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>
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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 Calder Freeway, which makes its way through central Victoria’s has contributed to a increase in capital growth and compared to other regional centres towns along this transit corridor are showing the strong appreciation.
For those unfamiliar with Victoria the Calder Freeway is the main road between Melbourne and Bendigo and links <a href="/news">Macedon</a>, <a href="/news">Kyneton</a>, <a href="/news">Gisborne</a>, <a href="/news">Woodend </a>and <a href="/news">Castlemaine</a>. There is also a matching rail service and both have been upgraded over the past decade.
House values in these areas have outpaced Melbourne, Ballarat and Geelong over the past five years.
The best growth was recorded in the Macedon Ranges Shire which includes Macedon, Kyneton, Gisborne and Woodend. Over the past five years house values have grown by 46.2%.
Following Macedon Ranges Shire was Mount Alexander Shire which is centred on Castlemaine. There house values have risen by 39.5%.
The further away from the Melbourne the area is the lower is the growth, presumably as there is less of a flow on from the metropolitan market.
In the City of Greater Bendigo values have risen by 38.4%, lower than Macedon Ranges but still well above the 28.4% recorded in Melbourne.
Interestingly values in Ballarat, with a rise of 33.9% have also exceeded Melbourne.
For many people, the attraction to these areas is highlighted by the availability of more affordable property coupled with a country lifestyle. The data shows that as a result of additional transport options in these areas it has made it more and more possible for people to maintain employment and undertake a tree change.
There are 573 auctions scheduled this week in Melbourne compared to 600 for the same time last year. This is a rare but minor 4.5% fall which does not reflect the fact that in the first eight months of the year there have been 29.5% more auctions than the same time in 2013.
The current regional variation in auction numbers should be taken into account when analysing the auction market as many sellers in the inner east appear to avoiding winter.
The main auction activity in Melbourne remains outside the inner eastern suburbs with 16 homes scheduled to go under the hammer in <a href="/news">Reservoir</a>, 11 in <a href="/news">St Kilda</a> and 10 in <a href="/news">Essendon</a>, <a href="/news">Melbourne</a> and <a href="/news">Preston</a>. For buyers looking in the more expensive inner east volumes are rising slowing with six expected in <a href="/news">Camberwell</a>, <a href="/news">Kew </a>and <a href="/news">Hawthorn East</a>.
The average time on market for houses sold last month rose slightly from 43 to 44 days. Vendor discounting contracted from -5.2% the previous week to -5% last week.
Key data
<ul>
<li>Clearance rate week ending 27 July: 68.5%</li>
<li>Melbourne auctions expected week ending 3 August: 573</li>
<li>Melbourne private sales time on market week ending 27 July: 44 days (houses)</li>
<li>Melbourne vendor discounting market week ending 27 July: -5% (houses)</li>
<li>Listings being prepared for market are 0.7% higher in month ending 27 July (seasonally adjusted)</li>
</ul>
Photo courtesy of Richmeister/<a class="mw-mmv-license cc-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by/2.5" target="_blank">CC BY 2.5</a>.
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Calder Freeway provides drive for growth: RP Data's Melbourne auction preview

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Ray White is set to host a combined commercial property auction in Broadbeach next month.
The August 15 event will see 12 properties up for sale from Ray White Commercial Southport, Ray White Industrial Gold Coast and Ray White Commercial Gold Coast.
Auctioneer Richard Impiombato said there is a diverse mix of properties on offer, from office complexes to development sites and retail assets.
“The listings come from as far south as Burleigh Heads to as far as north as Eagleby in Logan City,” said Impiombato, who expects a strong turnout for the auction.
“We have an impressive line-up of properties including a modern warehouse/showroom complex at 3/2 Breakwater Street, Merrimac, being<a href="https://www.commercialview.com.au/unit-3-2-6-breakwater-street-merrimac/commercial-both-details-6921967" target="_blank"> marketed by Kristoffer Sonter of Ray White Commercial</a> Southport,” he said (pictured above).
“Another standout listing is a standalone headquarter building at 34 Nerang St, Nerang, which has three levels of office space and basement parking for 30 vehicles." <a href="https://www.raywhite.com/qld/southport/1150543/" target="_blank">The office block</a>, marketed by Wayne Devenport of Ray White Commercial Southport, is pictured below.
<img src="/images/2014/07/30/comm2.jpg" alt="">
The auction is scheduled for 11am on Friday, August 15 at the Gold Coast Convention Centre, Broadbeach.
It's planned to be the first of a regular series of combined commercial property auctions, with others scheduled for October, November and December.
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jrichardson-uRX5hFdKfN

Twelve commercial properties up for grabs at Gold Coast auction event

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Sydney’s mid-winter auction market retained its recently renewed energy at the weekend recording yet another preliminary strong result around 77%, according to Australian Property Monitors.
The 77.1% clearance rate recorded was the third consecutive 77% plus result following a five week period of waning rates.  
"A moderation of unrealistic price expectations from vendors may be a contributing factor to rising clearance rates over recent weekends," the APM senior economist Dr Andrew Wilson suggested.
Some 506 homes were scheduled for auction at the weekend in Sydney which was well up on the prior weekend’s 404.
It was some 174 more or 52% higher than the 335 homes auctioned over the same weekend last year.
"Auction numbers will continue to gradually rise over coming weekends from its July lows as the market turns from its mid-winter trough and heads towards the spring selling season," he said.
The inner west recorded the highest clearance rate at the weekend of all the suburban regions with an exceptional 90.7% result.
"Next best was the lower north with 88.9% closely followed by the city and east with 88.7%, the upper north with 87.2% and the south with 83.1%.
"The strong upper north shore result follows last weekend’s relatively low result and reflects continuing strong underlying demand for property in that region."
The most expensive property reported sold at auction at the weekend was the five bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-croydon+park-117338283" target="_blank">23 Beaufort Street, Croydon Park</a> (pictured above) sold for $2,190,000 by Elders Inner West-Enfield agent Sebastian Bonaccorso. It came with lift servicing three levels including its basement garaging for eight cars.
Auctioneer at Property Auction Services Rocky Bartolotto told Property Observer that buyer numbers for the weekend across his Sydney auctions dropped by one buyer week to week, however the percentage of registered bidders who actually make a bid at the auction was still considerably up.
 "This traditionally is around 50% however at the moment is at approximately 70%," he said.
He noted that his auctioneers had detected a "handful of owners" had reserve prices set well above the agent opinion and what the buyer feedback has been throughout the marketing campaign. 
"These properties seemed to have lower registered bidders to bid on auction day. 
"In some cases this was evident with reserve prices set $100,000 over agent/buyer indication levels.
"It’s important for vendors that the feedback coming from agent/buyer is strongly considered for best outcomes."
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jchancellor-FAypfDUnLy

Occasional unrealistic vendor expectations hover around Sydney auctions: APM

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The weekend’s hot clearance rates have kept the property market unseasonably warm for winter, particularly in the big auction cities of Sydney and Melbourne.
RP Data’s preliminary figures show Sydney with a clearance rate of 75.9% for 657 <a href="https://www.smartcompany.com.au/finance/42971-13-tips-for-buying-at-auction">auctions</a>, the highest in the city for 17 weeks.
Melbourne notched a 66.1% clearance rate with 722 homes going under the hammer, while Adelaide sat at a healthy 62.8% off the back of 68 auctions.
The median price for house in Sydney was $635,000, while it was just $100,000 less for a unit. Melbourne’s house/units medians were similarly close, at $478,000 and $420,000 respectively.
Brisbane’s auction market continued its lukewarm performance, with 44.2% of its 159 auctions sold on the auction block.
The national clearance rate dipped slightly to 67.3% from 69% last week.
RP Data's senior research analyst Cameron Kusher told SmartCompany the results were strong for this time of year.
He said this was particularly evident in the number of auctions taking place throughout the traditionally quiet winter period.
“It shows that, particularly in Sydney and Melbourne, there is still a confidence in the market. People are still willing to sell their homes by auction,” says Kusher.
RP Data predicts auction volumes in August and September to be around 10-20% higher than last year.
While Kusher predicts similar market conditions for this spring as last year, he says the next few months will be the real test as buyers keep an eye on interest rates.
“It will be interesting to see how long the market can sustain this,” says Kusher. “At some point, the market will have to cool.”
Kusher says the growth phase has now been sustained for two years, traditionally the length of a property boom.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
 
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krobb-aCrRNnPq6D

Strong clearance rates keep auction market warm through winter

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There are 1,900 auctions scheduled across Australia this week. In capital cities there are 1,531 auctions expected compared to only 1,441 for the same period last year.
Compared to last week or this week last year capital cities are showing a moderate improvement in key indicators. This is highlighted by the fact that the national clearance rate reached a three month high last week.
A review of the RP Data Listings Index, which measures forward listings activity, shows a clear rising trend compared to last year. When translated to the auction market this should result in volumes in August and September around 10 to 20% higher than last year.
<ul>
<li>In Melbourne there are 665 auctions scheduled compared to 637 this time last year.</li>
<li>In Sydney there are 600 auctions expected compared to 469 for this week last year.</li>
<li>Brisbane is expecting 137 auctions, well down on the 220 this week last year.</li>
<li>Adelaide is expecting 62 auctions compared to 51 a year ago.</li>
<li>Canberra has 37 auctions scheduled compared to 29 a year ago.</li>
<li>Perth has 21 auctions compared to 27 a year ago.</li>
<li>There are eight auctions scheduled in Tasmania.</li>
</ul>
For the second week in a row the highest number of auctions across Australia is expected in the northern suburbs of Melbourne where 23 are expected in <a href="/news">Reservoir</a>.
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Auction market hits three month high: RP Data's national auction preview

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There are 614 Melbourne homes scheduled to go under the hammer this weekend.
It is up on last weekend’s 549 and 80 or so higher than the 531 conducted over the same weekend a year ago.
The most popular region for auction listings this weekend in Melbourne is the west with 104 followed by the inner south with 96, the inner city with 87, the north-east with 84, the inner east 76, and the outer east with 66 auctions scheduled.
<a href="/news">Reservoir</a> is the most popular suburb for auction listings this weekend in metro Melbourne with <a href="https://www.realestateview.com.au/portal/search?rm=search&amp;mapsearch=0&amp;kw=july%2026%20&amp;sub=Reservoir%20VIC%203073%2C&amp;sur=bord&amp;bel=0&amp;beh=0&amp;bal=0&amp;bah=0&amp;sor=featured&amp;CID=0&amp;GID=0&amp;con=S&amp;ptr=r&amp;pal=0&amp;pah=0&amp;portalview=residential&amp;portalsection=buy&amp;exsale=1&amp;jpdate=1&amp;jpday=1&amp;bs=12&amp;prl=0&amp;prh=0" target="_blank">15 listings</a> in the north-east locality.
The next busiest is <a href="/news">Mount Waverley</a> in outer east, <a href="/news">Carnegie</a> in the inner south and <a href="/news">Doncaster</a> in the inner east each with 10 auctions. 
Reservoir was pinpointed this week as <a href="/expert-insights/investing/the-top-10-melbourne-hotspot-suburbs-frank-valentic">a possible Melbourne hotspot</a>.
"Everyone wants to buy in a “hotspot” area that becomes trendy and popular in the near future and allows investors to take advantage of some good capital growth over a shorter time period," Frank Valentic, managing director of award-winning buyers' agency Advantage Property Consulting said.
Reservoir is located 12 kilometres north of the CBD, bounded by the Merri Creek in the west, and the Darebin Creek in the east, a mixed use suburb in Melbourne's north.
The suburb has significant industrial areas in the west and a commercial focus around the railways station and along Broadway.
Reservoir is well represented by the Italian population and also features the Reservoir Private Hospital and Edwardes Lake Park.
One of the auction offerings, at 55 Nesbitt Street (pictured above),<a href="https://www.realestateview.com.au/Real-Estate/55-nisbett-street-reservoir/Property-Details-buy-residential-7283789" target="_blank"> is promoted as "nest or invest</a>". 
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Reservoir hotspot forecast faces weekend auction test

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Merrylands secured a new record price last weekend when a commanding two-storey home sold under the hammer for $1,405,000.
It was 64 Belmont St, Merrylands (pictured above) that bettered the previous record by around $130,000.
The modern home on a 714 square metre holding has five bedrooms plus office. It sold through<a href="https://www.realestate.com.au/property-house-nsw-merrylands-117315615" target="_blank"> Laing + Simmons Granville agents Ray Fayad and Anthony Shalala</a> with 10 registered bidders at the auction. It was built after the block cost $370,000 in 2002.
The opening auction offer was $1 million. 
The previous record was at <a href="https://www.realestate.com.au/property-house-nsw-merrylands-116073231" target="_blank">53 Murray Street</a> (pictured below) which sold for $1,271,000 earlier this year.
<img src="/images/2014/07/25/merrylands%20july%2025%20two.jpg" alt="">
There are 509 auctions scheduled this weekend in Sydney well up on last weekend’s 404 and 174 more than the 335 homes auctioned over the same weekend last year.
The south will host 88 followed by the city and east with 63, the inner west with 57, the upper north shore with 54 and the west with 50, according to Australian Property Monitors.
The most popular suburbs for auctions this weekend in Sydney are Blacktown in the west and Surry Hills in the city and east each with nine.
Last weekend's 404 listings will likely prove to be the low point for auction listings this winter with numbers now set to rise through to spring, APM senior economist Dr Andrew Wilson said.
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Merrylands $1.4 million record price as winter auctions soar

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While it’s often not obvious, a sign of a poorly performing property market can be a low level of residential sales.
It reflects a low level of confidence; owners may be relucent to sell for fear of achieving a low price and buyers may also be reluctant to make the significant commitment that is required when entering into a home loan.
Low transaction levels have a range of negative consequences; professions related to property suffer, state government incomes drop and buyers can find it more difficult to find the right home due to a lack of choice. It's the reason why the number of transactions is an important metric to follow if you are interested in the state of the market – sometimes it can be even more important than prices.
For the Melbourne market, the current level of transactions suggests a healthy market below its peak. The first indication of this is that home values are at a peak in nominal terms but are still around three years worth of inflation below their value in real terms.
The second indication is that the overall number of settled sales at the end of April was only 1.3% higher than a year ago. This is better than 2012 by a reasonable 4.4% but well below the all-time record in 2007 when there was 105,194 sales in Melbourne and four months into this year we are still 22.2% lower.
This data may be surprising to anyone who has seen the record number of auctions this year but as that only accounts for around 31% of sales it can’t provide an accurate picture of the entire market.
As volumes rise, there are 665 auctions scheduled this week in Melbourne compared to 637 for the same time last year.
The market returned to trend last week following the aberration the week before. Along with an increase in volumes, demand continues to build slowly  in the lead up to spring when buyers will find more choice at auctions and improvement for the range of homes on offer.
On a Melbourne-wide basis, the number of days houses are taking to sell by private sale remained above 40 over the last week, higher than was the case over much of summer and autumn. The likelihood of the private sale market tightening substantially will be mitigated by the lack of growth in buyers based on mortgage market activity.
Key data
<ul>
<li>Clearance rate week ending 20 July: 68.4%</li>
<li>Melbourne auctions expected week ending 27 July: 665</li>
<li>Melbourne private sales time on market week ending 20 July: 43 days (houses)</li>
<li>Melbourne vendor discounting market week ending 20 July: -5.2% (houses)</li>
<li>Listings being prepared for market are 0.5% lower in month ending 20 July (seasonally adjusted)</li>
</ul>
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Melbourne transaction numbers slowly rising: RP Data's weekend auction preview

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GUEST OBSERVATION
On Saturday, I witnessed two auctions that were marketed in two different ways and which resulted in very different outcomes.
The first property was advertised with a fairly typical auction marketing campaign which included the usual underquoting. The price guide that was provided throughout the marketing campaign was $1,050,000. At auction the bidding ran out of steam short of the reserve. The agent came and told me he needed more money to get it on the market as the reserve was $1.25 million. I said, "best of luck as you won't be getting that out of me".  
Frustrated the agent went inside to talk to the vendor again before coming back outside to tell me that he had convinced the vendor to reduce the reserve to $1,225,000.  He then told the auctioneer and it was called on the market at $1,225,000. No further bids were made and it sold for $25,000 under the vendor’s reserve to us.  
Anyone who did detailed research and looked at the comparables would know that the property was worth $1,250,000 to $1,275,000 but the underquoting attracted people with a budget closer to the guide of $1.05 million rather than those with a budget of $1.25 million or more. More than likely many of those people with a budget around the $1.25 million mark were attending auctions that had price guides around that point but reserves and values that were maybe closer to the $1.45 million mark?   
The fact is my clients loved the property so much that they gave me a budget of $1,330,000 to spend if needed to secure the property. Yes we purchased the property $105,000 below what my clients were prepared to pay for it which they are very happy about. However they are even happier we purchased it for $50,000 below what the comparables indicated the property was worth up to. 
In comparison at the second property auction I attended the vendor had decided to be transparent with the market. Whether he decided to do this of his own accord or read about my petition to make it mandatory to publish reserves and decided to take the idea on board, I don’t know.  What I do know is that he was transparent with buyers and attracted bidders who could actually afford the price he wanted for the property. He set and published his reserve at $570,000 and <a href="/expert-insights/buying/a-7-5-premium-above-disclosed-reserve-at-bexley-auction-experiment">the property sold for $613,000, some $43,000 over the reserve</a>.
The buyer was ushered into the house to sign the contract and so I spoke to the under bidder. I asked her if the publishing of the reserve price influenced her decision to bid on the property.  She said she would not have even attended the auction if the reserve price had not been disclosed as she was ‘fed up’ with attending auctions that had reserves set well over the price guide provided by agents.
The bottom line here is that transparency won the day.
Let’s hope it catches on for not only all the vendors’ sake but for all the buyers who keep wasting money and time attending auctions every week where the reserve is set in excess of the guide when in fact they should be one in the same.  
If you think my idea of publishing reserves prior to auction is a good move then simply <a href="https://www.change.org/en-AU/petitions/the-honourable-matthew-mason-cox-mlc-nsw-government-make-it-compulsory-to-advertise-auction-reserve-prices-to-stamp-out-underquoting-and-dummy-bidding" target="_blank">sign my petition</a> which is calling on the NSW state government to make it mandatory for all property auctions to have the reserve price advertised seven days ahead of a scheduled auction. 
Feel free to make your comments as to why you signed the petition in the comments box.
Patrick Bright is the founder of Sydney-based buyer’s agency <a href="https://%20www.epspropertysearch.com.au/" target="_blank" rel="nofollow">EPS Property Search</a>.
Patrick is the author of four best-selling real estate books known as “The Insider’s Guide to Buying Real Estate Series”.
<a href="https://www.change.org/en-AU/petitions/the-honourable-matthew-mason-cox-mlc-nsw-government-make-it-compulsory-to-advertise-auction-reserve-prices-to-stamp-out-underquoting-and-dummy-bidding" target="_blank">Visit change.org to sign the petition</a> calling on the NSW state government to make it mandatory for all property auctions.
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No more excuses: Publishing the reserve price prior to auction works

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The weekend's cheapest Sydney sale was at Narellan in the Camden municipality.
The $418,000 sale was its first since 1977 when it sold for $9,000.
The price growth topped 10% per year over the 37 years' ownership.
<a href="https://www.homehound.com.au/listing/for-sale/nsw/sydney-region/macarthur-camden/narellan-macarthur-camden/23-rudd-street-narellan-nsw-2567/" target="_blank">Combined Real Estate Narellan</a> marketed the property as bequested to a childrens' charity, so they were not charging any commission for the purpose of the auction.
The <a href="https://www.onthehouse.com.au/reports/property_profile/14597180/23_Rudd_Street_NARELLAN_NSW_2567/" target="_blank">onthehouse</a> price estimated was prior auction given as $370,000 to $470,000.
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