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.

[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."

[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 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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Weekend auction clearance rates remained strong, sitting about 70 percent in both Sydney and Melbourne, underpinned by the past week's policy announcements.
The RBA board lowered the cost of borrowing - with most lending institutions passing it onto home buyers - and the Federal Budget put property investment firmly on the agenda as a byproduct to its mooted superannuation changes. 
Home loan rates are as low as 3.88 per cent for owner-occupiers and 4.04 percent for investors compared with a long-term average of about 7 percent.
Not that the money is free flowing as with stricter loan-to-value ratios (LVRs) being applied by lenders, the capacity of both local and offshore buyers for houses and apartments is being curtailed.
Dr Andrew Wilson, chief economist for Domain Group, says Sydney price growth this year was likely to be around three and four per cent and Melbourne slightly higher at between four and five per cent.
Toorak ought have secured the weekend's top two sales but the interest was not there, with the Chinese influence now just an undercurrent.
There were no bidders when <a href="https://www.realestate.com.au/property-house-vic-toorak-122376458" target="_blank">23 Montalto Avenue, Toorak was offered</a>. The vendor bid was $7.75 million for the Rodney Alsop designed family residence on 1146 sqm with pool and courtyard designed by gardening guru Edna Walling.
Another Toorak offering at 10 Cole Court was passed in on a $6.75 million vendor bid through RT Edgar after rejecting the only buyer bid of $5 million.
The home was converted in the 1950s by Sir Roy Grounds out of stables for the now razed Southdean estate.
It was offered by the Cecil family, the fourth generation owners of menswear retailer Henry Bucks.
Melbourne buyers agent Mal James said the market was missing the Chinese buying interest at prior levels.
He advised that any claims by agents that “we’ve got loads of Chinese interest from overseas” was now "drivel."
"It's not there like it was in most cases," he said.
So the top weekend sale price was instead $4.55 million at Henley in Sydney on the riverfront when <a href="https://www.realestate.com.au/property-house-nsw-henley-122395590" target="_blank">6 Sherwin Street</a> (above) sold through Ray White who suggested it needed renovation.
It narrowly exceeded the $4.5 million sale of <a href="https://www.realestate.com.au/property-house-sa-hackham+west-122429454" target="_blank">389 Barkly Street, Elwood</a>. There were five bidders for the investment opportunity of a block of four, three bedroom apartments.
The cheapest result was $250,000 in Adelaide, at just above the $239,000 price guidance.
It was a deceased estate on Beach Road which had been a recent $300 a week four bedroom rental with mechanic's garaging.
There was a $277,500 sale in <a href="https://www.realestate.com.au/property-unit-vic-tullamarine-122299634" target="_blank">Melbourne's Tullamarine</a>, but with little price growth over the five years since sold at $275,000.
It too sold at just above its $250,000 to $275,000 price range.
The single storey one bedroom 1980s villa with courtyard is rented at $265 a week, which also reflected little if any rental price growth over the five year ownership.
This week there were 1,135 auctions in Melbourne, which accounted for 52 percent of all capital city auctions.
CoreLogic RP Data advised the 71 percent Melbourne clearance rate compared to 73 percent last week and 79 per cent one year ago.
Sunshine cracked the $1 million club after a period-style family home sold under the hammer for a record-breaking $1.03 million.
It was the four-bedroom house at 1 Walter St, located on 810 sqm in the coveted Matthews Hill precinct that bettered the $935,000 record set in February this year.
<img src="/images/2016/05/09/main-2.jpg" alt="" width="675" height="506">
In Carlton the former AFL coach Denis Pagan's longtime family home sold with approval for <a href="https://www.realestate.com.au/property-house-vic-sunshine-122361326" target="_blank">three townhouses at $1.8 million</a>.
 
<a id="LPlnk683209" href="https://www.realestate.com.au/property-house-vic-carlton-122301798" target="_blank"></a><img src="/images/2016/05/09/main-3.jpg" alt="" width="568" height="426"> 
Co-owned with brother Larry, it had been mostly empty for the past decade.
Melbourne’s inner East was the softest clearance rate at 63 percent across 135 results collected.
By contrast Sydney's east was super strong. Sydney hosted 647 auctions this week with a preliminary clearance rate of 72 percent, sitting as the strongest of any capital city with three Sydney sub-regions recording success rates in the 80 percent range, including its Eastern suburbs at 89 percent.
Anyone doubting the strength can't view the latest celebrity listing as it sold withn six days of offering and weeks before its scheduled auction.
 
<img src="/images/2016/05/09/main-4.jpg" alt="" width="632" height="474">
It was a Bondi semi that performed poorly in The Block All Stars three years ago.
It has now been snapped up for sold for around $2.55 million, an 86 percent hike on the sale price under the television lights in 2013.
Sunnybrae at <a href="https://www.realestate.com.au/property-house-nsw-bondi-122539826" target="_blank">10 Tasman Street, Bondi</a>, had an initial price guide of $2.2 million having sold last at $1,375,000.
After two long weekends in a row, Brisbane auction volumes picked up this week, with 192 residential properties going under the hammer, with just 43 per cent selling.
Canberra had their mind on other matters with the 54 percent clearance rate down from 59 per cent last week and the 65 percent last year.
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jchancellor-FAypfDUnLy

Sydney and Melbourne still securing 70 percent plus auction clearance rates

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Preliminary results show a 52.9 percent clearance rate across 17 commercial auctions over the week ending 22 April 2016, a fall in both auction volumes (38) and the clearance rate (71.1 percent) when compared to the previous week, according to latest CoreLogic RP Data.
At the same time last year, 49 commercial auctions were reported and the clearance rate was significantly higher, at 81.6 per cent. Across the commercial auction market, activity has been somewhat subdued over the past four weeks, with just 103 auctions held and 65 sales. Of the 65 sales, 48 have been reported with a sale price, totalling just more than $88.9 million.
<a href="/images/2016/04/29/Screen%20Shot%202016-04-30%20at%201.26.06%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/29/Screen%20Shot%202016-04-30%20at%201.26.06%20AM.png" alt="">
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prateek24-ezbwHMbNAk

Commercial auctions fell in week ending April 22: CoreLogic RP Data

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The nation's cheapest weekend auction result was $202,000 for a West Footscray one bedroom apartment.
The <a href="https://www.realestate.com.au/property-apartment-vic-west+footscray-122306818" target="_blank">19/132 Rupert Stree</a>t offering last sold in 1990 at $45,000.
Last listed at $190 a week rental earlier this year, the apartment had auction price guidance of $185,000 plus.
A decade ago the rent was $135 a week.
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West Footscray $202,000 the nation's cheapest weekend result

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Melbourne's auction market saw around 1260 auctions on Saturday which, Domain economist Dr Andrew Wilson noted, exceeded the previous record for any April weekend.
Melbourne reported a strong 74 percent clearance rate, the same as Sydney which hosted its second busiest Saturday so far this year.
But the dead heat between the two auction capitals was of limited interest with media attention on more horrendous matters.
In Melbourne it was the missing millions after six LJ Hooker offices were closed by Victorian Consumer Affairs given trust account irregularities.
And in Sydney it was the listing of the former home of the backpacker killer, Ivan Milat.
It was the Eagle Vale home at the time of his 1994 arrest, in quiet Cinnabar St (above).
The four bedroom brick home with the dark past last sold in 2006 at $386,000.
Ivan Milat bought in 1992 with his sister Shirley Soire for $50,000, with the siblings selling it in 1995 at $160,000.
It is now priced at $685,000 to $715,000 through Century 21 Premier Reality agent Susan Parkes who told The Sunday Telegraph that prospective buyer feedback was that “it’s a lovely home."
In 1996 Milat was convicted of the murders of seven backpackers after their bodies were found in the Belangalo State Forest, near Berrima in 1992 and 1993, and is serving seven consecutive life sentences in Goulburn super-maximum security prison.
There's already talk of jail after millions in deposits are claimed to have gone missing from the trust accounts of six LJ Hooker offices in outer Melbourne. 
There have been varied counter claims of a hacking or an elaborate conspiracy, but it appears no-one is giving them much credence.
Consumer Affairs Minister Jane Garrett said those responsible would feel the full force of the law.
"This is horrendous behaviour," Ms Garrett told reporters on Saturday.
"We changed the locks on these offices as soon as we found out irregularities had occurred."
Some 20 homeowners, along with 80 rental tenants, are caught up in the matter after irregularities were found in a LJ Hooker franchise in Glen Waverley and its associated branches in Keysborough, Mount Waverley, Burwood, Doncaster and Box Hill.
The branches are operated by husband-and-wife, Joseph Ngo and Judy Thanh Truc (also known as Judy Nguyen), who were named LJ Hooker’s Best Team of the Year in 2015.
“Houses around Melbourne, and certainly in these areas, are very expensive,” Ms Garrett said.
Ms Garrett said anyone found to have misused trust money could face very significant charges and jail time.
“We take an absolute zero-tolerance approach to this,” she said.
“This is other people’s money. Like lawyers you hold it on trust … [if you] abuse that trust, you’ll feel the full force of the law.”
CoreLogic RP Data reported Melbourne was host to 1,272 auctions, making it the busiest of any of the capital city markets for auctions by a long run.
The preliminary clearance rate for the city was 74 per cent this week.
There were around 800 Sydney auctions.
Preliminary results for Brisbane show a 49 per cent clearance rate.
The number of Adelaide auctions rose to 129 this week, with agents securing a 64 per cent success.
Perth's clearance rate was 46 per cent. Canberra’s clearance rate fell from 73 per cent last week to 67 per cent. 
The national result sits at 71 per cent, up marginally from a final auction clearance rate of 69 per cent last week, but lower when compared to one year ago at 78 per cent.
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Melbourne weekend auctions break April records

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The weekend's top sale was pre-auction in Sydney's Gladesville  for 65 Wharf Road, a six bedroom riverfront (above).
It sold for at<a href="https://www.realestate.com.au/property-house-nsw-gladesville-122231894" target="_blank"> $7,095,000</a> through McGrath agent John Paranchi.
Melbourne's highest was when 16 Barnsbury Road, Balwyn (below) sold for $6.36 million, a five bedroom house on 1760 sqm with tennis court.
<img src="/images/2016/05/02/image2.jpg" alt="" width="653" height="490">
A Chinese buyer on a significant investor visa secured the Balwyn home.
There was a $4.29 million Brighton strata sale at 2/21 Birdwood Avenue (below), with a three bedroom, three bathroom Edgard Pirotta-designed beachfront townhouse.
<img src="/images/2016/05/02/main-1.jpg" alt="" width="641" height="481">
It last sold in 1999 at $1.54 million.
Melbourne held 1,272 auctions this week with a preliminary clearance rate of 74 percent this week. 
Some 803 Sydney auctions were held, up from 643 last week and lower than last year when 914 were held. Sydney’s clearance rate fell over the week to 74 per cent, from 77.4 per cent last week.
Preliminary results for Brisbane show a 49.5 per cent clearance rate, up from 37.6 per cent last week, which was the weakest result so far this year. 
<a href="/images/2016/05/Screen%20Shot%202016-05-02%20at%2012.04.19%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/Screen%20Shot%202016-05-02%20at%2012.04.19%20PM.png" alt="">
 
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Gladesville secures weekend top sale with Balwyn next priciest, then Brighton

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Melbourne's auction market sees around 1260 auctions on Saturday, which Domain economist Dr Andrew Wilson says will likely exceed the previous record for an April day of 1247 set on the pre-Easter Super Saturday earlier this month.
The inner south will host the highest number of regional auctions this weekend with 206 followed by the west 196.
Bentleigh East is the busiest suburb for auctions this weekend with 28 followed by a number of suburbs with 18 auctions scheduled including Reservoir, Craigieburn, St Kilda, East Malvern and Brighton. 
Melbourne reported a clearance rate of 74 per cent last Saturday which was just under the 76 per cent recorded the previous weekend but well below last year’s peak rate of 86 per cent result recorded over the same holiday weekend.
Domain indicate Sydney will host its second highest Saturday of auctions this year, which will fully test the local market that bounced back last weekend.
Almost 700 homes will go under the hammer this weekend, well ahead of last weekend’s Anzac Day total of 426 and similar to the 697 auctioned over the same weekend last year.
Sydney’s inner west is set to host the most number of auctions with 109, followed by the city and east with 93.
Mosman is the most popular suburb for auctions in Sydney on Saturday with 13, the next highest is Surry Hills at 10, followed by Blacktown with nine.
Sydney reported a clearance rate of 71 percent last Saturday, higher than the year-low 67 percent recorded the previous weekend.
Sydney’s average weekend auction clearance rate since Easter of 70 percent remains well below this year’s pre-Easter average of 75 percent.
<a href="/images/2016/05/Screen%20Shot%202016-05-02%20at%2012.04.19%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/Screen%20Shot%202016-05-02%20at%2012.04.19%20PM.png" alt="">
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Record Melbourne April auctions this weekend, with Sydney busy too

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This week will be the busiest for capital city auction markets since the week prior to Easter, with 2,419 auctions currently being monitored by CoreLogic.
 Compared to last week, auction volumes are higher in each individual capital city market and have almost doubled in Melbourne, up from 602 last week to the current scheduled number of 1,233. 
This week is set to be the busiest for auctions in six weeks for Adelaide, Canberra and Perth, while the number of homes being taken to auction across Brisbane remains relatively steady. Sydney, the nation’s second busiest auction market has 763 auctions scheduled this week. 
 Capital City Auctions this week: 
• Sydney: 763 
• Melbourne: 1,233 
• Brisbane: 141 
• Adelaide: 129 
• Perth: 44 
• Canberra: 101  
The busiest individual suburb for auctions this week is Bentleigh East in Melbourne, with 28 auctions to be held. The second busiest suburb is St Kilda (21), followed by Craigieburn, Malvern East and Reservoir, each with 18 auctions. All five suburbs are located in Melbourne. 
<a href="/images/2016/04/28/Screen%20Shot%202016-04-28%20at%2012.58.31%20PM.png" target="_blank"> Click to enlarge</a>
<img src="/images/2016/04/28/Screen%20Shot%202016-04-28%20at%2012.58.31%20PM.png" alt="">
 Summary of last week’s results
While auction volumes fell slightly last week with 1,565 capital city auctions held, the final auction clearance rate rose slightly, from 67.4 per cent the previous week to 69.7 per cent last week. Sydney was the best performing capital city auction market last week, with both the highest volume of auctions (643) and the strongest clearance rate, at 77.4 per cent, having risen substantially from 69.8 per cent the previous week when auction volumes were lower. Of the 15 individual sub-regions of Sydney, five regions recorded a clearance rate in excess of 80 per cent this week.
In Melbourne, 602 auctions took place and the clearance rate remained steady, at 71.5 per cent over the week. Unlike Sydney, no Melbourne sub-regions recorded a clearance rate above 80 per cent. Across the non-capital city auction markets monitored by CoreLogic, the Hunter region was the strongest performer, with 73.9 per cent of reported auctions successful, up substantially from 44.4 per cent the previous week. Clearance rates improved in each individual regional auction market on a week-on-week basis, with the exclusion of the Gold Coast, where the clearance rate fell from 45.5 per cent the previous week to 40 per cent last week.
 
 
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Busiest auction week since before Easter: CoreLogic RP Data's Shana Miller

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Victoria had a clearance rate of 77 percent for the weekend ending April 24 down from 73 percent last weekend and 82 percent this weekend last year.
There were 472 auctions reported to the REIV, with 365 selling and 107 being passed in, 58 of those on a vendor bid. 
<a href="/images/2016/04/26/Screen%20Shot%202016-04-26%20at%209.59.05%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/26/Screen%20Shot%202016-04-26%20at%209.59.05%20AM.png" alt="">
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Victoria's combined clearance rate at 77 percent: REIV

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Some 70 percent of combined capital city auctions were successful for the week ending 24 April according to CoreLogic RP Data, who reported Sydney with a preliminary clearance rate of 78.4 percent.
Preliminary results show nationally the strongest clearance rate for the past month, although down from the 82.3 percent recorded this time last year. 
Click to enlarge
<img src="/images/2016/04/26/Screen%20Shot%202016-04-26%20at%209.54.21%20AM.png" alt="">
Melbourne has a preliminary clearance rate of 71 percent with the inner sub-region of Melbourne a 70.3 percent clearance rate from 91 results. 
Sydney’s preliminary clearance rate rate rose from last week's 69.8 percent to 78.4 percent this week, with the Eastern Suburbs being the most successful region for auctions with a clearance rate of 91.4 percent. 
Brisbane clearance rates fell to 40.9 percent, from 47 percent last week with the Gold Coasta preliminary clearance rate of 41.4 percent. 
Adelaide’sclearance rate fell to 59.7 percent this week, Perth a clearance rate of 30.4 percent and Canberra at 69.4 percent, the strongest in six weeks.
<a href="/images/2016/04/26/Screen%20Shot%202016-04-26%20at%209.57.12%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/26/Screen%20Shot%202016-04-26%20at%209.57.12%20AM.png" alt="">
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Sydney leads capital city clearance rates: CoreLogic RP Data

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Given the ANZAC day long weekend, auction volumes are expected to dip this week, with 1,372 scheduled, down from almost 1,700 last week.
The amount of auction activity in Melbourne and Sydney this week is virtually the same, with 535 Sydney auctions scheduled and 546 in Melbourne.
On a week-on-week basis, auction activity will be quieter in all cities with the exclusion of Sydney, where volumes are 12 per cent higher and Canberra, where the number of auctions scheduled to take place this week is 6 per cent higher than the previous week.
Capital City Auctions this week:
<ul>
<li>Sydney: 535</li>
<li>Melbourne: 546</li>
<li>Brisbane: 114</li>
<li>Adelaide: 92</li>
<li>Perth: 27</li>
<li>Canberra: 52</li>
</ul>
The two busiest individual suburbs for auctions this week are Mount Waverley (14) and Craigieburn (12), both located in Melbourne. The third busiest suburb, Reservoir, also in Melbourne, was last week’s busiest suburb with 18 auctions, while this week just 11 will be held.
Summary of last week’s results:
<a href="/images/2016/04/21/20160421-cc-table.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/21/20160421-cc-table.png" alt="">
The capital city clearance rate remained stable last week, at 67.4 per cent, up just slightly from 67.1 per cent the previous week. The week-on-week results were also relatively flat across each of the individual capital cities, with only Canberra (up to 68.9 per cent from 61.9 per cent the previous week) and Perth (down to 23.1 per cent from 33.3 per cent the previous week), where clearance rates often move around substantially, seeing any significant changes.
<a href="/images/2016/04/21/20160421-cc-graph.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/21/20160421-cc-graph.png" alt="">
Last week, Melbourne was the strongest performing capital city auction market, with 71.5 per cent of auctions clearing, followed by Sydney, where 69.8 per cent of auctions were successful. Across Melbourne’s Outer East the clearance rate was the strongest (82.1 per cent), and Sydney’s Eastern Suburbs (86.5 per cent) and Sutherland (86.4 per cent) were the stand out performers last week. In fact, so far this year, the Eastern Suburbs clearance rate has only dipped below 79 per cent once.
Outside of the capital cities, auction markets were somewhat lacklustre this week with vendors more likely to not sell at auction than to sell at auction.
<a href="/images/2016/04/21/20160421-sub-region-table.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/21/20160421-sub-region-table.png" alt="">
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