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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A new survey has revealed that not only are 62% of home buyers heading into an auction without a strategy, and 48% are not as prepared as they could be, but that 51% are experiencing anxiety about the auction process.
The research from St.George Bank points to 48% saying that auctions have a negative impact on their sleep patterns.
The most difficult house hunting and buying processes were noted as being making an offer or bidding at auctions, evaluating which properties provide good value and choosing the suburb in which to buy, with 46%, 44% and 44% respectively noting these options. A total of 57% further said that they would find it easier if property comparisons were simpler.
More than half have missed out on a property they wanted due to the heat of competition.
However, the majority felt confident when knowing what to look for at a property inspection and organising building and strata inspections.
St.George’s general manager retail banking Andy Fell said that they have created a new online hub called HomeHero to assist customers, in conjunction with Bank of Melbourne and BankSA. The resource includes step by step guides and information.
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jduke-EHk3XBmHkn

Half of property buyers anxious, losing sleep over auction process

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GUEST OBSERVATION
A home will be sold to the highest bidder, simple as that. But there are ways you can tactically prepare to be at the end with the last bid. 
As a prospective buyer, you will see a lot of places before you find 'The One' but even after you find what may be the perfect place for you, you need to put together a strategy to ensure you are successful on auction day, or at least give yourself the best chance of succeeding.
An auction can be a very nerve racking thing, and not having a strategy can result in you just missing out on your dream home, or even overpaying drastically for a home, that whilst you wanted it, has been sold to you for a price that is way out of your budget. 
To avoid that happening you can put in some very simple strategies to make sure you stick to budget and follow a plan when the emotion kicks in. Here's how. 
<ol>
<li>
Establish what is most essential It's really easy on auction day to get caught up in some things about a property that aren't specifically catered to what you want. Before you go to any auction, have some certainties about how many bedrooms you want, bathrooms, parking spots, etc. Once you have these fundamentals sorted that should match to the figure you want to spend. If the property has some further benefits but starts to go out of your price range, try and pull back. You didn't come to the home because of it's sauna, or jacuzzi, and trying to justify an extra $50,000 or $100,000 for features that you didn't say were essential can cause you to regret your purchase. Make sure you only focus on the essentials and don't spend more for things you don't require.  
</li>
<li>
Practice, Research, Practise, Research When you have decided on a property that may be for you, you will likely have a few weeks before the auction. This can give you time to go and watch similar homes up for sale around the area. Whilst they may not be exactly the same, try and go along and see how your bidding strategy would go on the day in that circumstance. Also notice how other people bid, and both take a note on how you would respond if they acted like that on the day of the auction you want to buy, also try and envisage how your bidding strategy would go on the day. Because you aren't emotionally attached, focus on dropping out when your budget has gone. This will help you on the day to know when to pull the pin if it has gone over budget. 
</li>
<li>
Engage two agents There are two agents you should have on side come auction day. The first is the selling agent, who should know your interest by engaging with them through the campaign. Explain your budget to them and why you are interested, once they understand why you are buying it and the needs you have, they will know how to keep you engaged on the day. Secondly, you should engage an agent that isn't involved in that selling process. Try and find a friend that works in the industry, explain your motivations for buying the home and what you want, also see how they suggest you act. You can also call a competing agent, explain that you are interested and ask them for an honest valuation. They will be likely to help you because they will want to engage active buyers, and if you don't buy that property, you may be interested in one of theirs. 
</li>
<li>
Dress to impress "Dressing to impress can create the impression that you have an endless budget and can intimidate others so they stop bidding earlier," says Frank Valentic, a buyer's agent and director of Advantage Property Consulting. Something as simple as appearance can knock people's confidence right out of the park. Turning up to the auction in a nice suit can make people wonder if you are bidding for yourself, or for someone else. This can play on their mind and sometimes make them relent because they don't feel they stand a chance. People will respect you purely based on your appearance, so it's something to keep in mind.  
</li>
<li>
Bid with supreme confidence Part of an auction is guesswork. How much money does the other person have and should I stop because I don't stand a chance. A lot of people will be keen to keep bidding if they feel you are on your last bid, or every bid is a tough decision to make because you are close to your max. They will want to break you over your budget. On the other hand, if you bid supremely confident up until your max, you may have them second guessing their chance to buy the home, as your pockets will seem much deeper than they really are. If you are bidding for a home valued at $700,000 - $850,000 and you're happy to spend $850,000 when the bidding is at $720,000 go for a bid that gets it to $750,000 - this is really only maybe one or two bids advanced from where the auction is currently at, and the agent will most likely take $10,000 rises, but by placing that bid, you show the competition you are serious and could psyche them out from bidding further. You need to approach this with confidence and determination you will win the home. 
</li>
</ol>
These tips will help you approach your day at auction. By putting this in to place, you give yourself the chance to succeed. And if you don't win the home on the day, don't be despondent.
Be proud of yourself that you stuck to your strategy and really persisted, and have confidence in the fact that the right thing will come up for you soon. 
ROCKY BARTOLOTTO is the national sales director for <a href="https://homely.com.au/" target="_blank" data-cke-saved-href="https://homely.com.au/">Homely.com.au</a> and a Sydney auctioneers, with over 4000 auctions performed through his business <a href="https://auctionservices.net.au/" target="_blank">Auction Services</a>.
TODD SCHULBERG handles all things marketing for <a href="https://homely.com.au/" target="_blank">Homely.com.au</a>.
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po-LsXgBTHBmX

Five tactics that give you the best chance of winning on auction day

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There were three bidders when 37/89-91 Hughes Street, Cabramatta went to weekend auction.
The first floor recently renovated 61 square metre two bedroom apartment fetched $351,000.
The 1974 built apartment was marketed as an entry level perfect home for first home buyers or an ideal investment with potential rent of $320 per week.
<a href="https://www.domain.com.au/property/for-sale/apartment-unit-flat/nsw/cabramatta/?adid=2011571207" target="_blank">Peter Ly of Raine &amp; Horne Cabramatta</a> told Property Observer it sold to an investor. 
It last sold in 1998 at $66,000, reflecting 10% annual growth over the 16 years.
 <img src="/images/2014/12/02/cabramatta-dec-2-two.jpg" alt="">
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jchancellor-FAypfDUnLy

10% annual growth as Cabramatta unit sells as $351,000 weekend cheapie

<html><body>
A preliminary weighted average clearance rate of 66.6% was recorded this week across capital cities compared to 65.7% last week and 66.9% this time last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141201-Capital-City.jpg" rel="wp-prettyPhoto[g4065]"><img class="aligncenter size-large wp-image-4066" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141201-Capital-City-580x429.jpg" alt="CoreLogic RP Data auction comments | Capital City" width="580" height="429"></a>
Conditions for buyers at auction are improving as we get closer to Christmas with volumes remaining at historical highs and demand easing, particularly in Melbourne.
In Sydney auction volumes are very high and the number of active buyers seem to be rising in line with supply. A preliminary clearance rate of 75.2% recorded compared to 71.8% last week and 72.7% last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141201-Sydney.jpg" rel="wp-prettyPhoto[g4065]"><img class="aligncenter size-large wp-image-4067" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141201-Sydney-580x393.jpg" alt="CoreLogic RP Data auction comments | Sydney" width="580" height="393"></a>
In Melbourne a preliminary clearance rate of 63.7% was recorded compared to 66.1% last week and 67.9% this time last year. The state election has had no impact on results that are on trend with the mild easing in demand seen over November.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141201-Melbourne.jpg" rel="wp-prettyPhoto[g4065]"><img class="aligncenter size-large wp-image-4068" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141201-Melbourne-580x381.jpg" alt="CoreLogic RP Data auction comments | Melbourne" width="580" height="381"></a>
In Brisbane a preliminary clearance rate of 45.9% was recorded compared to 43.3% last week.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141201-Brisbane.jpg" rel="wp-prettyPhoto[g4065]"><img class="aligncenter size-large wp-image-4069" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141201-Brisbane-580x391.jpg" alt="CoreLogic RP Data auction comments | Brisbane" width="580" height="391"></a>
Adelaide recorded an above trend clearance rate of 66.7% compared to 61.2% last week.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141201-Adelaide.jpg" rel="wp-prettyPhoto[g4065]"><img class="aligncenter size-large wp-image-4070" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141201-Adelaide-580x382.jpg" alt="CoreLogic RP Data auction comments | Adelaide" width="580" height="382"></a>
In Canberra a clearance rate of 63.3% was recorded.
In Perth a clearance rate of 21.7% was recorded.
In Tasmania 8 auction sales were recorded and no homes were passed in.
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Conditions for buyers at auction improving: National weekend auction wrap

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Queensland’s new real estate laws are now in place, despite much pushback from property industry members across the country.
The Queensland Property Occupations Act, passed through Parliament in May, will bring many changes to the property scene in Queensland. Most notably, price guides for properties going to auction are now outlawed.
Not only were the <a href="https://www.pertyobserver.com.au/finding/location/nsw/29164-reis-go-head-to-head-over-queensland-auction-price-guide-debate" target="_blank">Real Estate Institutes head-to-head over the issue</a>, but estate agent <a href="/news/qld/dark-ages-descending-on-queensland-as-auction-price-guide-ban-defies-common-sense-john-mcgrath">John McGrath called it “dark days” for the industry</a>.
Harcourts Queensland chief auctioneer Mitch Peereboom doesn’t expect any great changes to his role.
“The price guide obviously is the biggest issue, but ultimately in my role the impact of the price guide will be minimal because auction’s about having no price and the buyers determining the market place,” said Peereboom.
“The seller gets the transparency and determination from the buyers and the buyers get transparency as they are able to come forth with their best offer of what they believe the property is worth without any inhibiting from the seller in terms of what they are looking for.”
In fact, he notes that more buyers will inspect because there is no market price.
The Real Estate Institute of Queensland’s CEO Antonia Mercorella said that the rules are about cutting red tape, simplifying transactions and increasing transparency. The REIQ has been supportive of the laws.
“It’s been a long time coming, but it’s been worth the wait for these new laws,” Mercorella said.
“They’re specifically tailored to the realities of the modern real estate profession and will make life much easier for agents and consumers. The laws eliminate a lot of costly paperwork that’s been hampering agents and they feature practical reforms which will simplify real estate transactions in Queensland.”
She pointed to other key changes including the replacement of seven separate agent appointment forms with one, removing requirement for the agents to disclose to a buyer the commission they are receiving from the seller, extending the statutory limit on lengths of appointments for a sole exclusive agency from 60 days to 90 days, deregulating maximum commissions for sales and property management, and losing the requirement for a separate Form 30 Warning Statement.
<a href="/news/bid-for-homes-online-on-new-property-listings-website">Online auctioning platform ExchangeHouse</a> has also called the new laws beneficial for the industry, with director Mark Jamieson saying that the government "clearly" wants to limit subjective and opinionated price guides and information that could mislead.
"It is possible for real estate agents to provide objective, meaningful and accurate information to buyers, within the new act’s guidelines. It is all about the auction process and framework," said Jamieson.
“Our innovative online auction methodology requires the vendor to set a reserve price for their property upfront. The reserve is never disclosed to the market and is used to determine where bidding will start which is a first for the industry. Agents no longer need to provide a price guide under the ExchangeHouse method. Buyers can confidently inspect properties knowing where bidding is due to start well before bidding opens," he said.
“This method will bring greater transparency and efficiency around the property transaction process for agents, sellers and buyers. We believe it works within the new legislation and achieves the government’s goals of reducing red tape and misguided information.”
Other industry experts notably speaking out against the ban include News Corp commentator <a href="/news/qld/queenslands-auction-price-guidance-ban-legislation-is-madness-andrew-winter">Andrew Winter (who has called it 'madness’)</a>, the <a href="/expert-insights/buying/coercion-will-be-rife-under-new-queensland-price-guide-laws-rebaa">Real Estate Buyer's Association of Australia</a> and <a href="/expert-insights/investing/reinsws-malcolm-gunning-supports-early-publishing-of-reserve-prices">REINSW' Malcolm Gunning</a>.
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Price guide ban now in place for Queensland auctions

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The terrace house at 53 Wells Street, Redfern - double-fronted terrace on 200 square metres - sold at weekend auction for $1.18 million.
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The deceased estate sold through <a href="https://www.mcgrath.com.au/buy/house-redfern-nsw-2016/235841/?searchID=45087408" target="_blank">Ben Forsyth of McGrath Edgecliff</a> who had issued 13 contracts.
It was formerly an artist’s home, but left empty for five years. 
The two bedroom home was bought by a young couple.
Redfern house prices have jumped by 16.2%, according to CoreLogic RP Data. Forsyth was quoting $850,000 plus.
At <a href="https://redir.aspx?C=79zFc25QqEGnZ6JTcfBKWf6KkeEd4NEIyAHetFn24ibN4isqe1s859cfUt3vGLzH9VNGxccgBAY.&amp;URL=http%3a%2f%2fwww.realestate.com.au%2fproperty-house-nsw-ashfield-118348847" target="_blank" style="line-height: 1.3em;">12 John St Ashfield</a> about 100 spectators saw two bidders go all the way at each other from start to end when offered through Domenic Bucciarelli of LJ Hooker Ashfield. 
The auctioneer Rob Trovato of Auction Services secured $1,122,000 which was $142,000 over reserve for the house which was a heritage listed, in need of repair, and offered with the potential of building a granny flat.
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Empty Redfern renovator's delight sells for $1.18 million

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Sydney’s weekend auction market concluded the spring selling season with a 74.6% success rate, virtually steady.
Last weekend’s 73.5% preliminary result was the lowest recorded for four months.
Last weekend's result was adjusted down to 68.4% after late auction results.
Just over 1,000 auctions were listed in Sydney today which ranked as the highest ever number of homes to go under the hammer on a spring Saturday. There are some 350 results yet to be tallied, which will see the preliminary result come back a bit.
The record Saturday stands with 1,100 plus offering during the 2014 Easter leadup.
The upper north shore hosted the most number of auctions this weekend with 146 closely followed by the inner west with 123, the south 134, the city and east 124, the lower north 107, the west 88, Canterbury Bankstown 81 and the northern beaches with 66 auctions scheduled.
The 1884 Roseville residence, Corona House, the late Victorian Italianate style home (pictured below) was passed in at $4.5 million through McConnell Bourn.
<img src="/images/2014/12/01/roseville%20nov%2030%20one.jpg" alt="">
The highest recorded sale was when 52 Lucretia Avenue, Longueville was sold for $3,605,000 through McGrath Estate Agents.
The Woods-McFadden house at Double Bay was passed in <a href="/news/boyarsky-family-in-12-6-million-double-bay-beachfront-buy">on a $14 million vendor bid</a>.
The most popular suburb for auctions this weekend was Hunters Hill on the lower north shore with 15, followed by Mosman also on the lower north shore, St Ives on the upper north shore, Blacktown in the west, and Castle Hill in the north west each with 12 and Strathfield in the inner west and Epping on the upper north shore each with 11 auctions scheduled at the weekend.
Sydney commenced the spring selling season this year with nine consecutive clearance rates above 80%, according to Australian Property Monitors.
"The market has clearly lost that early energy with 5 out of the last seven weekends below the 80% benchmark," APM senior economist Andrew Wilson said.
Before the Saturday results, the four-weekend average clearance rate had fallen to 76.4% which is now well down on the 80.6% average recorded over the previous four-weekend period.
Pre-auction sales had been tracking around 30% in last three months, but jumped up to 40% of sales during November.
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Sydney's Super Saturday auction success rate ends spring steady

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Melbourne’s weekend auction market finished the spring selling season on a 67.2% clearance rate.
It was a similar result to last weekend which recorded the lowest clearance rate for spring, and for the year so far, with an initial 67.1% which was revised to 66.8% after late results.
A surge in late spring auctions numbers was impacting market activity with buyers increasingly spoiled for choice, according to Australian Property Monitors (APM).
Auctions numbers rose strongly this weekend with over 1,300 homes listed offered under the hammer in the metro area. 
"This is well ahead of last weekend’s 1,154 results and just below the 1,341 auctions conducted over the same weekend last year," APM's Andrew Wilson said.
There are around 400 of the 1,326 results yet to be advised.
The top sale was Sandy Cove, the Brighton beachfront at 38 Dawson Avenue, which (pictured below) sold for $8,525,000 through hockingstuart. Boasting 46 metres of absolute west-facing beach frontage, the 1989-built Jon Friedrich house sits on a 771 square metre block. It last sold in 2007 for $6.1 million.
<img src="/images/2014/12/01/brighton%20dec%201%20one.jpg" alt="">
Pre-auction sales were prevalent, with the REIV reporting 170 pre-sales from its larger sample of 1181 auction results.
The REIV listed the top sales amid its 65% success rate:
TOP 5 HOUSES 1. 38 Dawson Avenue, Brighton $8,525,000 2. 37 Elizabeth Street, Brighton East $4,345,000 3. 6 Chilcote Avenue, Malvern $3,760,000 4. 2 Barnsbury Court, Deepdene $3,700,000 5. 129 Richardson Street, Albert Park $3,510,000
TOP 5 BARGAIN HOUSES 1. 83 Seventh Avenue, Rosebud $240,000 2. 11 Romsey Crescent, Dallas $270,000 3. 72 Songlark Crescent, Werribee $270,000 4. 36 Chelsworth Loop, Craigieburn $330,000 5. 15 Freda Street, Broadmeadows $330,000 
TOP 5 APARTMENTS 1. 2/8 Glenview Avenue, Malvern $1,920,000 2. 4 Bosisto Street, Richmond $1,530,000 3. 105 Ormond Esplanade, Elwood $1,500,000 4. 3 Edward Street, Toorak $1,250,000 5. 1B Wordsworth Street, St Kilda $1,036,000
TOP 5 BARGAIN APARTMENTS 1. 1/44 Brunswick Street, Fitzroy $133,000 2. 9/10 Derby Street, Fawkner $228,000 3. 36 Elinda Place, Reservoir $253,000 4. 5/216 Sladen Street, Cranbourne $255,000 5. 710/551 Flinders Lane, Melbourne $295,000
Source: Australian Property Monitors.
Melbourne’s inner city hosted the most number of auctions on the weekend with 220 closely followed by the inner south with 209, the inner east with 188, the west  185, the north east 165, the outer east 160, the north 109 and the south east  49.
The most popular suburb for auction listings on the weekend in metro Melbourne was Richmond in the outer east with 24 followed by Glen Waverley in the outer east and Reservoir in the north east each with 22, Port Melbourne in the inner city with 21, St Kilda also in the inner city with 19, Mount Waverley in the inner east and Melbourne CBD each with 18 and Doncaster in the inner east and Brighton in the inner south each with 17 auctions scheduled this weekend.
Last weekend’s auction clearance rate of 67.1% was well below the previous weekend’s 72.1% with the local market clearly tracking backwards since the Melbourne Cup weekend holiday. "Record numbers of auctions will continue to test a fading market through December to the Christmas break," Wilson said.
Before Saturday's result Melbourne’s four weekend average clearance rate had fallen to 72.7% well down on the previous four weekend average result of 75.4%.  
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Melbourne's weekend auctions end spring on weakened 67% clearance rate

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NSW Fair Trading says property auctions should be conducted in English, but current laws do not prevent an auction being translated into a different language. 
The issued flared after a recent A Current Affair report on Melbourne auctions.
Auctioneer Robert Ding at Marshall White Boroondara was profiled on a report entitled 'Chinese buyers taking over the housing market', which focused on his dual-language talents during a house auction.
Ding thought the report was one sided.
“The auction footage had me talking in Mandarin but I was also translating it to English and vice-versa,” he told Real Estate Business.
David Scholes, founder and principal of auctionWORKS, does not have a problem with dual language auctioneers conducting auctions in another language in areas where offshore buyers predominate.
“As long as the auction is conducted primarily in English, and when I say primarily I mean completely in English with parts such as prices and relevant topics regarding terms and conditions being translated into other languages, then I don’t see why anyone would have a problem with it,” Scholes said.
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English language property auctions required in NSW

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There are 1,426 auctions scheduled this week in Melbourne compared to 1,598 for the same time last year.
The highest volume of auctions will be in <a href="/news">Reservoir </a>and <a href="/news">Richmond</a>, each are expecting 23 auctions.
The state election may be on this Saturday but it does not have a significant affect on the market, buyers are able to vote and bid with ease as polling places are open from 8am to 6pm.
With only four weeks to go for auctions this year one of the features of the year – more auctions – is clearly apparent. So far this year there have been more homes sold at auction, 26,402, than there was over the whole of 2013. In 2013 there were 25,350 home sold at auction.
On a citywide basis, the time on market results for houses sold at private sale was stable at a very low 31 days over the last week and vendor discounting eased slightly to -4.8%.
Key data
<ul>
<li>Clearance rate week ending 23 November: 66.1%</li>
<li>Melbourne auctions expected week ending 30 November: 1,426</li>
<li>Melbourne private sales time on market week ending 23 November: 31 days (houses)</li>
<li>Melbourne vendor discounting market week ending 23 November: -4.8% (houses)</li>
<li>Listings being prepared for market are 3.5% higher in month ending 23 November (seasonally adjusted)</li>
</ul>
Source: CoreLogic RP Data.
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