<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.

"Eight residences is exceptionally boutique, but that's precisely what this site calls for.

“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

Auctions

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So far this week, 2,127 capital city auction results have been reported to CoreLogic RP Data, resulting in a preliminary auction clearance rate of 72.1% across the combined capital cities. 
There were a total of 2,615 capital city auctions held this week. This week’s result indicates that clearance rates are no longer tracking higher than they were one year ago, when the final auction clearance rate over the week was 72.3% across 2,080 auctions. Over the previous week there were 2,297 auctions with a clearance rate of 73.2%.
<a href="/images/2015/09/14/20150914-Capital-city.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/14/20150914-Capital-city.jpg" alt="" width="840" height="635">
 
In Melbourne, Australia’s largest auction market, a preliminary auction clearance rate of 73.7% was recorded across 1,181 auctions this week. Last week, Melbourne’s final clearance rate was recorded at 75.1% across 992 auctions, while this time last year, 1,018 properties were taken to auction across Melbourne and a clearance rate of 73.4% was recorded. The busiest Melbourne sub-regions this week were Melbourne’s Inner region and the Inner South region, where 248 and 210 auctions were held respectively. Across these two sub-regions, the preliminary clearance rates were 71.2% across the Inner region and 71.8 per cent across the Inner South.
<a href="/images/2015/09/14/20150914-Melbourne.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/14/20150914-Melbourne.jpg" alt="" width="817" height="545">
 
Sydney’s preliminary auction clearance rate was 75.1% this week, the 10th week in a row where Sydney has recorded a result below 80%. Last week, Sydney’s clearance rate was 76.9%, while one year ago, results show that 78.4% of Sydney homes taken to auction were successful. In terms of the number of auctions across the city, this week volumes were higher, up to 1,046 from 1,023 last week. One year ago just 743 Sydney homes were taken to auction over the week. The Northern Beaches sub-region of Sydney has shown the strongest performance so far this week, with 84.4% of the 45 reported results selling, with 18 remaining results yet to be collected.
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<img src="/images/2015/09/14/20150914-Sydney.jpg" alt="" width="828" height="561">
 
Brisbane’s preliminary clearance rate this week was 54.9%, up from 42.9 per cent last week. There were 178 Brisbane auctions this week, compared to 130 last week. The Gold Coast was host to 73 auctions this week. Based on the results reported to CoreLogic RP Data so far, 46.5% have been sold.
<a href="/images/2015/09/14/20150914-Brisbane.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/14/20150914-Brisbane.jpg" alt="" width="808" height="548">
 
This week, Adelaide saw a preliminary clearance rate of 62.0%, with 71 reported results across a total of 88 scheduled auctions. In comparison, over the previous week Adelaide’s clearance rate was 69.5% and 64.3% one year ago.
<a href="/images/2015/09/14/20150914-Adelaide.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/14/20150914-Adelaide.jpg" alt="" width="799" height="536">
 
There were 35 Perth auctions this week and so far 13 results have been reported, with 61.5% selling. Last week there was a 36%clearance rate for Perth.
Across Canberra a total of 79 auctions were held this week, compared to 52 last week and 51 at the same time last year. Canberra’s preliminary clearance rate of 63.6% is lower than it was the previous week (71.7%).
In Tasmania, 5 auctions were reported to CoreLogic RP Data with 4 sales. Last week, 5 auctions were reported with only 1 sale.
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smiller-vwPjRHTkST

Auction volumes rise to 2,615 across capital cities: CoreLogic RP Data's Shana Miller

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The preliminary auction clearance rate once again surprised on the upside, rising to 72.3 per cent this week, compared to 70.1 per cent last week and 74.0 per cent over the same week one year ago.  
Sydney has shown a remarkable bounce in clearance rates over the past few weeks, recording a 78.6 per cent preliminary clearance rate last week, compared with clearances that were tracking in the high 50 percent range during December last year. 
So far this week, CoreLogic RP Data has captured a total of 1,020 auction results with 1,331 having been scheduled across the nation’s capitals. Auction volumes are higher than they were last week when 916 residential homes were taken to auction, however they are still tracking below the volume recorded over the relative week last year (1,541).
<a href="/images/2016/02/15/20160215-Capital-city.jpg" target="_blank"> Click to enlarge</a>
<img src="/images/2016/02/15/20160215-Capital-city.jpg" alt="" width="545" height="411">
 
There were 539 Melbourne auctions this week, 268 last week and 584 over the same week last year. Of the 440 reported results, 73.6 per cent were successful, lower than the 77.6 per cent clearance rate last week and higher than one year ago when 70.9 per cent of reported auctions were successful. Melbourne’s auction clearance rate has fallen below Sydney’s for the first time since mid-September last year. This week, the strongest performing Melbourne sub-region was the Inner East, with a clearance rate of 81.4 per cent across 52 auctions. Following on from this, Inner South, West and Mornington Peninsula all recorded a clearance rate above the 75 per cent mark.
<a href="/images/2016/02/15/20160215-Melbourne.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/15/20160215-Melbourne.jpg" alt="" width="670" height="452">
 
Across Sydney, the nation’s second largest capital city auction market, there were 469 auctions held this week with a preliminary clearance rate of 78.6 per cent. Last week, Sydney’s clearance rate was lower at 75.0 per cent; auction volumes were also lower, with just 313 homes taken to auction over the period. Conditions across Sydney were relatively different one year ago, 662 auctions were held and 83.3 per cent were successful. Across the individual sub-regions of the city, North Sydney and Hornsby (92.5 per cent), City and Inner South (89.1 per cent) and Eastern Suburbs (88.3 per cent) were the strongest performers, while the weakest performing sub-region was South West, with a clearance rate of 52.9 per cent.
<a href="/images/2016/02/15/20160215-Sydney.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/15/20160215-Sydney.jpg" alt="" width="596" height="404">
 
Brisbane’s preliminary clearance rate was 53.3 per cent this week, compared to 54.0 per cent last week and 49.5 per cent one year ago. The city was host to 110 auctions, similar to last week when 111 were held. In comparison, 38.5 per cent of the reported Gold Coast auctions were successful this week, with 26 results reported so far.
<a href="/images/2016/02/15/20160215-Brisbane.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/15/20160215-Brisbane.jpg" alt="" width="657" height="438">
 
Across Adelaide, the preliminary auction clearance rate for this week is 81.4 per cent, up from 70.5 per cent last week and higher than one year ago (69.0 per cent). This week 87 residential homes across Adelaide were taken to auction, bringing the year to date number of auctions across the city to 348, compared to 352 last year.
<a href="/images/2016/02/15/20160215-Adelaide.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/15/20160215-Adelaide.jpg" alt="" width="697" height="473">
25 per cent of Perth’s auctions were successful this week, compared to 35.3 per cent last week and 46.7 per cent one year ago. 45 auctions were held across the city.
In Canberra, a total of 58 homes were taken to auction this week, down from 71 last week and higher than one year ago when 49 homes were auctioned. Canberra’s preliminary clearance rate this week is 73.3 per cent, remaining steady compared to both last week (71.4 per cent) and one year ago (72.3 per cent).
There have been 18 Tasmanian auctions reported to CoreLogic RP Data this week. Of the reported results, 10 have been sold.
 
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Auction clearance rate tracks higher with a preliminary rate of 72.3 per cent: Shana Miller

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

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

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The number of auctions due to be held across the capital city markets this week will remain relatively steady, with CoreLogic currently tracking 1,758 auctions, down from 1,876 last week. 
In Australia’s largest auction market of Melbourne, 778 auctions are scheduled this week, following a higher 871 last week, while in the second largest auction market of Sydney, the number of auctions being held this week (669) is higher relative to last week (647).
Last year, 2,599 auctions were held over the comparable week, which is substantially higher than the activity CoreLogic is tracking this week. This is reflective of what has been seen across the auction market so far this year.  Over the 2016 calendar year to date, 29,426 capital city auctions have been held, compared to 32,616 over the same period last year.
Capital City Auctions this week:
<ul>
<li>Sydney: 669</li>
<li>Melbourne: 778</li>
<li>Brisbane: 117</li>
<li>Adelaide: 84</li>
<li>Perth: 37</li>
<li>Canberra: 65</li>
</ul>
This week, Mosman in Sydney is the busiest individual suburb for auctions, with CoreLogic tracking 16 auctions so far this week. Following Mosman are three Melbourne suburbs, Glen Waverley and Richmond, with 13 auctions scheduled and Thomastown with 12 auctions.
Summary of last week’s results:
<a href="/images/2016/05/20/20160519-capital-city-table.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/20/20160519-capital-city-table.png" alt="">
Final results show that clearance rates strengthened last week, up from 67.7 per cent the previous week to 69.5 per cent, bringing the combined capital city clearance rate back in line with results seen towards the end of last month. The latest result marks the seventh consecutive week where the capital city clearance rate was under the 70 per cent mark, however this isn’t the case for Melbourne (71.3 per cent) and Sydney (76.2 per cent), where clearance rates were above 70 per cent for the sixth week in a row for Melbourne and the fourth week in a row for Sydney.
<a href="/images/2016/05/20/20160519-capital-city.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/20/20160519-capital-city.png" alt="">
Last week, in each of the smaller capital city markets, clearance rates were up on a week-on-week basis.
Looking at some of the key regional auction markets, clearance rates were strongest in Wollongong (73.9 per cent) and Geelong (80.8 per cent) last week, however the number of auctions held in both regions was lower than over the previous week. In the two Queensland lifestyle markets of the Gold Coast and Sunshine Coast, less than half of all reported auctions cleared last week.
<a href="/images/2016/05/20/20160519-sub-regions.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/20/20160519-sub-regions.png" alt="">
 
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Weekend auction numbers steady: CoreLogic RP Data's Shana Miller

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This week 2,419 auctions were held across the combined capital cities, representing a substantial 26 percent rise in auction activity compared to the previous week when 1,920 capital city auctions were held.
This was the fourth highest number of weekly auctions held over the year to date. 
The rise in activity was coupled with a slight fall in preliminary combined capitals clearance rate, from 68.9 percent last week, to 68.0 percent this week. Much of the strength in the combined capitals clearance rate can be attributed to the two largest auction markets (Melbourne and Sydney), where clearance rates remained the strongest nationally.
One year ago, however, both Sydney and Melbourne recorded a clearance rate in excess of 80 percent, and the combined capital city clearance rate was 78.5 percent across 2,792 auctions.
<a href="/images/2016/05/30/20160530-Capital-city.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/30/20160530-Capital-city.png" alt="">
Melbourne was by far the busiest capital city auction market this week, with 1,157 auctions held, up from 843 last week and lower than one year ago (1,248). Preliminary results for the city show 70.8 per cent of auctions sold this week, compared to 70.0 per cent last week and 80.2 per cent one year ago. Across each individual sub-region of the city, performance was somewhat varied with clearance rates ranging from as high as 78.3 per cent in the Outer East across 77 auctions and as low as 65.1 per cent in the South East across 121 auctions.
<a href="/images/2016/05/30/20160530-Melbourne.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/30/20160530-Melbourne.png" alt="">
Across Sydney, a 75.0 percent clearance rate was recorded this week, based on preliminary results. There were 773 auctions held across the city, with 615 results reported so far. In comparison, last week’s clearance rate was 73.2 per cent, lower than this week, while one year ago, 85 percent of the 1,149 auctions held across the Harbour city were successful over the week. While Sydney’s clearance rate isn’t tracking at the same strong levels seen last year, the city has maintained a relatively strong clearance rate since mid-February this year.
This week, in fact, there were two sub regions that recorded a clearance rate above 80 per cent; Eastern Suburbs at 91.9 percent across 116 auctions and North Sydney and Hornsby at 83.3 percent across 114 auctions.
<a href="/images/2016/05/30/20160530-Sydney.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/30/20160530-Sydney.png" alt="">
Brisbane had 190 auctions this week, up from 131 last week, but lower than the 213 one year ago. Preliminary results show a clearance rate of 40.2 percent across the city, compared to 50.9 percent last week and 48.0 percent at the same time last year. Across the Gold Coast 82 auctions were held this week, with 41 results reported so far. The preliminary clearance rate for the region was 41.5 percent.
<a href="/images/2016/05/30/20160530-Brisbane.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/30/20160530-Brisbane.png" alt="">
The preliminary clearance rate for Adelaide was 52.6 percent this week with 122 auctions held, down from 68.8 percent last week across 92 auctions. At the same time last year, there was less auction activity (92) and a higher success rate (67.4 percent).
<a href="/images/2016/05/30/20160530-Adelaide.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/30/20160530-Adelaide.png" alt="">
A total of 20 Perth auction results have been reported so far this week, with 10 sold. The preliminary clearance rate of 50.0 percent shows a week-on-week rise, compared to 42.9 percent last week across 35 results. Over the same week last year, just 21 Perth auctions were held and of the 17 reported results, 41.2 percent cleared.
There were 107 Canberra auctions this week, the busiest week since the week ending 20 March this year when 119 auctions were held. This week represents the third week this year where over 100 auctions have been held in Canberra. Preliminary results show 64.4 percent of Canberra auctions were successful, down from 67.2 percent last week and 68.3 percent one year ago.
So far this week, 6 Tasmanian auctions have been reported with a total of 4 sales 
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Number of auctions surges to the fourth highest week this year: CoreLogic RP Data's Shana Miller

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A preliminary weighted average clearance rate of 68.7% was recorded this week across capital cities compared to 66.9% last week and 72.5% this time last year.
Volumes are rising and are projected to reach a high in the last week of October in what will be a test for the market.
<img src="/images/2014/10/13/Picture%2036.png" alt="">
Source: RP Data
<img src="/images/2014/10/13/Picture%2037.png" alt="">
Source: RP Data 
In Sydney a preliminary clearance rate of 75.8% was recorded compared to 76.4% last week. It is interesting to note that there have been 43% more auctions this year than was the case last year, remarkably the clearance rate has not been affected.
In Melbourne there was a preliminary clearance rate of 67.2% recorded compared to 69.1% last week and 74% this time last year. This was the 15th week with in excess of 1,000 auctions.
In Brisbane a preliminary clearance rate of 54.2% was recorded compared to 47.4% last week.
Adelaide recorded a clearance rate of 58.7% compared to 53.7% last week.
In Canberra a clearance rate of 56.4% was recorded.
In Perth a clearance rate of 33.3% was recorded.
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Auction volumes projected to reach a high in late October: RP Data's national auction wrap

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Melbourne’s booming auction market, with a record 40,000 auctions last year, attracts headlines. But behind the scenes are the quiet achievers: private sales, actually the means by which most homes across Victoria, including in Melbourne, are sold.
While the number of auctions has grown, with vendors seeing the high prices obtained at auction by others and wanting that for their own home, more than 60 per cent of all sales in Melbourne last year were private sales. This resulted in close to 50,000 Melbourne homes being sold through private sale over the 12 months.
While auctions can be favourable to the seller, with the white heat of competition encouraging ever-higher bids and buyers to be highly assertive, private sales avoid that stress. They also allow a longer marketing period than an auction campaign, which is generally a month. 
Traditionally outer suburbs and regional areas, where homes can take longer to sell than in the highly competitive inner suburbs of Melbourne, have been the main centres of private sale activity. 
And last year was no different, with almost all of the top private sale suburbs in Melbourne’s outer region.
The trend has continued in 2015 – with the outer eastern, southern and western suburbs leading the way. Among those with the most private sales this year have been Frankston with 635, Pakenham with 620, Point Cook with 571 and Croydon with 470. Also on the top 10 list were: Mornington, Mooroolbark and Mount Martha.
The active property market in Mildura resulted in 560 private sales for that year, Victoria’s fifth highest total.
What may come as a surprise to some is the number of private sales in Melbourne city itself. In the city of Melbourne there were 717 private sales – a result of the large number of apartment private sales in Docklands and the CBD. Another top performer was the very large middle north suburb of Reservoir, which racked up the highest auction total for the year, and also had the eighth highest total private sales: 409.
While private sale levels are still extremely high, there has been a steady growth in auction levels statewide. So while in January and February last year just 12 per cent of all sales in outer suburbs were by auction, that had risen to 18 per cent in the first two months of this year. Areas with the largest increase in sales by auction included Rosebud, Craigieburn, Edithvale, Springvale and South Morang.
This reflects the value offered by outer suburbs, where population growth is leading to improved infrastructure including shopping centres such as the expanded centre in Craigieburn, transport hubs such as the station at South Morang to which the Epping line was extended, and recreation facilities.
Affordability is also a driver of outer suburban sales in 2015. Melbourne’s most affordable locations at present include Werribee, Hoppers Crossing, Carrum Downs, Wyndham Vale and Hampton Park.
While clearance rates – that is the percentage of properties at auction that sell – are a measure of the health of the auction market, days on the market are the comparable measure for private sales. All the suburbs in which properties sold fastest in February were in outer Melbourne – and, more specifically, outer eastern Melbourne. Top of the list was Croydon Hills with 17.5 days on the market, followed by Croydon South with 19 days and Montrose and Ringwood, both with 21.
Others on the list of the top 10 fastest selling areas were the Basin, Chirnside Park – the biggest improver compared with January, down by 2.5 days to 23, Mooroolbark, Yallambie, Scoresby and Kilsyth.
<a href="https://reiv.com.au/news-resources/latest-news/ceo-steps-down-after-16-years" target="_blank">Enzo Raimondo is the REIV Chief Executive Officer</a>
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Melbourne auction versus private treaty numbers: REIV's Enzo Raimondo

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There are 1,187 auctions scheduled this week in Melbourne compared to 1,172 for the same time last year.
The most auctions are expected in <a href="/news">Reservoir</a> with 24 expected followed by 23 in both <a href="/news">Bentleigh East</a> and <a href="/news">Glen Waverley</a>.
The clearance rate over the past few weeks has provided further confirmation that the market is healthy but not booming.
This is also obvious when the home values are both corrected for inflation and then compared to the previous peaks. At the end of September house values in Melbourne were 3% below their peak in real terms and units 5.4% lower. In many parts of Melbourne buyers have better purchasing power than they did in 2010.
Clearance rates may have dropped but the private sale market continues to tighten.
On a citywide basis, the time on market results for houses sold at private sale was stable at a very low 31 days over the last week and vendor discounting dropped to -4.7%.
Key data:
<ul>
<li>Clearance rate week ending 16 November: 68.9%</li>
<li>Melbourne auctions expected week ending 23 November: 1,187</li>
<li>Melbourne private sales time on market week ending 16 November: 31 days (houses)</li>
<li>Melbourne vendor discounting market week ending 16 November: -4.7% (houses)</li>
<li>Listings being prepared for market are 4.3% higher in month ending 16 November (seasonally adjusted)</li>
</ul>
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Market healthy, but not booming: RP Data's weekend auction preview

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A desire by vendors to sell before Easter and the strong market this year has resulted in record volumes for the year in Sydney, Adelaide and Perth.
The high volumes have not overwhelmed demand which is responding to the interest rate cut two months ago.
A preliminary weighted average clearance rate of 77.5% was recorded this week across capital cities compared to 75.9% last week and 67.7% this time last year.
In Sydney a preliminary clearance rate of 84.6% was recorded compared to 84.8% last week and 75.9% last year. Buyers responded very well to the high volumes this week and kept the market in boom territory.
In Melbourne a preliminary clearance rate was 78.5% was recorded, compared to 77.1% last week and 66.9% this time last year.
In Brisbane a preliminary clearance rate of 45.6% was recorded compared to 41.5% last week and 47.1% last year.
In Adelaide a preliminary clearance rate of 69.1% was recorded compared to 64.6% last week.
In Canberra a clearance rate of 58.1% was recorded compared to 62.1% last week.
In Perth a clearance rate of 57.7% was recorded compared to 23.1% last week and 41.7% last year.
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