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

Joel Robinson

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

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

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

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

Bottega House secures landmark riverfront site in St Lucia 

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

SIERA kicks off construction at Northcliffe tower Exhale

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

Eastern Suburbs buyers snap up ESTE Little Bay apartments

Auctions

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CoreLogic has revised commercial auction results to the 10th of February, which indicate a slight increase in activity as the year progresses, according to CoreLogic’s Cityscope.
The property data firm says that listings in the second week of February ramped up to 11, compared with just five in the previous week.
Three of the 11 listings cleared at auction, bringing the clearance rate up to 27.27 percent from the previous week of 20 percent.
The sales for the week ending 10th of February had a combined worth of $2.75 million, also up from $1.58 million in the previous week.
The following image summarises the type and value of properties sold at auction collected by CoreLogic across the country.
<a href="https://www.propertyobserver.com.au/images/2017/02/24/Corelogic-5.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/2017/02/24/Corelogic-5.jpg" alt="">
Unsurprisingly, the high performing economies of New South Wales and Victoria have seen most of the first few sales in 2017.
The average sale price is just under $1 million.
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j.ballantyne1990-6AQqhLzZaK

Auction activity increases as year progresses: Cityscope

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GUEST OBSERVER 
Ferocious bidding on the right homes – despite this being the largest auction start to a year in Melbourne auction history – the market lapped it up, spat out a few and said ”feed me, feed me, give me more.”
 <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/2017/02/28/expert%20story%201.jpg" width="619" height="410">
At 6.00 pm the James Clearance Rate on Inner Melbourne Homes was close enough to 90% – yep 90% and that was on a Super Saturday (a big test).
James Bidderman was 2.6 bidders per auction, which means that whilst around 170 bought –  an incredible 270 didn’t  – and those 270 wounded underbidders will be back next week to fight it out, against a new wave of buyers; which in turn means the market will be going up, not down, ceteris paribus (all things being equal) over the next little while.
Absolutely no surprises – the market is strong and rising.
What else would you expect the Melbourne auction market to be doing?
No really, what else would you expect of the Melbourne auction market in the current environment.
Hands up if you are expecting the market to fall in the near future?
Can we ask why?
Not because we know for sure it won’t, we just want to know why you think the market will fall anytime soon?
Why will the market bake a different cake, whilst the market ingredients remain the same?
Demand=buyers=people=population is going up and not likely to stop, until change.
Supply=homes=land is going down and not likely to change.
This is a Demand, Supply and Price Interaction outlined by economists a few centuries ago (stood the test of time), tweaked as it applies to Inner Melbourne Home Market today.
<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/2017/02/28/DandS-597x448.jpg" width="597" height="448">
 
Here are the major political parties increasing Demand/Buyers/Population policies. Google was the search function.
Liberal Party: We could not find a population policy among their key policies. 
Labour Party: We could not find a population policy among their top 100.  At least they were attempting to address the housing issue.
Greens: We found a population policy – well, it’s a commentary. But let’s be fair – at least they recognise that population is an issue. 
One Nation: They do not appear to have an easy to find population policy – they do have a migration policy that states a zero net migration. Dick Smith supports this part – No, not the boat people and Muslim commentary – the population management policy of zero net migration and infrastructure. 
None of the above is designed to be a criticism of politicians, we believe most are sincere and trying and that is not our role at James Buyer Advocates, as we see it.
Anyway back to the Demand=Buyers=Population side of the Home Market.
We hear you – what about interest rates and income and debt?
Yes, they affect (mainly at the lower levels), but the real driver is population demand, mainly from overseas.
Our belief, at the higher level, is the Inner Melbourne market has moved through the phase of infinite demand and supply interactions to a more finite one.
Our belief, at the higher level, is the Inner Melbourne market is slowly moving away from income, debt and interest rates; to an asset wealth exchange. In our opinion, assets not income are now beginning to steer the Inner Melbourne High End market.
Meaning the Inner Melbourne home-with-land market is moving to finite asset to asset transactions within any given time period and an increasing number of the interactions will only involve wealthy overseas investors, local intergenerational wealth and the occasional new-to-the-scene successful entrepreneur/very high salary earner – rather than banks, interest rates and anybody can buy a home.
Melbourne through the internationalism of its market, through Australia’s population and immigration policies (particularly the 2009 FIRB change) is in the process of becoming like Mumbai, New York, Inner London – where homes are exchanged on a different basis and with different players to mum and dad, rolling up to a bank, out to an auction and sign a contract, after they had a idea they wanted a nice house in Hawthorn last week.
Those days are well and truly gone for many and getting that way for others. That is not to say that another GFC would not have a significant effect on the Inner Melbourne market, of course it would, as debt is still involved. However, in our opinion, it would need to be as serious as that, for there to be a significant drop in prices.
Economic cataclysms are not that common and the buyers and sellers that recover best are usually the bricks’n’mortar asset rich anyway.
Our point – the logic of an Inner Melbourne homebuyer waiting for a meaningful drop in prices is, well, seemingly illogical to us.
Why will prices drop when the government and the opposition have no obvious focus on demand=buyers=population policies except full steam ahead – meaning more and more population (read more and more buyers, read more and more demand)? That is the demand side.
On the supply side it’s also just as simple.
Land and Infrastructure – they are not making it any more.
There will be no long lasting significant increase in supply in Inner Melbourne (ever again).
In fact we are losing more and more land to make more and more apartments.
As well, many buyers (local and overseas) are buying and holding and not selling – further reducing supply.
Many of these apartments are being bought by buyers on no stamp duty – so no contributions to infrastructure in the form of new taxes.
And whilst it was a bit of a joke, they are not making anymore infrastructure – it’s actually unfortunately sort of true (governments are not focussing on keeping pace anyway – they are more concerned about welfare and refugees, than new railways and regional living and immigration control).
We are not looking to suggest there should be specific changes on anything, that is for our leaders, whom we support.
All we are trying to do is outline the real issues – the real situations – so as our buying clients can make informed decisions going forward.
Noticed the increased traffic lately?  
That is demand=buyers=population increase and supply=land &amp; infrastructure decrease.
So back to the question we ask our clients/buyers – why do you think prices on good quality homes in Inner Melbourne will fall any time soon – unless there is a major change in …….. something?
Is waiting a good strategy?
Is buy-now a better strategy (if it’s the right home long term)?
Unless you see a major change in population policies, such as immigration and/or a big push to regional infrastructure or ….. something else we can’t see now, then, in our opinion at James, good homes with land will continue to rise and rise and rise in price, in the longer term future (yes of course with hiccups along the way)…….. and interest rates……Mmmm – not sure what affect they might have………. some yes……….but………. that may be history, the game may have changed?
Macro Change – will it come?
Our leaders current assessment is business wealth, turnover, profits, trade and so on is of greater community importance than owning your own home, village atmosphere, culture and so on.
They may be right, maybe its a pipe dream – personally we feel sad about that.
There is talk around the Inner Melbourne home buying market edges like monetary policy tweaking, but there is silence, a vacuum of policy about immigration and population (the real drivers) – and many buyers are just hoping things will be different, so they are not speaking up – population increase is the elephant in the room.
Hope is great, but it is action that changes things.
Are there any signs of action and change coming on a macro level?
If the Melbourne market was Canberra and buyers were kangaroos, there would be some calls for a cull – eg their would be noise in an attempt to reduce the problem – if there was going to be widespread action and change.
If the Melbourne market was the environment, many would be up in arms protesting about overgrazing and looking for strategies for change – there would be noise if there was going to be widespread action and change.
There is no noise on population issues – there will be no change in demand without you hearing the noise.
The macro noise is not there.
So Micro Change – yes you – you still have options.
1) Lie in the foetal position and give up on buying a good home.
2) Keep thinking the same ingredients will bake that different cake for you – knowing that almost every quality home has between 3 and 7 bidders up against you – and that number is increasing and your opposition is becoming better resourced (they are being forced to).
3) Or act now – do something about it – engage with a different idea in a different way – you need to make it happen. You may need to understand there is no magical wand coming from above. Maybe get some professional assistance – just a thought.
James Buyer Advocates – 5 from 5 this February month so far (for normal people/buyers) – but we were very, very picky on which properties we went after.
Suggestion to get you rolling on the MICRO.
Consider making an immediate mindset change in dealing with the population and home buying issue.
Consider moving away from focussing on saving money in the deal and buying cheap to focussing on doing what you need to do ($ prudently of course) to secure a good long term home (for you), that will last you 10-15 years and longer.
Your solutions may well be micro (you) – as macro ones simply ain’t happening anytime soon.
MAL JAMES is principal of<a href="https://www.jamesbuyeradvocates.com.au/" target="_blank" title="James Buyer Advocates" rel="nofollow"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes auction reports, advice and in-depth market analysis on James' website.
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jchancellor-FAypfDUnLy

Let’s face a home truth – the elephant in the room – population: Mal James

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Melbourne hosted the highest number of February auctions on record over the weekend and recorded a boom time clearance rate according to Domain's Dr Andrew Wilson.
He said Sydney had its third consecutive weekend clearance rate above 80 percent over the weekend.
"It was the first Super Saturday of auctions in Sydney with a February record of 940 homes listed, which was significantly ahead of the 674 auctioned the previous Saturday, and the 654 offered over the same weekend last year," he said.
"The previous February record for Saturday auctions was 785 in 2014.
"Inner-suburban, higher-priced suburban regions dominated the results in a pattern that has been consistent in Sydney over the past year.
"The Blue Mountains had a 100 percent clearance rate at the weekend, although only a single reported auction. Next highest clearance rate was the upper north shore with 86.9 percent, followed by the inner west with 85.6 percent
"The city and east recorded 84.2 percent and the highest sales at 117, the lower north scored 83.8 percent and the northern beaches 82.5 percent.
"Melbourne recorded a remarkable clearance rate of 82.4 percent on Saturday, which was higher than the 79 percent the previous weekend, and well ahead of the 75.3 percent over the same weekend last year.
"All of Melbourne’s suburban regions recorded strong clearance rates at the weekend with the early-season market now in full swing and regional results resembling the consistency and narrow range of outcomes typical for most of last year.
"And again similar to last year, lower priced outer-suburban regions continue to record the highest results. 
"The south-east recorded the highest clearance rate on Saturday with 88.1 percent followed by the north-east 86.3 per cent and the west had 85.9 percent with the highest number of sales at 152."
In Melbourne, 17 Spring Road, Malvern (above) sold for $5,075,000 over the weekend. 
Sydney's most affordable sale was at 28/144 Moore St, Liverpool. The two bedroom unit sold for $423,500 (below).
<img src="https://www.urban.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%2011.39.53%20AM.png" alt="">
 
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jonathanchancellor-7SQnKwU6yx

Boom time clearance rate for Sydney, Melbourne auctions 

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The glamour Geelong AFL couple, Jimmy Bartel and his wife Nadia and son Aston, the new Essendon captain Dyson Heppell, St Kilda star Leigh Montagna and the Western Bulldogs midfielder Mitch Wallis were all sideline spectators in the weekend Albert Park auction crowd.
They, along with 300 others on <a href="https://www.realestate.com.au/sold/property-house-vic-albert+park-124620682" target="_blank">Park Street</a> (above), saw three bidders compete for the big-ticket four-bedroom Victorian home.
Marshall White agent Oliver Bruce asked for an opening bid of $3.5 million but was immediately met with a $4 million offer from the eventual buyer. 
It soared about $700,000 over reserve selling at $4.735 million. Bruce told the Herald Sun that the house was “the most inspected property” he’d ever marketed.
It traded in 2013 at $2.31 million, before its rear extension and renovation.
Melbourne had the cheapest and dearest reported weekend auction sales.
A four bedroom, <a href="https://www.realestate.com.au/property-house-vic-malvern-124595406" target="_blank">three level Malvern</a> home (below) sold for $5,075,000. The opening bid was $100,000 over the $4.3 million reserve.
<img src="https://www.urban.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%208.28.56%20AM.png" alt="">
The Spring Road property, with views to the Dandenong ranges, comes with a home theatre, wine cellar, and lift access to the six car garage.
The property was marketed through RT Edgar as the latest offering from home builders R &amp; K Developers.
A two bedroom <a href="https://www.realestate.com.au/property-apartment-vic-mernda-124510094" target="_blank">apartment at Mernda</a>, which has been a $310 a week rental in the City of Whittlesea suburb, fetched $245,000.
<img src="https://www.urban.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%208.29.59%20AM.png" alt="">
Offered through Ray White, the Rowell Drive unit fetched less than its $295,000 off the plan price.
The auction price guidance had been $240,000 to $260,000 for the 70 sqm ground floor apartment that was completed in 2012.  
Sydney had the highest bid property, but the <a href="https://www.domain.com.au/124-126-paddington-street-paddington-nsw-2021-2013355286" target="_blank">combined Paddington terraces </a> (below) did not sell, passed in at $8.1 million.
<img src="https://www.urban.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%208.31.29%20AM.png" alt="">
Set on 394 sq m on Paddington Street, there are 520 sqms of interior living space.
At Longueville, there was a $5,050,000 sale of the 1898 Federation <a href="https://www.realestate.com.au/sold/property-house-nsw-longueville-124603454" target="_blank">four-bedroom home, Nirvana</a>, (below) owned by the late obstetrician and gynaecologist Rod Macdonald and his widow Robin.
<img src="https://www.urban.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%208.32.24%20AM.png" alt="">
The home sat on almost 1600 sq m on Mary Street. 
Back in Melbourne, <a href="https://www.realestate.com.au/sold/property-house-vic-toorak-124539974" target="_blank">the Toorak home</a> of late socialite Lady Susan Renouf (below) sold in a post-auction negotiations for around its quoted price of $5 million.
Across the capital cities, the number of properties taken to auction increased dramatically, with 3,232 auctions held, according to CoreLogic’s latest report.
 <img src="https://www.urban.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%208.34.03%20AM.png" alt="">
It was significantly higher than over the same weekend in previous years, with auction volumes generally reaching their seasonal peaks around March.
"The record highs for the number of auctions were confined to the Sydney and Melbourne markets, where auction numbers were the highest on record for the month of February," Kevin Brogan at CoreLogic noted.
Despite the high auction numbers for February, the combined capital city clearance rate also reached a new record high over the year to date.
Some 78 per cent of auctions recorded a positive result, which is higher than the 71 per cent last year, across its lower volume of 2,700 auctions.
"Overall activity has increased week-on- week, with volumes increasing across all the capital cities, with clearance rates also rising in most capital cities with the exception of Canberra and Perth, where clearance rates fell over the week," Kevin Brogan said.
Melbourne's clearance rate rose to 80.1 per cent, up from 75.7 per cent last weekend and remaining above the clearance rate for the city one year ago of 74.8 per cent.
Melbourne saw a substantial increase in volumes, with 1,613 auctions held, higher than the 1,091 held last week and also higher than a year ago when there were 1,347 Melbourne auctions.
Of the 9 individual Melbourne sub-regions, the strongest performer, in terms of clearance rate was the Outer East region where 87 per cent of  auctions were successful.
Sydney’s preliminary auction clearance rate increased to 81.5 per cent.
Last week, Sydney’s clearance rate was 80.6 per cent, while one year ago results sat at 72.1 per cent.
This week volumes were higher, up to 1,169 from 856 last week and also higher than what was seen over the same week last year with 919 Sydney homes.
The Inner West sub-region of Sydney has shown the strongest performance with 90.2 per cent of the 61 reported results selling.
There were 174 Brisbane homes taken to auction, with 99 results reported so far showing a preliminary clearance rate at 63.3 per cent, up from 47.1 per cent last week and higher than one year ago, when 57.4 per cent of the 179 properties taken to auction were successful.
Brisbane's priciest was when the restored home, <a href="https://www.propertyobserver.com.au/%20http:/www.realestate.com.au/property-apartment-qld-ascot-124074438%20" target="_blank">Arden at Ascot</a> (below) sold for $3.55 million through Ray White. The unrenovated 1913 home cost $2.25 million in 2006, then it was expanded to its 1460 sqm offering with an $800,000 purchase of a neighbouring 400 sqm block in 2013.
<img src="https://www.urban.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%208.35.24%20AM.png" alt="">
Adelaide saw a preliminary clearance rate of 76.3 percent, with 80 reported results across a total of 121 scheduled auctions.
In comparison, over the previous week Adelaide’s clearance rate was 65.8 percent and 64 percent one year ago.
There were 46 Perth auctions this week, with a preliminary clearance rate of 21.4 percent. Last week, 31.0 percent of the 42 auctions held were successful.
Across Canberra a total of 100 auctions were held this week, compared to 92 last week and 75 at the same time last year.
Canberra’s preliminary clearance rate of 77.3 percent is lower than the prior 80.2 percent result.
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AFL stars line up as spectators at Albert Park auction  

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Across the combined capital cities this week, the number of properties taken to auction increased dramatically, with 3,232 auctions held, according to CoreLogic’s latest report.
The property data firm says that is significantly higher than what has been recorded over the same period across previous years, with auction volumes generally reaching their seasonal peaks around March.
The record highs for the number of auctions were confined to the Sydney and Melbourne markets, where auction numbers were the highest on record for the month of February.
<a href="https://www.propertyobserver.com.au/images/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.16.07%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/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.16.07%20am.jpg" alt="">
Despite auctions reaching record highs for February, the combined capital city preliminary clearance rate also reached a new record high over the year to date.
78.6 per cent of auctions recorded a positive result this week, which is higher than the 71.4 per cent last year, across a lower volume of auctions (2,701).
<a href="https://www.propertyobserver.com.au/images/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.16.20%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/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.16.20%20am.jpg" alt="">
Overall activity has increased week-on- week, with volumes increasing across all the capital cities, with clearance rates also rising in most capital cities with the exception of Canberra and Perth, where clearance rates fell over the week.
Across Melbourne, this week’s preliminary clearance rate rose to 80.1 percent, up from 75.7 per cent last week and remaining above the clearance rate for the city one year ago (74.8 per cent).
This week, Melbourne saw a substantial increase in volumes, with 1,613 auctions held, higher than the 1,091 held last week and also higher than a year ago when there were 1,347 Melbourne auctions held over the week.
Of the 9 individual Melbourne sub-regions, this week the strongest performer, in terms of clearance rate was the Outer East region.
<a href="https://www.propertyobserver.com.au/images/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.14.32%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/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.14.32%20am.jpg" alt="">
So far, CoreLogic has collected 77 results for the region and the preliminary result shows 87.0 percent of these auctions were successful.
Sydney’s preliminary auction clearance rate increased to 81.5 percent this week, across a higher volume of auctions.
Last week, Sydney’s clearance rate was 80.6 percent, while one year ago results show that 72.1 per cent of Sydney homes taken to auction were successful.
This week volumes were higher, up to 1,169 from 856 last week and also higher than what was seen over the same week last year, when 919 Sydney homes were taken to auction over the week.
<a href="https://www.propertyobserver.com.au/images/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.14.39%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/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.14.39%20am.jpg" alt="">
The Inner West sub-region of Sydney has shown the strongest performance so far this week, with 90.2 per cent of the 61 reported results selling.
There were 174 Brisbane homes taken to auction this week, with 99 results reported so far.
<a href="https://www.propertyobserver.com.au/images/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.14.47%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/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.14.47%20am.jpg" alt="">
The preliminary clearance rate for the city is 63.3 percent, up from 47.1 percent last week and higher than one year ago, when 57.4 percent of the 179 properties taken to auction were successful.
Across the Gold Coast 40 results have been reported so far, with a success rate of 55.0 percent (22 sales).
This week, Adelaide saw a preliminary clearance rate of 76.3 percent, with 80 reported results across a total of 121 scheduled auctions.
<a href="https://www.propertyobserver.com.au/images/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.14.56%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/2017/02/26/Screen%20Shot%202017-02-26%20at%2010.14.56%20am.jpg" alt="">
In comparison, over the previous week Adelaide’s clearance rate was 65.8 percent and 64.0 percent one year ago.
There were 46 Perth auctions this week, with a preliminary clearance rate of 21.4 percent. Last week, 31.0 percent of the 42 auctions held were successful.
Across Canberra a total of 100 auctions were held this week, compared to 92 last week and 75 at the same time last year.
Canberra’s preliminary clearance rate of 77.3 percent is lower than it was the previous week (80.2 per cent).
In Tasmania, 6 auctions were reported to CoreLogic with 3 sales.
Canberra saw the sale of 45 Tinderry Circuit, Palmerston for $435,000 (above).
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Weekend auction success rate highest for the past year: CoreLogic

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National auction numbers are up this week with 1,555 Melbourne auctions scheduled and 1,142 homes set to be taken to auction across Sydney according to CoreLogic.
Some 3,122 auctions are slated for this weekend. According to CoreLogic, auction activity is higher than the corresponding week last year, with 2,701 auctions.
CoreLogic said outside of Sydney and Melbourne, each of the remaining capital cities is set to see a higher number of auctions this week compared to last week with 161 auctions are set to take place in Brisbane this week, 44 more than the previous week.
"The three busiest suburbs for auctions this week are all in Melbourne with Reservoir (28), St Kilda (26) and Elwood (20) topping the list. The busiest suburb for auctions outside of Melbourne is Sydney’s Mosman, with 18 auctions scheduled."
CAPITAL CITY AUCTIONS THIS WEEK
                        Sydney: 1,142
                        Melbourne: 1,555
                        Brisbane: 161
                        Adelaide: 114
                        Perth: 44
                        Canberra: 95 
 
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National auction numbers up this week: CoreLogic

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Sydney weekend auctions yielded boom time results and market momentum in Melbourne is building according to Dr Andrew Wilson.
He said Sydney recorded its second consecutive boom time result with a clearance rate of 83.1 percent and Melbourne recorded a clearance rate of 79 percent on Saturday.
"Higher auction numbers failed to dampen the Sydney market," he said.
"About 675 home were listed on Saturday, which was well ahead of the 546 auctioned the previous Saturday and the 558 offered over the same weekend last year.
 "A total of $460.9 million of property was reported sold at auction in Sydney at the weekend.
"The north-west had a clearance rate of 95.2 percent, with 20 out of 21 reported auctions selling. Similarly, the Central Coast was strong at 92.9 percent, with 13 out of 14 homes sold.
"The next highest was the south with 91.8 percent, followed by the inner west with 89.6 percent, the northern beaches 87.2 percent and the lower north at 86 percent.
"In the upper north shore the clearance rate was 85.9 percent, the city and east at 79.8 percent with the highest sales at 75. The clearance rate in Canterbury Bankstown was down to 70.6 percent and the west and south-west each recorded  66.7 percent.
"Melbourne’s northern suburbs again recorded strong auction results at the weekend, while the inner city was back as a top performer after trailing the regions the previous Saturday.
"All regions recorded clearance rates well above 70 percent for the first time this year – another indication of the underlying consistency of the local market.
"The north-east recorded the highest clearance rate at 86.8 percent, followed by the inner city at 83.7 percent, the north at 82.1 percent, the south-east at 80.6 percent, the inner south at 79.8 percent, the inner east at 77.5 percent, the west at 75.5 percent and the highest sales at 105, and the outer east at 74.2 percent."
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Boom time results for Sydney auctions, Melbourne building momentum

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The combined capital city weekend clearance rate remained in the high 70s, despite auction volumes reaching the highest level so far this year
The larger number of auctions was driven by a substantial rise across the Sydney and Melbourne markets, while there was a small decrease across the smaller capital cities.
The strongest clearance rates, based on preliminary data, were in Sydney and Canberra, where 83 per cent and 81 percent of auctions returned a successful result.
Melbourne recorded a strong preliminary clearance rate, with 76 percent of auctions clearing, just below the 77 percent national average.
The preliminary combined capital city clearance rate was higher on the weekend than the 71 percent in same period last year.
The 2,280 auctions held was lower as 2,347 auctions were held over the same time last year.
<a href="https://www.propertyobserver.com.au/images/2017/02/19/Screen%20Shot%202017-02-19%20at%209.57.23%20am.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/19/Screen%20Shot%202017-02-19%20at%209.57.23%20am.png" alt="">
Across Melbourne, this week’s preliminary clearance rate was recorded at 76.7 percent, up from 75.9 percent last week and also higher the clearance rate recorded over the same week last year (74.1 percent).
This week, Melbourne was host to 1,103 auctions, higher than the 556 held last week, and only marginally lower than what was seen one year ago, when there were 1,105 Melbourne auctions held over the week.
<div class="cq-article-content-paras section">
This weekend in Melbourne, the number of properties for sale is expected to rise to 1400 with Domain's Dr Andrew Wilson suggesting the listings were big for February when auctions were usually only just starting to build up again.
</div>
<a href="https://www.propertyobserver.com.au/images/2017/02/19/Screen%20Shot%202017-02-19%20at%209.59.33%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/2017/02/19/Screen%20Shot%202017-02-19%20at%209.59.33%20am.jpg" alt="">
Of the Melbourne sub-regions, the highest clearance rate was recorded across the North East region, with preliminary results showing 85.5 percent of the 91 auctions were successful.
Sydney’s preliminary clearance rate this week was 83.5 percent across 661 auction results.
There were a total of 844 auctions held across the city. Looking back at the same weekend last year, 800 auctions were held across Sydney and a clearance rate of 76.5 percent was recorded.
The North Sydney and Hornsby region hosted the most auctions of any Sydney sub-region this week, with 137 properties taken to auction.
"It's another extraordinary result for Sydney," Domain chief economist Dr Andrew Wilson told Domain.
"Next week it could be even bigger with the number of property listings to rise about 30 percent to 900." 
<a href="https://www.propertyobserver.com.au/images/2017/02/19/Screen%20Shot%202017-02-19%20at%209.59.42%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/2017/02/19/Screen%20Shot%202017-02-19%20at%209.59.42%20am.jpg" alt="">
The preliminary clearance rate for the region is 89.8 percent across 108 results.
Brisbane’s preliminary clearance rate this week was 50.6 percent, decreasing from 53.1 percent last week.
There were 117 Brisbane auctions this week, compared to 131 last week.
<a href="https://www.propertyobserver.com.au/images/2017/02/19/Screen%20Shot%202017-02-19%20at%209.59.53%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/2017/02/19/Screen%20Shot%202017-02-19%20at%209.59.53%20am.jpg" alt="">
The Gold Coast was host to 59 auctions this week.
Based on the 42 results reported to CoreLogic so far, 50.0 percent were successful.
Adelaide recorded a clearance rate of 68.9 percent across 86 auctions this week, up from 66.7 percent across a higher volume of auctions last week (91).
At the same time last year, 112 homes were taken to auction, with 64.6 percent recording a successful result.
<a href="https://www.propertyobserver.com.au/images/2017/02/19/Screen%20Shot%202017-02-19%20at%2010.00.03%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/2017/02/19/Screen%20Shot%202017-02-19%20at%2010.00.03%20am.jpg" alt="">
Perth’s clearance rate of 36.8 percent across 41 auctions is up from the previous week, when 74 auctions were held and a clearance rate of 25.0 percent was recorded.
Over the same week last year, the clearance rate was a lower 41.0 percent, and 42 auctions were held.
Canberra’s preliminary auction clearance rate of 81.5 percent this week is consistent with last week, when the final auction clearance rate was 81.5 percent and higher than the 61.9 percent recorded last year.
Tasmania saw 5 auctions take place this week, 3 results have been reported so far, with 1 sale.
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Preliminary auction clearance rate remains in high 70 percent: CoreLogic

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Sydney's property market needs more listings to lessen the pressure that has contributed to the recent rampant price growth.  CoreLogic's Hedonic Home Value Index calculates since the growth cycle commenced in mid-2012 that Sydney dwelling values have increased by a cumulative 70 percent.
We're only at the early stages of 2017 but there are tentative signs the listings drought may be breaking.
Total Sydney listings sat at around 18,000 at the end of January - six percent down on the same time last year. But a week on it is 19,200 which is 11 percent lower.
New listings were up nine percent with 7,000 hitting the market over January, but now at 7700 over the past 28 days, which is just up one percent on the same time last year.
Any sustained higher listing numbers ought show up in an easing in the auction clearance rate, but seemingly not quite yet.
The opening 78 percent auction weekend was up on last year's 75 percent, according to CoreLogic. And last weekend it jumped into the mid-80s.
Even Sydney's annualised price growth has edged up in the past five week, currently sitting at 16.3 percent, up on the 15.5 percent growth during 2016.
That's come because investors have returned big time, competing with home buyers. 
The real estate agency, McGrath Estate Agents, has reported little change in their February numbers in Sydney as the Autumn auction season approaches.
McGrath has 349 scheduled auctions compared to 344 in 2016 with the eastern suburbs the busiest region with 66. 
McGrath’s chief auctioneer, Scott Kennedy-Green said these low volumes have already translated into competitive bidding at auctions. 
Last weekend McGrath sold 91 percent of their 23 properties with all seven sold in the $1.5 million to $3 million bracket.
Kennedy-Green indicated that February 25 will be his busiest auction Saturday for February with 146 auctions. 
McGrath Ltd's chairman, Cass O'Connor blames rocketing real estate prices having created "an environment in which vendors are reticent to sell, fearing they will not get back into the market."
She said the trend really set in this time last year.
"It was as though every vendor woke up in the New Year and made a resolution not to sell," she told shareholders last November. 
Taking a more positive marco view, the LJ Hooker network chairman Janusz Hooker noted while listings were low, it's not as bad as many people were saying. 
As a percentage of total stock it is at historic lows, he noted with under three per cent of total stock turning over. 
But Hooker points out the industry is growing at 200,000 homes per annum.
But the LJ Hooker boss acknowledges Sydney has too many buyers and too few listings. 
Buyers still have some leverage in the current market, with lingering listings from last year and longer selling times leading to higher rates of required vendor discounting.  
Ofcourse some of 2016's frustrated would-be buyers have abandoned their search. Many will now renovate rather than move, as it is more affordable than ever before. 
But the new year always brings a new pool of buyers. Good luck!
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Sydney needs listings for balanced market

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<div id="post-body-728780619796863473" class="post-body entry-content">
<div>Never mind the record high temperatures in Sydney at the weekend, the preliminary auction clearance rate rose as high as an exceptionally strong 84.8 percent (CoreLogic), while Domain had the figure at 84.2 percent. A blazing start to the auction year, then. This was the first weekend from which there was a reasonable sample of auctions to draw data. The median auction price in Sydney was $1,200,000, which was 15 percent higher than on the corresponding weekend of last year when the median price under the hammer was $1,041,500. There will, however, be far bigger tests ahead as auction listings ramp up from here.</div>
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<a href="https://www.propertyobserver.com.au/images/2017/02/13/Sydney.jpg" target="_blank">Click to enlarge</a> <div class="separator"><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/2017/02/13/Sydney.jpg" alt=""></div>
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PETE WARGENT is the co-founder of <a href="https://allenwargent.com/">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/">blogger</a>. 
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