Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

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[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

&nbsp;

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils signature penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

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." />

&nbsp;

&nbsp;

&nbsp;

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.

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

Auctions

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Melbourne reported a clearance rate of 78.7 percent on Saturday, with Sydney posting a boom-time weekend clearance rate of 84.2 percent according to Domain's Dr Andrew Wilson.
He said about 470 homes were scheduled to go under the hammer in Melbourne over the weekend, similar to the 466 auctions conducted over the same weekend last year.
"Higher auction numbers also translated into a more representative spread of regional listings at the weekend, with a higher proportion of inner suburban, higher-priced homes going under the hammer. This trend will escalate over coming weekends," he said.
"Melbourne’s northern suburban region continued to record the highest weekend clearance rates, as it did for most of last year. 
"The north east was tops at 91.4 percent, followed by the north at 87.5 percent, the inner east at 86.4 percent, the west at 80.3 percent and the highest sales with 61, the outer east at 76.6 percent, the inner south at 76.4 percent, the south east at 72.4 percent and the inner city trailing again this weekend with 67.6 percent.
"About 540 homes were listed for auction in Sydney on Saturday, which was a record early-February offering.
"Inner suburban regions were again the top performers in Sydney at the weekend, which continued the consistent trend of most of the past year. 
"The top clearance rate was recorded by the lower north with a booming 94.6 percent, followed by the inner west with 93.3 percent and the most sales at 56.
"The city and east had a clearance rate of 88.1 percent, Canterbury Bankstown with 83.3 percent, the central coast with 82.4 percent, the upper north shore with 82 percent and the south west with 81.8 percent.
"The northern beaches had a clearance rate just under 80 percent at 79.5 percent, while the south and the north west each recorded a 78.3 percent clearance rate. The west trailed at 68.4 per cent and the Blue Mountains even less at 50 percent."
 
 
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jonathanchancellor-7SQnKwU6yx

Sydney posts boom-time weekend clearance rate, Melbourne numbers high

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It has been strong week for auction activity across the capital cities, with the number of auctions more than doubling compared with last week in Sydney and Melbourne, according to CoreLogic's latest report.
The property data firm says that despite the surge in the number of auctions held, the combined capitals region recorded a preliminary auction clearance rate of 76.6 percent.
This is up from last week, when the final clearance rate dipped to 68.7 per cent.
Auction volumes saw a significant increase over the week, with volumes rising week-on-week across all of the capital cities, with the exception of Adelaide which saw a decrease over the week.
<a href="https://www.propertyobserver.com.au/images/2017/02/13/Screen%20Shot%202017-02-13%20at%209.53.02%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/2017/02/13/Screen%20Shot%202017-02-13%20at%209.53.02%20am.jpg" alt="">
There were 1,564 properties taken to auction across the combined capital cities this week, compared to last week’s 881.
At the same time last year, auction volumes were lower, with 1,400 capital city auctions held with a lower rate of clearance (71.8 per cent).
The two largest auctions markets, Sydney and Melbourne, recorded a preliminary clearance rate of 84.8 per cent and 75.4 per cent respectively.
<a href="https://www.propertyobserver.com.au/images/2017/02/13/Screen%20Shot%202017-02-13%20at%209.53.08%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/2017/02/13/Screen%20Shot%202017-02-13%20at%209.53.08%20am.jpg" alt="">
This suggests that vendors are still very much in the driver’s seat across these markets.
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j.ballantyne1990-6AQqhLzZaK

Strong February auction activity in capital cities: CoreLogic

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The auction market will start to gather momentum coming into February after the seasonal slowdown over the holiday period, with auction numbers doubling over the week across the combined capital cities, according to CoreLogic’s latest report.
The property data firm says that there were 867 auctions being tracked by CoreLogic this week, with a preliminary clearance rate of 70.8 per cent, compared to last week’s 71.6 per cent across 368 auctions.
<a href="https://www.propertyobserver.com.au/images/2017/06/Screen%20Shot%202017-02-06%20at%209.56.27%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/2017/06/Screen%20Shot%202017-02-06%20at%209.56.27%20am.jpg" alt="">
Although auction activity has shown a significant uplift over the week across the combined capitals auction volumes are increasing at a slower rate than what was seen over the corresponding period last year, when 916 auctions were recorded with a similar rate of clearance (70.1 per cent).
The lower volumes can be attributed to slower activity across the Sydney market, which was also evident over the same week last year, when volumes were lower over the given period compared to previous years.
<a href="https://www.propertyobserver.com.au/images/2017/06/Screen%20Shot%202017-02-06%20at%209.56.35%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/2017/06/Screen%20Shot%202017-02-06%20at%209.56.35%20am.jpg" alt="">
While the combined capital city clearance rate returned a strong result over the week, as auction numbers continue to gather pace we will get a clearer understanding if auction trends remain as strong as they were at the end of 2016.
In Melbourne, Australia’s largest auction market, a preliminary auction clearance rate of 77.5 per cent was recorded across 255 auctions this week.
This is almost double the volume recorded last week, although slightly lower than what was seen over the corresponding week last year.
<a href="https://www.propertyobserver.com.au/images/2017/06/Screen%20Shot%202017-02-06%20at%209.57.44%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/2017/06/Screen%20Shot%202017-02-06%20at%209.57.44%20am.jpg" alt="">
Last week, Melbourne’s final clearance rate was recorded at 82.4 per cent across 137 auctions.
During this time last year, 268 properties were taken to auction across Melbourne and a clearance rate of 77.6 per cent was recorded.
The busiest Melbourne sub-regions this week were Melbourne’s West region and the South East region, where 68 and 36 auctions were held respectively.
Sydney’s preliminary clearance rate this week was 78.1 per cent across 192 auction results.
There were a total of 255 auctions held across the city.
<a href="https://www.propertyobserver.com.au/images/2017/06/Screen%20Shot%202017-02-06%20at%209.57.49%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/2017/06/Screen%20Shot%202017-02-06%20at%209.57.49%20am.jpg" alt="">
Looking back at this weekend last year auction volumes were higher, when 313 auctions were held across Sydney and a clearance rate of 75.0 per cent was recorded.
Sydney’s North Sydney and Hornsby hosted the most auctions of any Sydney sub-region this week, with 39 properties taken to auction.
The preliminary clearance rate for the region is 82.1 per cent across 28 results.
There were 99 Brisbane homes taken to auction this week, with 67 results reported so far.
<a href="https://www.propertyobserver.com.au/images/2017/06/Screen%20Shot%202017-02-06%20at%209.57.56%20am.jpg" target="_blank">Click to enlarge</a>
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The preliminary clearance rate for the city is 58.2 per cent, down from 63.0 per cent last week and higher than one year ago, when 54.0 per cent of the 111 properties taken to auction were successful.
Across the Gold Coast 48 results have been reported so far, with a success rate of 47.9 per cent (23 sales).
A total of 143 Adelaide homes were taken to auction this week, with a preliminary clearance rate of 64.3 per cent across 84 results.
This is lower than the 70.5 per cent recorded over the corresponding week last year when 107 auctions were held across the city.
<a href="https://www.propertyobserver.com.au/images/2017/06/Screen%20Shot%202017-02-06%20at%209.58.12%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/2017/06/Screen%20Shot%202017-02-06%20at%209.58.12%20am.jpg" alt="">
In Perth, 35 auctions took place this week, with 14 results reported so far.
Perth’s preliminary clearance rate of 28.6 per cent across these 14 results is lower than both last week’s result (38.5 per cent) and the clearance rate from one year ago (35.3 per cent).
Canberra’s preliminary auction clearance rate of 75.4 per cent this week is higher than last week, when the final auction clearance rate was 72.7 per cent and higher than the 71.4 per cent recorded last year.
There were 11 Tasmanian auctions held this week, 2 were reported as sold
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Auction numbers double in all capital cities as February market gains momentum: CoreLogic

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There’s a well-versed property adage that the greater the supply, the weaker the sales success. 
And the opposite has been the case especially in Sydney and Melbourne. 
In 2017 across Australia there’ll be 1000s of auctions every week. 
To ensure your property buying success, <a href="https://www.propertyobserver.com.au/images/stories/marketing/ebooks/eBook_16-tips-for-buying-well-at-auction-in-2017.pdf" target="_blank">click here</a> to download our eBook, 16 tips for wise auction bidding.
 
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16 tips for buying well at auction in 2017

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The distraction of Christmas parties, shopping and holidays caught up with the bumper stock of weekend property auctions when the clearance rates dipped into the low 70s.
There was record volumes for this time of year, including some 70 plus auctions held Sunday, in an unusually high attempt to sell before Santa arrives.
There are nine Christmas Eve Saturday auctions scheduled across four states, according to realestate.com.au.
South Australia has the most Christmas Eve auctions with three listings.
It includes a a Goodwood cottage which is expected by the Harcourts listing agent to see investors, renovators and builders compete for the <a href="https://www.realestate.com.au/property-house-sa-goodwood-124291894" target="_blank">9 Blackett Street</a> offering, which has been a $395 a week rental.
The 1950s three bedroom cottage last sold at $505,000 in December last year.
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jchancellor-FAypfDUnLy

Goodwood auction among nine scheduled for Christmas Eve

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The distraction of Christmas caught up with weekend auction listings.
Not harshly, but the clearance rates did dip into the low 70s as record volumes came in a late December flood.
One of the failed offerings was a former lolly shop in Williamstown.
Marketed at $1.1 million plus, the <a href="https://www.realestate.com.au/property-house-vic-williamstown-124190858" target="_blank">45 Stevedore Street listing</a> was passed in at $1,265,000.
The Herald Sun reported the residence attracted a $1.3 million written offer post-auction to RT Edgar Williamstown.
The five-bedroom 1900 property was being offered for the first time in 21 years last selling at $189,000 in 1995.
There was success however at Brighton's Dendy Beach.
A newly built bathing box, built by the local council, sold at a record price.
It was listed through Nick Johnstone Real Estate agent Alan McGillivray, who given its distant location on the strip, gave a cautious mid-$200,000s price guidance.
But Box 85 sold on Saturday for $326,000. Painted orange and yellow, the box exceded recent records when $295,000 was set in early 2016 and mid-year when <a href="https://www.realestate.com.au/property-house-vic-brighton-122566182" target="_blank">bathing box 44</a> sold at $307,000.
he auctioneer Nick Johnstone told the crowd only three more of the boxes will be built.
There were three bidders.
A $4.6 million Warrawee home topped the nation's weekend auction sales.
The <a href="https://www.propertyobserver.com.au/https://www.dijones.com.au/properties-sold/listings/2721" target="_blank">2a Pibrac Avenue</a> offering sold two days before the weekend auction having been marketed with $4.5 million expectations through Di Jones Real Estate.
<img src="/images/2016/12/18/Warrawee.jpg" alt="">
The five bedroom architecturally-designed home on its 1560 sq m block had last sold at $1.5 million in 2003.
The cheapest was $250,000 at Frankston.
The 7/74 Beach Street offering was <a href="https://www.realestate.com.au/property-apartment-vic-frankston-124242762" target="_blank">a top floor two bedroom apartment</a> that had been recently renovated.
<img src="/images/2016/12/18/Frankston.jpg" alt="">
It was last listed for rent at $250 a week in 2014.
Melbourne's top sale was when <a href="https://www.realestate.com.au/sold/property-house-vic-canterbury-124207586" target="_blank">24 Alexandra Avenue, Canterbury</a> sold through Marshall White for $4,012,000.
<img src="/images/2016/12/18/Canterbury.jpg" alt="">
The brick 1910 five bedroom home sold in 2012 at $2,505,000.
Two bidders battled it out after it went on the market at $3.8 million.
CoreLogic's Kevin Brogan noted the combined capital city clearance rate fell slightly to 70.5 per cent, down from last week’s 71.6 per cent.
The number of properties taken to auction also fell across the capital cities, with 2,722 reported auctions, down from 3,432 last week, which was the second busiest auction week of the year.
<a href="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.46.12%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.46.12%20pm.jpg" alt="">
"However, compared to the corresponding week last year, auction activity is significantly higher, with 1,818 auctions and a lower rate of clearance (59.4 per cent) reported over the same period last year."
He advised auction numbers will remain relatively sedate over the festive period.
<a href="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.46.19%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.46.19%20pm.jpg" alt="">
In Melbourne the number of homes taken to auction fell to 1,286, down from last week’s seasonal high of 1,685, with the preliminary clearance rate for the city also falling over the week (75.7 per cent), down from 78.4 per cent over the previous week.
"However, this is significantly higher than the corresponding week last year when 875 auctions were reported with a clearance rate of 65.7 per cent," he noted.
Across Melbourne’s sub-regions, the Inner South region recorded the highest preliminary clearance rate of all the regions, with 84.4 per cent of the 113 auctions successful, followed by the Mornington Peninsula region, where an 82.5 per cent preliminary clearance rate was recorded across 52 auctions.
<a href="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.51.12%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.51.12%20pm.jpg" alt="">
Across Sydney, there was a lower volume of auctions this week, with 874 held, down from 1,168 over the previous week.
The preliminary clearance rate for the city saw a slight increase over last week, up to 74.1 per cent from 73.7 per cent last week.
"When compared to the same time last year, both, the clearance rate and number of auctions held are significantly higher than the equivalent period, when a 61.2 per cent clearance rate was recorded across 456 auctions," he said.
<a href="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.51.20%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.51.20%20pm.jpg" alt="">
The Sydney Northern Beaches region recorded the strongest clearance rate of all the Sydney sub-regions, with a 90.2 per cent preliminary rate of clearance across 64 auctions, while the Inner South West region recorded the highest volume of auctions (118).
There were 233 Brisbane properties taken to auction with a preliminary clearance rate of 45.7 per cent, up from 43.5 per cent last week and also higher than the same period last year, when 45 per cent of the 191 properties taken to auction were successful.
<a href="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.51.29%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.51.29%20pm.jpg" alt="">
Adelaide saw a preliminary clearance rate of 61.4 per cent across a total of 132 scheduled auctions.
"This is higher than the previous week, when Adelaide’s clearance rate was 58.3 per cent and also higher than the 57.3 per cent recorded one year ago."
<a href="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.51.39%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.51.39%20pm.jpg" alt="">
Perth’s clearance rate of 30 per cent across 47 auctions was up from the previous week, when 76 auctions were held and a clearance rate of 20.0 per cent was recorded.
Over the same week last year, the clearance rate was lower, when 25.8 per cent of the 68 auctions were successful.
Canberra’s preliminary auction clearance rate of 65.5 per cent this week is higher than last week, when the final auction clearance rate was 60.8 per cent and also higher than the 52.2 per cent recorded last year. 
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Williamstown lolly shop fails to sell in pre-Christmas rush to auction

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Confident sellers have flooded the Melbourne and Sydney auction markets this Saturday.
There are record year end weekend offerings.
Auctions are scheduled up to 5pm including <a href="https://www.realestate.com.au/property-house-nsw-turramurra-124210482" target="_blank">Chasecote</a>, (above) the 1907 home at Turramurra which has been listed through Chadwick Real Estate. Nearly 1100 homes are set to go under the hammer this weekend, which is below last weekend’s 1372 auctions but well ahead of the 717 auctioned over the same weekend last year in Melbourne.
Domain says Melbourne has listed 3606 weekend auctions over December which is ahead of the 3558 listed last December.
It is the highest number of December auctions on record for the local market. Melbourne’s western suburbs are yet again tops for auction activity this Saturday with 231 homes listed to go under the hammer.
Next highest is the north east with 178 auctions followed by the north 131, the outer east 120, the inner city 105, the inner south 96, the inner east 86 and the south east with 76 auctions listed. The most popular suburb for auctions at the weekend will again be Glen Waverley, with 21, closely followed by Epping 20, Richmond, St Albans and Bundoora each with 17.
Mount Waverley and Richmond each with 15 and Pascoe Vale with 14 auctions listed on Saturday. Last Saturday’s result was the highest for nearly two months and only the third time the local clearance rate has exceeded 80 percent all year, Dr Andrew Wilson, the Domain Group’s chief economist said.
Nearly 700 homes will go under the hammer in Sydney on Saturday which will be lower than last weekend’s 908 auctions but more than double the 320 auctioned over the same weekend last year.
Sydney has listed 2464 weekend auctions over December which is well ahead of the 1936 listed last December and the highest number of December auctions on record for the local market.
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Record auction rush in last minute December offerings in Melbourne and Sydney

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Next Saturday sees record volumes for the near-final Saturday before Christmas.
Then one solitary Sydney vendor will be trying their luck on December 24, Christmas Eve.  
Next Saturday, December 17 Melbourne will host more than 1000 auctions, which will be the highest final weekend offering for the city on record.
Domain's senior economist Dr Andrew Wilson says Sydney will host well over 600 auctions next Saturday, which is also the highest final weekend offering for the city on record.
The only known December 24 auction is at Leumeah.
Raine and Horne Strathfield agent David Porcellato is auctioning the five bedroom house at noon on Christmas Eve.
Mr Porcellato said he would never normally schedule an auction on Christmas Eve, but believed the home at <a href="https://www.realestate.com.au/property/29-menindee-ave-leumeah-nsw-2560" target="_blank">29 Menindee Avenue</a> had a good chance of selling under the hammer.
“Next year we don’t really know what the market will do, so we wanted to get in while it’s still very strong for the ­sellers,” he told the Daily Telegraph.
The caravan in the driveway suggests the owners wish to head off as soon as possible.
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Christmas Eve auction for Leumeah

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Capital city clearance rate remained strong for the first week of summer at 75 percent, while the number of auctions fell week- on-week, according to CoreLogic’s latest weekly report.
The property data firm says that the combined capital city preliminary clearance rate rose this week to 75 percent, up from last week’s final clearance rate of 73 percent.
This week’s auction market results indicate that clearance rates are maintaining strength coming into summer.
This is a trend that is very different compared with last year’s performance when auctions clearance rates were tracking in the high 50 percent to low 60 per cent range.
The number of properties taken to auction this week fell across the capital cities, with 3,173 reported auctions, down from 3,398 last week, which was the second busiest week for auctions this year.
<a href="/images/2016/12/05/Weekly%20clearance%20rate.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/05/Weekly%20clearance%20rate.jpg" alt="">
In Melbourne and Sydney, the number of auctions held have decreased (1,410 and 1,158) while across the smaller capital cities, auction volumes have increased over the week.
Auction activity is expected to slow over the remaining weeks of December, however the strong trend in clearance rates is showing no signs of easing.
<a href="/images/2016/12/05/Weekly%20clearance%20rate%20Melbourne.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/05/Weekly%20clearance%20rate%20Melbourne.jpg" alt="">
Melbourne’s preliminary clearance rate increased to 79.3 percent, up from 76.1 percent over the previous week.
Auction volumes decreased with 1,410 auctions held over the week, slightly down from 1,616 over the previous week.
Over the corresponding week last year, the clearance rate was 63.3 percent across 1,622 auctions.
Looking at Melbourne’s sub-regions, the North East region was the best performer in terms of clearance rates, with an 88.6 percent success rate across 166 auctions, followed by the North West region, where 83.0 percent of the 97 auctions sold.
<a href="/images/2016/12/05/Weekly%20clearance%20rate%20Sydney.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/05/Weekly%20clearance%20rate%20Sydney.jpg" alt="">
In Sydney, 1,158 auctions were held this week, down from 1,262 over the previous week.
The preliminary clearance rate of 77.7 per cent is up from 77.1 per cent last week, and also higher than the corresponding period last year, when a clearance rate of 52.9 percent was recorded across 1,070 auctions.
Looking at the sub-regions of Sydney, the Northern Beaches region recorded the strongest clearance rate of 88.9 percent across 112 auctions, while the North Sydney and Hornsby region had the highest volume of auctions (168).
<a href="/images/2016/12/05/Weekly%20clearance%20rate%20Brisbane.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/05/Weekly%20clearance%20rate%20Brisbane.jpg" alt="">
Brisbane was host to 202 auctions this week and so far 123 results have been reported with a preliminary clearance rate of 50.4 percent.
Last week, auction volumes across the city were lower with 191 auctions held across the city and a 43.8 percent clearance rate recorded.
Across the Gold Coast, there were 68 properties up for auction this week.
Of the 26 results reported, 57.7 percent were successful.
<a href="/images/2016/12/05/Weekly%20clearance%20rate%20Adelaide.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/05/Weekly%20clearance%20rate%20Adelaide.jpg" alt="">
This week, Adelaide saw a preliminary clearance rate of 64.4 percent, with 104 reported results across a total of 165 scheduled auctions.
In comparison, over the previous week Adelaide’s clearance rate was 63.1 percent and 60.0 percent one year ago.
Perth’s clearance rate of 67.3 percent across 88 auctions is up from the previous week, when 67 auctions were held and a clearance rate of 27.3 percent was recorded.
Over the same week last year, the clearance rate was a lower 36.0 percent, and 67 auctions were held.
Across Canberra a total of 136 auctions were held this week, compared to 112 last week and 123 at the same time last year.
Canberra’s preliminary clearance rate of 63.8 percent is lower than it was the previous week (72.1 percent).
Of the 14 Tasmanian auction results reported so far this week, 4 sales have been recorded.
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Clearance rate remains strong in first week of summer: CoreLogic

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GUEST OBSERVER
Auction volumes are set to increase slightly this week with 3,232 capital city auctions currently being tracked by CoreLogic this week compared to 3,207 auctions last week.
Auction volumes are set to rise this week in Melbourne, with 1,561 auctions scheduled. There are slightly fewer auctions scheduled across Sydney this week, with 1,126 homes set to be taken to auction. Auction activity is set to be higher than the corresponding week last year (2,989).
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Capital city auctions this week:
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<li>Sydney: 1,126</li>
<li>Melbourne: 1,561</li>
<li>Brisbane: 190</li>
<li>Adelaide: 150</li>
<li>Perth: 72</li>
<li>Canberra: 110</li>
</ul>
Glen Waverley in Melbourne is the busiest individual suburb for auctions across the nation this week, with 24 residential homes set to go under the hammer. Followed by Reservoir (23), St Kilda (21), Richmond (20) and Hawthorn (19), all of which are in Victoria.
Summary of last week’s results:
<a href="/images/2016/12/08/20161208-Capital-City-Stats.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/08/20161208-Capital-City-Stats.jpg" alt="">
Capital city auction clearance rates remained strong last week for the first week of Summer, final results show 72.3 per cent of auctions were successful. However, the number of properties taken to auction last week fell across the capital cities with 3,207 auctions held, down from 3,398 the previous week.
<a href="/images/2016/12/08/20161208-Capital-City-Timeseries.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/08/20161208-Capital-City-Timeseries.jpg" alt="">
Last week saw Melbourne’s final clearance rate increase to 77.3 per cent, from 76.1 per cent the previous week, while for Sydney, final results show that the clearance rate for the city fell from 77.1 per cent the previous week to 75.2 per cent last week. Auction numbers decreased over the week in both Melbourne and Sydney, down to 1,416 and 1,182 from the previous week’s 1,616 and 1,262 respectively.
Across the smaller auction markets, performance was mixed last week, with clearance rates improving in Adelaide and Perth, while Brisbane, Tasmania and Canberra’s clearance rate fell.
The Hunter region was the busiest non-capital city region last week, with 73 auctions; however Geelong recorded the strongest clearance rate at 86.1 per cent.
<a href="/images/2016/12/08/20161208-Subregions.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/08/20161208-Subregions.jpg" alt="">
 Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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