Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

Auctions

<html><body>
A former two-storey Middle Park scout hall that had residential zoning sold at weekend auction for $2.43 million. It was Melbourne's fifth highest sale.
The starting bid was $1.5 million, with 165 Ashworth Street confirmed on the market at $1.95 million.
There was a bidding war between five buyers for the two-storey shell on a 140 square metre block.
Scouts Australia had owned the property since the 1950s.
Cayzer Albert Park sold it to a local resident.
There was a weekend clearance rate of 76%, according to the REIV.
It compared to 72% last weekend and 73% the same weekend last year.
There were 852 auctions reported to the REIV, the first major auction weekend of the year.
There are 1,470 auctions scheduled for next week.
After a slow start the REIV chief Enzo Raimondo said by the end of February, more than 3,000 homes are expected to have been auctioned, which is about 500 more than February last year.
The clearance rate for the year to date is 71%, compared to 70% in 2014.
TOP 5 HOUSES
1. 31 Cosham Street, Brighton $6,050,000
2. 20 Madden Street, Balwyn North $2,708,000
3. 73A and 75 Tower Road, Mount Eliza $2,600,000
4. 36 Bourne Road, Glen Iris $2,540,000
5. 165 Ashworth Street, Middle Park $2,430,000
TOP 5 BARGAIN HOUSES
1. 28 Hurlingham Way, Craigieburn $316,000
2. 45 Ross Street, Dandenong $317,000
3. 22 Seacrest Avenue, Seaford $328,000
4. 7 Bembridge Mews, Craigieburn $330,000
5. 5 Jesson Crescent, Dandenong $337,000
TOP 5 APARTMENTS
1. 4/12 St James Park Drive, Brighton $1,945,000
2. 1/6 Stanley Street, Brighton $1,506,000
3. 28B Well Street, Brighton $1,420,000
4. 38B Langdon Road, Caulfield North $1,360,000
5. 5/94 Charles Street, Ascot Vale $1,340,000
TOP 5 BARGAIN APARTMENTS
1. 5/90 Roberts Street, West Footscray $181,000
2. 6/7 Jepson Street, Yarraville $225,000
3. 11/7 Hatfield Court, West Footscray $255,000
4. 6/41 Cumming Street, Brunswick West $264,500
5. 3/30 Eldridge Street, Footscray $270,000
Source: REIV
</body></html>

jchancellor-FAypfDUnLy

Middle Park scout hall sold at $2.43 million

<html><body>
The trend of lower auction volumes in 2015 continues with 29% fewer homes on offer across capital cities this week. 
The low volumes appear to have contributed to strong rises in the clearance rate last week in both Sydney and Melbourne.
There are 2,497 auctions expected this week across Australia with 2,058 expected in capital cities. This is compared 1,541 last week and 2,905 for the same week last year.
In Sydney 775 auctions are expected compared to 662 last week and 1,101 this week last year. The clearance rate last week was the highest in a year and should encourage a few more vendors to list for sale as there is clearly strong demand from buyers.
In Melbourne 936 auctions are expected compared to 584 last week and 1,401 this week last year. The 10-point rise in the clearance rate last week is a sign of a healthy market and provides an indication that the interest rate cut has been welcomed by buyers.
There are 101 auctions expected in Brisbane compared to 118 last week and 161 this week last year.
This week there are 124 auctions expected in Adelaide compared to 91 last week and 118 on the same week last year.
In Canberra there are 77 auctions expected compared to 49 last week and 65 this week last year.
In Perth 30 auctions are expected compared to 26 last week and 49 this week last year.
Across Australia the highest volume of auctions in one suburb are 20 in Richmond (Vic). Of the 2,497 homes being auctioned 936 are listed as three bedrooms, 666 as four bedrooms and only 162 with five bedrooms.
Melbourne auction preview
There are 936 auctions scheduled this week in Melbourne compared to 1,401 for the same time last year. The highest volume of auctions will be in Richmond with 20 scheduled. There are 17 in Bentleigh East and St Kilda.
The Melbourne auction market is sending mixed messages at the moment, on one hand the clearance rate has risen to be closer to the trend rate for last year, when it was 68.2%. In contrast volumes are low suggesting that potential vendors are lacking the confidence shown last year.
It is also possible that vendors and their real estate agents are choosing private sale instead of auction as a method of sale. It won’t however be possible to ascertain if that is happening for a few months.
In respect of the private sale market in the past week, on a citywide basis, the time on market results for houses sold at private sale was 66 days, slightly up from 65 days in the previous week. Overall vendor discounting was up slightly to -5.2% from -5.1%.
Key data
<ul>
<li>Clearance rate week ending 15 February: 70.9%</li>
<li>Melbourne auctions expected week ending 22 February: 936</li>
<li>Melbourne private sales time on market week ending 15 February: 65 days (houses)</li>
<li>Melbourne vendor discounting market week ending 15 February: -5.2% (houses)</li>
<li>Listings being prepared for market are 3.5% lower in the month ending 15 February (seasonally adjusted)</li>
</ul>
</body></html>

rlarocca-zWhvjay44N

Volumes continue to be low but clearance rate rises: Weekend auction preview

<html><body>
At 6.00 pm on Saturday, on our first auction day of the year for Inner East and Bayside we have been to 13 auctions – all had bidders and all sold.
No emphasis on stats today as there were very few $1 million plus auctions , Inner Melbourne’s big auction games start next week.
I’ve really only had this week to get a “face to face street feel” on what’s happening in 2015. It appears to have started strongly and the vibe from the agents at the 20 homes which I inspected and rated was positive and “maaaate, the market continues to fire”. Heaps of people through opens.
Our company enquiry levels are up solidly on last year and we concur with what the selling agents are whispering under their breaths. We have already started with an auction win and a miss ($1 - $2 million) and the market hasn’t really got going in auctions yet. Off markets and other types of buying has also started for us.
Auction-wise, next week is different, a strong weekend with around 140 auctions over $1 million scheduled for Inner East and Bayside and the following week is a Super, Super Saturday with nearly 250. Hold onto your hats.
No we mean it – buyers should be holding onto their hats and only put their hand up if it makes sense. Every February we expect a strong start and this year is not unusual. After a six week Christmas hiatus there are a number of nervous nellies out there pushing hard on prices – it happens every year. It appears it will happen again this year.
So demand is coming from four types of buyers:
<ol>
<li>New local buyers (average price thoughts)</li>
<li>New overseas buyers (higher than average price thoughts)</li>
<li>An array of nervous nellies (higher than average price thoughts)</li>
<li>Last year’s wounded underbidders (higher than average price thoughts)</li>
</ol>
All these buyers are pushing through the February OFI doors like a Boxing Day David Jones Doorbuster Sale.
Every year around this time, we urge caution, 2015 will be the same. If it’s good, go for it; but once the bidding get’s past very strong, consider your competitors, consider your alternatives, consider stopping and trying on another home, another day.
Case in point (1): Last weekend on the one we missed at 14 Parliament Street, Brighton (Julian Augustini) – agent quoting around $950,000 to $1,050,000. We opened at $1,100,000 and then a guy bid $1,150,000 and then bid against himself up another $50,000 to $1,200,000. We competed against him and another bidder, until we were beaten at $1,325,000. Please, this was a good home for what it was and congratulations to the buyer – bought a good property, but the agents will tell you they couldn’t get it sold late last year around the opening bid (nearly $200,000 south of today’s price).
Case in point (2): We could have bought 8 Johnson Street, Hawthorn (James Tostevin) quietly last year circa $1,600,000. We didn’t. Today four bidders competed to just over $1,800,000.
Case in point (3): We couldn’t buy a property pre-Christmas off market, but bought it this year before auction – Glen Iris (Cameron Edgoose).
So has the market started with a bang or is this the usual February ”Berocca” effect where you wake up desperate, take a Berocca and go out there and take the world on?
Big numbers through opens in February is about as Melburnian as big numbers through the gates at the first round of the footy season.
While the market mood appears just as strong as last year, maybe even more so, any longer term market shift won’t be evident until Super Saturday 28 March and confirmed mid May.
Mal writes weekly auction reports, advice and in-depth market analysis on <a href="https://www.jamesbuyeradvocates.com.au/" target="_blank">James' website</a>.
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maljames-vHwm28JUAa

Caution - nervous bidders are pushing hard on auction prices: Mal James

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The rubbish-strewn property owned by Sydney’s worst hoarders, the Bobolas family, has been withdraw from tonight's auction.
The Bobolas family had come forward to settle the existing judgments of around $180,000 with the Sheriff's Office on the day leading up to tonight's scheduled auction.
The property at 19 Boonara Avenue, Bondi is prime real estate in the tightly-held beachside suburb, so much so that 64 contracts had been issued during its marketing without a single inspection.
It was expected to sell for $1.8 million plus given the 550 square land size at its proposed Raine &amp; Horne auction. The house was bought in 1973 for $15,000.
The funds had to be received and cleared to stop the auction going ahead. The property had no registered mortgage on its title. Property Observer noted four writs on the title.
It was the first sheriff's auction undertaken by the Raine &amp; Horne veteran Ric Serrao in his 24 years selling Bondi property.
<pre> AT BONDI
 LOCAL GOVERNMENT AREA WAVERLEY
 PARISH OF ALEXANDRIA COUNTY OF CUMBERLAND
 TITLE DIAGRAM <a href="">DP9503</a>

 FIRST SCHEDULE
 --------------
 

 SECOND SCHEDULE (5 NOTIFICATIONS)
 ---------------
 1 RESERVATIONS AND CONDITIONS IN THE CROWN GRANT(S)
 * 2 <a href="">AI745374</a> WRIT BY WAVERLEY COUNCIL. WRIT. NO 2012/00226206.
 ISSUED 2/9/2014. LOCAL COURT
 * 3 <a href="">AI745377</a> WRIT BY WAVERLEY COUNCIL. WRIT NO.2009/00347285.
 ISSUED 2/9/2014. LOCAL COURT.
 * 4 <a href="">AI745378</a> WRIT BY WAVERLEY COUNCIL. WRIT NO. 2006/00301254.
 ISSUED 2/9/2014. LOCAL COURT
 * 5 <a href="">AI745379</a> WRIT BY WAVERLEY COUNCIL. WRIT NO. 2009/00349854.
 ISSUED 2/9/2014. LOCAL COURT.
</pre>
Positioned in one of the suburbs most desirable streets, the freestanding dilapidated house offered plenty of scope to build your dream home subject to council approval.
The land which could become a duplex strata project is a short walk to public transport, local cafes, restaurants &amp; shops.
The property has been the sad centre of controversy for decades with more than $350,000 of Waverley ratepayers money spent trying to control the tonnes of rubbish.
Waverley Council has attempted to address the major public health and safety problems associated with the continual hoarding at the Bondi property over the last 25 years, a council spokesman said on its listing.
“The Land and Environment Court has ordered the owners of the property to pay the costs on each occasion, however, the council has never received payment,” the listing read.
Council have said the situation is a public health and safety issue for the family, and for the nearby residents.
As a result of the civil court judgment, the Sheriff's Office engaged Raine &amp; Horne to conduct the marketing and auction of the property. The auction of the property had been expected to occur on 17 February at 7.30pm at private rooms. The Sheriff sets a reserve price for any such property. The proceeds from the sale are then used to pay outstanding debts that are owed as well as Sheriff and real estate agent costs.
If there are any remaining funds after debts have been paid, then the debtor will receive the rest. Potential buyers were advised that unless the rubbish is removed prior to the sale, then the property will be sold as is. The Sheriff's Office does approximately 20 land sales a year in Sydney. Sheriffs do not initiate land sales, they are simply agents who execute the auction on the order of the courts. Land sales only occur if the debt is higher than $10,000 and there are no other assets. Once a notice of land sale is issued, the debtor can clear the debt of their own accord right up to the day of sale. As often properties are sold with occupants and/or tenants still living in them, buyers purchase the properties knowing they have to apply for a writ of possession at the Supreme Court.
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Sheriff cancels Bobolas hoarders home auction offering at Bondi

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There were some 105,000 property transactions across Victoria in 2014, with around 87,000 sales in Melbourne, according to the Real Estate Institute of Victoria (REIV).
Some 43% of sales in 2014 in Melbourne were by auction, compared to 37% in 2013.
During the December quarter 2014, three suburbs - Richmond, Northcote and Strathmore - joined the million dollar median list for the first time.
In 2014, auctions accounted for 60% of all sales within these suburbs.
"As a result of the increased volume of auction sales last year, the median price for houses sold by auction in the 12 months ending December 2014 increased by 7%," REIV chief Enzo Raimondo said.
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43% of 2014 Victorian sales by auction: REIV

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When the apartment Charlotte and Josh made over on this season of The Block was passed in at auction this weekend, many wondered if it was another case of The Block curse.
It seems, however, that it was merely a case of market forces at play.
The apartment, passed in at $390,000, <a href="/expert-insights/buying/curse-of-the-block-how-the-other-caroline-street-apartments-have-performed">was sold after auction for $445,000</a>, some $92,222 higher than the average apartment price Frank Valentic's syndicate of investors paid when they purchased the 18-apartment block.
Jarrod McCabe, buyers agent associate director of Wakelin Property Advisory, says the location of the one bedroom apartment "ticks many but not all the boxes".
"South Yarra is a wonderful suburb," says McCabe.
"Caroline Street is great as well in places, given its proximity The Domain and so on. However, the property is directly opposite a major school (Melbourne's Girls' Grammar) and there is likely to be a significant traffic issues at peak times."
McCabe explains that Wakelin Property Advisory chooses properties according to their location first, then the property type and its presentation.
The apartment's position within the block itself could also impact its potential for capital growth.
"The property itself sits within a catwalk, three storey block, in a top corner.
"Often, catwalk properties aren't a great investment as there can be a lot of pedestrian traffic past occupants' windows which can be a privacy and security issue, deterring buyers. However, in this instance, the property is at the top of the building and is not a through route to other apartments," says McCabe. The apartment block has been recently renovated, with new paint, and offers dedicated off-street parking, an inclusion McCabe says "is a mandatory requirement in our opinion for apartment investments".
McCabe also notes that Charlotte and Josh's renovation of the 47 square metre, one bedroom apartment meets a "reasonably high standard", and is "contemporary without being too avant garde". However, the apartment has not been fully renovated, with the front door and laundry both "needing attention".
While McCabe thinks the 85 Caroline Street block is one of the better investments that has appeared on The Block in Melbourne, it doesn't quite meet the investment advisory group's standard, with Wakelin seeking the "best 5% of properties in the market from the investment perspective".
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jrichardson-uRX5hFdKfN

Charlotte and Josh's apartment on The Block "doesn't tick all the boxes"

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 A four bedroom, three bathroom Mosman house was the most expensive home to sell last week, according to CoreLogic RP Data.
The dual-pavillion home at <a href="https://www.realestate.com.au/property-house-nsw-mosman-118329207" target="_blank">1 Lavoni Street</a> (pictured above) was sold for $4,375,000 through Simeon Manners Property Mosman.
Each of the pavillions connect via enclosed glass walkways overlooking courtyards. The house has timber floors, with custom made cabinetry and a gas fireplace. The master bedroom includes a built in robe, an en suite and a Juliette balcony.
The vendors had attempted to sell the home twice before securing $4,375,000 last week, including a 548 day campaign that stretched from November 2011 to May 2013. They paid $3.8 million for the house in April 2005.
Nine of the top 10 sales of the week came from Sydney, with a <a href="/expert-insights/buying/moonee-ponds-tops-melbournes-valentines-day-auctions">$2.44 million Moonee Ponds house</a> sold at auction the exception.
CoreLogic RP Data's 10 most expensive sales for the week ending 15 February:
<ol>
<li>
1 Lavoni Street, Mosman, NSW 4 bed, 3 bath, 2 car house $4,375,000 Sold through Simeon Manners Property Mosman 
</li>
<li>
17 Cairo Street, South Coogee, NSW 3 bed, 2 bath, 1 car house $3,650,000 Sold through NG Farah Real Estate Kingsford 
</li>
<li>
7A Duke Place, Balmain East, NSW 4 bed, 3 bath, 2 car house $3,400,000 Sold through McGrath Estate Agents 
</li>
<li>
3/46 Cliffbrook Parade, Clovelly, NSW 3 bed, 2 bath, 2 car unit $3,305,000 Sold through Raine &amp; Horne Double Bay 
</li>
<li>
20 Rockwall Crescent,Potts Point, NSW 5 bed, 3 bath, 2 car house $3,250,000 Sold through Richardson &amp; Wrench Elizabeth Bay/Potts Point 
</li>
<li>
9 Hillside Crescent, Epping, NSW 5 bed, 4 bath, 2 car house $2,530,000 Sold through Belle Property Beecroft 
</li>
<li>
26 Ardmillan Road, Moonee Ponds, Vic 5 bed, 3 bath, 2 car house $2,440,000 Sold through Nelson Alexander Essendon 
</li>
<li>
12 Day Avenue, Kensington, NSW 5 bed, 3 bath, 2 car house $2,350,000 Sold through Ray White Kingsford 
</li>
<li>
29 Darnley Street, Gordon, NSW 5 bed, 4 bath, 2 car house $2,312,000 Sold through Ray White Turramurra 
</li>
<li>
13 Mooney Street, Lane Cove North, NSW 4 bed, 3 bath, 1 car house $2,220,000 Sold through L J Hooker Lane Cove</li>
</ol>
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Mosman $4.38 million home tops week's sales: CoreLogic RP Data

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A preliminary weighted average clearance rate of 70% was recorded this week across capital cities compared to 67.3% last week and 70.2% this time last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150216-Capital-City.jpg" rel="wp-prettyPhoto[g4273]"><img class="aligncenter size-large wp-image-4274" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150216-Capital-City-580x431.jpg" alt="National auction review - Capital City" width="580" height="431"></a>
The market performed to recent trend this week and results between now and the Labour Day long weekend should provide a clearer indication as to the state of the auction market this year.
In Sydney a preliminary clearance rate of 77.9% recorded compared to 80.6% last week and 80.2% last year. The Sydney auction market has not shown any sign of weakness following the stand out year in 2014.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150216-Sydney.jpg" rel="wp-prettyPhoto[g4273]"><img class="aligncenter size-large wp-image-4275" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150216-Sydney-580x376.jpg" alt="National auction review - Sydney" width="580" height="376"></a>
In Melbourne the auction market improved following the lowest clearance rate in 26 months last week. The preliminary clearance rate was 67.4%, compared to 60.7% last week and 69.2% this time last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150216-Melbourne.jpg" rel="wp-prettyPhoto[g4273]"><img class="aligncenter size-large wp-image-4276" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150216-Melbourne-580x378.jpg" alt="National auction review - Melbourne" width="580" height="378"></a>
In Brisbane a preliminary clearance rate of 50.6% was recorded compared to 47.6% last week.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150216-Brisbane.jpg" rel="wp-prettyPhoto[g4273]"><img class="aligncenter size-large wp-image-4277" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150216-Brisbane-580x375.jpg" alt="National auction review - Brisbane" width="580" height="375"></a>
In Adelaide a preliminary clearance rate of 72% compared to 58.2% last week.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150216-Adelaide.jpg" rel="wp-prettyPhoto[g4273]"><img class="aligncenter size-large wp-image-4278" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150216-Adelaide-580x387.jpg" alt="National auction review - Adelaide" width="580" height="387"></a>
In Canberra a clearance rate of 72.2% was recorded compared to 67.9% last week.
In Perth a clearance rate of 33.3% was recorded.
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National clearance rate of 70% recorded for the weekend: Robert Larocca

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The cheapest weekend sale at Sydney auction was $380,000 for a Merrylands apartment.
The 7/23 St. Ann Street, Merrylands flat was leased for $360 per week for the past year or so.
The vendor was moving overseas, the Century 21 listing agent Nick Papas said. It sold prior to auction to a mum and dad investor.
The first floor, two bedroom, one bathroom apartment was marketed as a property "ideal for the first home buyer or smart investor". Century 21 South West Fairfield secured the sale with Papas telling Property Observer he thought the 4.9% yield was pretty good for the market.
There was an 83% weekend clearance rate according to Australian Property Monitors.
Sydney's north west reported a perfect score at the weekend with a 100 percent clearance rate, APM senior economist Dr Andrew Wilson said.
 Next best was the neighbouring upper north shore with 92 percent, followed by the inner west with 91.4 percent and the highest sales at 53. 
The city and east recorded a clearance rate of 89.4 percent with the lower north 86 percent, the northern beaches 85 percent, Canterbury Bankstown 80 percent, the south 78.4 percent, the west 69.4 percent, the south west 67.9 percent and the central coast 50 percent. 
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Merrylands Sydney's cheapest sells on 4.9% yield

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Apartment number 18 at 85 Caroline Street in South Yarra - better known to the public as the apartment Josh and Charlotte renovated on The Block - was passed in at auction on the weekend.
<a href="https://www.domain.com.au/property/sold/apartment-unit-flat/vic/south-yarra/?adid=2011650147" target="_blank">The apartment</a>, owned by buyer advocate and upcoming Block judge Frank Valentic through his company Advantage Property Consulting on behalf of investor clients, was passed in at $390,000 and sold after auction for $445,000, according to Fairfax reports.
Valentic's company bought entire block of 18 one bedroom apartments at 85 Caroline Street – unrenovated – for $6.35 million in June last year, meaning that each apartment on average cost Valentic and his clients $352,778.
While apartment 18 is the first to sell after The Block renovations, it isn't the first to be offered to residents to live in.
Since the complex was purchased by Advantage Property Consulting (in December 2013, presumably settling in June 2014) half of the apartments have been listed to rent – some of which came with The Block makeovers, prior to the series even coming to air.
Here's how the apartments at 85 Caroline Street have paid off for investors:
<ul>
<li>2/85 Caroline Street:</li>
</ul>
The apartment renovated by Tim and Anastasia on The Block was advertised to rent on 4 December for $410 per week. It no longer appears on online rental listings, so has presumably been secured by a tenant. Taking an average price of $352,778, the apartment would yield 6.0% at $410 per week.
<ul>
<li>4/85 Caroline Street:</li>
</ul>
Advertised to rent at $380 per week in November 2014. Potential rental yield: 5.6%
<ul>
<li>6/85 Caroline Street:</li>
</ul>
Advertised to rent at $300 per week in November 2014. Potential rental yield: 5.6%
<ul>
<li>8/85 Caroline Street:</li>
</ul>
Advertised to rent at $350 per week in mid-July 2014. By the end of July, the asking rent had been adjusted to $290 per week. Potential rental yield: 4.2%
<ul>
<li>9/85 Caroline Street:</li>
</ul>
Advertised to rent at $390 per week in early December 2014. By 24 December, the asking rent had been lowered to $365 per week. Potential rental yield: 5.7%
<ul>
<li>11/85 Caroline Street:</li>
</ul>
Advertised to rent at $330 per week in November last year. Potential rental yield: 4.9%
<ul>
<li>13/85 Caroline Street:</li>
</ul>
Advertised to rent at $370 per week in October 2014. Potential rental yield: 5.4%
<ul>
<li>14/85 Caroline Street:</li>
</ul>
Advertised to rent at $360 per week in December 2014. Potential rental yield: 5.3%
<ul>
<li>17/85 Caroline Street:</li>
</ul>
The apartment made over by eliminated contestants Luke and Ebony is currently advertised to rent at <a href="https://www.domain.com.au/property/for-rent/apartment-unit-flat/vic/south-yarra/?adid=9563511" target="_blank">$400 per week on Domain</a>, though listed at<a href="https://www.realestate.com.au/property-apartment-vic-south+yarra-415048003" target="_blank"> $395 per week on realestate.com.au</a>. At $395 per week, it would yield 5.8%.
<ul>
<li>18/85 Caroline Street:</li>
</ul>
The apartment renovated by remaining contestants Josh and Charlotte. Passed in at auction and sold after auction for $445,000 - a gain of $92,222 or 26%, before taking into account renovation costs.
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