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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Raine &amp; Horne Commercial South Sydney/Marrickville has sold two Commonwealth Bank (CBA) branch premises at auction.
A private investor, Ausjo Holdings Pty Limited, secured 202-204 Beamish Street, Campsie (pictured above) for $6.9 million. The building is located on Campsie’s main retail strip, near Campsie Station and Campsie Centre. The property is 100 square metres and has a current rental price is $410,000 per annum.
Luke Smith, director of Raine and Horne Commercial South Sydney/Marrickville, says the sale is a strong result considering the current lease term to the CBA had approximately 12 months remaining.
“We fielded over 300 enquiries during the marketing campaign for this property, and at $6,900,000, this sale represents an approximate net return of 5.9%.”
A private investors syndicate secured 118 Argyle Street, Camden (pictured below) for $6.3 million.
<img src="/images/2014/11/26/camden-nov-26-one.jpg" alt="">
The commercial building is 646 square metres, is two storeys and has the capacity to house five tenants. The CBA has no intentions of moving from the first floor, according to Raine and Horne selling agent, Rebecca Saab.
“The ground floor of 118 Argyle Street, Camden will remain leased to the CBA, while the building has the added bonus of two Telstra tower leases which generate an additional $46,000 per annum in addition to the current net rental of $445,810 per annum,” said Saab.
Smith describes both properties as blue chip opportunities.
Raine and Horne Commercial South Sydney/Marrickville sold an additional four properties sold at the auction.
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jchancellor-FAypfDUnLy

Investors bank on CBA branches as Raine & Horne sells two at auction

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A top floor Lakemba one bedroom apartment was the cheapest sale across metropolitan Sydney at weekend auction.
<a href="https://www.domain.com.au/property/for-sale/apartment-unit-flat/nsw/lakemba/?adid=2011538894" target="_blank">It fetched $395,500</a>.
It was marketed as Lakembs's largest one bedroom unit, given its 98 square metre size.
It came with two balconies, a renovated kitchen and a bathroom.
There was also a lockup garage.
The Knapton Property selling agents were saying it had a potential rental of $350 per week, reflecting a 4.5% yield.
It last sold at $277,000 in July 2011, reflecting 11% annual growth.
It is not the highest sale in the block of 10 as $410,000 was achieved mid-year, but that was a two bedder for tamden garage space for two garages. It sold to an investor who put it up at $410 a week.
The weekend auction top bidder was a first time buyer who will rent it out for a short time while they remain in Singapore was the apparent buyer, up against a neighbour.
Bidding went to the mid-$350,000s, with around 15 bidder parties, then it was the two bidders left to battle it out.
 
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Lakemba one bedder sells at $395,500, but was Sydney's cheapest weekend result

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Melbourne’s weekend auction market continues to report moderating results from high late spring auction volumes.
The Melbourne weekend auction market reported the lowest clearance rate this year.
The weekend result of 67.1% was well below last weekend’s 72.1%, according to Australian Property Monitors.
A surge in late spring auctions numbers is impacting market activity with buyers increasingly spoiled for choice.
Some 1,154 properties were listed for auction, almost identical to the previous weekend’s 1,153 and well ahead of the 931 auctions conducted over the same weekend last year.
There are over 1,300 auction expected this Saturday. 
Melbourne’s west hosted the most number of auctions with 187 closely followed by the inner south with 186, the inner city and the inner east each with 157, the outer east 152, the north east 142, the north 91 and the south east  49.
The most popular suburb for auction listings on the weekend in metro Melbourne was Glen Waverley in the outer east with 22 followed by Reservoir in the north-east.
Melbourne’s four weekend average clearance rate has fallen to 72.7% well down on the previous four weekend average result of 75.%.  
Melbourne’s outer east suburban auction market remains resilient recording clearly the highest clearance rate of all the regions at the weekend with 82.%.
The next highest was the inner east with a rate of 71% followed by the inner south 70.%, the north 66.2% and the north east with a clearance rate of 66.0%.
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Melbourne weekend clearance rate dips to 2014 low

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A converted Erskineville Methodist Church sold at weekend auction for $2.05 million.
The home and office space space with courtyard is positioned on the corner of Amy Lane, at 1a Macdonald Street.
More than $1.7 million was being tipped for <a href="https://www.raywhite.com/nsw/erskineville/1214016/" target="_blank">the four bedroom, three bathroom 1890s building</a> that was renovated in 2012.
The church sits on 275 square metres.
It was offered through Shaun Stoker and Ercan Ersan at Ray White having last traded for $247,000 in 1991.
The highest recorded house price in <a href="/news">Erskineville</a> over the past year has been $2.86 million for 146 Rochford Street in November 2013.
CoreLogic RP Data puts its median price for houses at $975,000, a record level.
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Converted Erskineville church fetches $2.05 million at weekend auction

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High auction numbers continue to test the Sydney market with another weekend of elevated activity.
Record numbers of late spring auctions are impacting results, with buyers spoilt for choice as sellers surge into the market before the end of the year shut down.
There was a weekend 73.5% initial clearance rate, but the revised prior weekend success rate slipped to 69%, according to Australian Property Monitors (APM).
The weekend’s 73.5% result was the lowest recorded for four months and the third consecutive result below 80% this spring.
Sydney commenced the spring selling season this year with nine consecutive clearance rates above 80%.
"The market has clearly lost that early energy with five out of the last seven weekends below the 80% benchmark," APM's senior economist Dr Andrew Wilson noted on the preliminary Saturday night figures.
November is still set to record the highest number of auctions ever conducted in Sydney over a month, with 29 November shaping as close to an all-time record day for auctions with over 1,000 properties listed.
There were 870 homes scheduled for last Saturday, similar to last weekend’s 875 but well ahead of the 754 listed over the same weekend last year.
This time last year there was an auction clearance rate of 80.6%, which took the spring scorecard to 17 weekends out of 19 with auction clearance rates above 80%.
There are four weekends to go until the close of the property market for 2014.
At this time last year Sydney's spring weekend auction clearance rates had averaged 83.3%, compared with just 63% over the same period in 2012.
The current four-weekend average clearance rate has fallen to 76.4% which is well down on the 80.6% average recorded over the previous four-weekend period.
Sydney’s northern beached reported the highest clearance rate at the weekend at 82.6%.
The next best region was the city and east with 82.4% followed by the north west 79.3%, the lower north 76.9%, the upper north shore 76.1% and the inner west with a relatively low 74.5% from the most number of sales at 79.
The most popular suburb for auctions last weekend in Sydney was Mosman on the lower north shore and Randwick in the city and east each with 13 auctions listed. 
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Sydney clearance rate slips into the high 60s as record spring auction Saturday looms

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There are 1,187 auctions scheduled this week in Melbourne compared to 1,172 for the same time last year.
The most auctions are expected in <a href="/news">Reservoir</a> with 24 expected followed by 23 in both <a href="/news">Bentleigh East</a> and <a href="/news">Glen Waverley</a>.
The clearance rate over the past few weeks has provided further confirmation that the market is healthy but not booming.
This is also obvious when the home values are both corrected for inflation and then compared to the previous peaks. At the end of September house values in Melbourne were 3% below their peak in real terms and units 5.4% lower. In many parts of Melbourne buyers have better purchasing power than they did in 2010.
Clearance rates may have dropped but the private sale market continues to tighten.
On a citywide basis, the time on market results for houses sold at private sale was stable at a very low 31 days over the last week and vendor discounting dropped to -4.7%.
Key data:
<ul>
<li>Clearance rate week ending 16 November: 68.9%</li>
<li>Melbourne auctions expected week ending 23 November: 1,187</li>
<li>Melbourne private sales time on market week ending 16 November: 31 days (houses)</li>
<li>Melbourne vendor discounting market week ending 16 November: -4.7% (houses)</li>
<li>Listings being prepared for market are 4.3% higher in month ending 16 November (seasonally adjusted)</li>
</ul>
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rlarocca-zWhvjay44N

Market healthy, but not booming: RP Data's weekend auction preview

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A $6.55 million Elwood home was the most expensive to sell in Australia this weekend, according to RP Data.
Trefusis, an 1890s house designed by Ernest W M Crouch, is now the <a href="https://propertyobserver.com.au/forward-planning/advice-and-hot-topics/trophy-homes/37872-elwood-s-1890s-trefusis-trophy-home-sets-suburb-record" target="_blank">most expensive home</a> to ever sell in Elwood.
Last week's top 10 sales were again dominated by Sydney residences, with two Melburnian appearances – however, one Canberra house did make it into RP Data's list. The award winning home at 3 Rouse Crescent in Forrest sold for $3.4 million.
RP Data's top 10 sales for the week ending Sunday 16 November:
<a href="https://www.realestateview.com.au/Real-Estate/6-dickens-street-elwood/Property-Details-buy-residential-7711998" target="_blank"><img src="/images/2014/07/04/yellow-one.jpg" alt="" style="float: left;">6 Dickens Street, Elwood, Vic</a>
The five bedroom, four bathroom house (pictured in gallery above) was purchased by interests connected with DFO founder Geoff Porz through Abercromby's Real Estate Armadale. Built on the Crouch family's grounds, previous owners also include architect Sydney Wigham Smith Junior.
Trefusis sits on a 1,335 square metre plot, with lawns, a swimming pool, outdoor change rooms and shower and a three car garage.
<a href="https://www.realestate.com.au/property-apartment-nsw-darling+point-118122867" target="_blank"><img src="/images/2014/07/04/yellow-two.jpg" alt="" style="float: left;">4/8 Carthona Avenue, Darling Point, NSW</a>
<img src="/images/2014/11/18/2.jpg" alt=""> 
A ground-floor apartment in Darling Point sold for $5.5 million last week through Sydney Sotheby's International Realty. The three bedroom, two bathroom residence is one of four in an apartment block designed by Giles Tribe Architects in 1996.
Each of the apartment's living spaces face north, while the apartment has a north-east view of the water. The master suite has two dressing rooms and a double en suite.
<a href="https://www.realestate.com.au/property-house-nsw-vaucluse-118210899" target="_blank"><img src="/images/2014/07/04/yellow-three.jpg" alt="" style="float: left;">102 New South Head Road, Vaucluse, NSW </a> <img src="/images/2014/11/18/3.jpg" alt="">
After 49 years in the same family, this Vaucluse home sold for $5 million through BradfieldCleary Double Bay. The colonial bungalow has original wainscoting, with leadlights and timber floors throughout. The north-facing back verandah offers a view of the harbour.
Sitting on a 1,511 square metre block, the house has four bedrooms and two bathrooms.
<a href="https://www.realestate.com.au/property-house-nsw-kirribilli-118167771" target="_blank"><img src="/images/2014/07/04/yellow-four.jpg" alt="" style="float: left;">44 Fitzroy Street, Kirribilli, NSW</a>
 <img src="/images/2014/11/18/4.jpg" alt="">
A double storey Victorian Italianate terrace secured $4.3 million when sold through Belle Property Neutral Bay last week. The renovated four bedroom, three bathroom home has dual street entry, with a secure garage at the rear.
Inside, there is timber flooring throughout and original marble fireplaces. The house was purchased for $3.57 million four years ago.
<a href="https://www.realestate.com.au/property-apartment-nsw-surry+hills-118207259" target="_blank"><img src="/images/2014/07/04/yellow-five.jpg" alt="" style="float: left;">1502/417 Bourke Street, Surry Hills, NSW</a>
<img src="/images/2014/11/18/5.jpg" alt=""> 
Buyers paid $4,025,000 for a dual level penthouse in Surry Hills' St Margarets complex, sold through BradfieldCleary Double Bay.
The three bedroom, three bathroom apartment has an outdoor terrace and balcony, with an open air en suite attached to the master bedroom. It features floor to ceiling windows, limestone bathrooms with underfloor heating and access to a pool and gym.
The sellers purchased the unit for $2.9 million in 2006.
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<img src="/images/2014/07/04/yellow-six.jpg" alt="" style="float: left;">6 Gellibrand Street, Kew, Vic <img src="/images/2014/11/18/6.jpg" alt=""> 
This Victorian residence sold for $3.82 million through Jellis Craig Armadale, its first sale in 45 years.
The five bedroom, two bathroom period home has multiple living spaces, including reception rooms, libraries, studies and family areas. Set on 1,041 square metres, the house is located in Melbourne's private school heartland, one street from Trinity Grammar School and two doors down from Xavier College.
<a href="https://www.realestate.com.au/property-house-act-forrest-117962007" target="_blank"><img src="/images/2014/07/04/yellow-seven.jpg" alt="" style="float: left;">3 Rous Crescent, Forrest, ACT</a>
 <img src="/images/2014/11/18/7.jpg" alt="">
Canberra's most expensive home sold last week secured $3.4 million through Luton Properties Woden. Roisin Building, MMM Interiors and Architects Ring &amp; Associates received the Heritage Renovation Project of the Year in 2013.
The four bedroom, five bathroom house includes a formal dining room and formal lounge room, which opens to a covered outdoor terrace with a stainless steel outdoor kitchen. The home also includes a pool and poolside cabana with bathroom.
At the rear of the house, there is a master suite, with a double en suite and a mosaic-tiled steam room.
In the home's basement, which is accessible via an elevator, there is a five car garage, a wine cellar and a media room.
<a href="https://www.realestate.com.au/property-house-nsw-maroubra-118184423" target="_blank"><img src="/images/2014/07/04/yellow-eight.jpg" alt="" style="float: left;">10 Torrington Road, Maroubra, NSW</a>
<img src="/images/2014/11/18/8.jpg" alt=""> 
This five bedroom, four bathroom home set on a 910 square metre double block sold for $3.25 million through Black Lifestyle Property Randwick.
Designed by architect turned commercial property investor Harold Finger, the full brick home has 600 square metres of internal living space. The house is set to the front of the block, with a swimming pool and grassy yard at the rear.
The sellers paid $261,121 for the property 23 years ago.
<a href="https://www.realestate.com.au/property-house-nsw-bellevue+hill-118202383" target="_blank"><img src="/images/2014/07/04/yellow-nine.jpg" alt="" style="float: left;">17 Lennox Street, Bellevue Hill, NSW</a>
 <img src="/images/2014/11/18/9.jpg" alt="">
The third home in last week's top 10 to sell through BradfieldCleary Double Bay was a $3.22 million Bellevue Hill home.
The 1920s home with a contemporary extension has four bedrooms on the upper level, including a master bedroom with private balcony. On the lower level there is an additional guest bedroom.
Set on 591 square metres, the residence has an entertaining terrace and a swimming pool.
The house traded last week for the first time in 27 years – it cost just $340,000 in February 1987.
<a href="https://www.realestateview.com.au/Real-Estate/25-178-campbell-parade-bondi-beach/Property-Details-buy-residential-7744994" target="_blank"><img src="/images/2014/07/04/yellow-ten.jpg" alt="" style="float: left;">25/178 Campbell Parade, Bondi Beach, NSW</a>
<img src="/images/2014/11/18/10.jpg" alt="">
This apartment in the $90 million Beach House complex sold for $3.1 million through Raine &amp; Horne Double Bay. Brian Meyerson (of MHN Design Union) and Burley Katon Halliday designed the apartment, which has direct ocean views.
The three bedroom, two bathroom top floor apartment has 176 square metres of space in total, spread over internal spaces and outdoor terraces and balconies. It also has two car spaces.
The vendors purchased the apartment for $2.7 million in 2010.
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Darling Point priciest house superseded by Melbourne record breaker: RP Data

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A preliminary weighted average clearance rate of 69% was recorded this week across capital cities compared to 63.5% last week and 67.4% this time last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/11/20141117-Capital-City.jpg" rel="wp-prettyPhoto[g4007]"><img src="https://blog.corelogic.com.au/wp-content/uploads/2014/11/20141117-Capital-City-580x427.jpg" alt="RP Data auction market comment | Capital City" width="580" height="427"></a>
Auction volumes were 14% higher than this time last year due to increased listings in both Sydney and Melbourne. Higher stock levels are providing increased opportunities for buyers in capital cities, especially in Melbourne.
In Sydney the auction market returned to trend after the second highest volume this year. A preliminary clearance rate of 75.2% recorded compared to 68.1% last week and 75.3% last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/11/20141117-Sydney.jpg" rel="wp-prettyPhoto[g4007]"><img class="aligncenter size-large wp-image-4009" src="https://blog.corelogic.com.au/wp-content/uploads/2014/11/20141117-Sydney-580x388.jpg" alt="RP Data auction market comment | Sydney" width="580" height="388"></a>
In Melbourne a preliminary clearance rate of 66.7% was recorded compared to 65.5% last week and 69% this time last year. Lower clearance rates have certainly been observed over the last three weeks. Analysis shows that they have returned to trend after what was in retrospect a strong early spring.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/11/20141117-Melbourne.jpg" rel="wp-prettyPhoto[g4007]"><img class="aligncenter size-large wp-image-4010" src="https://blog.corelogic.com.au/wp-content/uploads/2014/11/20141117-Melbourne-580x382.jpg" alt="RP Data auction market comment | Melbourne" width="580" height="382"></a>
In Brisbane a preliminary clearance rate of 45.3% was recorded compared to 43.1% last week.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/11/20141117-Brisbane.jpg" rel="wp-prettyPhoto[g4007]"><img class="aligncenter size-large wp-image-4011" src="https://blog.corelogic.com.au/wp-content/uploads/2014/11/20141117-Brisbane-580x387.jpg" alt="RP Data auction market comment | Brisbane" width="580" height="387"></a>
Adelaide recorded a clearance rate of 60.7% compared to 57.4% last week.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/11/20141117-Adelaide.jpg" rel="wp-prettyPhoto[g4007]"><img class="aligncenter size-large wp-image-4012" src="https://blog.corelogic.com.au/wp-content/uploads/2014/11/20141117-Adelaide-580x382.jpg" alt="RP Data auction market comment | Adelaide" width="580" height="382"></a>
In Canberra a clearance rate of 66% was recorded.
In Perth a clearance rate of 66.7% was recorded.
In Tasmania 4 auction sales were recorded and 3 homes were passed in.
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Auction volumes rise 14% on 2013: RP Data's national auction wrap

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McGrath agent Tracey Dixon sold one <a href="https://www.mcgrath.com.au/buy/house-hunters-hill-nsw-2110/218123/?searchID=44483429" target="_blank" style="line-height: 1.3em;">of Hunters Hill's historic Didier Joubert-built treasures</a> (pictured above) pre-auction.
No price was given but Property Observer wouldn't be surprised if it fetched $5 million.
It was among the 58 pre-auction sales notched up amid the 164 McGrath weekend offerings. Some 21 of the 58 pre-auction sales were price undisclosed.
Elsewhere some 32 of the 91 weekend auctions conducted by Cooley Auctions were sold before, Damien Cooley told 2GB's Ray Hadley Saturday program.
Pre-auction sales are increasingly utilised as the sellers take the best on offer.
Auctions have noted the number of registered bidders has been in decline as auction volumes have picked up in spring.
"Bookings for 6 and 13 December certainly indicate we are in for a very strong auction month in Sydney particularly in the regions of Western Sydney and Northern Districts/Hills where auction volume seem to be at a robust level," auctioneer Rocky Bartolotto at Auction Services said.
It is not to say there aren't still big numbers for some listings. A 5 Marion St, Leichhardt the $990,000 sale was $40,000 over reserve after 12 registered parties gathered to secure a property through Alfio Musumeci at Ray White, which was auctioned by Scott Dalton at Auction Services.
The Bungalow, the Hunters Hill property occupying a 2,276 square metre block at 22 Avenue, was a Victorian sandstone home built in 1879 by Didier Joubert on farmland originally owned by Mary Reibey. 
It was offered by cardiac surgeon Dr Matthew Bayfield and Deputy Mayor paediatrician Dr Meredith Sheil had been hoping for offers of more than $4.25 million.
The sandstone cottage was owned by the Joubert family until 1941.
It last traded in 1999 for $1.7 million when sold by Dr Edmund Sweeney.
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Hunters Hill 1870s Didier Joubert home snapped up pre-auction

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There was a $3.3 million vendor bid when The Stables, the converted warehouse at Clovelly went to weekend auction.
Investment banker Jamie Garis, who until earlier this year was co-head of Greenhill Australia, and Artspace board member Julie Garis bought the two-storey home for $2.4 million in 2004 from the former TV producer and resort operator Henry Crawford and his wife, Nina.
Retaining the original hardwood ceiling beams, timber floors and a trapdoor for hay, it became a four-bedroom home with an office space, gymnasium, tandem garage, separate living areas and a plunge pool.
The Garises added a home cinema, a snooker room downstairs and a poolside sitting area.
McGrath's Chris Volpatti had issued a guide of $3.25 million plus.
The current owners have decked the four bedroom conversion out with contemporary Australian art, including pieces by David Bromley and Bill Henson. 
With Asian-inspired interiors, the home features a variety of undisguised materials, including original timber flooring, timber crossbeams and exposed brick walls.
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