<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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It was a quiet week for auctions this week due to the grand finals and the Labour Day long weekend. 
841 properties were taken to auction across the combined capital cities and the preliminary clearance rate was recorded at 69.6 per cent, the lowest clearance rate since the second week of February. In comparison, last week was the busiest week for auctions since the end of March with 2,835 auctions held, however the final clearance rate was only 69.7 per cent. Over the same weekend last year, when only the NRL grand final was being played (The AFL grand final was held a week earlier) almost twice as many auctions were held (1,650); however the clearance rate was a lower 66.9 per cent. 
<a href="/images/2015/10/06/20151006-capital-city.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/06/20151006-capital-city.jpg" alt="" width="837" height="630">
 
Across Melbourne, 90 auctions were held this week and the preliminary clearance rate was recorded at 67.7 per cent, the third lowest clearance rate for the year, compared to last week’s final clearance rate of 72.7 per cent across 1,201 auctions. This time last year, 69.1 per cent of the 912 properties taken to auction sold. Across Melbourne’s individual sub-regions, the strongest performer in terms of clearance rate this week was the North West region, where 8 of the 10 reported auctions were successful. Meanwhile, the South East region was host to the highest number of auctions (21).
<a href="/images/2015/10/06/20151006-Melbourne.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/06/20151006-Melbourne.jpg" alt="" width="682" height="447">
 
In Sydney, preliminary results show a clearance rate of 71.4 per cent across 448 results, with a total of 567 auctions held across the city this week. Last week, the clearance rate was 71.7 per cent across 1,200 auctions. Looking at last year, there were 473 auctions held and a clearance rate of 76.4 per cent was recorded. The Inner West region of Sydney, where 32 auction results have been reported with a clearance rate of 90.6 per cent, is the strongest performing sub-region this week. City and Inner South (79.4 per cent), and North Sydney and Hornsby (78.2 per cent) also recorded strong clearance rates.
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<img src="/images/2015/10/06/20151006-Sydney.jpg" alt="" width="709" height="480">
 
Brisbane was host to 118 auctions this week, down from 203 last week and similar to last years 117. Of the 87 results reported so far, 64.4 per cent have sold, up from last week’s final clearance rate of 54.9 per cent and the 47.4 per cent clearance rate recorded last year. This week, 28 Gold Coast auction results have been reported and the preliminary clearance rate based on these results is 42.9 per cent.
<a href="/images/2015/10/06/20151006-Brisbane.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/06/20151006-Brisbane.jpg" alt="" width="726" height="487">
 
There were 32 Adelaide homes taken to auction this week with a preliminary clearance rate of 71.4 per cent across 28 results. This week’s clearance rate is higher than both last week, when 68.1 per cent of the 127 auctions sold, and this time last year, when a clearance rate of only 53.7 per cent was recorded across 63 auctions.
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<img src="/images/2015/10/06/20151006-Adelaide.jpg" alt="" width="803" height="542">
 
Just 10 auctions were held in Perth this week, significantly lower than both last week (25) and last year (23). Perth’s clearance rate was 75.0 per cent this week, up from 31.6 per cent last week and 25.0 per cent last year.
Across Canberra, the preliminary clearance rate was 53.8 per cent across 13 results. Last week, Canberra’s clearance rate was 58.5 per cent, while one year ago, only 29.3 per cent of auctions were successful.
Of the 4 auctions held in Tasmania this week, there were 2 successful sales.
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smiller-vwPjRHTkST

Grand finals upstage capital city auction markets: Shana Miller

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CoreLogic RP Data’s preliminary auction clearance rate was recorded at 77.0 per cent this week, across a total of 1,790 reported auctions. Auction volumes rose over the week, up from 1,903 the previous week to 2,378 this week, the largest number of capital city auctions held since 10 weeks ago. 
Along with the increase in the number of homes taken to auction, the preliminary clearance rate this week (77.0 per cent) was also higher than the previous week (74.6 per cent) and conditions across the auction market remain stronger than they were one year ago, when 68.0 per cent of the 1,555 homes taken to auction sold.
<a href="/images/2015/08/10/20150810-capital-city.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/10/20150810-capital-city.jpg" alt="" width="680" height="508">
 
As Australia’s largest auction market, Melbourne’s auction market remained strong this week, with a preliminary clearance rate of 78.6 per cent, compared to the previous week, when the clearance rate for the city was 78.2 per cent. The number of homes taken to auction in Melbourne this week was 1,057, up from 787 last week. One year ago, Melbourne’s auction clearance rate was 69.6 per cent across 774 auctions. Across the individual sub-regions of Melbourne, there were three regions where the clearance rate was over 80 per cent this week; Inner Melbourne (80.5 per cent), Inner East Melbourne (81.1 per cent) and Outer East Melbourne (85.6 per cent).
<a href="/images/2015/08/10/20150810-Melbourne.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/10/20150810-Melbourne.jpg" alt="" width="700" height="475">
 
After its record strong performance at the start of the year, Sydney’s auction market is starting to show some signs of slowing down. In saying this, Sydney’s preliminary results this week showing that 77.8 per cent of the 711 reported results sold. In comparison, last week 76.0 per cent of Sydney auctions were successful, while last year the clearance rate was 74.7 per cent. The number of auctions across the city is much higher this week (1,008) than last week (825) and substantially higher than at the same time last year when just 530 homes went to auction. This week, the two strongest performing Sydney sub-regions were Northern Beaches and Inner West, where more than 93 per cent of the reported results for each region were successful.
<a href="/images/2015/08/10/20150810-Sydney.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/10/20150810-Sydney.jpg" alt="" width="778" height="535">
 
Brisbane’s preliminary clearance rate this week was 61.8 per cent, up from 57.9 per cent last week and significantly stronger than the 33.3 per cent from one year ago. There were 141 auctions across the city this week, similar to the number held last week (144) and higher than the 123 held one year ago. Further south of Brisbane, the Gold Coast saw 14 auction results reported this week, with 35.7 per cent selling.
<a href="/images/2015/08/10/20150810-Brisbane.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/10/20150810-Brisbane.jpg" alt="" width="721" height="486">
 
This week, Adelaide’s preliminary clearance rate was 81.4 per cent, a strong result for the city with 43 results from the 76 auction reported so far. In comparison, last week’s clearance rate for the city was 67.7 per cent and 69.1 per cent at the same time last year. The number of auctions across the city remained steady this week, with 76 held this week, compared to 75 last week and 61 at the same time last year.
<a href="/images/2015/08/10/20150810-Adelaide.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/10/20150810-Adelaide.jpg" alt="" width="792" height="538">
 
The preliminary auction clearance rate for Perth was 44.4 per cent this week, with 18 results reported so far. There were 28 Perth auctions held this week, compared to 23 last week, when the final clearance rate was 40.0 per cent and 25 last year, when 57.9 per cent of the auctions were successful.
There were 59 Canberra auctions this week and the preliminary clearance rate of 81.1 per cent is higher than last week (72.2 per cent) and one year ago (55.2 per cent).
So far, 7 Tasmanian auction results have been reported to CoreLogic RP Data and of these 6 were sold.
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Adelaide, Canberra, Tasmania preliminary clearance rates above 80%: Shana Miller

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The combined capital city weighted average clearance rate fell to 72.9% last week, down from 74.6% the previous week, while auction volumes rose from 2,118 to 2,248. Over the current week, CoreLogic RP Data is tracking 2,639 scheduled auctions, which will bring the total auctions for winter 2015 to over 26,500 which is the highest level on record.
This week, between Melbourne and Sydney, Australia’s two largest auction markets, there are more than 2,200 auctions scheduled, with Melbourne expecting 1,190 auctions over the week and 1,086 in Sydney. Both cities saw clearance rates fall last week with Melbourne’s final auction clearance rate down to 74.3 per cent from 76.5% the previous week. Meanwhile, Sydney’s clearance rate of 76.2% was almost identical to the result recorded one year ago (76.1%).
The number of residential auctions scheduled across Adelaide (105), Brisbane (159) and Perth (40) this week is higher than last week, while Tasmania is expecting auction volumes to remain unchanged, with 9 auctions scheduled across the state.
In Canberra, CoreLogic RP Data is currently tracking 50 auctions, a fall from last week when 75 auctions were held, but higher than at the same time last year (37). For the fourth week in a row, Canberra’s clearance rate surpassed the 70% mark, with last week’s final clearance rate for the city recorded at 71.2%.
Richmond in Victoria has the highest volume of auctions scheduled for any one individual suburb this week, with 24 properties set to go under the hammer.  Following on from this, Reservoir, also in Victoria, has 21 auctions scheduled.
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Highest winter total auction level on record: CoreLogic RP Data's Shana Miller

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Despite the higher than expected clearance rates over the early phase of the new year auction market, auction volumes are yet to reach the same levels seen last year.  
After the weighted capital city average auction clearance rate was tracking in the high 50 percent range throughout December last year, auction results have shown a higher than expected bounce, with the clearance rate holding higher than 70 percent over the past three weeks. The preliminary clearance rate of 72.3 percent has moved higher compared to last week (71.8 percent). 
This week’s preliminary clearance rate is lower relative to last year’s results of 77.3 percent. This week, 2,215 capital city auctions took place, compared to 1,400 last week and 2,372 one year ago. Over the next few weeks it is expected that auction activity will continue to ramp up which will further test the resilience of auction markets on higher volumes.
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 <img src="/images/2016/02/22/20160222-Capital-city.jpg" alt="" width="702" height="527">
This week Melbourne’s preliminary auction clearance rate was 73.0 percent. Melbourne’s auction volumes continue to climb, up from 556 last week to 1,057 this week, which is similar to last year (1,074). On a year to date basis, Melbourne’s auction activity is just -1.4 percent lower than over the same period last year. This week, Inner Melbourne (234), Inner South Melbourne (157) and Inner East Melbourne (146) were the busiest sub-regions across the city, however the best performing region in terms of clearance rate was the Outer East, where 54 auctions were reported with a clearance rate of 79.6 percent. All regions with the exclusion of Mornington Peninsula (62.5 percent) saw clearance rates of at least 70 percent this week.
 
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After recording the highest clearance rate for the city since August 2015 last week (78.1 percent), Sydney’s preliminary results show that the clearance rate for the city has slipped slightly lower this week, currently recorded at 77.2 percent. This week 724 auctions were being tracked across the city, higher than the 513 last week, but lower than one year ago when 921 auctions were held across the city. Having recorded a relatively strong clearance rate for the past three weeks, it will be interesting to see if strength is maintained as auction volumes pass the 1,000 mark over the coming weeks.  
Preliminary results show that the performance of each individual sub-region across the city is diverse, with clearance rates as low as 50 percent In Baulkham Hills and Hawkesbury (albeit on a very low volume of auctions with just 12 results reported) and as strong as 88.2 percent for the City and Inner South Region and 88 percent across the Eastern Suburbs.
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The preliminary clearance rate for Brisbane was 54.5 percent this week, compared to a final auction clearance rate of 48.4 percent last week and a stronger 63.6 percent last year. More homes went to auction this week (169) compared to last week (111) and relative to last year (119). This week’s preliminary clearance rate for the Gold Coast across the 18 reported results is 50 percent.
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69.9 percent of Adelaide auctions were successful this week, based on preliminary results. Last week a clearance rate of 75 percent was reported and one year ago it was significantly lower at 53.3 percent, however Adelaide’s clearance rate tends to move more than cities with larger auction volumes on a week on week basis.
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<h1 class="title">Preliminary clearance rate edges slightly higher to 72.3 per cent while auction volumes remain lower than last year</h1>
<div class="post-meta">
by <a href="https://blog.corelogic.com.au/author/shana-miller/" title="Posts by Shana Miller" rel="author">Shana Miller</a> on <abbr class="date time published" title="2016-02-22T09:33:13+1100">February 22, 2016</abbr>  in <a href="https://blog.corelogic.com.au/category/auction-results/">Auction results</a>, <a href="https://blog.corelogic.com.au/category/national-market/">National Market</a>
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Despite the higher than expected clearance rates over the early phase of the new year auction market, auction volumes are yet to reach the same levels seen last year.  After the weighted capital city average auction clearance rate was tracking in the high 50 per cent range throughout December last year, auction results have shown a higher than expected bounce, with the clearance rate holding higher than 70 per cent over the past three weeks.  The preliminary clearance rate of 72.3 per cent has moved higher compared to last week (71.8 per cent). This week’s preliminary clearance rate is lower relative to last year’s results of 77.3 per cent. This week, 2,215 capital city auctions took place, compared to 1,400 last week and 2,372 one year ago. Over the next few weeks it is expected that auction activity will continue to ramp up which will further test the resilience of auction markets on higher volumes.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2016/02/20160222-Capital-city.jpg" rel="attachment wp-att-6340"><img class="aligncenter size-full wp-image-6340" src="https://blog.corelogic.com.au/wp-content/uploads/2016/02/20160222-Capital-city.jpg" alt="20160222 Capital city" width="979" height="735"></a>
This week Melbourne’s preliminary auction clearance rate was 73.0 per cent. Melbourne’s auction volumes continue to climb, up from 556 last week to 1,057 this week, which is similar to last year (1,074). On a year to date basis, Melbourne’s auction activity is just -1.4 per cent lower than over the same period last year. This week, Inner Melbourne (234), Inner South Melbourne (157) and Inner East Melbourne (146) were the busiest sub-regions across the city, however the best performing region in terms of clearance rate was the Outer East, where 54 auctions were reported with a clearance rate of 79.6 per cent. All regions with the exclusion of Mornington Peninsula (62.5 per cent) saw clearance rates of at least 70 per cent this week.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2016/02/20160222-Melbourne.jpg" rel="attachment wp-att-6341"><img class="aligncenter size-full wp-image-6341" src="https://blog.corelogic.com.au/wp-content/uploads/2016/02/20160222-Melbourne.jpg" alt="20160222 Melbourne" width="984" height="657"></a>
After recording the highest clearance rate for the city since August 2015 last week (78.1 per cent), Sydney’s preliminary results show that the clearance rate for the city has slipped slightly lower this week, currently recorded at 77.2 per cent. This week 724 auctions were being tracked across the city, higher than the 513 last week, but lower than one year ago when 921 auctions were held across the city. Having recorded a relatively strong clearance rate for the past three weeks, it will be interesting to see if strength is maintained as auction volumes pass the 1,000 mark over the coming weeks.  Preliminary results show that the performance of each individual sub-region across the city is diverse, with clearance rates as low as 50 per cent In Baulkham Hills and Hawkesbury (albeit on a very low volume of auctions with just 12 results reported) and as strong as 88.2 per cent for the City and Inner South Region and 88 per cent across the Eastern Suburbs.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2016/02/20160222-Sydney.jpg" rel="attachment wp-att-6342"><img class="aligncenter size-full wp-image-6342" src="https://blog.corelogic.com.au/wp-content/uploads/2016/02/20160222-Sydney.jpg" alt="20160222 Sydney" width="983" height="669"></a>
The preliminary clearance rate for Brisbane was 54.5 per cent this week, compared to a final auction clearance rate of 48.4 per cent last week and a stronger 63.6 per cent last year. More homes went to auction this week (169) compared to last week (111) and relative to last year (119). This week’s preliminary clearance rate for the Gold Coast across the 18 reported results is 50 per cent.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2016/02/20160222-Brisbane.jpg" rel="attachment wp-att-6339"><img class="aligncenter size-full wp-image-6339" src="https://blog.corelogic.com.au/wp-content/uploads/2016/02/20160222-Brisbane.jpg" alt="20160222 Brisbane" width="969" height="648"></a>
69.9 per cent of Adelaide auctions were successful this week, based on preliminary results. Last week a clearance rate of 75 per cent was reported and one year ago it was significantly lower at 53.3 per cent, however Adelaide’s clearance rate tends to move more than cities with larger auction volumes on a week on week basis.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2016/02/20160222-Adelaide.jpg" rel="attachment wp-att-6338"><img class="aligncenter size-full wp-image-6338" src="https://blog.corelogic.com.au/wp-content/uploads/2016/02/20160222-Adelaide.jpg" alt="20160222 Adelaide" width="971" height="658"></a>
Preliminary results show 46.2 percent of Perth auctions sold this week, with 13 reported results so far. In comparison, last week the clearance rate was 31.6 percent, while one year ago 46.4 percent of Perth auctions were successful.
This week auction volumes almost doubled in Canberra, with 104 homes taken to auction, compared to 59 last week. Despite the rise in auction activity, Canberra’s preliminary clearance rate has remained steady at 71.2 percent over the past two weeks. Canberra’s auction market has started 2016 in a relatively strong position, with four consecutive weeks of clearance rates above the 70 per cent mark, similar to what we saw one year ago.
There were 10 auctions across Tasmania this week. Based on preliminary results, five of the six reported auctions were successful.
 
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Combined capital city clearance rate edges slightly higher to 72.3 percent: Shana Miller 

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

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The number of homes taken to auction remains high, with 3,087 auctions held this week, down from 3,274 over the previous week, however, the preliminary clearance rate of 60.8% has fallen, down from 62.3% last week, mainly due to the drop in Melbourne’s clearance rate, which is currently sitting below 65%. Over the corresponding week last year, the clearance rate was a stronger 65.7% and 3,315 auctions were held.
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Melbourne’s clearance rate remains under 70 per cent for the 5th week in a row, with this week’s preliminary clearance rate recorded at 64.7 per cent, down from 69.8 per cent last week, and weaker than the clearance rate for the city one year ago (66.1 per cent). This week, Melbourne was host to 1,477 auctions, lower than the 1,567 held last week, but higher than a year ago when there were 1,433 Melbourne auctions held over the week. Of the 9 individual Melbourne sub-regions, this week the strongest performer, in terms of clearance rate was the North East region. So far, CoreLogic RP Data has collected 153 results for the region and the preliminary result shows 71.9 per cent of these auctions were successful.
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Across Sydney, the preliminary auction clearance rate was 59.3 per cent this week, the third week in a row where Sydney has recorded a result below 60 per cent. Last week, Sydney’s clearance rate was 58 per cent, the lowest clearance rate seen since the week ending 10 February 2013 (55 per cent); significantly lower than one year ago, where results show that 71.8 per cent of Sydney homes taken to auction were successful. In terms of the number of auctions across the city, this week volumes were lower, down to 1,080 from 1,223 last week. One year ago 1,337 Sydney homes were taken to auction. The Eastern suburbs sub-region of Sydney has shown the strongest performance so far this week, with 82.6 per cent of the 69 reported results selling, with 33 remaining results yet to be collected.
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The preliminary clearance rate in Brisbane this week was 43.6 per cent, up from 39.5 per cent over the previous week. Auction volumes were higher this week with 226 auctions held, up from 198 last week. Meanwhile, across the Gold Coast, 32 per cent of the 50 reported auctions were successful.
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Adelaide recorded a clearance rate of 66.7 per cent across 141 auctions this week, up from 52.4 per cent across 121 auctions last week. At the same time last year, 147 homes were taken to auction, with 61.2 per cent recording a successful result.
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There were 39 Perth auctions this week and so far 22 results have been reported, with just 36.4 per cent selling. Last week there was a 44.4 per cent clearance rate for Perth across 39 auctions and at the same time last year, 38.3 per cent of the 55 auctions held were successful.
Canberra’s clearance rate was 63.6 per cent this week across 111 auctions, compared to 63.2 per cent last week across 102 auctions.
Of the 5 Tasmanian auction results reported so far this week, 1 sale has been recorded.
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Sydney’s clearance rate under 60% for the third week in a row: CoreLogic RP Data's Shana Miller

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This week marks the second busiest week for auctions across the combined capital cities this year, with 3,649 auctions held over the week, just short of the 3668 held earlier this year, over the last week of March. 
This week the preliminary clearance rate is 60.1%, having increased, albeit only slightly, from a low of 59.5% last week, the first time the clearance rate has dipped below 60 % since Easter 2013. At the same time last year, both auction volumes (3,908) and the clearance rate were higher (63.7%).
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This week in Melbourne, Australia’s largest auction market, saw the highest volume of auctions so far this year, with 1,828 auctions held across the city, up from 1,510 last week. A preliminary auction clearance rate of 65 % was recorded this week, rising slightly from 64.7 % last week. This time last year, 1,635 properties were taken to auction across Melbourne and a clearance rate of 63 % was recorded. The highest volume of auctions was held across Inner Melbourne this week, with 347 auctions and a preliminary clearance rate of 71 %, the strongest of any other Melbourne sub-region so far this week.
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Sydney’s preliminary clearance rate this week was 56.3 % across 954 auction results. There were a total of 1,284 auctions held across the city. Last week, Sydney had recorded the lowest clearance rate for the year to date (56.7 %), with 1,116 properties going to auction, however this week has seen the clearance rate fall even further and it will be interesting to monitor this as additional results are reported over the next few days. Looking back at this weekend last year, 1,631 auctions were held across Sydney and a clearance rate of 70.6 % was recorded. Sydney’s North Sydney and Hornsby region hosted the most auctions of any Sydney sub-region this week, with 185 properties taken to auction. The preliminary clearance rate for the region is higher than the wider Sydney result, at 62.8 % across 132 results.
Click to enlarge
 <img src="/images/2015/11/30/20151130-Sydney.jpg" alt="" width="808" height="545">
There were 211 Brisbane auctions this week with half of the 156 results reported as selling. In comparison, last week the final auction clearance rate for the city was 41% across 226 auctions and this weeks 50% clearance rate is also higher than one year ago when there were 294 auctions with a success rate of 37.8%. The Gold Coast’s preliminary clearance rate was 39.2% across 51 results this week.
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<img src="/images/2015/11/30/20151130-Brisbane.jpg" alt="" width="797" height="529">
 
This week, Adelaide saw a preliminary clearance rate of 59.5 %, with 116 reported results across a total of 155 scheduled auctions. In comparison, over the previous week Adelaide’s clearance rate was 64.4 % and 62.3 % one year ago.
Perth’s clearance rate of 34.4 % across 59 auctions is similar to the previous week, when 40 auctions were held and a clearance rate of 31.3 % was recorded.  Over the same week last year, the clearance rate was a lower 28.3 %, and 62 auctions were held.
Canberra’s preliminary auction clearance rate of 58.6 % this week is lower than last week, when the final auction clearance rate was 61.8 % and also lower than the 59.5 % recorded last year.
 
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Second largest auction weekend for the year: CoreLogic RP Data's Shana Miller

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Auction volumes fell to 3,209 this week, after last week saw auction activity rise to the highest levels seen all year with 3,729 auctions held across the combined capital cities, bringing spring auction volumes to the highest on record.
 The preliminary auction clearance rate slipped further this week, down to 59.2 per cent, compared to 60.1 per cent over the previous week. Over the same weekend last year, 3,507 homes were taken to auction and a clearance rate of 63.7 per cent was recorded.
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<img src="/images/2015/12/7/20151207-capital.jpg" alt="" width="696" height="521">
 
In Melbourne, auction volumes remain high with 1,603 auctions held, despite falling from a record high of 1,876 last week. The clearance rate has fallen, with preliminary results showing a 63 per cent success rate, down from 65.9 per cent last week. This time last year, the clearance rate for Melbourne was 66 per cent across 1,733 auctions. The busiest Melbourne sub-regions this week were Melbourne’s Inner region and the Inner South region, where 323 and 264 auctions were held respectively. The best performing regions in terms of clearance rates this week were Mornington Peninsular, with a clearance rate of 69.4 per cent, albeit on a low volume of reported results (36) and North East Melbourne, where the preliminary clearance rate was 68.4 per cent across a total of 152 results.
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<img src="/images/2015/12/7/20151207-Melbourne.jpg" alt="" width="821" height="552"> 
Sydney was host to 1,051 auctions this week, down from 1,306 last week, while the preliminary clearance rate has fallen for the tenth consecutive week, to 55.6 per cent, from 56.2 per cent last week.  The latest result signifies the 5th week in a row where Sydney’s clearance rate has been under the 60 per cent mark. One year ago 1,294 Sydney homes were taken to auction over the week, and 66.1 per cent were successful. There were five Sydney sub-regions this week where the preliminary clearance rate was above 60 per cent including Inner West (66.1 per cent), Eastern Suburbs (65.2 per cent), City and Inner South (64 per cent) and Northern Beaches and North Sydney and Hornsby (both 62.5 per cent).
 
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<img src="/images/2015/12/7/20151207-Sydney.jpg" alt="" width="691" height="468">
The preliminary clearance rate in Brisbane this week was 46.6 per cent, down from 47.3 per cent over the previous week. Auction volumes were lower this week with 200 auctions held, compared to 215 last week. Meanwhile, across the Gold Coast, 41.4 per cent of the 29 reported auctions were successful.
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A total of 139 Adelaide homes were taken to auction this week, with a preliminary clearance rate of 70.8 per cent across 96 results, the strongest clearance rate of any capital city this week. Last week, Adelaide’s clearance rate was 58 per cent across 158 auctions.
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<img src="/images/2015/12/7/20151207-Adelaide.jpg" alt="" width="814" height="551">
 
This week was Perth’s busiest of the year, with 80 auctions held this week. Perth’s clearance rate remained steady over the week, at 36 per cent.
Across Canberra a total of 121 auctions were held this week, compared to 98 last week and 87 at the same time last year. Canberra’s preliminary clearance rate of 67.1 per cent is higher than it was the previous week (58.3 per cent).
So far this week, 8 Tasmanian auctions were reported, with just two sales recorded, both prior to their associated auctions.
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First week of summer shows clearance rate slipping further: CoreLogic RP Data's Shana Miller

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The preliminary clearance rate across the combined capital cities rose this week, up from 69.5 percent the previous week to 70.0 percent.
The level of activity across the capital city auction market was similar to the previous week, with 1,863 auctions held this week, compared to 1,876 last week. Auction activity remains well below the comparable week last year, however, when 2,599 capital city auctions were held and 79.1 percent cleared.
After ANZAC weekend last year, there were five consecutive weeks of more than 2,200 auctions held across the combined capitals; however the same activity hasn’t been replicated this year.
<a href="/images/2016/05/23/20160523-capital-city.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/23/20160523-capital-city.png" alt="">
This week, there were 825 auctions held in Melbourne, down from 871 last week, and also lower compared to one year ago (1,162). Preliminary results show that 70.7 percent cleared this week, falling from 71.3 per cent last week and well below the 82.1 per cent one year ago.
Over the past seven weeks, Melbourne has maintained a clearance rate above 70 per cent. The most auction activity this week happened in Melbourne’s Inner sub-region, where 172 auctions were held and preliminary results show a 72.2 per cent clearance rate. On the other hand, the strongest clearance rate across the city so far this week was in the Outer East region at 80 per cent across 50 results from 57 auctions.
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<img src="/images/2016/05/23/20160523-Melbourne.png" alt="">
Sydney’s preliminary clearance rate was 74.2 per cent this week, having fallen from 76.2 per cent last week. The latest result marks the second week in a row where Sydney has been the best performing capital city market. While the clearance rate fell on a week-on-week basis, the number of residential auctions held across the city rose, from 647 last week to 700 this week. Similar to the broader market, Sydney’s auction activity this week is much lower than what was seen last year, when 1,018 auctions were held and 86.2 per cent cleared. Across the individual sub-regions of the city, the best performers this week were City and Inner South (86.5 per cent) and North Sydney and Hornsby (83.0 per cent).
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<img src="/images/2016/05/23/20160523-Sydney.png" alt="">
Across Brisbane 128 auctions were held this week, having fallen from 151 last week and also lower than one year ago (159). Preliminary results show 55.3 per cent of auctions were sold this week, compared to 49.3 per cent last week, meaning this week was the cities strongest clearance rate in twelve weeks. This week’s result is also higher than last year, when 46.2 per cent of Brisbane auctions were successful. There were 47 GoldCoast auctions this week with a preliminary clearance rate of 42.9 per cent.
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Adelaide was host to 92 auctions this week with a preliminary clearance rate of 70.1 per cent. Last week 66.3 per cent of Adelaide’s 103 auctions were successful, while one year ago the city’s clearance rate was 70.9 per cent. Adelaide is the only city where more auctions were held this week compared to last year, when 88 auctions were held.
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There were 42 Perth auctions held this week, 44 last week and 53 one year ago. The preliminary clearance rate this week is 54.5 per cent, up from 28.9 per cent last week and also higher than one year ago when one third of auctions across the city sold.
Preliminary results show 61.4 per cent of Canberra auctions sold this week, compared to 58.3 per cent last week and 63.5 per cent one year ago. There were 67 Canberra auctions held this week, up from 52 last week, but well below volumes seen last year (103).
5 Tasmanian auctions have been reported so far with just 1 sale.
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Strong clearance rates in the Sydney and Melbourne auction markets: CoreLogic RP Data's Shana Miller

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Auction volumes remain high with 2,898 properties taken to auction this week, up from 2,547 last week, while the clearance rate has increased to 63.7%, up from 61.0%, the lowest clearance rate since the week ending 8th June 2014 (60.6%). 
The higher weighted average clearance rate was mainly the result of a stronger clearance in Melbourne, where, despite high volumes, the preliminary clearance rate rose to be just under 70%. At the same time last year, auction volumes were comparable, with 2,942 homes taken to auction and a clearance rate of 63.5%. Last week’s result brought the October clearance rate across the capital cities to 66%, down from 70.9% over September and lower than October 2014 (68.4%).
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Across Melbourne, volumes have increased after the Spring Racing Carnival, with 1,189 properties taken to auction, compared to 629 last week. The clearance rate was recorded at 69.3 %, up from 65.6 % last week, making it the third week in a row where the clearance rate has been below 70 %. Over the same weekend last year, the clearance rate was 65.5 % across 1,139 auctions. Of the 9 individual Melbourne sub-regions, this week the strongest performer, in terms of clearance rate was the Mornington Peninsula. So far, CoreLogic RP Data has collected 37 results for the region and the preliminary result shows 78.4 % of these auctions were successful.
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Sydney’s preliminary clearance rate this week was 61.9 % across 950 auction results. There were a total of 1,222 auctions held across the city. Last week, Sydney recorded the lowest clearance rate since Easter 2013 (58.2 %) with only 60.2 % of the 1,391 auctions recording a successful result. Looking back at this weekend last year, 1,261 auctions were held across Sydney and a clearance rate of 68.1 % was recorded. North Sydney and Hornsby hosted the most auctions of any Sydney sub-region this week, with 198 properties taken to auction. The preliminary clearance rate for the region is 67.1 % across 149 results.
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There were 167 Brisbane homes taken to auction this week, with 109 results reported so far. The preliminary clearance rate for the city is 42.2%, down from 48.8% last week and lower than one year ago, when 43.1% of the 188 properties taken to auction were successful. Across the Gold Coast 34 results have been reported so far, with a success rate of 55.9% (19 sales).
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This week, Adelaide’s preliminary clearance rate was 64.0 per cent, with 114 reported results across a total of 143 scheduled auctions. In comparison, over the previous week Adelaide’s clearance rate dipped to 57.0 per cent and 57.4 per cent one year ago.
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In Perth, 44 auctions took place this week, with 28 results reported so far. Perth’s preliminary clearance rate of 17.9% across these 28 results is significantly lower than both last week’s result (58.1%) and the clearance rate from one year ago (50%).
Canberra’s clearance rate was 78.3% this week across 119 auctions, up from 71% last week across 131 auctions.
Of the 9 Tasmanian auction results reported so far this week, 2 sales have been recorded.
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