenslander.
A total of 120 auctions were held in Adelaide, down from 122 last weekend, although higher than last year (99).
Preliminary results show 69 per cent sold, down from the prior 71 per cent when the city recorded the highest clearance rate for the year to date.
The preliminary clearance rate for Perth was 36 per cent, compared to 30 per cent last weekend and 21 per cent last year.
Canberra’s clearance rate fell to 70 per cent, after being recorded at 76 per cent last weekend.
There were 116 auctions held across Canberra, up from 103. 
An auction in Forde set a $1.4 million suburb record by $130,000, according to Domain.
<img src="https://www.urban.com.au/images/2017/03/06/Screen%20Shot%202017-03-06%20at%209.06.32%20AM.png" alt="">
It was a <a href="https://www.realestate.com.au/sold/property-house-act-forde-124693566" target="_blank">five bedroom offering</a> (above) on an 800 sqm block at 3 Arndt Street.
One year ago, 67 percent of Canberra’s 88 auctions cleared.
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jchancellor-FAypfDUnLy

Bomber Dyson Heppell sells in Moonee Ponds after weekend auction 

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The Sydney auction market is in top shape after a record-high February performance for clearance rates and listings, according to Domain's Dr Andrew Wilson.
He said this weekend Sydney will host nearly 700 auctions as the autumn auction selling season begins.
"700 auctions will be significantly lower than last weekend’s record February Super Saturday 940 listings but significantly higher than the 583 auctioned over the same weekend last year," he said.
"The south will host the most number of auctions with 88 followed by the inner west and the upper north shore each with 85, the city and east 80, the lower north 79, the south west 62, the west 57, the northern beaches 48, Canterbury Bankstown 45, the north west 27, the central coast 17 and the Blue Mountains with 2 auctions listed for Saturday.
"The most popular suburb for auctions this weekend in Sydney is Mosman with 15 followed by Wollstonecraft 10, Blacktown 9, Marrickville and Ryde each with 8 and a number of suburbs with 7 auctions listed including Randwick, North Sydney, Casula and Croydon Park."
 
 
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Sydney auctions in top shape post February highs

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Combined capital city auctions are predicted to fall this week after the record highs of February, according to CoreLogic.
CoreLogic report 2,558 auctions are slated for this week, down from 3,301 auctions last week.
"Auction activity is down week-on-week in Melbourne and Sydney, the two major auction markets, with 1,302 Melbourne homes set to go to auction, down from last week’s 1,635, and 858 auctions set to be held across Sydney, decreasing from last week’s 1,210," CoreLogic said.
"Across the smaller markets, volumes are set to decrease across the remaining capital cities.
"However, overall activity is set to be higher than what was seen over the corresponding week last year (2,304)."
 
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Capital city auctions this week: 
<ul>
<li>
Sydney: 858 
</li>
<li>
Melbourne: 1,302 
</li>
<li>
Brisbane: 141 
</li>
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Adelaide: 112 
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Perth: 35 
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 Canberra: 104 
</li>
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"South Yarra and St Kilda in Victoria are the two busiest suburbs for auctions across the nation this week, each with 21 residential homes set to go under the hammer, followed by Malvern East and Reservoir also in Vic both with 19 and Mosman in NSW with 17 auctions."
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mick.cee-iDmgDDAmu8

Weekend auction levels down from February highs: CoreLogic

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The new year began on a strong footing with capital city clearance rates at auctions generally tracking in the high 70% to mid-80% range from week to week, according to CoreLogic’s latest report.
The property data firm says the results of ‘Super Saturday’ last week saw an unprecedented number of auctions for February; clearance rates reached a new high for 2017 despite the large number of auctions held.
Advertised listing numbers remain low across the hottest housing markets, with total residential advertised listings in Sydney tracking 11.3% lower than the same period a year ago, Melbourne total listings are 5.1% lower than last year, Hobart listings are down by 35% and Canberra advertised stock levels are 6.2% lower than a year ago.
CoreLogic head of research Tim Lawless said, “Low levels of advertised stock for sale at a time when buyer demand remains strong is creating a sense of urgency among buyers, which is adding to the upward pressure on prices.
"This helps to explain why clearance rates are so high, and private treaty sales are so rapid across the strongest markets.”
<a href="https://www.propertyobserver.com.au/images/2017/03/1/Screen%20Shot%202017-03-01%20at%2010.17.42%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/2017/03/1/Screen%20Shot%202017-03-01%20at%2010.17.42%20am.jpg" alt="">
Overall, the latest results from the CoreLogic Hedonic Index highlights the performance diversity across Australia’s housing market, he added.
"The continuation of the capital gains rebound is likely to create further discomfort among policy makers, particularly in light of the growing debate around affordability and the high level of demand from investors.”
“I remain of the view that housing market conditions will moderate during 2017 due to affordability constraints impacting on housing demand, as well as higher supply levels and an eventual slowing of investment demand brought about either through changed policies from Australian lenders or via regulatory changes aimed at slowing credit growth across the investment sector.”
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