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

<html><body>
GUEST OBSERVER
This week 1,667 capital city auctions were held, less than last week (1,831)  and also less than one year ago (2,603).
Auction volumes were substantially higher last year as there were only two weeks between the Easter long weekend and the ANZAC day weekend. Preliminary results show that 68.6 per cent of auctions were successful this week, marking the third consecutive week of auction clearance rates below the 70 per cent mark. This week’s result is higher than last week (67.1 percent), but much lower than one year ago when 78.9 percent of the capital city auctions held were successful.
<a href="/images/2016/04/19/20160418-capital-city.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/19/20160418-capital-city.jpg" alt="">
Across Australia’s largest auction market of Melbourne 882 residential homes were taken under the hammer this week, with a preliminary clearance rate of 71.7 per cent, falling from 73.2 per cent last week (the strongest result since February) and lower than one year ago (79.5 per cent). While the clearance rate fell, auction volumes rose from 803 last week. The most auction activity for the city was held in the Inner region where 170 homes went to auction and 73.5 per cent of reported auctions were successful.
<a href="/images/2016/04/19/20160418-melbourne.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/19/20160418-melbourne.jpg" alt="">
Sydney has recorded a preliminary clearance rate of 69.7 percent this week across 457 auctions, compared to a low of 67.1 percent last week and a substantial difference from 87.0 percent one year ago, which happened to be the 11th consecutive week for the city of clearance rates over 80 percent, and the city’s clearance rate remained above 80 percent until mid-July. This week’s top performing Sydney sub-region was the Eastern Suburbs with a clearance rate of 87.0 percent, followed by Sutherland (84.2 percent) and North Sydney and Hornsby (80.4 percent).
<a href="/images/2016/04/19/20160418-sydney.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/19/20160418-sydney.jpg" alt="">
The preliminary clearance rate across Brisbane was 53.5 per cent this week, up from 47.7 per cent and also higher than the 46.4 per cent last year. This week 145 Brisbane auctions were held, compared to 160 last week and 140 one year ago. With the two upcoming public holidays, it is expected that Brisbane’s auction market will be relatively quiet over the next two weeks. This week 47 Gold Coast auctions have been reported with 21 sales.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2016/04/20160418-brisbane.jpg" rel="attachment wp-att-6654"><img class="aligncenter size-full wp-image-6654" src="https://blog.corelogic.com.au/wp-content/uploads/2016/04/20160418-brisbane.jpg" alt="20160418 brisbane" width="971" height="653"></a>
Adelaide saw 99 auctions take place this week and based on the 75 results so far, the preliminary clearance rate was 66.7 per cent. Last week Adelaide’s clearance rate was 63.6 per cent, while one year ago it was higher, at 69.7 per cent.
The number of Perth auctions held this week was 30, down from 36 both last week and one year ago. Preliminary results show 28.6 per cent of Perth auctions cleared this week.
Preliminary results for Canberra show the clearance rate for this week sitting at 71.9 per cent, up from 61.9 per cent last week when 68 homes were taken to auction.
There were 9 Tasmanian auctions this week with 5 reported results and 4 sold.
</body></html>

smiller-vwPjRHTkST

Capital city clearance rate below 70 percent for three weeks running: CoreLogic RP Data's Shana Miller

<html><body>
An historic coach house built in the 1880s in Brisbane is now under contract having been auction earlier this month.
The dilapidated Teneriffe house at <a href="https://www.realestate.com.au/property-house-qld-teneriffe-122072822" target="_blank">17 Teneriffe Drive</a> was the coach couse of Teneriffe House.
Of recent times Arthur Henricks and May Hickling who married in 1915 had ten children, with Merle residing up until this year.  In 1854, James Gibbon, former MLA and property speculator, known locally as 'Street Corner Jimmy' because he bought corner blocks, bought a parcel of land between Newstead and New Farm and named it Teneriffe, after Teneriffe Peak in the Canary Islands. Gibbon was living at Kingsholme in New Farm before commissioning the construction of Teneriffe House in 1865, on what became known as Teneriffe Hill.
The magnificent house cost 1715 pounds to build, and was constructed of rendered brick on a stone foundation.
The house changed hands several times in its history and was converted to flats in the late 1960s.
</body></html>

jchancellor-FAypfDUnLy

1880s Teneriffe coach house under contract

<html><body>
Sydney's auction clearance rate stayed below 70 percent yesterday, but the battered McGrath Estate Agency bucked the weekend trend.
There was an overall 69 percent sales rate, though McGrath, whose shares were suspended from trading on Friday, secured a 75 percent success rate. 
Sales across Sydney ranged from $340,000 for a one bedroom Surry Hills unit to a pre-auction $5.775 million five bedroom Woollahra house.
CoreLogic RP Data had 330 scheduled auctions given reduced school holiday activity.
The McGrath agency secured secured sales ranging between $395,000 at Tumbi Umbi to $3.57 million at Coogee, a contemporary five bedroom home which had been tipped to fetch $3.5 million.
The real estate company asked to go into a trading halt until Tuesday as its reviews its earnings forecast from when it was listed on the ASX share market last December.
Floated at $2.10 a share, it last traded at $1.30 a share. 
McGrath, founded in Paddington by John McGrath in 1988, has a network of more than 70 offices.
The suspension came before the Reserve Bank released its half-yearly snapshot of the financial system which warned the growth in big city apartment developments was a key risk to Australia's financial system.
Sydney's declining established home sales activity and the declining auction clearance rate have not helped the McGrath share price.
Sydney's clearance rate last April was well above 80 percent.
CoreLogic figures have put the Sydney clearance rate at below 70 percent for the past five weeks after a strong February start.
Strathfield was Sydney's busiest auction suburb yesterday with the preliminary results showing four of the five offerings finding buyers, with two sales through McGrath.
</body></html>

McGrath secures auction success

<html><body>
Perth sellers looking for a quick sale for their property should look to auctions, with new data from reiwa.com revealing that auctions in the metropolitan region sell faster. 
Although the percentage of Perth vendors choosing auctions was still small, this method was gaining popularity because of the visibility of auctions on mainstream television, said REIWA president Hayden Groves.
“Auctions are becoming more familiar to West Australians, and Perth sellers are increasingly more open to this selling method. While private treaty remains the most common way to sell a property in Perth, auctions did hit a 15-year high in December 2015, with 3.1 per cent of all sales in the metropolitan region happening under the hammer," she said. 
“This figure did dip in January due to seasonality, but recovered quickly and was back up to 2.9 percent in March.”
Reiwa.com’s analysis found that sellers who go to auction are more likely to sell faster than those selling via private treaty. 
The average selling days for auctions fell steadily in each quarter last year and now takes 26 days less to sell by auction than private treaty,” Groves said. 
REIWA is a member-owned organisation representing over 1,100 agencies and more than 90 percent of operating real estate agents in Western Australia. 
</body></html>

prateek24-ezbwHMbNAk

Auctions achieve faster results for Perth sellers: REIWA 

<html><body>
Melbourne's school holidays saw the absence of the typical prestige offerings with the top sale being $2.75 million in Aberfeldie (above).
It sold two years ago in spring 2014 at $2.32 million, so reflected 11 percent price growth for the 2006-built Victorian-era style four bedroom home with study.
Melbourne was the busiest capital city auction market this week, after Sydney was the busiest for the past two weeks.
The 794 Melbourne auctions secured a clearance rate of 73 percent, according to CoreLogic RP Data.
Inner Melbourne, with 171 auctions and North East Melbourne with 110 auctions held were the busiest sub-regions of the city this week, with clearance rates of 72 percent and 76 percent, respectively.
South East and Inner East Melbourne were the only two regions where clearance rates fell below the 70 percent mark this week.
The preliminary auction clearance rate in Sydney stayed below 70 percent again this weekend at 67 percent, down from 69 percent last week.
All much lower than one year ago when it was a redhot 83 percent. 
Sydney’s sub-regions again showed a significant amount of variation in results across the city.
Clearances rates were as high as 87 percent in Inner West and as low as 41 percent in South West.
The cheapest Sydney offering was an over 55s villa in Cronulla.   Sydney auctioneer Rocky Bartolotto noted that not only were volumes down by 25 percent, but the average registered bidder numbers were just under 4 per property, compared to April 2015 which was averaging seven.   Brisbane’s preliminary clearance rate was 56 percent this week, up on the 52 percent last week and 54 percent one year ago.
Brisbane had the weekend's cheapest sale at $237,000 at <a href="https://www.realestate.com.au/property-house-qld-waterford+west-122100694%20%20" target="_blank">Waterford West</a> for a three bedroom home (below) which, according to CoreLogic RP Data, last sold at $235,000 in 2006.
<img src="/images/2016/04/11/main-3.jpg" alt="" width="667" height="500">
Adelaide’s clearance rate was 63.6 percent this week, with Perth auctions at 25 percent last week.
Across Canberra 69 auctions were held this week with a 64 percent sales success including the $1,515,000 sale of the former bolthole of the former Federal Treasurer Joe Hockey.
The three-bedroom property in the prestigious suburb of Forrest sold soon after being passed in on a $1.5 million vendor bid at its 25 Furneaux Street onsite auction.   The national 67 percent success rate, was up from the 66 percent last week, but remaining lower than one year ago 77 percent.
The March 2016 quarter combined capital city clearance rate was 69 percent, lower than the 75 percent in the March 2015 quarter. 
</body></html>

Aberfeldie tops Melbourne weekend results

<html><body>
<div>
The home auction market is picking up after the slight pause for Easter holidays, with 1,677 capital city homes scheduled to go under the hammer this week, according to CoreLogic RP Data.
While Sydney had more auctions than Melbourne over the past two weeks, this week, Melbourne’s auction activity is set to rise, bringing the total number of residential auctions to 730, as opposed to the 624 scheduled for Sydney.
Auction volumes remain relatively steady across the remaining capital cities.
<img src="/images/2016/04/8/Screen%20Shot%202016-04-08%20at%2010.03.30%20AM.png" alt="" width="314" height="196">
Melbourne's 730 auction figure will be well ahead of last weekend’s 482 listings and higher than the 562 auctioned over the same weekend last year, wrote Domain Group’s chief economist Dr Andrew Wilson in his blog. 
Although auction activity is on the rise, overall autumn listings will likely remain below the levels recorded last year over the same period. Falling interest rates a year ago were a catalyst for a surge in housing market activity in Melbourne. 
The west will again clearly host the highest number of auctions this weekend with 126.  The north-east is next highest with 111 followed by the outer east (91), the inner south  (88), the inner city (82), the north (77), the inner east (54) and the south-east with 53 auctions.
Mount Waverley has the highest number of auctions listed this weekend, with 16, followed by Preston with 14, Reservoir and East Bentleigh, each with 13, Pascoe Vale with 10 and a number of suburbs with nine auctions scheduled including Glen Waverley, Essendon, Noble Park and Hawthorn.
The robust Melbourne home auction market resumed last weekend without missing a beat following the Easter holiday break.
Melbourne recorded a clearance rate of 73.8 per cent, which was just below the 74.1 per cent recorded on the pre-Easter weekend a fortnight ago and also below the boom-time 77.5 per cent recorded over the same post-Easter weekend last year.
Last Saturday’s result was just below the average weekend rate of 75.4 per cent recorded over the previous nine Saturdays, with a high of 79.2 per cent and a low of 73.4 per cent reported over that period.
Low interest rates continue to fuel buyer activity in both Melbourne and Sydney's housing markets, said Dr Wilson. This week the Reserve Bank predictably decided to leave official rates on hold over April at the record low two per cent for the 11th consecutive month. 
A near-term cut in rates, however, remains on the cards with continuing mixed reports on the health of the national economy. The latest Australian Bureau of Statistics data indicates that the recent home building boom has peaked, the trend for retail sales growth is declining, house prices are flat or falling, inflation remains low in an increasingly lifeless economy and the Australian dollar continues to track well above the preferred levels of policymakers.
Sydney auction numbers are down this weekend with the local market straining to regain momentum after the Easter holidays.
This Saturday, just 509 homes are scheduled to go under the hammer. This is below the 539 listed last weekend and also well below the 535 homes auctioned over the same weekend last year, he said.
Sydney auction levels this autumn remain far below those recorded over the same period last year. Falling interest rates a year ago were a catalyst for an unprecedented surge in housing market activity in Sydney, but so far in 2016 they have remained on hold. 
Sydney’s inner west has the highest number of auctions listed this weekend, with 82, followed by the upper north shore (78), the south (74), the city and east (58), the lower north (56), the south-west (34), the west (31), Canterbury Bankstown (28), the northern beaches (27), the north-west (19) and the central coast (17). The Blue Mountains have no auctions scheduled. 
Mosman, with nine auctions, will be the busiest this weekend followed by Ryde, Randwick, Carlingford, Killara and Marrickville, each with seven, and Blacktown with six. There are also several suburbs with five auctions scheduled on Saturday, including Epping, St Ives, Lane Cove North, Strathfield and Bexley.
The Sydney weekend home auction market returned from the Easter holidays in the same robust form it has consistently produced so far this year, notes Dr Wilson.
Sydney reported a clearance rate of 73.7 per cent last weekend, just below the 74.1 per cent recorded on the pre-Easter weekend the fortnight previous and also below the boom-time 86.8 per cent recorded over the same post-Easter weekend last year.
Last Saturday’s result was just below the average weekend rate of 74.5 per cent recorded over the previous nine Saturdays, with a high of 76.9 per cent and a low of 71 per cent reported over that period.
Over the week ending April 3 there were 1,582 capital city auctions with CoreLogic collecting results for 1,434 auctions, accounting for almost 91% of all auctions.
The final clearance rate was recorded at 66.6% which is down from the previous week and the lowest clearance rate in three weeks. The number of auctions increased from just 554 over the previous week. Excluding Sydney and Melbourne, clearance rates rose in Brisbane, Adelaide and Hobart but fell elsewhere. Auction volumes were also higher this week across all regions except Tasmania. 
</div>
<div>
<div>
 
 
</div>
</div>
</body></html>

Melbourne sees sharp rise in auctions, but Sydney numbers down

<html><body>
The number of homes being taken to auction is continuing to increase with 1,677 capital city homes scheduled to go under the hammer this week.
While Sydney had more auctions than Melbourne over the past two weeks, this week, Melbourne’s auction activity is set to rise, bringing the total number of residential auctions to 730, as opposed to the 624 scheduled for Sydney.
This week, auction volumes are higher than last week in the two major auction markets of Melbourne and Sydney, while they remain relatively steady across the remaining capital cities.
Capital City Auctions this week:
<ul>
<li>
Sydney: 624
</li>
<li>
Melbourne: 730
</li>
<li>
Brisbane: 145
</li>
<li>
Adelaide: 70
</li>
<li>
Perth: 32
</li>
<li>
Canberra: 65
</li>
</ul>
The three busiest individual suburbs for auctions this week are all located in Melbourne, with 17 auctions scheduled to take place in Mount Waverley, 16 in Reservoir and 14 in Preston.
Summary of last week’s results:
<a href="/images/2016/04/7/20160407-cc-table.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/7/20160407-cc-table.png" alt="">
Across the combined capital cities, clearance rates softened last week from 70.9 percent for the previous week to 66.6 percent last week. Much of the fall in clearance rates was driven by Sydney, which was the busiest auction market over the week, host to 664 auctions and recorded a clearance rate of 69.8 percent, far lower than the 77.9 percent over the previous week.
In Melbourne, the auction clearance rate remained relatively steady, down to 69.2 percent from 71.4 percent the previous week.
<a href="/images/2016/04/7/20160407-graph.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/7/20160407-graph.png" alt="">
Despite the fall in Sydney’s auction clearance rate, there were some very strong sub-regions in the city. City and Inner South (91.4 percent) and Eastern Suburbs (90.5 percent) both saw clearance rates in excess of 90 percent, while in Parramatta only one third of auctions were successful.
The strongest clearance rate across Melbourne was 76.3 percent in the Inner East.
Of the other capital city auction markets, Adelaide was the best performer last week with 71.2 percent of auctions clearing, while in all other cities only around half of the properties taken to auction resulted in a sale.
<a href="/images/2016/04/7/20160407-sub-region.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/7/20160407-sub-region.png" alt="">
 
</body></html>

Melbourne auction levels outpacing Sydney: CoreLogic RP Data's Shana Miller

<html><body><div align="center">
Nine more properties in Sydney's Millers Point have been put up for sale through auction by the NSW government to fund its social housing programme.
Last week, the government auctioned off 12 properties for $32.85 million, taking the total to $182.73 million from 70 properties sold to date in Millers Point.
Proceeds from the sale will fund 1,500 new dwellings across the state, with 590 new, fit-for-purpose social housing dwellings funded to date.
Government Property NSW, on behalf of Family and Community Services, announced the move on Monday. The properties will be marketed by McGrath Estate Agents and will be auctioned on May 4.
The properties are: 
9 Lower Fort Street (left) – an eight-bedroom, four-bathroom residence within the Milton Terrace group.
13 Lower Fort Street – a six-bedroom, two bathroom dwelling, also part of Milton Terrace.
35 Lower Fort Street – a six-bedroom, three bathroom residence known as Major House.
47 Lower Fort Street – a five-bedroom, two bathroom property in a row of four Italianate-style terraces, built in the mid-1880s.
42 Argyle Place (below) – a four-bedroom, two bathroom property constructed in the late 1880s
54 Kent Street – a three-bedroom, one bathroom residence, originally owned by local shipwright, William Rowe.
60 Kent Street – a three-bedroom, one bathroom residence, originally built for Thomas Hely, son of a local shipwright.
62 Kent Street – a three-bedroom, one bathroom residence, also owned by Thomas Hely.
73 Kent Street – a four-bedroom, three bathroom property built in the mid-1870s.
Each heritage-listed property includes a Conservation Management Plan endorsed by the NSW Heritage Council in the contract for sale, which are meant to ensure new owners are fully informed of their responsibilities when purchasing a heritage property.
</div></body></html>

NSW govt to auction off nine more Millers Point properties

<html><body>
From 503 reported results in Melbourne for the week ending 3 April some 68.0 percent sold, according to CoreLogic RP Data.
The strongest Melbourne sub-region was the Inner East, with a preliminary clearance rate of 74.4 percent.
<a href="/images/2016/04/4/Screen%20Shot%202016-04-04%20at%201.25.24%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/4/Screen%20Shot%202016-04-04%20at%201.25.24%20PM.png" alt="">
</body></html>

po-LsXgBTHBmX

Melbourne's strong clearance rate in Inner East: CoreLogic RP Data

<html><body>
The amount of auction activity across the capital cities increased substantially this week, up from 554 auctions held the previous week to 1,543 held this week.
At the same time last year it was the long weekend for Easter, so auction volumes were lower, with 653 homes taken to auction across the combined capitals. This week the weighted average clearance rate across the combined capitals was 67.0 percent, slipping from 70.9 percent over the previous week when the combined capitals recorded the strongest clearance rate seen in four weeks, despite the low volumes.
<a href="/images/2016/04/4/20160404-Capital-City.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/4/20160404-Capital-City.png" alt="">
There were 567 Melbourne auctions this week, making it the second busiest capital city for auctions after Sydney. This is the second week in a row where the Sydney auction market has been busier than that of Melbourne’s, however Melbourne volumes are expected to climb leading up to the ANZAC day long weekend.   Across the 503 reported results, 68.0 per cent were successful this week, down from 71.4 per cent last week and lower than the 86.5 per cent recorded last year when just 63 Melbourne auctions were held. This week’s strongest performing Melbourne sub-region was the Inner East with 74.4 per cent of auctions cleared, based on preliminary results.
<a href="/images/2016/04/4/20160404-Melbourne.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/4/20160404-Melbourne.png" alt="">
A total of 648 homes were auctioned in Sydney this week, with preliminary results returning a clearance rate of 70.9 percent. Last week, across the 349 auctions in the city 77.9 percent of results were successful, the strongest result for the city since mid-February. In comparison, over the same week last year 427 Sydney auctions were held and the clearance rate was 84.7 percent. The busiest regions for auctions across Sydney this week were North Sydney and Hornsby (103 auctions) and Inner South West (84 auctions), while clearance rates ranged from as high as 94.1 percent in City and Inner South to as low as 28.0 percent in Parramatta.
<a href="/images/2016/04/4/20160404-Sydney.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/4/20160404-Sydney.png" alt="">
Across Brisbane, auction volumes rose from 48 last week to 140 this week, with a preliminary clearance rate of 57.0 per cent, compared to 45.0 per cent last week. The number of auctions being held across Brisbane is likely to be high over the weeks leading up to the ANZAC day long weekend, given there will be two long weekends in a row.  The Gold Coast had 78 auctions this week and so far 47 results have been reported. The preliminary clearance rate for the region was 38.3 per cent this week.
<a href="/images/2016/04/4/20160404-Brisbane.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/4/20160404-Brisbane.png" alt="">
Preliminary results show that 75.4 per cent of Adelaide auctions were successful this week, up from last week (66.7 per cent), but lower than one year ago when 83.3 per cent of the 34 auctions held were successful.
<a href="/images/2016/04/4/20160404-Adelaide.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/4/20160404-Adelaide.png" alt="">
Perth’s preliminary auction clearance rate was 37.5 percent this week. Last week, 6 results were captured across the city, with all having sold. While auction volumes were low last week, this week 37 Perth homes were taken to auction, returning to relatively normal levels for the city.
Based on preliminary results, 52.3 percent of Canberra auctions were successful this week, down from 58.3 per cent last week and lower than one year ago (71.8 percent). There were 67 auctions held in Canberra this week, 26 last week and 49 at the same time last year.
There were 9 auctions held in Tasmania this week with 5 results reported so far. Of the reported results, 2 were successful.
 
</body></html>

Auctions

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Auctions

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News