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.

&nbsp;

[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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After a stellar spring selling season, the tail end of Sydney's 2016 vendors could sense a weakened pitch to secure auction success.
So having bought around the corner in Clontarf, the former fast bowler Brett Lee and wife Lana were among those to take a pre-auction offer.
Their redundant Seaforth waterfront home (above) sold just before its <a href="https://www.realestate.com.au/sold/property-house-nsw-seaforth-123958158?rsf=edm:iap:listing" target="_blank">weekend auction</a>.
The paperwork was being signed inside the three level home on Sydney's Spit as auction attendees were being turned away.
Clarke and Humel agents Cherie Humel and Michael Clarke had given $4.8 million price guidance, with the last minute negotiations securing the buyer at $4.91 million.
The couple paid $4.25 million for the four bedroom waterfront in 2013. Every level of the three storey home overlooks Middle Harbour, from the opulent master suite to the infinity pool and spa.
The family are trading up into a four bedroom Clontarf residence that cost more than $5 million. 
A Middle Harbour home on the southern side of the Spit was the nation's top recorded sale.
The Parriwi Road auction was slow to start with a $6.2 million opening bid and was finally knocked down at $6.48 million.
Melbourne's highest sale was $5.1 million in Hawthorn through Jellis Craig (below).
<img src="/images/2016/12/05/Screen%20Shot%202016-12-05%20at%209.04.21%20AM.png" alt="">
It was a knockdown on one of Melbourne's most highly-coveted Scotch Hill streets, listed after being held by one family for 77 years.
The graceful double brick residence located on 1038sqm had no heritage overlay but rich timber panelling, soaring ornate ceilings and open fireplaces. 
The former <a href="https://www.realestate.com.au/sold/property-house-vic-richmond-124055102" target="_blank">Richmond fire station</a> (below) fetched well over reserve when its sold for $3.335 million at weekend auction, attracting a large Melbourne crowd.
<img src="/images/2016/12/05/Screen%20Shot%202016-12-05%20at%209.05.08%20AM.png" alt="">
It was on the market with the first bid of $2.5 million. 
There were three bidders with the Herald Sun reporting the buyer was a sculptor who planned to use the property as a studio for his works and potentially as a residence.
The property was sold by firefighter Peter Stafford, who operated a boarding house since it was purchased for $275,000 in 1992.
The fire station was built in 1893 as the MFB’s first Richmond base and decommissioned in 1966, when the base shifted to its current Church St location.
The four bedroom property came with the old watch room, billiards and locker room, fire engine bay and stables.
The combined capital city preliminary clearance rate rose this week to 75 per cent, up from last week’s final clearance rate of 73 per cent.
"This week’s auction market results indicate that clearance rates are maintaining strength coming into summer, a trend that is very different compared with last year’s performance when auctions clearance rates were tracking in the high 50 per cent to low 60 per cent range," Kevin Brogan at CoreLogic advised.
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.
The volumes were down in Melbourne and Sydney, to 1,410 and 1,158 respectively, but up across the smaller capital cities.
"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," Brogan noted.
Taking a late lead in the auction success rate, Melbourne’s preliminary clearance rate increased to 79.3 per cent, up from 76.1 per cent over the previous week.
Melbourne 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 per cent across 1,622 auctions.
Melbourne's North East region was the best performer in terms of clearance rates, with an 88 per cent success rate across 166 auctions, followed by the North West region, with 83 per cent selling.
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 was slightly up from 77.1 per cent last week, and also higher than the corresponding period last year, when a clearance rate of 52.9 per cent was recorded across 1,070 auctions.
The Northern Beaches region recorded the strongest clearance rate of 88.9 per cent across 112 auctions, while the North Sydney and Hornsby region had the highest volume of auctions (168).
Brisbane was host to 202 auctions this week and so far 123 results have been reported with a preliminary clearance rate of 50 per cent. 
Brisbane had the nation's cheapest sale when $220,000 was paid in Caboolture (below).
<img src="/images/2016/12/05/Screen%20Shot%202016-12-05%20at%209.07.02%20AM.png" alt=""> 
The three bedroom house at <a href="https://www.realestate.com.au/property/21-the-esplanade-caboolture-qld-4510" target="_blank">21 The Esplanade</a> sold at $290,000 in 2011.
It was initially listed in October last year at $320,000, then $280,000 by earlier this year.
This week, Adelaide saw a preliminary clearance rate of 64 percent, with 104 reported results across a total of 165 scheduled auctions. Perth’s clearance rate of 67.3 percent across 88 auctions was well up from recent lows.
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 when it was 72 percent.
Canberra offerings started at $437,000 at Chisholm.
Next weekend presents a "stringent test" for the market with about 900 Sydney auctions to be conducted, according to Domain economist Dr Andrew Wilson.
Melbourne auction numbers will rise this coming weekend with well over 1,300 listed.
 
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jchancellor-FAypfDUnLy

Red hot Richmond puts Melbourne as strong auction market

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The first weekend of the summer home auction market begins this Saturday with a big weekend expected for both Sydney and Melbourne.
In Melbourne, around 1200 homes are set for Saturday auction, down from last weekend's super Saturday season-high of 1366.
More than 850 homes will go to auction in Sydney compared to last weekend’s year-high of 961.
Domain group chief economist Dr Andrew Wilson said the Melbourne auction market is however set to remain highly active over December with well over 3000 homes likely to go under the hammer before Christmas. 
"Melbourne’s western suburbs are again tops for auction activity this Saturday with 205 homes listed to go under the hammer," he said.
"Next highest is the inner south with 182 auctions followed by the inner city 159, the outer east 149, the north east 148, the inner east 126, the north 93 and the south east with 78 auctions listed.
"The most popular suburb for auctions at the weekend will again be Reservoir with 18 closely followed by Mt Waverley 17, St Kilda and Craigieburn each with 16, Richmond 15 and a number of suburbs with 14 auctions listed including Glen Waverley, East Bentleigh and Elwood.
"The heady Melbourne home auction market produced an another unequivocally good result for sellers last weekend despite the spring Super Saturday surge in listings  
"Melbourne reported a clearance rate of 77.5 percent last Saturday which was just below the 78.7 percent recorded the previous weekend but again well ahead of the 66.2 per cent recorded over the same weekend last year."
"Sydney’s south has the highest number of auctions this weekend with 118 followed by the inner west 113, the upper north shore 109, the city and east 94, the lower north 90, the west and the northern beaches each 81, the south-west 57, Canterbury Bankstown 47, the north-west 36, the central coast 26 and the Blue Mountains with one auction scheduled at the weekend.
"Blacktown is the most popular auction suburb in Sydney this weekend with 16 followed by Manly 12, Mosman 11, Hurstville nine, and a number of suburbs with eight auctions listed including Wahroonga, Ashfield, Eastwood, Epping and Chatswood. 
"Sydney reported a clearance rate of 78.8 percent last Saturday, which was only just below the 79.5 percent recorded the previous weekend and well ahead of 58.6 per cent recorded over the same weekend last year."
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jonathanchancellor-7SQnKwU6yx

First weekend of summer auctions hot in Sydney, Melbourne

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Clearance rates remain steady across all major auction markets, according to CoreLogic’s weekly market report.
The property advisory firm says that CoreLogic collected results for 90 percent of the 3,403 capital city auctions which took place last week.
Last week was the second highest number of auctions held so far this year.
Despite the high volume, clearance rates held firm across the major auction markets, with Sydney recording a final clearance rate of 77.1 percent across 1,121 reported auction results.
The figures relate to November 27, not as the chart advised.
<a href="/images/2016/12/01/Capital%20city%20auction%20clearance%20rates.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/01/Capital%20city%20auction%20clearance%20rates.jpg" alt="">
The largest auction market, Melbourne, recorded a clearance rate at 76.1 percent across 1,497 reported auction results.
Interestingly, the Hobart market reported the highest clearance rate at 80 percent, however with such a small number of auctions (five reported results), the statistics can be more volatile.
Next week is likely to mark the peak in auction activity as the market moves into the festive period, when we can expect housing market activity to quieten.
<a href="/images/2016/12/01/Number%20of%20homes%20for%20sale.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/01/Number%20of%20homes%20for%20sale.jpg" alt="">
Listing numbers have accelerated over the last month of spring after the first two months saw listing numbers tracking lower than last year.
Over the 28 days to November 27, there were just under 50,000 newly advertised properties added to the market nationally, which is 2.7 percent higher than a year ago.
Across the capital city markets, 30,832 fresh property listings were added to the market which was 1 percent higher than a year ago.
With new listing numbers rising, total stock levels have also pushed higher, but remain 2.1 percent lower than a year ago nationally.
Across the capital cities, total advertised stock levels are now 2.4 percent higher than a year ago.
However the hottest housing markets (Sydney, Melbourne, Hobart and Canberra) are still showing stock levels to be lower than last year.
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National clearance rates remain steady despite high volume: CoreLogic

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Reservoir with 22 auctions leads Melbourne's second biggest auction Saturday in 2016.
It is closely followed by St Kilda 21, East Malvern 19, Craigieburn 18, Glen Iris and Mount Waverley each with 17, according to Domain.
The Reservoir listings include <a href="https://www.realestate.com.au/property-house-vic-reservoir-123948898" target="_blank">a $650,000 to $700,000 listing </a>(above) on Powell Street which last sold in 1985 for $57,500.
The Melbourne home auction market will host its biggest spring Saturday with nearly 1350 homes set to go under the hammer this Saturday.
It is well below last year’s record Saturday offering of 1622 over the same weekend but significantly higher than the 1061 auctioned last weekend. 
Melbourne’s western suburbs will lead the regions for auction activity this Saturday with 213 homes listed to go under the hammer.
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Reservoir leads the Super Saturday spring auction listing spree

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Some 1,143 auctions are scheduled in Sydney for the weekend of 26 November according to CoreLogic with auction volumes set to be lower than a year ago.
Across the smaller cities, auction activity is set to fall in each city except for Adelaide where auction activity is set to remain steady.
Capital city auctions this week:
<ul>
<li>Sydney: 1,143</li>
<li>Melbourne: 1,508</li>
<li>Brisbane: 182</li>
<li>Adelaide: 135</li>
<li>Perth: 59</li>
<li>Canberra: 96</li>
</ul>
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Over 1,100 auctions scheduled for Sydney: CoreLogic

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Listings in Melbourne are similar to last week but with a late spring market surge expected before the end of the year according to Domain Group’s chief economist Andrew Wilson.
He said in Sydney, Blacktown is the most popular suburb for listings this weekend, with similar auction levels expected this week compared to last.
"The Melbourne market is set to host its biggest spring weekend for auctions next week and the second biggest day of the year when nearly 1400 homes are likely to go under the hammer," he said.
"The inner south will again provide the most auctions this weekend in Melbourne with 183, closely followed also again by the west with 169, the outer east 144, the north-east 131, the inner city 128, the inner-east 116, the north 98 and the south-east 59.
<div>
<div class="infogram-embed" data-id="_/u5MBgODFMacs7muxoCS8" data-title="Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Melbourne scheduled auctions queen's birthday" data-type="interactive">"Glen Waverley is Melbourne’s most popular auction suburb this weekend with 22, followed by Reservoir with 17, Craigieburn and Hawthorn each with 14, East Malvern and Coburg each with 13 and Brighton with 12 auctions scheduled on Saturday.</div>
</div>
"Nearly 1100 homes are again scheduled to go under the hammer this Saturday, which will be comparable to the 1106 auctioned last weekend but again well below the 1235 auctioned over the same weekend last year. 
"In Sydney, more than 750 homes will go under the hammer, similar to the 760 auctioned last weekend. Although auction activity is typically rising through the late-spring market, numbers remain below last year’s offerings but the gap is narrowing. Last year in the same weekend, 863 auctions were listed and next weekend Sydney is set for its biggest spring day of the year with more than 900 auctions scheduled.
"The city and east will host the highest number of auctions of all the Sydney suburban regions this weekend with 105, followed by the inner west with 101, the south 99, the upper north 93, the lower north 71, the west 59, the northern beaches 55, the south-west 54, the north-west 43, Canterbury-Bankstown 31, the central coast 28 and the Blue Mountains with one auction scheduled for Saturday.
"Blacktown is the most popular auction suburb in Sydney this weekend with 10 followed by Mosman, Lane Cove and Carlingford each with nine and several suburbs with eight auctions listed including Epping, Castle Hill, Maroubra, Beecroft and Paddington."
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Same same for Melbourne, Sydney weekend auction markets

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Last week’s combined capital city auction clearance rate was recorded at 75.8%, up from 73.6% the previous week, according to CoreLogic’s latest weekly report.
Last week, Melbourne’s auction clearance rate rose from 76.1% to 76.8% while auction volumes increased from 927 to 1,329.
Sydney’s auction clearance rate also rose last week from 78.8% to 81.4%.
<a href="/images/2016/11/17/Capital%20city%20auction%20clearance%20rates.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/17/Capital%20city%20auction%20clearance%20rates.jpg" alt="">
The number of auctions was virtually unchanged with 1,089 last week compared to 1,087 the previous week.
The auction markets is the two largest cities have maintained strength throughout pring this year. So far during spring, Melbourne’s clearance rate has averaged 78.8% and Sydney’s 80.9%.
In 2015, the average spring clearance rates were 70.7% and 65.1% respectively. The current market is also stronger than in 2014 when the spring average clearance rates were 70.3% in Melbourne and 74.4% in Sydney.
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Auction clearance rate increases to 75%: CoreLogic

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There are slightly fewer auctions scheduled to take place across the combined capital cities this week, with 2,721 currently being tracked according to CoreLogic’s latest weekly report.
The property advisory firm says that in both Sydney and Melbourne, the two major auction markets, auction activity is down week on week, with 1,201 Melbourne auctions scheduled and 959 homes set to be taken to auction across Sydney.
Auction activity is set to be substantially lower than it was over the same week last year.
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.
<a href="/images/2016/11/17/Weekly%20clearance%20rate.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/17/Weekly%20clearance%20rate.jpg" alt="">
Capital city auctions this week:
• Sydney: 959
• Melbourne: 1201
• Brisbane: 237
• Adelaide: 133
• Perth: 68
• Canberra: 113
Mount Waverley in Melbourne is the busiest individual suburb for auctions across the nation this week, with 23 residential homes set to go under the hammer.
Reservoir (18) and each of Coburg, Craigieburn, Hawthorn and Malvern East have 15 auctions scheduled this week.
<a href="/images/2016/11/17/Capital%20city%20auction.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/17/Capital%20city%20auction.jpg" alt="">
The combined capital city auction clearance increased last week to 75.8% from 73.6% the previous week.
The clearance rate rose on a higher number of auctions, with 2,897 auctions last week compared to 2,517 auctions the previous week.
Melbourne’s auction clearance rate increased slightly last week to 76.8% from 76.1% the previous week.
In Sydney, clearance rates also increased to 81.4% last week from 78.8% the previous week.
Each week lately fewer sub-regions in Sydney and Melbourne have been recording fewer overall clearance rates above 90%.
Across the smaller auction markets, auction clearance rates increased in each city relative to the previous week.
The Hunter region was the busiest non-capital city region last week, with 59 auctions, however Geelong recorded the strongest clearance rate at 71.9%.
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Auction activity set to cool in Sydney and Melbourne: CoreLogic

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Nearly 1100 homes are slated for auction across Melbourne this weekend, well below the 1339 auctioned over the same weekend last year.
Around 950 auctions are slated for this weekend in Sydney according to CoreLogic, with Mosman the busiest suburb for auctions.
Domain chief economist Andrew Wilson said auction numbers are still rising in Melbourne’s late spring market providing more choice for buyers who continue to secure property at the highest rate in years for this time of the year.
"The inner south will provide the most auctions this weekend in Melbourne with 175 closely followed by the west with 172, the north east 158, the inner east 133, the inner city 124, the outer east 107, the north 104 and the south east 82," he said.
"Reservoir is once again Melbourne’s most popular auction suburb this weekend with 22 followed by Glen Iris and East Bentleigh with 17 each, Brighton 15, Elwood 14 and a number of suburbs with 13 auctions scheduled including Cheltenham, South Yarra and Kew.
"Despite a surge in listings, Melbourne recorded another healthy result for sellers with a clearance rate of 79 percent. This was higher than the previous weekends 78.3 percent and well ahead of the 69.7 percent reported over the same weekend last year.
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Auction numbers still rising in Melbourne

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The REIV is expecting about 1,210 auctions across 338 Melbourne suburbs this weekend.
The top auction locations are set to Reservoir (23 auctions), followed by Glen Iris and Bentleigh East with 17 auctions in each.
Last weekend: 831 auctions (exc. 22 postponed and 18 withdrawn)
This weekend: 1,210 auctions
This weekend last year: 69 percent from 1,453 auctions
Kings Park in Melbourne’s west has the best auction growth in Melbourne this year.
The suburb has tripled its auction levels in 2016, in comparison to 2015, and has the highest clearance rate in the City of Brimbank with 92 percent.
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