Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

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.

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

Clearance Rate

Sydney apartment vendors secured a 70 percent weekend auction success rate with CoreLogic advising almost half the sales were pre-auction.

CoreLogic reported 214 apartment and townhouse sales with 97 finding buyers before auction.

Sydney estate agents secured 52 sales via online auctions given the city being in lockdown.

Some 48 listings were postponed.

CoreLogic calculated a $1.03 million median.

Sydney&#39;s dearest weekend apartment sale was the two bedroom, two bathroom at 161/5 Wulumay Close, Rozelle which sold at online auction for $2.77 million.

<a href="/developments/sydney-nsw?source_news_article_id=104928&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sydney-cbd-_template_10.jpg" width="1200" /></a>

Balmain Realty agent Scott Robertson marketed the top floor apartment as within &quot;the prized Balmain Cove harbourfront complex ... with exceptional build quality by Walker Corporation.&quot;

There had been a $2.5 million price guide for the refreshed 1999-built apartment with 127 sqm floor space.

It had last sold in 2012 at $1,275,000 and in 2006&nbsp;at $930,000.

It first sold off the plan in 1997 at $695,000.&nbsp;&nbsp; &nbsp;

Sydney was the strongest city with Brisbane seeing a 27 percent success rate for its apartment offerings.

Melbourne&#39;s 285 results saw a 66 percent success rate with a $670,000 median price.

Nationally there were 530 results across all the capital cities with a 67 percent success rate and a $737,000 median price.

CoreLogic advised almost half the Sydney apartment sales were pre-auction

jchancellor

Walker Corp apartment tops weekend auctions with Sydney vendors securing 70 percent success rate

Sydney&#39;s top revealed weekend apartment sale was $2.18 million at Chatswood.

It was a three bedroom, two bathroom apartment at 1801/2B Help Street.

Set on the 18th-floor in the Regency Tower, the recently refreshed apartment last sold at $780,000 in 2009.&nbsp;

Sydney had the nation&#39;s cheapest apartment sale result at weekend auctions across the capital cities.

It was when 17/22 Nagle St, Liverpool fetched $285,000.

<a href="/developments/sydney-nsw?source_news_article_id=101646&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sydney-cbd-_template.jpg" width="1200" /></a>

It last sold at $148,000 in 2001.&nbsp;

The one bedroom 76 sqm apartment was marketed as in need of substantial repair.&nbsp;

The second floor apartment was sold by Elders Liverpool agent:Frank Polistina.

CoreLogic calculated 78 percent of Sydney&#39;s 336 unit auctions were sold at a $975,000 median price.

It was $691,000 in Melbourne where the lockdown triggered auction withdrawals.

There were just the 306 apartments to auction across Melbourne, with a 62 percent success rate.

<a href="/developments/melbourne-vic?source_news_article_id=101646&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/template_photoshop_melbournecbd_1.jpg" width="1200" /></a>

Canberra saw 80 percent of its 12 apartment offerings find buyers.

It was 55 percent from the 36 Brisbane offerings, a slight improvement on the prior week when&nbsp; CoreLogic calculated there was a 50 percent weekend success rate from Brisbane&#39;s 16 apartment listings.

Last week was set to be the second biggest auction week so far this year however with another lockdown in Victoria volumes dropped slightly.&nbsp;

There were 2,930 homes taken to auction over the week which is currently the third highest number of auctions we have seen this year across the combined capitals.&nbsp;

Of the 2,460 results collected so far, 75.7 per cent were successful.&nbsp;

In comparison, the previous week recorded a higher preliminary clearance rate of 78.2 per cent, which revised down to 75.6 per cent at final figures.

With Melbourne currently in lockdown, 1,264 homes were taken to auction this week, compared to the 1,451 auctions predicted for this week.

Preliminary figures show 72.8 per cent of the 1,101 results collected so far were successful.

There were 1,177 homes taken to auction across Sydney this week, compared to 1,103 last week and 452 this time last year. There have been 969 auction results collected so far, returning a preliminary auction clearance rate of 81 per cent.&nbsp;

Across the smaller capital cities, Canberra recorded a preliminary auction clearance rate of 84.7 per cent, followed by Brisbane where preliminary results show 71.9 per cent of auctions were successful. Adelaide recorded a preliminary auction clearance rate of 69.3 per cent, while in Perth, 34.8 per cent of reported auctions were successful.

The week was set to be the second biggest auction week so far this year however with the lockdown in Victoria saw volumes dropped slightly.

75% auction success rate for Sydney apartments with Melbourne at 62%

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Macquarie Capital’s global executive chairman David Roseman and his interior designer wife Sue have reportedly secured $10 million for their Point Piper beachfront apartment.

There had been guide of $9 million plus on the whole-floor Wolseley Rd apartment.

The Rosemans had undertaken a renovation after it was bought 13 years ago for $3.9 million. 

Sue is a former Macquarie executive.

The four bedroom apartment features Tasmanian Oak chevron floors, Calacatta marble appointments and high ceilings. 

[smartcode_project:default project_id=6201]

The spacious open plan living and dining areas flow to a deep covered terrace.

The ground floor comes with gymnasium, swimming pool and lawn with steps to the beach.

The couple were the recent buyers of the nearby duplex of JP Morgan boss Paul Uren and his wife Jennifer at more than $16 million.

The Hong Kong-based JPMorgan boss had listed it with initial $18 million hopes two years ago. 
 
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The apartment that sits on the dress circle Wolseley Road, Point Piper sold through local agent Di Baker

$10 million Point Piper trophy apartment tops weekend sales 

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Sydney apartment vendors secured an 84% weekend success rate in what was the busiest week for auctions since the week prior to Easter 2018.

There were 3,791 homes taken to auction across the combined capital cities last week, according to CoreLogic.

The higher volumes saw the preliminary clearance rate strengthen, with 84.4 per cent of all auctions recording a successful result.

For apartment vendors the best result came with Sydney's 84% success rate.

Melbourne apartment vendors had a 71% success rate.

[smartcode_project:default project_id=30087]

It was 55% in Canberra and 52% in Brisbane.

Houses outperformed units in all the major auction markets, Sydney (80%); Melbourne (84%); Canberra (90%) and Brisbane (73%).

Auction volumes are set to fall this week due to the Easter long weekend, with CoreLogic currently tracking around 880 auctions a cross the combined capital cities.

The Easter period last year saw 634 homes taken to auction.

Melbourne's results ranged from a $122,500 Box Hill studio which sold through Jellis Craig pre-auction through to a $2 million three bedroom, three bathroom Brighton East townhouse.

The 1A Hodder St offering had a $1.6 million to $1.7 million Gary Peer price guide.

The most affordable sale at auction in Sydney at the weekend was a two bedroom townhouse at 3/165-167 Adelaide St St Marys at $423,990.

The villa had sold at $355,000 in 2016.
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Sydney was host to 1,392 auctions, increasing from 1,025 over the previous week, and 1,279 this time last year.


Brighton townhouse tops Melbourne's 71% weekend apartment auction success rate

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The demand for property in Victoria reached record levels in February.

Some 84.8 per cent of the 3,000 properties that went to auction sold under the hammer, the Real Estate Institute of Victoria found.

It was also the highest clearance rate of any month over the last 11 years, topping an old 2010 record which saw an 84 per cent clearance rate.

There were 17 suburbs which saw a perfect auction run, clearing 100 per cent of its properties at auction.

The likes of inner city Hawthorn East, Brunswick East, Collingwood and Fitzroy North saw all of its homes sell.

[smartcode_project:default project_id=3730]

Also scoring a perfect game were Ferntree Gully, Rowville, Seaford, Ashburton, Blackburn South, Fawkner, Wantirna, Boronia, Fairfield, Hillside, Seddon, as well as the bayside suburbs Sandringham and St Kilda West. 

[smartcode_project:default project_id=324]

Reservoir, Coburg, and Bentleigh East beat out the rest to land as the top selling auction suburbs for February 2021, clearing 44, 37, and 35 auctions respectively, while 11 suburbs at least doubled their auction sales compared to same month in 2020.  

The best improvements on last year are in Sunshine North, Dingley Village, Gladstone Park, Ashwood, Albert Park, Fitzroy North, Doncaster, St Kilda West, Montmorency, Hoppers Crossing, and Templestowe.  

The REIV put the stellar results down to government incentives for first home buyers, mortgage repayment holidays and low interest rates, as well as pent up demand following the COVID-19 enforced lockdowns which saw thousands of auctions cancelled.

 
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There were 17 suburbs which saw a perfect auction run, clearing 100 per cent of its properties at auction

Victoria sees highest February auction clearance on record

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There were 1,587 capital city homes taken to auction last week and with 1,311 results collected so far, 84.5% have found buye

It was an improvement on last week’s preliminary clearance rate of 81.9% when volumes were higher (2,473). 

Final figures saw last week’s preliminary clearance rate revised down to 79.3%.

The lower volumes this week can be attributed to the four of the states and territories having a public holiday on Monday, including Melbourne were volumes are down substantially over the week.

There were 477 Melbourne homes auctioned last week, down on the 1,299 last week. 

[smartcode_project:default project_id=27728]

Of the results collected so far by CoreLogic, 80.9% were sold results. 

The final clearance rate last week came in at 76.4% and one year ago 66.1% on a lower 418.

In Sydney, 812 homes were taken to auction this week, returning a preliminary auction clearance rate of 86.7%.

[smartcode_project:default project_id=7317] 

Last week, a higher 844 auctions were held with an 85.3% final clearance rate and one year ago 830 auctions took place and a 75.2% success rate was achieved.

According to preliminary figures, all of the smaller auction markets saw over 80% of auctions successful this week, Canberra returned the highest preliminary figure of 91.5%, followed by Brisbane (82.3%), Perth (81.8%) and Adelaide (81.7%).

Dr Andrew Wilson, chief economist at Archistar, from My Housing Market noted there was an 88 percent weekend success rate for Sydney houses and 82 percent for units.

It was 80 percent for both Melbourne houses and units.
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Of the 1,311 results collected so far, 84.5% were sold as four of the states and territories enjoyed a public holiday on Monday

Long weekend auction results hold firm

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Across the capital cities some 2,094 homes were scheduled for weekend auction, up from 1,496 over the previous week.

Of the 1,754 results collected so far by CoreLogic, 84 per cent have reported a successful result.

The national auction volume sat around 20 percent down over the same time last year, when 2,517 homes were taken to pre-COVID-19 pandemic auction with 72 per cent sold.

"Auction markets are set to be tested on larger volumes next week, with CoreLogic tracking close to 2,500 capital city auctions scheduled to be held," Corelogic’s Tim Lawless noted.

Melbourne was host to 1,061 weekend, auctions, down on this time last year's 1,248 homes. 

Of the 908 results collected so far by CoreLogic, 82 per cent were successful, down from last week’s preliminary clearance rate of 87 per cent, which revised down to 70 per cent at final figures.

In Sydney, 769 homes were taken to auction last week, compared to 963 this time last year. The preliminary clearance rate came in at 88 percent.

"It is likely that Sydney’s final auction clearance rate will come in above 80 per cent for the third consecutive week," Tim Lawless suggested.

Sydney's had the nation's highest declared sale was in Elizabeth Bay, when a freestanding Queen Anne revival-style mansion on 512 sqm sold for $8.5 million. 

The property offered by the bankruptcy trustee last traded for $2.9 million in 2001.

Across the smaller cities, Canberra recorded the highest preliminary clearance rate at 92 per cent, followed by Adelaide at 85 per cent.  

Dr Andrew Wilson, the chief economist at AI property intelligence platform Archistar noted the weekend saw “red-hot auction markets with rampant buyer activity in all capitals showing no sign of easing.”

All capital cities recorded clearance rates well above 80% on Saturday, with Melbourne the exception just failing to reach that benchmark by 0.4%

Saturday’s clearance rates were generally significantly higher than recorded over the same day last year with the exception of Melbourne that was marginally lower.

Dr Wilson noted Sydney’s Lower North, Northern Beaches and Upper North Shore were the top weekend auction regions all recording clearance rates above 90%.

Sydney recorded a median price for houses sold at auction on the weekend of $1,692,500.

At 87 percent, the clearance rate for units was slightly below that reported for houses. The median unit sale was $970,000.

Melbourne recorded a median house auction price of $1,050,000 at the weekend. The median price for units was $687,500.

The clearance rate for Melbourne units was slightly below that reported for houses.
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Auction wrap: What happened under the hammer February 20?

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There were 1,529 homes scheduled for auction across the combined capital cities last week, up from 1,304 over the previous week. 

Of the 1,191 results collected by CoreLogic so far, 86 per cent have reported a successful result, higher than last week’s preliminary auction clearance rate of 83 per cent which revised down to 79 per cent at final figures.

Over the same week last year, 1,596 homes were taken to auction and 73 per cent of reported results were successful. 

“While the preliminary clearance rate came in strong, it’s important to note that as remaining auctions are collected, we will likely collect more withdrawn results, particularly in Melbourne where another lockdown is currently in place, which would lower the final clearance rate,” CoreLogic’s Tim Lawless suggested.

Melbourne was set host to 668 auctions this week, up from 615 over the previous week.. Of the 467 results collected so far, 87 per cent were successful, up from last week’s preliminary clearance rate of 80 per cent, which was revised down to 76 per cent at final figures. 

Preliminary results show that 47.6 per cent of the successful auctions in Melbourne were sold prior, while so far, just 8 per cent have been reported as withdrawn which we expect will increase over the coming days as the remaining results are collected now that the city is back in a stage 4 lockdown which was only announced on early Friday afternoon..

In Sydney, 624 homes were taken to auction, compared to 447 over the previous week and 583 this time last year.

Sydney’s preliminary clearance rate came in at 87 per cent, down from the previous week’s preliminary clearance rate of 89 per cent, which revised down to 84 per cent at final figures. 

The same time last year saw 75 per cent of reported auctions were successful.

Across the smaller cities, Canberra recorded the highest preliminary clearance rate at 91 per cent, followed by Adelaide on 89 per cent, Brisbane at 62 percent and Perth at 42 percent.

Dr Andrew Wilson, chief economist at Archistar noted “home auction markets continued to report record-level results across-the-board at the  weekend as buyers compete fiercely to secure available property."
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Of the 1,191 results collected by CoreLogic so far, 86 per cent have reported a successful result

Auction wrap: What happened under the hammer on February 13?

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Weekend auction markets saw the combined capitals’ preliminary clearance rate edging above 83 per cent, the best ever rolling success rate recorded by CoreLogic. 

It bettered a brief period in May 2015 and before that in September 2009.

Domain reported the Sydney’s auction market had its biggest result in 24 years, as its preliminary clearance rate reached 88.7 per cent on the weekend.

Every capital city recorded above 70 per cent, CoreLogic noted, after 1287 homes were taken to auction, up on the 884 auctions in the prior week. Over the same week last year, 1167 homes were offered across the capitals, returning a 67 per cent success rate.

It was Canberra that secured the highest weekend clearance rate of 92 per cent.

Sydney followed at 89 per cent, then Adelaide’s 82 per cent, Melbourne on 80 per cent, Perth at 75 per cent and Brisbane on a stronger-than-usual 74 per cent.

The nation’s top auction result was a beach house at Avoca Beach on the NSW Central Coast which fetched $7 million through McGrath.
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Every capital city recorded above 70 per cent, CoreLogic noted, after 1287 homes were taken to auction

Sydney's auction market biggest result in 24 years

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The capital city clearance rate sat 69 per cent over the 2020 December quarter, making it the best performing quarter of 2020, followed by the March 2020 at 62 per cent.

Auction volumes increased by 44 per cent over the three months to December, with 20,489 homes taken to auction across the combined capital cities, up from 14,216 over the September quarter, according to CoreLogic’s Auction Market Review.

“While the three months to December was the busiest quarter of 2020, it was significantly lower than the December 2019 quarter, when 26,923 homes were taken to auction across the combined capitals.”

CoreLogic’s Head of Research Australia, Eliza Owen, says the bulk of the uplift could be attributed to Melbourne.

“65% of the uplift can be attributed to the resurgence of auctions scheduled across Melbourne,” she said noting that vendor activity became pent up during stage four restrictions across the city.

Owen expects auction results to continue “on a strong footing” into 2021, providing there’s no major resurgence of COVID-19 in the community.

Of the 20,411 auction results collected over the latest quarter, just 8.9 per cent reported a withdrawn result, compared to 18.7 per cent over the September quarter and 31.0 per cent over the June quarter. 

Of the sold results, 36.8 per cent were sold prior to auction, compared to 42.0 per cent over the September quarter and 47.8 per cent over the June quarter.

Evatt in the ACT secured a 100% success from its 22 captured results.

Sydney’s Bass Hill sat at 95.8% with 23 of its 24 scheduled auctions finding buyers in the quarter.

Melbourne’s Tullamarine was the top suburb with an 88.5% success rate with 23 of its 26 scheduled auctions yielding a sales results.

Brisbane’s top auction performer was Camp Hill at 75% with 24 of its 32 scheduled auctions being sold.
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CoreLogic’s Head of Research Australia, Eliza Owen, says the bulk of the uplift could be attributed to Melbourne.

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