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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GUEST OBSERVATION
Was it a case of one strike, two strikes and three strikes you’re out? Or was it a well planned and orchestrated auction campaign?
The agent and auctioneer would lead us to believe it was all planned. Perhaps not the weather, but some agents do believe this is in their control nonetheless.
The opportunity to own a prestigious 900 square metre plus block of land and one that sits on the right side of the road, went to market this weekend. It was the side of the road zoned to the Parramatta council, which has a reputation for being friendly towards development applications. First time on offer and a home built by a master builder himself, was the auctioneer’s pitch.
However, it did come with a surprise.
In this case, the surprise was disclosed to all attendees prior to auction. The gentlemen that once owned the property, peacefully passed away in the home.
From talking to the neighbours and other locals, he was a well know gentleman.
The facts
It is Father’s Day. It is Sunday. The owner had passed away in the home and this deterred many emotional and superstitious buyers.
To top it off, the day was overcast, but in all this, the crowd was filled with known developers and new ones wanting to make their mark.
The auctioneer
The auctioneer Peter Baldwin believed that the campaign was well organised and for the following reasons it made sense to offer the property on Father’s Day. It was a four week campaign and with the demand for this type of property, it made sense to have the auction on this day, he said. It gave time for people to do everything else on the Saturday and attend the auction on the Sunday with less hassles.
At the commencement of the sale, Baldwin even referred that this could well be the best Father’s Day gift for the lucky buyer. Baldwin, when asked what the expectations would be, he noted $900,000 - $1,000,000 as the price guide, and that he would be extremely happy above the $1,000,000 mark. He was also well aware the target market was developers.
The Agent
Conor Arnold from the Professionals, concurred with the auctioneers to the reasons behind the sale taking place on the Sunday. He further added, the property was in a prime location and they were looking for the developers that would not be influenced by the deceased passing away in the home, nor deterred by any other circumstance, such as a Sunday auction.
Conor was very clear and did inform all attendees that viewed the home during the campaign, of the conditions surrounding the sale. Could this have been the main reason why there were few Asian parties registered to bid? This was a question put to Conor. In response, Conor went on to emphasise the development interest of the block and the target audience.
Background and Observations
 
<ol>
<li>
I was made aware of this auction and the conditions by a developer that I knew and would be attending. He believed the home price will fall just above and not within the price guide given to him by the agent. At the million and even $1.1 million price, it was an attractive development proposition for him. The developer commented on the possibility of the home going at a reasonable price due to the surrounding circumstances that would keep Asian buyers away. It would be developers fighting it out toe to toe without the overzealous mix of buyers adding fuel to the competition. 
</li>
<li>The agent in this case went the extra mile in the presentation and the preparation of the home. Was he trying to entice the emotional buyer even still, although the real targets were the developers? I believe he was, and I can say, good on him for presenting the property in the manner it was presented in. Great job. </li>
<li>It is my personal opinion that the property was never worth under the million, regardless of the circumstance surrounding the sale. From when I was made aware of the sale I told my developer friend; forget what you have heard and have been told, the property will sell for between $1,150,000 - $1,200,000.</li>
</ol>
 
We spoke to an architect, who believed that two detached, four bedroom homes with double lock up garages could be built on the block. Each alone would sell for $1,200,000 respectfully.
Who bought the home?
It was interesting to note that the successful bidder was the next door neighbour. An Asian family that have made offers on other homes adjoining to this home and theirs.
What will they do with this home? They did not disclose what their intention was, but one of the neighbours told our crew an offer was made on his property two doors up for $1,300,000-$1,400,000 but he has since refused the offer. He said however, that he will sell at the two million dollar mark. Wishful thinking? If you base it on landbanking options for future development maybe not.
It is interesting to note that developers come in all shapes and forms and not all Asian families are deterred, nor superstitious, about what happened in a home. Perhaps at the right price, we all forget superstition and religion. It is interesting to also note that the neighbour from two doors up had been made an offer by the purchaser and this is at $200,000 more than what they just paid for the current property. 
{qtube vid:=vXEX-mzV6A8}
EDWIN ALMEIDA is managing partner and licensee-in-charge of <a href="https://www.just-think.com.au/" target="_blank" rel="nofollow">Just Think Real Estate</a>.
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ealmedia-arK4DBYLjS

A deceased estate with development potential: How did its Father's Day auction turn out?

<html><body>
Actor Nadine Garner has sold her Bentleigh East home for $1.08 million.
Garner, who has been around since playing Tamara on The Henderson Kids in the mid-1990s, bought 26 Paloma Street in 2008 for $860,000.
<a href="/news/actor-nardine-garner-lists-bentleigh-east-home">The five bedroom, three bathroom home had $820,000 to $890,000 price guidance</a>.
<a href="https://www.realestate.com.au/property-house-vic-bentleigh+east-117667511" target="_blank">Tara Ferrier of Hodges</a> auctioned the 620 square metre property.
She is currently filming the third season of The Doctor Blake Mysteries.
Garner, her husband Cameron Barnett and two sons, Eden and Jem, are moving to the northern suburbs to be closer to the boys’ school.
<a href="/news">RP Data puts the suburb's house median at $780,000</a>.
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jchancellor-FAypfDUnLy

Actor Nardine Garner secures Bentleigh East sale

<html><body>
A preliminary weighted average clearance rate of 74.4% was recorded this week across capital cities compared to 72.9% last week and 74.9% this time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Capital-city.jpg" rel="wp-prettyPhoto[g3692]"><img class="aligncenter size-large wp-image-3697" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Capital-city-580x431.jpg" alt="RP Data auction review | Capital cities" width="580" height="431"></a>
Results across capital cities this week, especially Sydney, provide a clear indication that this will be good spring for sellers.
In Sydney a preliminary clearance rate of 82.4% was recorded compared to 79.9% last week. Clearances around 80% in Sydney indicate a high level of competition and confidence from buyers.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Sydney.jpg" rel="wp-prettyPhoto[g3692]"><img class="aligncenter size-large wp-image-3696" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Sydney-580x381.jpg" alt="RP Data auction review | Sydney" width="580" height="381"></a>
In Melbourne this spring is shaping as a better one than last year with more homes being listed and sold as both sellers and buyers are confident of a good outcome. There was a preliminary clearance rate of 75.1% recorded compared to 73.5% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Melbourne.jpg" rel="wp-prettyPhoto[g3692]"><img class="aligncenter size-large wp-image-3695" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Melbourne-580x378.jpg" alt="RP Data auction review | Melbourne" width="580" height="378"></a>
In Brisbane a preliminary clearance rate of 49.4% was recorded compared to 46.8% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Brisbane.jpg" rel="wp-prettyPhoto[g3692]"><img class="aligncenter size-large wp-image-3694" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Brisbane-580x384.jpg" alt="RP Data auction review | Brisbane" width="580" height="384"></a>
Adelaide recorded a clearance rate of 70.2% compared to 64.9% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Adelaide.jpg" rel="wp-prettyPhoto[g3692]"><img class="aligncenter size-large wp-image-3693" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Adelaide-580x383.jpg" alt="RP Data auction review | Adelaide" width="580" height="383"></a>
In Canberra a clearance rate of 55.6% was recorded and in Perth there was a clearance rate of 28.6%.
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rlarocca-zWhvjay44N

Spring market off to a flyer: RP Data's national auction wrap

<html><body>
Sydney’s spring auction market notched up a strong 82.7% clearance rate on the first Saturday of the season.
The weekend's initial result was the fifth consecutive rate above 80%.
Sydney’s four weekend initial average clearance sat at 82.5% compared to 78.5% over the previous four-weekend period, according to Australian Property Monitors.
There were 522 auctions scheduled at weekend with 430 results included in the initial clearance rate.
There were 583 on the previous weekend when an 81.9% initial rate was reported, and then revised down to a very strong 79.5%.
The inner west reported the most number of sales at the weekend with 61 and the highest clearance rate of all the suburban regions with an 89.7% result.
The inner west was closely followed by the north west with 87.5%, the lower north 87%, Canterbury Bankstown 84.8%, the west 84.6%, the city and east 82.8%, and the upper north shore with a clearance rate at the weekend of 81.5%, according to APM's senior economist Dr Andrew Wilson.
The first Saturday of the spring autumn market had 21 reported sales at or above $2 million - just down on the prior weekend’s 22 sales result.
The most expensive property was a four bedroom home at <a href="https://www.homehound.com.au/listing/for-sale/nsw/sydney-region/inner-west/burwood-inner-west/16-eurella-st-burwood-nsw-2134/" target="_blank">16 Eurella Street, Burwood</a> (pictured above) which was sold for $4,460,000 by Raine and Horne Burwood. It last sold in 1994 for $540,000.
The most affordable property was a three bedroom home at 14 Mikkelsen Avenue, Tregear sold for $370,000 by Laing and Simmons Mount Druitt.
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Burwood helps inner west reign in Sydney spring auctions

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Melbourne’s spring auction market commenced on high at the weekend with a 79.4% success rate in the initial Australian Property Monitors tally of the initial 715 results.
It was the highest weekend rate reported this year - and the highest since the pre-Grand Final super Saturday of 21 September last year.  
This weekend’s clearance rate was well ahead of 76.6% recorded over the same weekend last year. There was a revised 76.5% result on the last weekend of winter in Melbourne.
The most expensive property reported sold at auction at the weekend was a seven bedroom 1990-built home at 511 Belgrave-Hallam Road, Lysterfield (pictured above) which sold for $3.4 million through Barry Plant. It last sold at $2.5 million in 2004.
The most affordable property reported sold at the weekend was a three bedroom home at 4 Lawson Road, Melton South which was sold for $140,000 through PRD Nationwide Melton. It last trade at $178,000 in 2007.
The inner east reported the most number of sales at the weekend with 99, but also the highest clearance rate with an 89.2% result.
Melbourne's eastern suburbs are tipped as the powerhouse for capital growth during the 2014-15 financial year, according to the upcoming Domain Spring Guide.
Balwyn North's median house price is predicted to surge by close to 10%, the highest for Melbourne, followed by Glen Waverley and Ringwood prices which are expected to jump by 9%.
The outer east weekend clearance rate was 85.2% with 69 reported sales followed by the inner city with 79.3%, the north east 79.2%, the north 77.3% and the inner south with a clearance rate at the weekend of 74.7%.
The Melbourne auction market had been strengthening with the August four weekend average at 77% compared to the previous four weekend result of 73.9%, the Domain Group senior economist Dr Andrew Wilson said.
The most popular suburb for auction listings on the weekend was Glen Waverley in the outer east with 16, followed by Reservoir in the north with 15.
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East shines as Melbourne auctions start spring with strongest result for a year

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There was just one house in the cheapest 10 Sydney weekend sales of last weekend.
It was a three bedroom house in <a href="/news">Leumeah </a>that fetched $440,000 at <a href="https://www.domain.com.au/property/sold/house/nsw/leumeah/?adid=2011348259" target="_blank">13 Burns Road</a> which sold through Richardson &amp; Wrench Ingleburn.
The prices started at $350,000 for Liverpool unit which last traded at $270,000 in 2009, reflecting 5% annual growth.
49/4-6 Lachlan Street, <a href="/news">Liverpool</a> had the potential for $420 a week rental.
The nine units ranged from a studio in the Mont Clair, <a href="/news">Darlinghurst</a> block to three bedrooms at <a href="/news">Greenacre</a>.
The cheapest 10 were:
<ol>
<li>Two bedroom unit Liverpool -  $350,000  </li>
<li>Studio unit Darlinghurst - $365,000 </li>
<li>Three bedroom unit Greenacre -  $389,500  </li>
<li>Two bedroom unit Bexley - $420,000 </li>
<li>Two bedroom unit Cabramatta -  $431,000 </li>
<li>One bedroom unit Camperdown -  $432,000 </li>
<li>Three bedroom house Leumeah - $440,000 </li>
<li>Two bedroom unit Ramsgate  - $445,000 </li>
<li>Two bedroom unit Parramatta - $447,000 </li>
<li>One bedroom unit Brighton Le Sands - $455,000</li>
</ol>
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Only one house in Sydney's 10 cheapest weekend auction sales

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Real estate is often about numbers. Everything it seems, from the price of the house to the weekly rent, can be expressed as a number.
Here are five topical numbers as the market enters spring:
<ul>
<li>25,080</li>
</ul>
This is the number of units in the suburb of <a href="/news">Melbourne</a>. Melbourne has the most individual dwellings of any suburb in the city which will come as little surprise to anyone who has watched the highrise market take off in the last decade.
This is also a very large number in the context of the general density of the city. By way of contrast, the suburb with the most houses is <a href="/news">Reservoir</a> with 13,692 and when you include all the units, the number rises to 20,430, still well short of Melbourne.
<ul>
<li>871</li>
</ul>
With 871 houses sold in the last 12 months <a href="/news">Pakenham </a>has recorded the most house sales of any suburb in Melbourne.  The popularity of housing in the suburb is based on many factors, key amongst them is its relative affordability.  Based on the sales in the last year the median price was $337,500 compared $532,000 for Melbourne.
<ul>
<li>49</li>
</ul>
There are now 49 suburbs in Melbourne that have a median house value of $1 million or more. At nearly one in 10 sales across the city occurring for a sale price in the million dollar range, it is far more common than it used to be.
What has not changed is the most expensive suburb, <a href="/news">Toorak</a>, which had a median value of $2.941 million and saw 151 sales for more than a million dollars over the past year.
<ul>
<li>30</li>
</ul>
The median value of a house in Melbourne has grown by 30.4% over the past five years. Only two capital cities have exceeded that over the same time, Sydney and Darwin.
<ul>
<li>1</li>
</ul>
One is the number of suburbs in the cities west that have a median house value of more than one million dollars. Overlooking the Maribyrnong River and neighbouring the popular <a href="/news">Essendon</a>, <a href="/news">Aberfeldie</a> has a median house value of $1.04 million after a 14% rise in last year.
If you wanted to live there and can afford the price then you will probably need to wait as it is only a small suburb, 1,099 houses, and averages only one sale every 6.5 days.
Weekend auction preview
There are 765 auctions scheduled this week in Melbourne compared to 530 for the same time last year. The highest number of auctions is expected in the <a href="/news">Glen Waverly</a> with 16 scheduled this week.
Buyers are likely to face more vibrant market conditions and higher prices compared to the spring selling season last year.
The August RP Data Core Logic home value indices results released this week shows a rise in dwelling values of 0.8% in Melbourne and 7.6% rise this year.
Due to high levels of supply in the unit market, the majority of the growth occurring in the market is for houses. For houses, the index recorded a rise of 8.3% this year compared to 2.5% for units.
Time on market results for houses sold at private sale rose from 44 days to 47 days over the last week whilst vendor discounting rose from -5.2% to -5.3%.
Key data
<ul>
<li>Clearance rate week ending 31 August: 73.5%</li>
<li>Melbourne auctions expected week ending 7 September: 765</li>
<li>Melbourne private sales time on market week ending 31 August: 47 days (houses)</li>
<li>Melbourne vendor discounting market week ending 31 August: -5.3% (houses)</li>
<li>Listings being prepared for market are -1.3% lower in month ending 31 August (seasonally adjusted)</li>
</ul>
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The five numbers to know about Melbourne: RP Data's weekend auction preview

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A three bedroom, two bathroom unit sold for $3.5 million this week. According to RP Data, the first floor unit  in the former Royal Hospital for Women (pictured above) is the most expensive property to sell in the past week. This week's top end sales were dominated by Sydney offerings, with only one property in the top 10 sales located in Melbourne. The top 10 sales of the week, from RP Data:
<ol>
<li>
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-paddington-nsw-2021/201206" target="_blank">4/18 Flinton Street, Paddington, NSW </a> <img src="/images/2014/09/02/1.jpg" alt=""> The first floor apartment in Paddington Green sold for $3.5 million through McGrath Estate Agents. One of 10 apartments in the complex, which was converted in 2000, the residence features three covered verandahs where the buyers can enjoy views of the city, the harbour and the complex's gardens. The apartment includes substantial north facing living and dining areas, with 4.1 metre ceilings. It was recently advertised for rent at $2,800 per week. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-rose+bay-117574299">30a Beresford Road, Rose Bay, NSW </a> <img src="/images/2014/09/02/2.jpg" alt=""> This three bedroom, two bathroom Rose Bay house sold for $3.35 million through Laing + Simmons. The French Rivera inspired home features limestone entertaining areas and a leafy garden. With a northerly aspect, the house has a large living room, a separate formal dining area, a master bedroom with a walk-in robe and two queen sized bedrooms. The property last traded for $810,000 20 years ago. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-dee+why-116721671" target="_blank">11 Summit Avenue, Dee Why, NSW </a> <img src="/images/2014/09/02/3.jpg" alt=""> A contemporary home with panoramic ocean views secured $2.85 million through Belle Property this week. The five bedroom, three bathroom offering sits on a 588 square metre plot at the end of a cul de sac. The house's living room opens to a covered deck and enclosed lawns, with a separate dining area. Upstairs, there is a family room that flows to an entertaining terrace with a north-easterly aspect. The vendors purchased the home for $1.43 million in 2009, with the property doubling its sales price in just five year. 
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/doublebaybondibeach/properties/151453" target="_blank">3 Lord Howe Street, Dover Heights, NSW </a> <img src="/images/2014/09/02/4NEW.jpg" alt=""> This five bedroom home on a 520 square metre corner block fetched $2,836,000 when sold through Raine &amp; Horne Double Bay this week. Situated one street from oceanfront parkland, the home has an open plan living area which opens directly to the outdoor entertaining space and swimming pool. The two storey home has four bedrooms on a single level, all with built in robes. It was purchased for $2.55 million in May 2011. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-brighton-117730195" target="_blank">29 Normanby Street, Brighton, Vic </a> <img src="/images/2014/09/02/5.jpg" alt=""> A four bedroom Brighton house was the only Victorian home to make RP Data's Top 10 this week, selling for $2.8 million through Hodges Brighton. The two storey home on a 702 square metre plot is situated on the northern side of Normanby Street, within walking distance of Brighton Grammar School and the Royal Brighton Yacht Club. It has multiple interior living spaces including a home office which overlooks the pool and spa. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-mosman-117578795" target="_blank">29 Cowles Road, Mosman, NSW </a> <img src="/images/2014/09/02/6.jpg" alt=""> After 37 years in the same family, this house sold for $2.8 million this week through McGrath Estate Agents. The five bedroom, three bathroom house retains many heritage features, including ornate ceilings and original floorboards and fireplaces. French doors open to the home's gardens, which lead to a courtyard with a louver roof and a pool. The home also includes an underfloor wine cellar. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-mosman-117714839" target="_blank">24 Pearl Bay Avenue, Mosman, NSW </a> <img src="/images/2014/09/02/7.jpg" alt=""> The second Mosman home to make this week's top 10, this four bedroom, two bathroom house sold for $2.75 million. Set on a 601 square metre block, the house is situated 150 metres from The Spit Reserve, and is close to Beauty Point Public School and Balmoral Beach. The rear of the north facing house opens to a pool and spa area, with another outdoor entertaining area located at the side. The vendors purchased the property for $2,095,000 in 2002. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-castlecrag-117570239" target="_blank">34a The Bulwark, Castlecrag, NSW </a> <img src="/images/2014/09/02/8.jpg" alt=""> Richardson &amp; Wrench Castlecrag sold this home for $2.7 million. The multi-level home with Middle Harbour views has four bedrooms with an en suite and walk in robe for the main, and a study or additional family room. The home's central feature is its chefs kitchen, and the home also includes multiple entertaining terraces. This is the first time it has changed hands in 12 years. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-dover+heights-117513239" target="_blank">75 Hardy Street, Dover Heights, NSW </a> <img src="/images/2014/09/02/9.jpg" alt=""> This three bedroom, two bathroom double brick house sold for $2.6 million through Raine &amp; Horne Double Bay after being held for 45 years. The art deco influenced corner block home has full northern exposure and offers views over Sydney's skyline and the harbour. A prominent curved front portion of the house holds a sunroom on the ground floor and a sitting room on the upper floor. The house's granite kitchen overlooks the backyard pool. 
</li>
<li>
<a href="/expert-insights/buying/the-second-millers-point-offering-fetches-2-56-million-for-state-government-housing">29 Lower Fort Street, Millers Point, NSW</a> <img src="/images/2014/09/02/10.jpg" alt=""> The formerly state-owned terrace house at Lower Fort Street earned a $2.56 million sum for the New South Wales government when sold through Di Jones Real Estate. The Colonial Regency style home was built in 1834 and offered for first time in a century, according to the listing information. The five bedroom heritage listed townhouse was the second of the state government's Millers Point sales.</li>
</ol>
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jrichardson-uRX5hFdKfN

Paddington unit tops this week's most expensive sales: RP Data

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A preliminary weighted average clearance rate of 72.2% was recorded this week across capital cities compared to 69.5% last week and 71.5% this time last year. This is the highest recorded since early March this year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140901-Capital-city.jpg" rel="wp-prettyPhoto[g3667]"><img class="aligncenter size-large wp-image-3668" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140901-Capital-city-580x431.jpg" alt="RP Data auction market comment | Capital city" width="580" height="431"></a>
Data from the last four weeks has shown that this the best lead into spring since 2010 with more homes being sold at auction and overall higher prices in most capital cities.
In Sydney the market is delivering results comparable to this time last year and looks set to have a strong spring. This week a preliminary clearance rate of 81.1% was recorded compared to 76.1% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140901-Sydney.jpg" rel="wp-prettyPhoto[g3667]"><img class="aligncenter size-large wp-image-3669" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140901-Sydney-580x385.jpg" alt="RP Data auction market comment | Sydney" width="580" height="385"></a> In Melbourne there was a preliminary clearance rate of 71% recorded compared to 70.7% last week. This has been the most vibrant auction market since the middle of February this year with three consecutive weeks over 70%.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140901-Melbourne.jpg" rel="wp-prettyPhoto[g3667]"><img class="aligncenter size-large wp-image-3670" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140901-Melbourne-580x378.jpg" alt="RP Data auction market comment | Melbourne" width="580" height="378"></a> In Brisbane a preliminary clearance rate of 47% was recorded compared to 51.2% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140901-Brisbane.jpg" rel="wp-prettyPhoto[g3667]"><img class="aligncenter size-large wp-image-3671" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140901-Brisbane-580x382.jpg" alt="RP Data auction market comment | Brisbane" width="580" height="382"></a>
Adelaide recorded a clearance rate of 66.1% compared to 67.2% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140901-Adelaide.jpg" rel="wp-prettyPhoto[g3667]"><img class="aligncenter size-large wp-image-3672" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140901-Adelaide-580x385.jpg" alt="RP Data auction market comment | Adelaide" width="580" height="385"></a>
In Canberra a clearance rate of 72.4% was recorded and in Perth there was a clearance rate of 46.2%.
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Clearance rate lifts on the eve of spring: RP Data's national auction wrap

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The Sydney and Melbourne property markets have sailed through their first big auction test at the weekend, as the start of spring saw a wave of properties hit the auction block.
More than 2,000 homes went to auction last week, with an impressive 1,179 of those properties selling under the hammer, according to RP Data.
The national clearance hit 72.2%, up from <a href="https://www.smartcompany.com.au/finance/investment/43422-auction-numbers-up-as-sydney-continues-to-lead-the-way">last week’s solid rate of 66.7%.</a>
“If you wanted to script the lead up to spring, you couldn’t have written it better than what happened at the weekend,” RP Data Victorian housing market specialist Robert Larocca said.
Australia’s two biggest auction markets led the way, with Sydney scoring a remarkable 81.1% clearance on its 769 auctions.
“Exceeding the 80% mark is a clear indication of a very strong auction market,” says Larocca.
“Vendors selling their homes within the next two months will be very happy to see that.”
Larocca says Melbourne also stood up to the test this weekend after a flat few months during winter, with a clearance of 71% on 888 auctions.
“Melbourne has now had three weeks of clearance rates above 70%, that’s a good indication of the strength of the market,” he says.
Adelaide also had a strong 66.1% clearance off the back of 86 auctions, while Brisbane and Perth again struggled with a clearance rate of 47% and 46.2% respectively.
Larocca says the market is closely following last year’s progression at this stage and is still highly dependent on the Reserve Bank of Australia’s historically low interest rates, with any move by the RBA to raise rates potentially taking the heat out of the market.
But he says all current indicators show things are certainly warming up for spring.
“Those that are looking to buy in spring will find there is an increased choice, but many will find the bidding is much more competitive than two months ago,” says Larocca.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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