Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

Auctions

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Jockey Hugh Bowman, who returned to Sydney from Melbourne with two group 1 Flemington spring carnival wins, couldn't secure the weekend sale of his Queens Park home.
It was listed with $1.75 million-plus hopes and passed in on a $1.78 million bid through McGrath agent Mark McPherson who sold it to Bowman when he was at NG Farah.
It is now <a href="https://www.mcgrath.com.au/buy/house-queens-park-nsw-2022/245573/?searchID=45299161" target="_blank">priced at $1.86 million</a>.
Bowman and wife Christine need to trade up from the 1890s Denison Street home as their daughter, Bambi is nearly one year old.
It cost $1.25 million back in 2006.
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jchancellor-FAypfDUnLy

Jockey Hugh Bowman's Queens Park home passed in

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There was a $4.5 million vendor bid when the Georgian-era Paddington residence, Menzies House went to weekend auction.
It was redesigned in the late 1990s by Allen Jack+Cottier commissioned by Mary and Paul Menzies, after they bought it and the adjoining lot in 1994.
The Underwood Street five-bedroom property (pictured above) is set over 700 square metres.
It was auctioned through <a href="https://www.mcgrath.com.au/buy/house-paddington-nsw-2021/245424/?searchID=45314349" target="_blank">McGrath agent Ben Collier</a>.
A $4.31 million Clovelly sale was the weekend's highest reported sale.
The cheapest auction was a two bedroom unit at <a href="https://www.realestateview.com.au/Real-Estate/9-55-59-goulburn-street-liverpool/Property-Details-buy-residential-7883858" target="_blank">9/55-59 Goulburn St, Liverpool</a> selling for $278,000 to the one registered investor. It last sold 30 years ago for $34,000 in 1984, so reflected 7% annual price growth through Pat Bugge, the LJ Hooker Liverpool selling agent. 
Sydney's initial clearance rate was 70.5% – its weakest in 18 months. The revised figure now hovers in the high 60s.
Sydney’s central coast reported the highest clearance regional rate at the weekend with 81.3% with the south-west the next best with 81.1%.
The inner west sat at 73.4%. The north-west's 59.2% was the weakest region.
Auction buyer numbers at auction have been mixed with some properties having in excess of 12 registered bidders, however the average buyer number per property was at five buyers which is down one buyer from the same period last month and November/December 2013, according to Rocky Bartolotto from Auction Services.
"December auction volumes continued to increase with bookings last week coming in," he noted.
"Many vendors/agents are comfortable running a shorter two week auction campaign compared to the usual four weeks with some properties having their initial open house over the weekend with the auction scheduled for 20 December," said Bartolotto.
Andrew Wilson, the senior economist at the Domain Group, said the weakening stemmed from the "unrelenting tidal wave of record end of year auction listings".
"The 70.5% result is the fourth consecutive weekend below 75% for the first time since 15 December, 2012 and its lowest full weekend clearance rate since 6 March 2013."
Sydney broke the record for summer weekend auctions on Saturday with 1,028 homes going under the hammer. This followed last weekend’s spring record of 1,058.
"It was also the first time Sydney has hosted back to back 1,000 auction weekends," Wilson added.
"The market will reach an astonishing end of year crescendo next weekend with yet another Saturday of record-level 1,000 plus auction activity set to test the fast fading Sydney market.
"The current Sydney four-weekend average clearance rate now stands at 73.2% which is well down on the 79.5% average recorded over the previous four-weekend period."
Sydney broke the record for summer weekend auctions on Saturday with 1,028 homes going under the hammer. This followed last weekend’s spring record of 1,058 and was the third highest auction weekend on record. It was also the first time Sydney has hosted back to back 1,000 auction weekends.
The market will reach an astonishing end of year crescendo next weekend with yet another Saturday of record-level 1,000 plus auction activity set to test the fast fading Sydney market.
The current Sydney four-weekend average clearance rate now stands at 73.2% which is well down on the 79.5% average recorded over the previous four-weekend period.
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Menzies House, Paddington fails to sell amid weakest weekend result for 18 months

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Graham Arthur, the footballer who captained Hawthorn to its first premiership in 1961, knocked back $980,000 when his Balwyn North property went to weekend auction.
But it sold straight after for $1.1 million.
Graham Arthur's four-bedroom house is at <a href="https://www.realestateview.com.au/Real-Estate/41-helston-street-balwyn-north/Property-Details-sold-residential-7900404">41 Helston Street</a> (pictured above).
The house, which is in the Balwyn High School zone, was offered through Fletchers agents Jason Salan and Daniel Rasile. 
They had initially hoped for more than $1.2 million for the elevated brick house which had an updated kitchen and bathroom.
It last traded in 1987 for $146,000.
Domain Group APM reported Melbourne's weekend clearance rate sat at an initial 70.1%.
<div>"The Melbourne weekend auction market reported an improved clearance rate at the weekend despite hosting the highest number of auctions ever conducted on a December summer Saturday," the Domain Group's senior economist Andrew Wilson said.</div>
The Melbourne result was a modest improvement on the previous two weekends when rates fell below 70% on consecutive weekends for the first time since July 2013.
The 1,456 homes listed for auction was close to the all-time Saturday record of 1,558 set on the pre-Melbourne Cup holiday weekend of 25 October this year.
"Melbourne has now hosted over 1,000 auctions each Saturday over the past four weekends for the first time in its history with buyers increasingly spoiled for choice," said Wilson.
"And next weekend the market will end the year with a bang with another big day of auctions with over 1,300 homes set to go under the hammer.
<div>
"The pre-Xmas Saturday on 20 December may even host up to 500 auctions as the last chance for a result for sellers in 2014."
</div>
Melbourne’s four-weekend average clearance rate remains below 70% and at 69.1% is well down on the previous four weekend average result of 75.9%.
Melbourne’s north east suburban region reported the best result at the weekend with an auction clearance rate of 76.7%. The outer east was the next highest at 74% followed by the inner south 72.2% with the highest sales at 135, the inner city 70.3%, the inner east 69.9%, the west 66.1%, the north 65.8% and the south east with a clearance rate of 60.0%. 
 
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Modest clearance rate improvement as Hawks captain Graham Arthur's Balwyn North home sells post-auction

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The vintage car collector Paul Vellacott sold his Albert Park house with a historic rear stables for $3.45 million to a US-based expatriate at weekend auction.
The stables, which Vellacott had for 40 years as his garage and showroom, has signatures of motoring greats on the walls in black spray paint.
Winners of 12 Formula One world championships, including Juan Manuel Fangio, Jack Brabham, Jackie Stewart and Alan Jones have signed the walls, along with signatures of other famous motoring identities including Tony Gaze (the first Australian Grand Prix driver), Stirling Moss, Gigi Villoresi, Piero Taruffi and Sandro Munari.
Vellacott bought <a href="https://www.realestateview.com.au/Real-Estate/380-montague-street-albert-park/Property-Details-buy-residential-7908540" target="_blank">380 Montague Street</a> from Morris Bros Dairy in the mid-1970s. South Melbourne - A History by Susan Priestly and published by Melbourne University Press in 1995, wrote the firm of Morris Brothers were the pre-eminent inner-city milk distributors, having begun the partnership of James, Robert and William about 1893, with their main depots in Montague Street, Albert Park and Bay Street, Port Melbourne.
Port Phillip heritage records suggest the 3-19 Little O-Grady Street, Albert Park terraces were "supposedly built to house workers for the urban dairy. The cottage at 1A Little O’Grady Street was originally a manager’s residence for the dairy. 
Set over 302 square metres, the weekend offering came with a three-bedroom cottage and eight car brick garage stable. 
It was sold through Greg Hocking Holdsworth agents Greg Hocking and Warwick Gardiner.
Earlier this year the agency sold the former 1896 bakery at 1a College Place, Albert Park for $3,705,000.
<a href="https://www.realestate.com.au/property-house-vic-albert+park-116896327" target="_blank">Warwick Gardiner, of Greg Hocking Holdsworth, had the listing</a> which traded at $860,000 in 1998.
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Former Albert Park dairy stables sell for $3.45 million

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High volumes continue in the Sydney weekend auction market.
This Saturday 992 auctions are scheduled which is just below the 995 December Saturday record set last year on 14 December.
Sydney will also host around 1,000 auctions next weekend when the December auctions record clearly will be broken, according to Australian Property Monitors.
The upper north shore will again host the most number of auctions this weekend with 146 closely followed by the inner west with 144, the south 145, the city and east 129, the lower north 99, the west 88, Canterbury Bankstown 65 and the northern beaches with 57 auctions scheduled.
The most popular suburb for auctions this weekend in Sydney is Mosman on the lower north shore with 20, followed by Carlingford in the north west and Eastwood on the upper north shore each with 12, Hurstville in the south with 11, Drummoyne in the inner west with 10 and a number of suburbs with 9 auctions scheduled including St Ives on the upper north shore, Blacktown in the west and Castle Hill in the north west.
"Sydney’s weekend auction market has tracked backwards over the past month with falling clearance rates reflecting supply catching up with demand," APM senior economist Andrew Wilson said.
"The past three weekends have recorded consecutive clearance rates below 75% for the first time since March 2013," he noted.
Sydney commenced the spring selling season this year with nine consecutive clearance rates above 80%. 
"The current four-weekend average clearance rate has fallen below 75% to 74.5% which is well down on the 80.4% average recorded over the previous four-weekend period," he said.
Last weekend Sydney broke the record for the most number of homes auctioned on a Spring Saturday with 1058 listings, just below the all-time Saturday auction record of 1,111 set on the pre-Easter Saturday earlier this year.
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Busiest December ever for Sydney auctions

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There are 1,432 homes going under the hammer across Melbourne this weekend, according to Australian Property Monitors (APM).
It ranks as the highest ever conducted on a December Saturday.
It also ranks as the second highest number of weekend auctions conducted this year 
APM noted there were 1,325 properties listed for auction last weekend, the last Saturday of spring. There were the 1,341 at the same time last year.
The inner city will have the most auctions this weekend with 236 closely followed by the inner south with 233, the west with 207, the outer east with 196, the inner east with 188, the north-east with 183, the north with 102 and the south-east with 84.
The most popular suburbs for auction listings this weekend in metro Melbourne are Richmond and Mount Waverley each with 24 followed by St Kilda with 22, Glen Waverley and Port Melbourne each with 21 and Reservoir, Brighton East and South Yarra with 18 auctions this weekend.
The weekend auction market reported another subdued clearance rate at the weekend with clear indications emerging of a sustained fall in buyer activity over late spring.
The weekend's preliminary result of 67.2% was almost identical to last weekend's year-low result of 67.1%.
APM's Andrew Wilson said the four-weekend average clearance rate had now fallen to 69.5% is well down on the previous four weekend average result of 76.4%. 
Melbourne has now recorded consecutive clearance rates below 70% for the first time since July 2013.
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Record December Saturday offerings for deteriorating Melbourne auction scene

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When you head to an auction, if you aren’t the top bidder you are, by definition, the ‘underbidder’.
Usually reserved as a term just for the second-highest bidder, the under bidder usually misses out on purchasing the property. It can also refer to all of those who bid below the highest bidder on the day.
Negotiating immediately after auction, if the property is passed in, usually goes straight to the highest bidder first.
It is good practice for a real estate agent to keep the underbidder, and often other bidders, around at the time of these negotiations in case the highest bidder doesn’t end up purchasing the home.
However, being the underbidder isn’t always a bad thing. Any bidder can potentially end up the underbidder on the day – remember, it’s better to be the underbidder than to be the bidder who overpays. Underbidders are those that have ‘tapped out’ when it has gone beyond what they are prepared to pay.
When you don’t want to be the underbidder is when you would have happily paid more for the home, but lack of confidence or a range of other factors came into play impacting your performance at the auction. Sometimes your rival bidder will have more money than you, but this isn’t always the case. <a href="/expert-insights/investing/winning-at-auction-isnt-amount-having-the-most-money-its-about-strategy">James Buyer Advocates’ Kristen Hatt shared a situation</a> with Property Observer earlier this year where the underbidder spent more, later on, for a very similar property.
If you do set out to win, and you don’t want to be the underbidder, then you need to think strategy. Effectively, underbidders and the highest bidder set the pace at the auction and together will drive the price up.
YOU MAY ALSO WANT TO READ
<a href="/expert-insights/buying/six-tips-for-keeping-a-cool-head-at-auction">Six tips for keeping a cool head at auction</a>
<a href="/expert-insights/buying/twelve-tips-for-bidding-at-property-auctions">Twelve tips for bidding at auction</a>
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What is an 'underbidder'? Property investment terms explained

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The residential property market differs from suburb to suburb in many different ways.
Some suburbs are tightly held, some are in high demand from buyers and in others, sellers are seeking to capitalise on improved local conditions.
It is in these suburbs that CoreLogic RP Data has recorded a substantial increase in the number of houses listed for sale compared to a year ago.
In undertaking this analysis only those suburbs within a 30 kilometres of the CBD have been considered as outside of this, development suburbs become more prevalent and that affects the outcome. In those suburbs the high rate of listings is a factor of developers’ centralised decision-making as opposed to the individual decisions of 100’s of owners.
The suburb where owners have been seemingly queuing up to sell is <a href="/news">Doncaster</a>.
Compared to a year ago there has been a 41% rise in listings. Over the same time the median sale price has grown by 15.5%, well in excess of the citywide 9.7%. This suggests that sellers have been motivated by high buyer demand.
Second on the list is <a href="/news">Heidelberg Heights</a> with a 33.3% rise in listings. Not unlike Doncaster, sellers have been rewarded for their decision with the median sale price rising by 14%.
Third on the list is <a href="/news">Burwood East </a>where those seeking to sell have increased by 30.9%. It is followed by <a href="/news">Sunshine</a>, <a href="/news">Forest Hill</a>, <a href="/news">Preston</a>, <a href="/news">Parkdale</a>, <a href="/news">Vermont South</a>, <a href="/news">Glen Iris</a> and <a href="/news">Altona North</a>.
The common factor in each case is an above average rise in the median selling price. Now of course there are exceptions to this, for instance <a href="/news">Bayswater</a> has seen a 17% fall in listings and 11.5% rise in the median selling price but the in the majority of circumstances strong local markets encourage owners to sell.
There are 1,570 auctions scheduled this week in Melbourne compared to 1,535 for the same time last year. The highest volume of auctions will be found in <a href="/news">Mount Waverley</a> where there are 26 expected.
The November CoreLogic RP Data November Home Value Index showed that house values fell by 2.8% and unit values fell by 1.5%.
The market in Melbourne clearly slowed in November as volumes rose and the clearance rate dropped resulting in a reduction in property values.
Over the year the Melbourne property market has showed healthy growth. With one month left in 2014 house values have risen by 6.5% and units by 1.6%. Viewed in conjunction with what has been a small rise in transactions compared to last year these results show a moderate and not booming market.
The clearance rate for November was 66.8% and there were 5,722 auctions held with 3,819 selling. This is lower than the 68.2% recorded last year
Volumes look set to remain high until the end of the year and this will be welcomed by buyers, especially as the clearance rate has been edging lower.
On a citywide basis, the time on market results for houses sold at private sale rose from 31 to 32 days over the last week and vendor discounting eased slightly to -4.9%.
Key data
<ul>
<li>Clearance rate week ending 30 November: 63%</li>
<li>Melbourne auctions expected week ending 7 December:  1,570</li>
<li>Melbourne private sales time on market week ending 30 November: 32 days (houses)</li>
<li>Melbourne vendor discounting market week ending 30 November: -4.9% (houses)</li>
<li>Listings being prepared for market are 0.5% higher in month ending 30 November (seasonally adjusted)</li>
</ul>
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The suburbs where owners are queuing to sell: Melbourne weekend auction preview

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Harry Li, director of the McDonald Real Estate’s Springvale office in Victoria was REIV’s winner of the award for senior auctioneer of the year in 2014 and a finalist in the Australia and New Zealand auctioneering event held recently in New Zealand. 
He spoke to Zoe Fielding about what it takes to be a top auctioneer.
Harry Li (pictured above) started out as a real estate rookie in Victoria about a decade ago.
After four years in property sales, Li – now a director of McDonald Real Estate Springvale – turned his sights towards auctioneering.
“I felt that was a natural progression,” he says. “At the time the company did not have a full time auctioneer so I thought I would do the training.”
Basic auctioneer training teaches the foundations needed to run an auction sales campaign and the technical skills to call an auction.
Some auctioneers simply do the basics but Li goes much further. Over the years he has taken one-on-one training from other auctioneers, and sought guidance and tips from people with more experience. But the most important element of Li’s skills development is practice.
“Time is what it takes,” Li says. “I practice with a partner four times a week. It’s like going to the gym. If you want to build your muscles you have to train regularly.”
The pair conduct mock auctions on a weekly basis whereas Li says many auctioneers only train once a week or only practice their craft when they conduct auctions on a Saturday.
It’s the details that make a good auctioneer stand out from the crowd, Li says.
In addition to the technical skills, such as knowing the rules, keeping track of the numbers, and using the right type of language, an auctioneer’s general persona is important. The auctioneer must be likeable and “real”.
“You don’t have to be an aggressive person. Some people are more passive and that’s OK but you have to be able to read the play of the auction. You have to be flexible enough to handle the scenarios that come up,” Li says.
An auctioneer must know when to take large or small bids and how far to push the bidders.
The auctioneer’s performance can have a major effect on how much more a property sells for, regardless of whether it is snapped up under the hammer or passes in and sells during later negotiations.
“If the auctioneer gets on the wrong side of a buyer it can cost the seller a lot,” Li says. “It’s an art form and that plays a part when it comes to the final result.”
Li’s hard work has paid off. He was winner of the Real Estate Institute of Victoria’s award for senior auctioneer of the year in October and was a finalist in the Real Estate Institute of Australia’s auctioneering competition held in New Zealand.
Unsurprisingly, he is a big advocate of auctions, although he says they are not appropriate in all markets or for all homes. In a slow market, or when buyers have access to a large amount of accurate data about the property’s value, which might be the case for identical units in a large block for example, an auction may not be the best option.
“If it’s a highly competitive area and there’s good demand for properties an auction is the way to go,” Li says.
Competitive bidding can boost the price that the property achieves, pushing buyers to spend the maximum amount they can, or risk losing the auction to another more committed bidder.
Auctions also create a sense of urgency among buyers with auction day acting as a deadline by which they must make a decision on the property. In a private treaty sale, the process may be more drawn out.
The seller in an auction is protected by the reserve price, which means the property will not sell unless the pre-agreed level is reached.
After the hammer falls, the sale is final and unconditional. This allows the vendor to set specific sale terms, such as the settlement date, and prevents a buyer from backing out after the deal has been agreed. This is typically a benefit to sellers but it can limit the number of potential buyers as some people wish to purchase subject to finance, which is not an option with an auction.
Another potential downside of an auction is that engaging a specialist auctioneer comes with an additional cost, but if the campaign and auction are run well, the extra cost may be recouped through a higher sales price.
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Agent profile: Harry Li - what it takes to be a top auctioneer

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A waterfront Putney house topped last week's sales, according to CoreLogic RP Data.
The four bedroom, three bathroom full brick home with a saltwater pool sold for $4.25 million.
It was one of five New South Wales homes to make this week's top 10 list, which included one West Australian home, one Queensland house and three Victorians.
The top 10 sales for the week ending Sunday 30 November 2014
<a href="https://www.realestate.com.au/property-house-nsw-putney-118531819" target="_blank"><img src="/images/2014/07/04/yellow-one.jpg" alt="" style="float: left;">34 McGowan Street, Putney, NSW</a>
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The Putney house sold through McGrath Estate Agents. It has an absolute waterfront position, situated on a long 1,131 square metre plot running from McGowan Street to Morrison Bay.
The house includes split level living spaces, a games room and a wet bar which opens onto the outdoor pool area at the home's rear. Each of the four bedrooms has its own balcony and water views.
The vendors paid $2.55 million for the home in 2006.
<a href="https://www.realestateview.com.au/Real-Estate/74-johnston-street-mosman-park/Property-Details-buy-residential-7851170" target="_blank"><img src="/images/2014/07/04/yellow-two.jpg" alt="" style="float: left;">74 Johnston Street, Mosman Park, WA</a>
<img src="/images/2014/12/02/2.jpg" alt=""> 
The only West Australian home to make it to this week's top 10 sales list was Norris Ville in Mosman park. Sold through Shellabear's Cottesloe, the house secured $4 million at auction.
The same family has owned the 1,043 square metre plot Norris Ville sits on since the 1800s, when it was part of a dairy farm. A home was built on the north-facing site, two houses from the banks of the Swan River, in 1953.
The house has four bedrooms and one bathroom.
<a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/properties/360131" target="_blank"><img src="/images/2014/07/04/yellow-three.jpg" alt="" style="float: left;">5 Regatta Way, Cabarita, NSW</a>
<img src="/images/2014/12/02/3.jpg" alt=""> 
This four bedroom, two bathroom home sold for $3.8 million through Raine &amp; Horne Montano.
Part of the Edgewood on Cabarita Shores complex, the north east facing home is situated on the waterfront. Residents have access to the complex's pool and gymnasium. There are Italian marble floors throughout the living and dining areas.
The sellers purchased the house for $2.13 million in 2010.
<a href="https://www.realestateview.com.au/Real-Estate/birdwood-avenue-brighton/Property-Details-sold-residential-7801900" target="_blank"><img src="/images/2014/07/04/yellow-four.jpg" alt="" style="float: left;">20 Birdwood Avenue, Brighton, Vic</a>
<img src="/images/2014/12/02/brighton-dec-2-one.jpg" alt="">
A modest brick home – on an 811 square metre north facing plot – sold for $3.2 million through Nick Johnstone Real Estate Brighton.
According to the listing information, the site is "ideal land to build a luxury home or two townhouses". The house currently returns $52,000 a year, reflecting a yield of 1.6%.
<a href="https://www.realestate.com.au/property-house-nsw-hunters+hill-118379075" target="_blank"><img src="/images/2014/07/04/yellow-five.jpg" alt="" style="float: left;">44 Woolwich Road, Hunters Hill, NSW</a>
<img src="/images/2014/12/02/5.jpg" alt="">
This 1930s home sold for $3.15 million through Ward Partners Hunters Hill.
The four bedroom, three bathroom house on 999 square metres has rear views of Lane Cove River. It includes a formal sitting room with a bay window seat, a formal dining room, and a sunroom with French windows. There is also a home office and an under-house cellar.
Article continues on the next page. Please click below.
<a href="https://www.realestate.com.au/property-house-nsw-bellevue+hill-118320891" target="_blank"></a>
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<a href="https://www.realestate.com.au/property-house-nsw-bellevue+hill-118320891" target="_blank"><img src="/images/2014/07/04/yellow-six.jpg" alt="" style="float: left;">10a Latimer Road, Bellevue Hill, NSW</a>
<img src="/images/2014/12/02/6.jpg" alt="">
A three bedroom house secured $3.08 million through BradfieldCleary Double Bay last week. The deceased estate sale was the first time the home had been sold in 34 years.
The 708 square metre site has a rear north easterly aspect.
<a href="https://www.realestateview.com.au/Real-Estate/black-street-brighton/Property-Details-sold-residential-7891100" target="_blank"><img src="/images/2014/07/04/yellow-seven.jpg" alt="" style="float: left;">68 Black Street, Brighton, Vic</a>
<img src="/images/2014/12/02/7.jpg" alt="">
The second Brighton house to make this week's top 10 sold for $2.96 million through Nick Johnstone Real Estate Brighton.
The five bedroom, two bathroom house has a "French inspired" design, with timber parquetry, front facing balconies and a foyer. On the lower level, there are both formal and informal open plan living and dining spaces, while the five bedrooms sit upstairs.
The owners purchased the property 10 years ago, for $1.68 million.
<a href="https://www.realestate.com.au/property-house-nsw-hunters+hill-118323439" target="_blank"><img src="/images/2014/07/04/yellow-eight.jpg" alt="" style="float: left;">15 Madeline Street, Hunters Hill, NSW</a>
 <img src="/images/2014/12/02/8.jpg" alt="">
Buyers paid $2.96 million for this renovated Hunters Hill Cottage, sold through BresicWhitney Hunters Hill.
The sandstone cottage on 711 square metres has four bedrooms and two bathrooms. The open plan living and dining area open through concertina doors to the outdoor dining area.
<a href="https://www.realestateview.com.au/Real-Estate/21-katoomba-avenue-hawthorne/Property-Details-buy-residential-7849682" target="_blank"><img src="/images/2014/07/04/yellow-nine.jpg" alt="" style="float: left;">21 Katoomba Avenue, Hawthorne, Qld</a>
<img src="/images/2014/12/02/9.jpg" alt="">
This six bedroom, six bathroom Hawthorne house sold for $2.93 million last week. Ray White East Brisbane took the curious step of advising buyers that "over committed vendors must liquidate their stunning home" ahead of its Saturday auction.
The 717 square metre house on a 1,215 square metre plot has multiple internal living spaces, including a home theatre, open plan living and dining area, a library and a sitting room with a wet bar. Outside, there is a 96 square metre living area with a fireplace and outdoor kitchen.
The home's "over committed vendors" paid $1.2 million for the property seven years ago.
<a href="https://www.realestate.com.au/property-house-vic-hawthorn-118040143" target="_blank"><img src="/images/2014/07/04/yellow-ten.jpg" alt="" style="float: left;">15a Hawthorn Glen, Hawthorn, Vic</a>
<img src="/images/2014/12/02/10.jpg" alt=""> A four bedroom house secured $2,855,000 through Bekdon Richards Hawthorn.
The double storey home sits off Glenferrie road, on Hawthorn's Scotch Hill, near Scotch College.
On the top level, there are four bedrooms, including the master bedroom with walk in robe and spa en suite. There is a "grand entrance hall" downstairs, along with formal and informal living and dining areas. The house also contains a five car garage and workshop, a gymnasium and a music studio or cellar.
The sellers paid $2.3 million for the home three years ago.
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