Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

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

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

Auctions

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The former Bank of Melbourne boss David Airey secured Melbourne's top weekend auction result when his renovated four bedroom South Yarra home sold for $3.8 million.
David Airey and his wife Sally acquired the two-storey home (pictured above) in 2011 for $1.83 million before extensive renovations.
The 710 square metre property had pre-auction expectations of between $3.3 and $3.5 million through Jeremy Fox and Sarah Sharp of RT Edgar Toorak when<a href="/news/former-bank-of-melbourne-chief-lists-in-south-yarra"> Property Observer wrote on </a><a href="/news/former-bank-of-melbourne-chief-lists-in-south-yarra">the</a><a href="/news/former-bank-of-melbourne-chief-lists-in-south-yarra"> listing last month</a>.
The former Templestowe home (pictured below) <a href="/news/architect-phillip-mannerheims-former-templestowe-house-listed">of Victorian architect, Phillip Mannerheim</a> fetched $3.35 million having been listed with $2.4 million hopes. It is not entirely original as the current owners have extended and renovated the original residence.
<img src="/images/2014/07/30/templestowe_0000_1.jpg.jpg" alt="Architect Phillip Mannerheim's former Templestowe house listed">
They are the third owners of the home purchased 11 years ago for $870,000. 
They doubled the internal size, keeping in style with Phillip’s original vision for <a href="https://raywhitemanningham.com.au/vic/templestowe/1163486/" target="_blank">4 Winifred Court, Templestowe</a>.
The four bedroom, five bathroom house on 3,986 square metres was sold by Carmen Stenta at Ray White Manningham.
Melbourne notched up a steady clearance rate of 72% on the weekend the same last weekend but slightly lower of the 74% on the same weekend last year.
There were 560 auctions reported to the REIV, with 402 selling and 158 being passed in, 73 of those on a vendor bid.
"So far this year, more than $10.8 billion worth of homes was sold at auction, which surpasses the $10 billion value achieved over the same period in 2010," Enzo Raimondo, the REIV chief said. 
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jchancellor-FAypfDUnLy

South Yarra then Templestowe top weekend Melbourne auctions

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Sydney's most expensive property sold at weekend auction was a three-bedroom Beauty Point home with Middle Harbour views.
The house at <a href="https://www.domain.com.au/property/for-sale/house/nsw/mosman/?adid=2011307063" target="_blank">12 Euryalus Street, Mosman</a> was sold by Simeon Manners Property for $3.23 million. 
"It was just above the reserve, though the reserve was ambitious," agent Michael Mahon told Fairfax Media.
However Property Observer notes it last sold at $3.1 million in June 2010, so not even 1% price growth during the past four years.
There were three bidders with it knocked down to a Mosman family.
RP Data indicated its pre-auction price guidance was $3 million to $3.5 million.
The <a href="https://www.onthehouse.com.au/reports/property_profile/10366737/12_Euryalus_Street_MOSMAN_NSW_2088/" target="_blank">onthehouse estimate for the property</a> was $3,466,400 to $3,908,400 in June and at $3,340,900 to $3,766,900 in August.
The bungalow property comes with approval to rebuild a three level family home on the elevated, north facing 773 square metre block.
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Mosman price shocker tops Sydney's weekend auctions

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Architect Martin Gehrckens secured the sale of his Kew arts-and-crafts-style home after last weekend's auction where it was passed in at $1.8 million.
<a href="https://www.realestateview.com.au/Real-Estate/25-willsmere-road-kew/Property-Details-sold-residential-7339898" target="_blank">The 1928 Boscawen</a>, set near Willsmere village, last traded 23 years ago when Gehrckens, a senior project architect at architecture firm Baldasso Cortese, and his wife Pamela, secured the Willsmere Road house.
The downsizing couple extended and refurbished the four-bedroom property, which comes with two upstairs studies as well as a ground-floor home office. 
Desiree Wakim of Marshall White secured the sale post-auction at an undisclosed price after auctioneer Hamish Tostevin took an opening $1.5 million bid from one of the two interested bidders.
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Boscawen, the 1928 arts and craft Kew house sold

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There are 1,726 auctions scheduled across Australia this week.
In capital cities there are 1,372 auctions expected compared to 1,441 for the same period last year. Based on previous years, this annual period typified by low auction volumes should be over by the end of the month.
The national clearance rate has been both stable over the past few weeks and in line with this time last year. Given the higher volumes this means more active buyers are in the market.
<ul>
<li>In Sydney there are 486 auctions expected compared to 588 last week and 521 for this week last year. Last week’s clearance rate of 76.7% was the highest since March. The auction market is following the trajectory of last year which suggests a very competitive spring ahead for buyers.</li>
<li>Brisbane is expecting 97 auctions after 96 last week.</li>
<li>Adelaide is expecting 50 auctions compared to 95 last week.</li>
<li>Canberra has 31 auctions scheduled compared to 28 last week.</li>
<li>Perth has 25 auctions compared to 20 last week.</li>
<li>There are nine auctions scheduled in Tasmania.</li>
</ul>
Across Australia, the highest number of auctions is expected in <a href="/news">Malvern East</a>,<a href="/news"> Balwyn North</a> and <a href="/news">Reservoir</a>, each of which has 13 scheduled.
There are 673 auctions scheduled this week in Melbourne compared to 677 for the same time last year. Buyers are clearly in the market for capital gains, as yields remain low at 3.3% for houses; the lowest of all capital cities.
Low yields translate into good conditions for renters in many parts of Melbourne. Recently released rental market data showed that the median advertised rent for a house in Melbourne was stable in July at $447 per week and has risen by 2.4% in the previous twelve months.
This means that the median advertised rent for houses is not keeping pace with the CPI, 3.2% in Melbourne, for most relevant period. The comparable data for units showed a drop of a dollar a week to $397 over the month and an increase of 1.6% in the year. This reflects the adequate levels of supply in the higher density market.
The average time on market for houses sold last month rose from 44 to 46 days. Vendor discounting rose, but only slightly from -5% the previous week to -5.1% last week.
Key data for Melbourne
<ul>
<li>Clearance rate week ending 3 August: 69%</li>
<li>Melbourne auctions expected week ending 10 August: 673</li>
<li>Melbourne private sales time on market week ending 3 August: 46 days (houses)</li>
<li>Melbourne vendor discounting market week ending 3 August: -5.1% (houses)</li>
<li>Listings being prepared for market are 0.7% higher in month ending 3 August (seasonally adjusted)</li>
</ul>
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rlarocca-zWhvjay44N

Period of low auction numbers coming to an end: RP Data's weekend auction preview

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Investors secured seven NSW offerings of 7-Eleven service stations at auction yesterday, but the average 4.6% yield was tighter than the 6.8% two years ago.
Generating $33.08 million in sales, the top price was $6.01 million for a Lane Cove Road, Macquarie Park, North Ryde property (pictured above), which sold on a net yield of 4.96%.
 The other service stations sold on net yields of between 3.85% in Dee Why and 5.04% in nearby Mona Vale - all with 15-year leases to 7-Eleven.
The 15-year lease terms that commenced between 2010 and 2012, come with three five-year options; guaranteed fixed 4% annual rent increases, with the tenant responsible for all outgoing costs except land tax.
JLL’s John Macree, Leslie Cheng and Dylan McEvoy marketed the properties on behalf of the Withers Barlow Property Trust.
More 7-Eleven service stations, two in South East Queensland and six in Melbourne, will be auctioned this week.
Russell Withers, worth an estimated $665 million according to the recent BRW Rich list, jointly owns the rights to 7-Eleven in Australia with his sister, Beverley Barlow.
Jones Lang LaSalle has been selling the stores in tranches on behalf of 7-Eleven since early 2011.
The stores were purchased as part of 7-Elevens acquisition of 250 retail sites from Mobil Retail in 2010.
In 2011 seven properties in Thomastown, Clifton Hill and Noble Park in Victoria, Blacktown East, West Gosford and Long Jetty in NSW and Robina in Queensland were successfully auctioned by Jones Lang LaSalle with net yields ranging between 7.28% and 7.95%.
The purchasers have been attracted by land rich investment properties in prime locations with secure long-term leases and fixed rental increases.
7-Eleven Stores is the biggest convenience retailer in Australia, operating about 600 stores.
Many of the buyers were self-managed super fund retirees looking for passive cash flow investments, seeing the opportunity as ticking the box for a premium tenant on long-term lease, high underlying land value, rental growth guarantee, and high-profile exposure locations.
The New South Wales 7-Eleven convenience store and service station investments sold:
<ul>
<li>Ashfield, 132 Hume Highway – 1,524 square metres, sold for $4.9 million with a yield of 4.21%</li>
<li>Camperdown, 198 Parramatta Road – 1,107 square metres, sold for $3.65 million with a yield of 4.72%</li>
<li>Dee Why, 940 Pittwater Road – 1,867 square metres, sold for $5.05 million with a yield of 3.85%</li>
<li>Mona Vale, 38 Barrenjoey Road – 1,573 square metres, sold for $4.325 million with a yield of 5.04%</li>
<li>Macquarie Park / North Ryde, 404 Lane Cove Road – 1,716 square metres, sold for $6.01 million with a yield of 4.96%</li>
<li>Sans Souci, 476 Rocky Point Road – 1,538 square metres, sold for $4.55 million with a yield of 4.96%</li>
<li>St Ives, 157 Mona Vale Road – 2,257 square metres, sold for $4.6 million with a yield of 4.94%.</li>
</ul>
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Yields tighten in latest 7-Eleven Sydney service station offering 

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The intensity of the Sydney auction property market appears to be strong in early August auctions.
Last week Property Observer published a survey of 30 recent auctions suggesting there was a <a href="/expert-insights/buying/add-12-to-sydney-auction-estimates-to-secure-purchase-intelligent-property-services">12% gap between price estimate and knock down sale price</a>.
We'll be checking the auction temperature on a weekly basis as we head into spring.
The randomly selected 10 results showed a range in above estimate sale prices of between 5% and 37%.
There was an 18% above estimate sale price.
The highest result was actually not disclosed, but we can advise it was $1.1 million, some $300,000 above the $800,000 pre-auction price estimate. 
<ul>
<li>51 Burgess Street BEVERLEY PARK  Over $800,000 SOLD AT $1.1 million</li>
<li>110B/144 Dunning Avenue ROSEBERY Over $700,000 SOLD AT $825,000</li>
<li>21 Avenel Road GYMEA BAY Over $770,000 SOLD $820,000</li>
<li>9 Oswald Street  RANDWICK Over $1,050,000 SOLD $1.33 million</li>
<li>13 Henry Lawson Drive PEAKHURST Over $800,000 SOLD $1,052,000</li>
<li>15/176 Russell Avenue DOLLS POINT Over $490,000 SOLD $600,000</li>
<li>15 Pemell Street NEWTOWN $950,000 SOLD $1.105 million</li>
<li>14/16 Abbott Street  COOGEE Over $720,000 SOLD $838,000</li>
<li>49 Caldarra Avenue ENGADINE Over $690,000 SOLD $765,000</li>
<li>28a Rosemead Road, HORNSBY NSW Over $1.4 million SOLD $1.7 million</li>
</ul>
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Paying 18% over auction estimates: Sydney's pre-spring price spurt

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The property clearance rate crept higher again across capital cities this weekend, as experts shrug off suggestions the spring market will not reach full bloom this year.
The national clearance rate has remained <a href="https://www.smartcompany.com.au/finance/investment/42998-strong-clearance-rates-keep-auction-market-warm-through-winter">unseasonably strong</a> for winter, rising to 69.7% off the back of 1,467 auctions this weekend, up from 67.3% last week, according to RP Data.
Property analyst Louis Christopher, from SQM Research, said he didn’t put stock in predictions the spring market may be smaller than usual.
Christopher says there will be just as many buyers around, but the number of listings should swell.
“Clearance rates will fall and commentators will say there has been a slow down,” says Christopher.
He says comments pointing to a price growth “slow down” are inaccurate, and it is more likely the market was just experiencing a natural seasonal lull.
“The market has still got a lot of momentum,” he says, pointing to a tempo of a 7% rise in national property prices. That tempo has hit 15% in Sydney, according to Christopher. 
RP Data spokesman Robert Larocca agrees there is no evidence of a slowdown, said this morning that all indications show spring volumes will be larger in volume than a year ago.
At the weekend, Sydney’s auction market again performed outstandingly, with a clearance of 77.6% as 583 properties went under the hammer.
Melbourne cleared 70.9% of its 637 auctions.
Larocca says the weekend’s results were a good sign for the Melbourne market, which has been playing second fiddle to Sydney’s auction strength.
“Last week Melbourne dragged the national clearance rate down, but this week it contributed substantially, and that bodes well for those in Melbourne,” says Larocca.
Adelaide had a clearance of 60.3% on 94 auctions, while Brisbane preformed woefully, with a 32.3% clearance on 96 properties.
A review of volumes nationally over the first eight months of the year shows there have been nearly 50,833 capital city auctions in total, or 38% more auctions held when compared to the same period last year, according to RP Data.
Christopher shrugged off commentators saying buyers are showing signs of ­resistance to higher prices at the end of an 18-month upturn.
“They were saying that two years ago. Buyers will always be unhappy about prices,” he says.
Christopher predicts spring listings will be strong but says it will be interesting to compare the numbers to that of last year’s strong season.
Larocca says the growth is more moderate than levels associated with the 2007 and 2010 cycles.
“I remember in 2010 and 2007, buyers were complaining about prices rising in front of their eyes. They are less likely to be surpassed by rising prices now [than back then],” he says.
This article first appeared on <a href="https://www.smartCompany.com.au" target="_blank">SmartCompany.</a>
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Spring market expected to boom as national clearance rate lifts

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A preliminary weighted average clearance rate of 69.7% was recorded this week across capital cities compared to 67.9% last week and 69.3% this time last year.
<img class="aligncenter size-large wp-image-3562" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140804-Capital-city-580x429.jpg" alt="RP Data auction comment - capital cities" width="580" height="429">
Both Sydney and Melbourne, which account for the majority of the auction market in Australia, had strong results with clearance rates above trend.
This week a preliminary clearance rate of 77.6% was recorded in Sydney compared to 75.4% last week. Prior to this weekend the year to date clearance rate was a healthy 74.4%.
<img class="aligncenter size-large wp-image-3563" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140804-Sydney-580x384.jpg" alt="RP Data auction comment - Sydney" width="580" height="384">
In Melbourne a result above trend for the year was reached with a preliminary clearance rate of 70.9% recorded compared to 68.5% last week. Not including this weekends results the clearance rate for the first eight months of the year was 67.3%.
<img class="aligncenter size-large wp-image-3565" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140804-Melbourne-580x380.jpg" alt="RP Data auction comment - Melbourne" width="580" height="380">
In Brisbane a preliminary clearance rate of 32.3% was recorded compared to 44.7% last week. 
Adelaide recorded a clearance rate of 60.3% compared to 60.3% last week.
In Canberra a clearance rate of 59.1% was recorded and in Perth there was a clearance rate of 46.2%.
<img class="aligncenter size-large wp-image-3566" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140804-Brisbane-580x380.jpg" alt="RP Data auction comment - Brisbane" width="580" height="380"> <img class="aligncenter size-large wp-image-3567" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140804-Adelaide-580x384.jpg" alt="RP Data auction comment - Adelaide" width="580" height="384">
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National clearance rate lifts: RP Data's national auction wrap

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Fashion maven Rozalia Alpert's Potts Point apartment has sold at auction for $3,625,000.
It was initially listed with $5 million plus hopes in mid-2012 which were revised recently to around $4 million.
The three-level Wylde Street apartment is one of three in Tarana, a circa 1885 Victorian Italianate-style mansion that was converted to strata residences in 2003 by developer Jorge Fernandez.
The 415 square metre apartment has an enormous living area that originally was the Tarana ballroom along with ornate Italianate features including parquet floors, corinthian columns and vaulted ceilings.
Alpert was the founder of Cara &amp; Co, which sold cutting-edge fashion as well as food, music and art.
The apartment was relisted with revised expectations, with hopes that the apartment in the heritage building might match its $4 million 2005 purchase price<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-potts-point-nsw-2011/226991" target="_blank"> through McGrath's Peter Starr and Jared Ginsberg</a>.
With three interested parties, the auction had just the one bidder on the somewhat awkwardly shaped apartment and car parking.
Its location too just a little too far out of the neighbourhood to attract competitive bidding.
Title Tattle recalls it was last sold for $4million by Retro Security's Koste Stefanoff. The apartment, with 258sqm of internal space plus a 160sqm garden, is in the triplex developed in the 1880 Victorian-Italianate-style mansion built for Arthur McQuade, whose family also owned the adjacent sandstone mansion, Bomera.
Tarana stands on Wylde Street, high above the sandstone cutting that was opened up to car traffic many decades ago. In 1907, a third storey was added to the residence and the original billiards room was extended into a ballroom.
The 2003 restoration was undertaken by the heritage-sympathetic Jorge Fernandez who secured $10.5million from the three apartment sales - with $2.55million from Stefanoff.
The Potts Point result sat within Sydney’s strengthening winter auction market with the weekend’s clearance rate the highest reported for 10 weeks.
The initial August weekend commenced on a high recording a preliminary clearance rate of 79.1%, bringing the four weekend Saturday night average to 77.9% compared to the previous four weekend result of 74.4%, according to the Domain Group's Australian Property Monitors.
Sydney has now recorded four consecutive weekends with clearance rates above 77 percent for the first time since March.
Auctions numbers in Sydney were down with 416 properties scheduled to go under the hammer – 90 fewer than the 506 that were auctioned the previous weekend.
However auction numbers were ahead the same weekend last year when 331 homes were auctioned.
APM senior economist Dr Andrew Wilson said this continued the trend over recent months with 1757 homes listed for auction over July again well ahead of the 1233 auctioned over July last year.
Sydney’s inner suburban regions led the charge at the weekend recording exceptionally strong results.
The top performer was the lower north shore with a clearance rate of 92.9% followed by the inner west at 89.9%, the city and east with 84.4%, the northern beaches at 84.2%, the south with 82.2% and the upper north shore with a clearance rate of 81.8%.
The most expensive property reported sold at auction at the weekend was the Wylde Street, Potts Point offering.
The most affordable property reported sold at the weekend was a two bedroom unit at 9/12 Drummond Street Warwick Farm that sold for $296,000 through Professionals Canley Heights.
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Prestige Tarana, Potts Point apartment sold at 10% discount

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Intelligent Property Services says recent Sydney auction price guidance is around 12.7% below actual sale prices.
"With the Sydney market getting off to a cracking start in 2014 we saw that agents and vendors’ price expectations were being regularly eclipsed," the general manager of <a href="https://www.ipsg.com.au/" target="_blank">Intelligent Property Services</a>, Ramon Mitchell, said. 
"We believe that price guides need to be more accurate, especially given the information available to agents and the large sums of money involved in property transactions. 
"Not only do real estate agents have a plethora of information available to them when they price each property, they are also supposed experts in their local area," he said.
A survey issued in August 2013 by Intelligent Property Services (IPS) reported that there was a variance of 13.1% between real estate agent price guides and the final auction result in Sydney, and<a href="/news/nsw/sydney-auctions-selling-15-3-above-price-guides-since-september"> a November 2013 survey showed the gap had got to 15%</a>.
The latest 30 auction sample selection, with tabulation undertaken by head of research at Intelligent Property Services, Joe Kotevich, was from Bondi in the east to Burwood in the west at auctions from $549,000 to $1.7 million.
The results ranged from 1.5% above to the largest variance at 26%, recorded for a $1,362,000 terrace in Alexandria’s golden triangle which had an initial guide of $1 million plus.
"Some sales are pushed significantly over expectations by exuberant bidders as evidenced by the oversized studio at 12/7 Ithaca Road, Elizabeth Bay selling for $725,000 which was a whopping $165,000 over reserve, some 24% above the original guide of $550,000," said Mitchell.
"Another recent example was at the sale of <a href="https://www.homehound.com.au/listing/withdrawn/nsw/sydney-region/eastern-suburbs/darlington-eastern-suburbs/72-ivy-street-darlington-nsw-2008/" target="_blank">72 Ivy Street, Darlington</a>. 
"With a price guide of $700,000 plus there was approximately 100 people in attendance at the auction. 
"After a slow auction bidding stalled in the $700,000’s and a vendor bid of $810,000 was used by the frustrated auctioneer; perplexing many in the crowd. 
"The dilapidated terrace then passed in at $811,000 and finally sold after negotiation for $820,000 – some $120,000 over the price guide."
Mitchell said with the traditional spring selling season fast approaching, "what better time for the industry to show greater levels of transparency in order to temper buyer frustration and to give them a better chance in picking the proverbial battles that they actually have a shot at winning". 
"Whilst our intention is not to infer that all properties are deliberately underquoted, nonetheless the impact remains the same.
"Whenever we ask prospective property buyers what they would rank as the most frustrating aspect of the buying process invariably the answer is the agent “lowballing” the price guide. 
"In our day-to-day role as buyers agents we regularly see selling agents give would-be buyers enticingly low price guides so as to bolster their auction attendance numbers. 
"Time and again we watch disappointed registered bidders walk out of auction rooms without even having had a chance to bid after having watched opening bids knock them straight out of contention," Ramon Mitchell said.
IPS will continue to monitor the market and track the results. 
Auctions numbers in Sydney are down this weekend with 416 properties scheduled to go under the hammer – 90 fewer than the 506 that were auctioned last weekend, according to Australian Property Monitors.
However auction numbers are well ahead the same weekend last year when 331 homes were auctioned.
"This continues the trend over recent months with 1,757 homes listed for auction over July well ahead of the 1,233 auctioned over July last year," APM senior economist Dr Andrew Wilson said.
The inner west will host 75 auctions followed by the south with 64, Canterbury Bankstown  with 45, the upper north shore with 42, the west with 41 and the city and east with 39.
The most popular suburb for auctions this weekend in Sydney is Blacktown in the west with eight followed by Bankstown.
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