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

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There was a red hot competition when a towering Stawell landmark went to weekend auction. 
The Victorian Wimmera town's<a id="LPlnk815811" class="OWAAutoLink" href="https://www.monaghansrealestate.com/property/1954/vic" target="_blank"> historic fire station</a> (above and below) fetched $360,000, well above its envisaged $200,000 sale price. 
Monaghan estate agent Terry Monaghan said the converted Victorian Romanesque-style building ignited interest from buyers across Victoria. 
But it sold to a local chiropractor who needed more space.
There were seven disappointed buyers.
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"Anything with a tower or steeple, people go crazy," said Monaghan said.
The heritage-protected station and adjoining bell tower date back to the 1880s when designed by architect George Inskip for the volunteer fire brigade.
It was sold by the Country Fire Authority in 1991 for $48,000 before being bought by the current vendors in 2008 at $151,000 who then converted the first floor into an open-style apartment.
The station was one of the first buildings in Stawell, set 230 kms from the Melbourne CBD.
Set in an elevated position, the tower offers views over the town and towards the Grampians National Park.
Heritage Victoria list it as one of the few intact 19th century fire stations with a bell tower remaining in Victoria.
Another historic property for sale in Stawell is at <a id="LPlnk697424" class="OWAAutoLink" href="http://www.araratballaratrealestate.com.au/?/property/3340334/17-leslie-street-stawell-vic-3380" target="_blank">17 Leslie Street</a> (below) which was built as the home for Stawell's first police superintendent in 1869. 
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Agent Ross Matthews has it listed at $465,000.
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There were 1,472 homes taken to auction across the combined capital cities this week, increasing from 1,026 over the prior week, although still much lower than the 2300 this week last year.
CoreLogic's preliminary results put the national clearance rate at 58.8 per cent, up from last week’s final clearance rate of 50.4 per cent.
The same time last year saw the clearance rate at 62.1 per cent. 
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"Once final results are collected, the final clearance rate will most likely revise down to the low 50 per cent range," auction analyst Kevin Brogan said.
In Melbourne, 678 homes were taken to auction, up from 498 over the previous week. The same week last year saw 1,144 homes taken to auction across the city. Melbourne's preliminary auction clearance rate came in at 60 per cent, up from 53 per cent over the previous week, although lower than this time last year (63 per cent).
A South Yarra apartment sold for $1.58 million, as 180,000 over reserve, when offered for the first time since it was built in 1935.
The <a id="LPlnk55244" class="OWAAutoLink" href="https://www.bigginscott.com.au/property/PRHSBJ_1_7828" target="_blank">3/7 Alexandra Avenue offering</a> (below), with Yarra River views, sold through Biggin &amp; Scott agent Tom McCarthy who had five bidders.
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The Herald Sun reported the successful buyers were from the country who will use it as a bolt hole.
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Sydney was host to 535 auctions this week with preliminary results returning a 66.6 per cent clearance rate across the initial 326 results. 
Over the previous week, 332 auctions were held across the city and a final clearance rate of 52 per cent was recorded. 
This time last year, 63 per cent of the 797 Sydney homes auctioned were successful.
The highest residential sale in Sydney from yesterday was <a id="LPlnk953062" class="OWAAutoLink" href="https://www.propertyobserver.com.au/https://strathfield.randw.com.au/property/0000405247" target="_blank">27A Kingsland Road, Strathfield</a> (below) for $2,780,000 though Richardson and Wrench Strathfield.
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It last sold at $1.4 million in 2005.
Domain noted the house attracted 12 registered bidders, with eight active when the home sold for more than $200,000 over reserve.
Across the smaller auction markets, Brisbane was the only city to see a fall in both auction volumes and the clearance rate week-on-week, while year-on-year, all capital cities saw a fall in auction volumes.
Brisbane's priciest sale was a five bedroom 2006-built Queenslander at <a id="LPlnk505732" class="OWAAutoLink" href="https://www.eplace.com.au/property/QLD-MORNINGSIDE-R2-1834985" target="_blank">102 Belgrave Street, Morningside</a> which had sold in 2013 at $900,000.
The nation's cheapest result was a pre-auction sale in St Kilda at $198,500.
Hockingstuart advertised the Cosmos studio at <a id="LPlnk455753" class="OWAAutoLink" href="https://www.hockingstuart.com.au/property/4-42-waterloo-crescent-st-kilda-vic-3182-87837" target="_blank">4/42 Waterloo Crescent</a> as affordable. At less than 30 sqm, it last sold at $131,000 in 2007.
The late 1950s unit was marketed with a price guide of $190,000 to $209,000.
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jchancellor-FAypfDUnLy

Red hot competition when a towering Stawell fire station landmark 

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There were big losers and big winners at weekend auctions as the volume picked up after the Easter break.
Listings are still lower than a normal autumn given the virtual long weekend, lingering school holidays and encroaching Federal election nervousness.
The markets remain weak with volumes well down from a year ago, Shane Oliver, the AMP Capital chief economist noted.
Queensland mortgagees accepted $120,000 in the nation's cheapest weekend auction sale.
It was on Russell Island, off the Queensland coast in Redland City near North Stradbroke Island, where a two bedroom 2007-built house (to) was sold for the bargain price.
The $120,000 sale price was lower than its prior two sales, according to CoreLogic.
It fetched $159,000 in May last year, and $180,000 in 2009.
The island's median house price sits at $199,000, having peaked at $233,000 in 2010, and dipping to $170,000 in 2015.
The 2007-built home also went under contract late last year when there was a $155,000 asking price, but the sale did not proceed.
LJ Hooker Bay Islands secured the sale of vacated <a id="LPlnk602187" class="OWAAutoLink" href="https://bayislands.ljhooker.com.au/house-in-russell-island-qld-4184-au-g3dgwy#.XMUuDC1L1QI" target="_blank">74 Falconhurst Road</a> offering on the biggest of the Southern Moreton Bay islands.
There have been 30 sales on Russell Island this year, ranging from $475,000 for a waterfront house which had been on and off the market for six years to $24,500 for a vacant block of land, at half its prior sale price.
Melbourne's priciest sale, a $3 million Blackburn development site which was snapped up pre-auction, also reflected a price drop result.
The <a class="OWAAutoLink" href="https://www.raywhite.com/vic/blackburn/2087589/?lang=en" target="_blank">61-63 Whitehorse Rd, Blackburn</a> offering (below) came with approved plans for 12 residences on the 1470sqm residential growth zone development site.
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But the large weatherboard house with another residence last sold at $3.64 million in 2016, according to CoreLogic.
The top house sale was $1.85 million in Caroline Springs, 25 km west of Melbourne's Central Business District, within the City of Melton. 
The <a id="LPlnk571792" class="OWAAutoLink" href="https://www.firstnational.com.au/buy/real-estate/1281938/15-lauriston-quay-caroline-springs-vic-3023" target="_blank">15 Lauriston Quay</a> offering had price guidance of $1.1 million to $1.2 million through First National.
The luxury 2005-built home, on a 976 sqm block directly opposite the lake in the prestigious The Bridges Estate boasts six bedrooms, three of which are grand masters. 
It last sold in 2013 at $937,000, the first time it sold as a home with 650 sqm of floor space.
One on Brighton’s iconic bathing boxes failed to sell at weekend auction when offered by a family that had owned the box for three generations..
<a id="LPlnk873996" class="OWAAutoLink" href="https://www.hockingstuart.com.au/property/bathing-box-34-esplanade-brighton-vic-3186-167341" target="_blank">Bathing Box 34, just off The Esplanade</a> (below) was passed in on a $280,000 vendor bid.
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It now has a $310,000 asking price for the box which has a sea life mural on the front.
Hocking Stuart agent Rowan Thompson told the Herald Sun his two potential buyers hadn’t shown at the auction. 
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The last bathing box sale, No. 89, sold for more than $330,000 a few weeks ago.
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Across Australia’s two largest cities, there were 497 Melbourne homes taken to auction, increasing on the 50 homes auctioned last week, however the clearance rate dropped to 55.7 per cent, after last week’s 63.2 per cent final clearance rate.
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In Sydney, 329 auctions were held returning a 57.1 per cent preliminary clearance rate, improving on the 46.3 per cent final auction clearance rate last week when a lower 221 auctions were held across the city.
It was the weekend's strongest auction market, a position it has held since mid February when Adelaide ranked as the strongest auction market.
A newly built French Provincial style home in Strathfield (below) was Sydney's top result in a pre-auction sale.
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Set on a 731sqm block the five bedroom full brick/concrete home with formal lounge room plus a dedicated home cinema room fetched $3.5 million.
There had been a buyers guide of $3.3 million from its selling agent David Pisano for <a id="LPlnk810060" class="OWAAutoLink" href="https://strathfield.ljhooker.com.au/house-in-strathfield-nsw-2135-au-jk7fax#.XMUvfC1L1QI" target="_blank">9 Hedges Avenue</a>.
Neighbouring the golf course, the 730 sqm block was bought in 2017 at $2.055 million. 
The second highest residential sale in Sydney was <a id="LPlnk532869" class="OWAAutoLink" href="https://chadwickrealestate.com.au/property/house-nsw-turramurra-1p21238/" target="_blank">33 Boomerang Street, Turramurra</a> which sold for $2,575,000 through Chadwick Real Estate.
Designed by architect Lazlo Ernst, the four bedroom two storey 1970-built, Eagleholme sits on a 942 sqm block.
It last sold in 2002 at $1.35 million.
The national preliminary clearance rate rose across the capital cities accompanied by a slightly higher volume of auctions.
Around 1,019 homes were taken to market returning a 54.6 per cent success rate, according to CoreLogic.
The higher activity this week comes off the back of the Easter slowdown which saw only 394 auctions held across the capitals and a 43.9 per cent final auction clearance rate, which was the second lowest clearance rate over the year to date.
All of the capital city auction markets saw an increase in auction activity with the exception of Canberra.
The performance however was varied, with Adelaide recording the highest success rate of 54 percent, while only 20 percent of auctions cleared in Perth.
Canberra had a 43 percent success rate with the top notified sale coming in Curtin at $1.2 million.
The recently renovated four bedroom at <a id="LPlnk772698" class="OWAAutoLink" href="https://www.propertyobserver.com.au/https://blackshaw.com.au/residential-for-sale/0000405732" target="_blank">20 Willcock Place</a> had last sold in 2011 at $880,000. Declined on the market at $1.17 million, it sold through Mario Sanfrancesco at Peter Blackshaw Real Estate with three bidders, Domain reported.
Thee were only 18 auctions scheduled in the nation’s capital.
CoreLogic calculate around 56 percent of houses sold at capital city auctions this week, which was higher than units which returned a 49 percent clearance rate.
</div>
</div>
<div class="column">
 
 
<table style="width: 605px;" border="0" cellspacing="0" cellpadding="5"><tbody>
<tr>
<td colspan="2">
Most expensive
</td>
<td colspan="2"> </td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_0">
<td id="x_rpMostExpensive_tdMostExpensiveCity_0" align="left">Sydney</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_0" colspan="2">9 Hedges Av, Strathfield NSW 2135, 5 br House, LJH Strathfield</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_0">$3,500,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_1">
<td id="x_rpMostExpensive_tdMostExpensiveCity_1" align="left">Melbourne</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_1" colspan="2">61-63 Whitehorse Rd, Blackburn VIC 3130, 6 br House, RW Forest Hill</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_1">$3,000,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_2">
<td id="x_rpMostExpensive_tdMostExpensiveCity_2" align="left">Adelaide</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_2" colspan="2">18 Frome Cr, Mawson Lakes SA 5095, 4 br House, C21 Golden Estates Mawson Lakes</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_2">$901,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_3">
<td id="x_rpMostExpensive_tdMostExpensiveCity_3" align="left">Brisbane</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_3" colspan="2">23 Wren St, Ascot QLD 4007, 5 br House, RW Albion</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_3">$1,715,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_4">
<td id="x_rpMostExpensive_tdMostExpensiveCity_4" align="left">Canberra</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_4" colspan="2">20 Willcock Pl, Curtin ACT 2605, 4 br House, Peter Blackshaw Real Estate Manuka</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_4">$1,200,000</td>
</tr>
<tr>
<td colspan="2">
Most affordable
</td>
<td colspan="2"> </td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_0">
<td id="x_rpMostAffordable_tdMostAffordableCity_0" align="left">Sydney</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_0" colspan="2">10 Kobada Av, Buff Point NSW 2262, 2 br House, LJH Toukley</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_0">$310,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_1">
<td id="x_rpMostAffordable_tdMostAffordableCity_1" align="left">Melbourne</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_1" colspan="2">14/2A Bates St, Malvern East VIC 3145, 1 br Unit, Ray White Carnegie</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_1">$272,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_2">
<td id="x_rpMostAffordable_tdMostAffordableCity_2" align="left">Adelaide</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_2" colspan="2">52 Swan Tce, Ethelton SA 5015, 4 br House, Ouwens Casserly</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_2">$570,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_3">
<td id="x_rpMostAffordable_tdMostAffordableCity_3" align="left">Brisbane</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_3" colspan="2">74 Falconhurst Rd, Russell Island QLD 4184, 2 br House, LJH Bay Islands</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_3">$120,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_4">
<td id="x_rpMostAffordable_tdMostAffordableCity_4" align="left">Canberra</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_4" colspan="2">95 Fullagar Cr, Higgins ACT 2615, 3 br House, LJH Kippax</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_4">$510,000</td>
</tr>
</tbody></table>
 
</div>
</div>
</div>
</div></body></html>

Russell Island mortgagee sale ranked as cheapest weekend auction sale

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Richmond ranked as the busiest suburb for weekend auctions with the Melbourne suburb having 21 homes offered under the hammer.
Richmond's weekend sales included the three bedroom cottage of former Melbourne Victory captain Adrian Leijer (above and below).
His property, which passed in at auction at $1.505 million, sold post auction for an undisclosed price.
The three-bedroom home, renovated by the star centre back and his architect wife Ashlee, had pre-auction $1.4 million to $1.54 million price guidance through Jellis Craig agent Trent Stewart.
The Herald Sun reported a Mornington Peninsula based family will use it as a city pad, the keenest of around 80 groups who had gone through the property at <a id="LPlnk120665" class="x_OWAAutoLink" href="https://www.propertyobserver.com.au/https://www.jelliscraig.com.au/property-details-118-Richmond-Terrace-Richmond-3121/772918" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">118 Richmond Terrace, Richmond</a> which was bought in 2011 for $615,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/15/Rich2.jpg" alt="">
The preliminary Real Estate Insititute of Victoria results for Richmond had 10 homes sold with seven passed in, with four yet to be reported.
According to CoreLogic, the next busiest suburbs were Sydney’s Leichhardt, which had 16 auctions scheduled, followed by Maroubra (15) and Mosman (14), also in Sydney.
But auction listings are low across the capital cities.
And the auction volumes are set to be interrupted over coming weeks the school holidays, the Easter break, then Anzac Day, and the May 18 Federal election.
The REIV calculated 970 Melbourne auctions, then next weekend (20/21 April) there will be just 60 auctions given the Easter slowdown.
Auctions will rise on the 27/28 April weekend to around 410 Melbourne auctions and then in early May to 550 auctions.
There were 2,268 homes taken to auction across the combined capital cities, up from 1,976 over the previous week.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/15/CL-Apr15.jpg" alt="">
But there was not the traditional huge pre-Easter weekend surge. 
CoreLogic noted auction volumes were significantly lower than the week prior to Easter 2018 when some 3,990 homes were taken to auction.
"Although the number of auctions remain well below the week prior to Easter last year, the number of auctions held was the second highest so far this year," Kevin Brogan, the CoreLogic auction analyst noted.
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Preliminary results show an auction clearance rate of 58.2 per cent across the capitals, although Brogan added: "keep in mind that this will revise lower as the remaining results are collected."
The previous week saw the final clearance rate dip from the 57.2 percent preliminary figure, but hold above 50 per cent for the fourth consecutive week at 52.6 per cent.
<div class="x_column">
Across the smaller auction markets, Perth saw a fall in auction volumes week-on-week.
The nation's cheapest weekend auction result was just $212,000 in Brisbane.
</div>
The three bedroom 1970s two storey house sat on an 800 sam holding at <a id="LPlnk643334" class="x_OWAAutoLink" href="https://www.propertyobserver.com.au/https://raywhitelogancity.com.au/properties/residential-for-sale/qld/kingston-4114/house/2079786" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">116 Bardon Rd, Kingston</a> (below), just outside of Brisbane.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/15/Kingston1.jpg" alt="">
It last sold at $55,000 in 2000.
"As you enter you will see this home could do with a little TLC, a coat of paint certainly wouldn't hurt however you will be impressed with this solid home offering a large fantastic layout both upstairs and downstairs," the selling agent's marketing suggested.
The accomodation downstairs could be used by "the savvy investor looking to maximise rental returns," Sam Fuller, the Ray White Logan City agent said.
Adelaide had the next cheapest when $257,000 secured another three bedroom home.
It was <a id="LPlnk411532" class="x_OWAAutoLink" href="https://www.propertyobserver.com.au/https://raywhiteparahills.com.au/properties/residential-for-sale/sa/para-hills-5096/house/2077263" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">10 Warrigal St, Para Hills</a> which sold pre-auction, marketed as offering "an excellent subdivision opportunity for the savvy investor."
</div>
<div class="x_column">
In Melbourne, the 970 homes taken to auction was up on the 900 in the prior week.
But the week prior to Easter last year saw a surge with some 2,070 homes taken to auction across Melbourrne.
Melbourne's preliminary weekend auction clearance rate came in at 54.9 per cent.
Melbourne's most expensive weekend sale was at <a id="LPlnk765143" class="x_OWAAutoLink" href="https://www.rtedgar.com.au/property/732026/9-mernda-road-kooyong/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">9 Mernda Road, Kooyong </a>(below) for $4.72 million after being passed in.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/15/Kooy1.jpg" alt="">
When listed last June it had a guide of between $5.5 million and $6 million.
Sydney was host to 927 auctions with preliminary results returning a 62.9 per cent clearance rate across 577 results.
The week prior to Easter 2018 saw 1,383 Sydney homes taken to auction across the city.
</div>
Sydney has the priciest sale when $6.22 million was paid for <a id="LPlnk980275" class="x_OWAAutoLink" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house/nsw/eastern-suburbs/south-coogee/402455" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">15 Cairo Street, South Coogee</a> (below).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/15/South-C.jpg" alt="">
The four bedroom house was a contemporary design by MKD Architects.
The resort-style three-level residence came with 10-metre pool.
It had ocean views over Wedding Cake Island, its McGrath selling agent Marnie Senior said.
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No traditional huge pre-Easter surge in auction offerings

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<div class="x__2vba1">
It was dentist Nasser El Hage and his cosmetic surgeon wife Dr Alia Nasser who secured the top weekend sale across the nation.
Their Paddington property at <a id="LPlnk98114" class="x_OWAAutoLink" href="https://theagency.com.au/17824/60-62-caledonia-street-paddington" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Caledonia Street, Paddington</a> (above) was sold soon after being passed in at its onsite auction.
The Agency’s Ben Collier secured only the one bid of $7.625 million for the 450sqm five bedroom property. 
It was sold at an undisclosed price, reportedly $7.7 million.
The Caledonia Street holding cost $4,779,000 in 2013, along with a further outlay for a one bedroom with car spot across the street.
The highest declared sale price was at <a id="LPlnk723397" class="x_OWAAutoLink" href="https://theagency.com.au/17828/67-wallaroy-road-woollahra" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">67 Wallaroy Road Woollahra</a> (below) where $5.65 million was secured.
The 1930s home had solid 2010 at $4.95 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/8/Woollahra1.jpg" alt="">
There was an $8.6 million bid on an unsuccessful Woollahra offering.
Melbourne's top notified price was when Vadlure, at <a id="LPlnk507365" class="x_OWAAutoLink" href="https://www.realestateview.com.au/real-estate/9-kintore-street-camberwell-vic/property-details-sold-residential-12472562/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">9 Kintore Street, Camberwell</a> (below) fetched $3.05 million, just above its $3 million price guidance.
The home sits in gardens designed by landscape architect Anthony Scott on the 693sqm block.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/8/Camb1.jpg" alt="">
Vadlure has high period ceilings, marble open fireplaces, bright Baltic pine floors and stained-glass windows reflecting the Federation-era elegance.
One buyers agent described it as "a ‘B’ grader in signature street with great potential to become an ‘A’ grader."
Another buyers agent, Tim Picken, suggested it was in a great position and with potential "but will require approx $1.5+ to do a good renovation and difficult to do so in the Tara Estate with heritage restrictions, although the building itself has good bones to work with provided it meets regulations."
Last sold at $2.25 million in 2014, Vadlure likely takes its name from a village in the Shetland Islands, famous for craft, fishing, gossamer-fine knitwear and its Nordic-Celtic heritage.
A two-storey brick Toorak was passed in at $4.9 million before selling at an undisclosed higher sale price. 
Melbourne recorded a preliminary clearance rate of 55 percent over the weekend from 775 scheduled auctions just shy of the 57 percent success rate in Sydney from 621 scheduled auctions, according to Domain Group.
The revised clearance rate is expected to fall, according to AMP Capital's chief economist Shane Oliver.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/8/CL-Apr8.jpg" alt=""> CoreLogic's preliminary weekend clearance rate.
Sydney's median house price was $1.26 million and an $825,000 median unit price.
Melbourne had a $940,000 median house price and a $623,000 median unit price, according to Domain.
There were very high numbers of properties being pulled from auction in Sydney.
In Sydney over 110 properties were pulled from auction across Sydney as homeowners are increasingly withdrawing their properties from auction due to lack of competitive buying interest.
</div>
<div class="x_ztzrw">
<div class="x__3t7hh">
<div class="x__1kIOl">
The weekend data put the withdrawn prior to auction property numbers at about 18 percent of auction listings, up from the decade average of about one in 10 homes.
"The rise in sellers willing to pull their home from auction has risen at a greater pace compared to other downturns, indicating the market is under stress," the Domain data analyst Nicola Powell told Domain.
"It suggests particular homes have insufficient bidders to create a competitive auction, rather than an auction not hitting the vendor’s reserve."
A six bedroom Avalon beach home at <a id="LPlnk964902" class="x_OWAAutoLink" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house/nsw/northern-beaches/avalon-beach/402122" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">94 Whale Beach Road, Avalon Beach</a> (below) was among the listings pulled from weekend auction by the ASX listed McGrath Estate Agents.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/8/Avalon1.jpg" alt="">
McGrath agents pulled 12 listings, or 14 percent of their reported weekend offerings.
The Avalon Beach house now has a $3.5 million asking price having last sold at $2,925,000 in 2017.
There had been a $3.5 million price guide.
<div class="x__2vba1">
There was no trouble selling a freestanding home in Petersham that attracted 22 registered bidders. 
</div>
<div class="x_ztzrw">
<div class="x__3t7hh">
<div class="x__1kIOl">
The four-bedroom freestanding 1900 home at <a id="LPlnk633677" class="x_OWAAutoLink" href="https://www.ch.com.au/107-brighton-street-petersham-nsw-4797970/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">107 Brighton Street Petersham</a> in the inner west Sydney suburb sold for $350,000 above its reserve for $2.25 million through Julie Hatch at Cobden &amp; Hayson.
It last sold in 2001 at $875,000.
Getting 22 bidders at an auction in the current market was "unheard of" in the current market, the auctioneer Damien Cooley said.
However properties with just one or two things wrong with them weren't attracting interest at all, Cooley added.
Adelaide has the nation's cheapest result. 
The three bedroom house at <a id="LPlnk67767" class="x_OWAAutoLink" href="https://harcourts.com.au/Property/783188/STG6003/26-Panorama-Crescent" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">26 Panorama Crescent, Reynella</a> fetched $253,000.
"This once loved family home could do with a little TLC but roll up your sleeves and put in a little effort and you are sure to reap the rewards," the Harcourts selling agent Kelly Eustice said.
The brick house sat on an 860 sqm lot in the Onkaparinga municipality.
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Sydney auctions being pulled at elevated rate as buyers get picky

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There was no game, set and match when a Brighton tennis court failed to find a buyer at weekend auction, after attracting just the one bid of $3.75 million.
The vendors at <a id="m_1632196101188182388LPlnk173799" class="m_1632196101188182388OWAAutoLink" href="https://protect-au.mimecast.com/s/tucWCmO5OnH1wWoOiGsxWv?domain=marshallwhite.com.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/tucWCmO5OnH1wWoOiGsxWv?domain%3Dmarshallwhite.com.au&amp;source=gmail&amp;ust=1554153686165000&amp;usg=AFQjCNFdfXvzXpBMTEtqfYK6m_HzxGdf8Q">58 Were Street</a> had $3.8 million to $4.1 million pre-auction price hopes, and will now take $3.95 million.
Their neighbouring house at <a id="m_1632196101188182388LPlnk64277" class="m_1632196101188182388OWAAutoLink" href="https://protect-au.mimecast.com/s/jqFBCnx1xocl0mZ8tJb4La?domain=marshallwhite.com.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/jqFBCnx1xocl0mZ8tJb4La?domain%3Dmarshallwhite.com.au&amp;source=gmail&amp;ust=1554153686165000&amp;usg=AFQjCNGr-SNOj-SnNcfmEcJDXA24CH8Usg">60 Were Street</a>, which had $3.5 million to $3.8 million hopes, was also passed in with one bid at $3.55 million.
The home with tennis court has only had two owners since its 1919 construction with the current vendors buying it in 1982 for $285,000, The Herald Sun reported.
The tennis court is a 892-square-metre block of land (top) , while the five-bedroom house with garden (below) covered by a heritage overlay is on 1070 sqm.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/1/Were1.jpg" alt="">
It's a periodic occurrance as earlier this month a Hunters Hill, Sydney tennis court offering fetched $3.55 million, some $250,000 above reserve.
<a id="m_1632196101188182388LPlnk449287" class="m_1632196101188182388OWAAutoLink" href="https://protect-au.mimecast.com/s/BIe2CoV1V0hlNvVOtVXeJ3?domain=thenewdaily.com.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/BIe2CoV1V0hlNvVOtVXeJ3?domain%3Dthenewdaily.com.au&amp;source=gmail&amp;ust=1554153686165000&amp;usg=AFQjCNEqulnKGlPV5H63j7dbgn2QGjlMlw">The 900-square-metre grass tennis court holding</a> was once part of the 1893 house next door.
In 2017 a tennis court at <a id="m_1632196101188182388LPlnk651901" class="m_1632196101188182388OWAAutoLink" href="https://protect-au.mimecast.com/s/OEDuCp818qhQrA0YtGBQWi?domain=thenewdaily.com.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/OEDuCp818qhQrA0YtGBQWi?domain%3Dthenewdaily.com.au&amp;source=gmail&amp;ust=1554153686165000&amp;usg=AFQjCNHpzW3jOsD8qG0zp3G_ojkBDvBWiA">16 Stradbroke Avenue, Toorak</a> fetched $7.805 million at an auction that resembled a five-set tennis match.
Melbourne's top weekend sale was at Albert Park where <a id="m_1632196101188182388LPlnk567997" class="m_1632196101188182388OWAAutoLink" href="https://protect-au.mimecast.com/s/dGsgCq717rSLAXyqsNNNS8?domain=cayzer.com.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/dGsgCq717rSLAXyqsNNNS8?domain%3Dcayzer.com.au&amp;source=gmail&amp;ust=1554153686165000&amp;usg=AFQjCNGBRS2-wtUAZBG1MM-PtmfZW-xp7g">7 O'Grady Street</a> (below) sold through Cayzer Real Estate for $3.14 million after it had been totally transformed behind its classic Victorian facade.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/1/Albert.jpg" alt="">
Set on 272 sqm with double garage, the four bedroom, two bathroom home last traded at $492,500 in 2000. 
There had been $2.75 million to $3 million price guidance.
Melbourne had the <a id="m_1632196101188182388LPlnk572311" class="m_1632196101188182388OWAAutoLink" href="https://protect-au.mimecast.com/s/OaT7Cr818vhwK2RgCN-NPS?domain=harcourts.com.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/OaT7Cr818vhwK2RgCN-NPS?domain%3Dharcourts.com.au&amp;source=gmail&amp;ust=1554153686165000&amp;usg=AFQjCNGzRHzcKl0ZmlxjFt9qYC8WU_IbAA">cheapest weekend result across the capital cities when a Malvern East</a> studio apartment sold at $103,000.
The price guidance had been $130,000 to $143,000 for the student accomodation at 203/60 Waverley Road, set close to Monash University Caulfield Campus.
It was last advertised as a $275 a week rental.
CoreLogic reported the highest residential sale under the hammer in Sydney was <a id="m_1632196101188182388LPlnk118333" class="m_1632196101188182388OWAAutoLink" href="https://protect-au.mimecast.com/s/8-_-Cvl1lzIOmAnQHyb2Ln?domain=georgesellis.com.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/8-_-Cvl1lzIOmAnQHyb2Ln?domain%3Dgeorgesellis.com.au&amp;source=gmail&amp;ust=1554153686165000&amp;usg=AFQjCNFvazU6Wkg5Onyd_O8iSaVAZ-vyPA">7 Wallis Avenue, Strathfield</a> (below) for $4,250,000 through George Ellis and Co. It was a three bedroom home marketed as set to be extended or rebuilt on its 689 sqm block.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/1/Strath.jpg" alt="">
There was a pre-auction $5,375,000 sale at <a id="m_1632196101188182388LPlnk7499" class="m_1632196101188182388OWAAutoLink" href="https://protect-au.mimecast.com/s/XuqKCwV1VAh0MyEBSQAJyc?domain=ppdre.com.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/XuqKCwV1VAh0MyEBSQAJyc?domain%3Dppdre.com.au&amp;source=gmail&amp;ust=1554153686165000&amp;usg=AFQjCNHb61nGq2NKP-b4GEkWSanBCGC-oQ">436 Bronte Road, Bronte</a>, continuing the Sydney trend where more offerings sold pre-auction than under the hammer for the third consecutive week.
But the Sunday Telegraph reported the vendors of a unit in Cremorne Point were rewarded for sticking with their auction when it sold for $2.11 million, some $110,000 higher than a pre-auction offer for the three-bedroom <a id="m_1632196101188182388LPlnk733547" class="m_1632196101188182388OWAAutoLink" href="https://protect-au.mimecast.com/s/P3okCxngnBIm6x5YfA3Kms?domain=belleproperty.com" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/P3okCxngnBIm6x5YfA3Kms?domain%3Dbelleproperty.com&amp;source=gmail&amp;ust=1554153686165000&amp;usg=AFQjCNF8MR5LlP4A-LzxUIebNVgDTxLcZg">14/14 Kareela Road offering</a>.
It last sold at $1,411,001 in 2014.
There were 2,155 homes taken to auction across the capital cities this week, with preliminary results showing a 56.8 percent success rate. 
"It is likely that we will see revision down to the low 50’s as final results are collected," CoreLogic auction analyst Kevin Brogan said.
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Through March the largest auction markets have seen the clearance rate holding around the mid-to-low 50 percent range which is lower than the same time last year, but a substantial improvement relative to late 2018, he noted.
"The number of auctions is likely to rise further in the lead up to Easter; if we see the clearance rate continuing to hold, it will be a strong sign that the fit between buyer and seller pricing expectations is becoming more balanced," he added. 
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In Melbourne, a preliminary auction clearance rate of 53.4 per cent was recorded across 991 auctions this week, down slightly from 55.1 per cent across 814 auctions over the previous week. 
Last week’s clearance rate was the highest Melbourne had seen since September 2018.
Sydney was host to 789 auctions this week, with preliminary results showing a 65.9 per cent success rate, compared to 52.1 per cent across 506 auctions last week. This time last year, the clearance rate was a stronger 67.9 per cent across 394 auctions.
Across the smaller auction markets, Brisbane was the only city to see an increase in the number of homes taken to auction this week, while all other cities saw lower volumes week-on-week.
In Brisbane a waterfront apartment in East Brisbane sold at auction for $1.91 million. There were three registered bidders for the Riyala complex offering, a three-bedroom, plus study and two-bathroom apartment at <a id="m_1632196101188182388LPlnk694141" class="m_1632196101188182388OWAAutoLink" href="https://protect-au.mimecast.com/s/5LDwCyojoDh6vLPxhk-RDV?domain=raywhitepaddington.com.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/5LDwCyojoDh6vLPxhk-RDV?domain%3Draywhitepaddington.com.au&amp;source=gmail&amp;ust=1554153686165000&amp;usg=AFQjCNH6tsvQAaR-fdyS9Ak71jQjZb_qEg">241 Wellington Road, East Brisbane</a>. 
Bidding opened at $1.7 million through agent Phil Waight of Ray White Paddington.
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j.ballantyne1990-6AQqhLzZaK

Brighton tennis court fails to sell in final set of March weekend auctions 

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Many Sydney vendors avoided weekend auctions given the clash with the NSW state election.
There were just the 355 auctions across Sydney, substantially lower than the prior weekend's 513 listings.
The listings pattern that had been impacted by the election, would now likely revert to the big run up to the pre-Easter weekend, Kevin Brogan, the auction analysts at CoreLogic noted.
CoreLogic also noted that trend of more houses and apartments being sold pre-auction than under the hammer continued to occur with regularity.
Sydney's top sale in Mosman was pre-auction.
The four bedroom <a id="LPlnk53359" class="x_OWAAutoLink" href="https://www.belleproperty.com/listings/761100/57-shadforth-street-mosman-nsw-2088/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">57 Shadforth Street, Mosman</a> (below) offering fetched $3.47 million through Belle Property which was slightly at below its mooted expectations.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/3/25/Mosman1.jpg" alt="">
The price guide had been $3.5 million for the house last sold in 1993 at $770,000.
Another property sold ahead of scheduled auction included a spacious warehouse-style property at <a id="LPlnk581726" class="x_OWAAutoLink" href="http://www.ppdre.com.au/1P4600" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">31 Blenheim Street, Queens Park</a> (below) at $4 million.
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Agent Alexander Phillips had 98 groups though the property which sold within two weeks of marketing.
The five-bedroom house last changed hands four years ago for $3,335,000.
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There were 1,669 homes taken to auction across the combined eight capital cities, down from 1,875 over the previous week. 
Click here <a href="https://www.propertyobserver.com.au/images/2019/3/25/CL-Mar25.jpg" target="_blank">to enlarge</a>.
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Brogan noted the same time last year, volumes were significantly higher with 3,990 homes taken to auction over what was the pre-Easter weekend, traditionally one of the busiest weeks for auctions each year.
Preliminary results show a national clearance rate of 56 percent, up from last week’s revised 51.4 percent clearance rate.
"Although this will revise lower as the remaining results are collected," Brogan said.
CoreLogic calculated the finalised clearance rates has sat above 49 percent for five of the last six weeks.
"And it’s likely that this week will be no different," Brogan said.
Over the same week last year the final clearance rate was recorded at 62.7 percent.
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The dearest reported result in Melbourne was a four bedroom house in Glen Iris that sold under the hammer at $3,642,500 with three bidders.
The four bedroom home at <a href="https://www.marshallwhite.com.au/property/17-vincent-street-glen-iris-765096/" target="_blank">17 Vincent Street, Glen Iris</a> sold through Marshall White whose price guidance had been $3.5 million to $3.75 million.
It was announced on the market at $3,575,000 having last sold in 2009 at $2.25 million.
A contemporary four-bedroom home at <a id="LPlnk763124" class="x_OWAAutoLink" href="https://www.hodges.com.au/property/762437/7-campbell-street-brighton/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">7 Campbell Street, Brighton</a> (below) was passed in at $4.11 million with just the one bid.
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The custom built Atkinson Pontifex home had a $4.2 million to $4.62 million price guidance.
A home used as a location in the 2004 film The Brush-Off sold in Melbourne’s north post auction, the Herald Sun reported.
The Moonee Ponds period home at <a id="LPlnk940323" class="x_OWAAutoLink" href="https://www.nelsonalexander.com.au/property/763598/22-bloom-street/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">22 Bloom Street</a> sold for an undisclosed sum but within the home’s $1.5 million to $1.6 million advertised range through Nelson Alexander Real Estate.
A Brighton beach box has likely matched the record price for the limited offerings along the iconic stretch of sand.
The quaint <a id="LPlnk328791" class="x_OWAAutoLink" href="https://www.realestateview.com.au/real-estate/bathing-box-89-brighton-vic/property-details-sold-residential-12434419/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">bathing Box 89 </a>sold pre-auction for an undisclosed figure, but reportedly matching the record price of $337,000 set at an April 2018 auction for bathing box 76B.
Marshall White agent Matthew Pillios confirmed to the Herald Sun that No. 89 sold above its price range of $300,000 to $330,000.
The beach box has a mural of a koala enjoying a relaxing day at the beach painted by the artist Daniel Worth.
It was once awarded by the City of Bayside as the best exterior mural along the beach.
The beach box had been owned for three decades by the vendors who sold to a local middle-aged couple with children.
Domain had Sydney's weekend clearance rate at 61 percent, with Adelaide the second best at 55 percent.
Melbourne was at 54 percent; Canberra at 47 percent and Brisbane at 34 percent. 
An $188,000 sale outside Brisbane was the nation's cheapest result, Domain advised.
It was a three bedroom house on 420 sqm at <a id="LPlnk195454" class="x_OWAAutoLink" href="https://www.propertyobserver.com.au/https://raywhitecaboolture.com.au/properties/residential-for-sale/qld/caboolture-south-4510/house/2059757" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">91 Rosemary Street, Caboolture South</a> (main picture), north of Brisbane inland from Bribie Island.
Agent Peter Wright at Ray White marketed it as an opportunity for investors, families and first home buyers.
It had last sold when offered as a $250 a week rental proposition for $205,000 in 2014, reflecting a $17,000 price dip over the five years. 
Auction highlights this week.
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Nation's cheapest weekend auction result, a Caboolture South offering sells at a loss 

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There was keen bidding when a $4.18 million warehouse conversion sale was secured in Sydney's inner west at weekend auction.
The former automative workshop at Annandale (above and below) attracted five bidders, narrowly falling short of the suburb record. 
Bidding on the 274-square-metre property at <a id="LPlnk130493" class="x_OWAAutoLink" href="https://www.bresicwhitney.com.au/buy/22-nelson-street-annandale-20956" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">22 Nelson Street</a> started at $3.7 million.
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It sold to a young couple from Glebe who paid $80,000 above reserve through Chris Nunn and Nick Playfair from BresicWhitney.
They had shown about 250 groups through the property during the marketing campaign.
The Sam Crawford Architects-designed conversion won the 2016 MBA NSW winner for adaptive reuse.
"A remarkable change from an empty warehouse to a great living environment with lots of natural light throughout," the judging panel noted.
"Lowering the floor to obtain two storeys and including garages made the whole project come together.
"The mixture of recycled materials and new works well."
Filtered sunlight comes in from all angles of the home which offers 420 sqm of indoor and outdoor living space, including an open air courtyard with sawtooth beams above.
There's a second breakout living area on the mezzanine level, where there's also a king corner master suite with walk in wardrobe and dual ensuite.
The ground level features a home office with full bar and a wine cellar.
The last warehouse sale in the Sydney suburb was when The Block executive producer Julian Cress secured a record $4,275,000 through McGrath agent Damien West. Cress inherited the Johnstone Lane warehouse from his late father, the Archibald award-winning artist Fred Cress.
The four-bedroom weekend offering home came after the warehouse space was bought in 2013 by builder Joe Sidoti, director of developers SQ Projects, and wife Natalie for $1,525,000.
Sydney's top reported sale was at Woolwich.
The four bedroom house at <a id="LPlnk809740" class="x_OWAAutoLink" href="https://www.bresicwhitney.com.au/buy/5-margaret-street-hunters-hill-20425" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">5 Margaret Street</a> (below) fetched $4.3 million through BresicWhitney who had suggested a $4 million buyers' guide.
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It had last sold at $1.85 million in 2003.
A blank space offering was on offer nearby at Hunters Hill when a lawn tennis court (below) sold at weekend auction for $3.55 million, some $250,000 above reserve.
It fetched well above the $2.8 million it sold for in 2016.
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The 900 sqm holding came with plans approved for a five-bedroom house.
The bidding started at $2.9 million with two young families seeking the building opportunity at <a id="LPlnk490482" class="x_OWAAutoLink" href="https://www.wardpartners.com.au/selling/NSW/North-Shore-Lower/Hunters-Hill/House/1P1584" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">31 Woolwich Road, Hunters Hill.</a>
The grass tennis court was once part of the 1893 house next door.
Sydney’s weekend auction clearance rate rose to 56.7 per cent from 294 reported results of 540 scheduled auctions.
Click here <a href="https://www.propertyobserver.com.au/images/2019/3/18/CL-March18.jpg" target="_blank">to enlarge</a>.
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The result was up on the 54.6 per cent preliminary clearance rate reported last weekend, which was after late results revised down to 48.2 per cent by Domain.
Melbourne's top result was <a id="LPlnk58530" class="x_OWAAutoLink" href="https://www.nelsonalexander.com.au/property/762779/22-gore-street/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">22 Gore Street, Fitzroy</a> (below) which fetched $2.7 million after auction where it was passed in at $2.62 million.
The corner terrace had been listed with $2.5 million to $2.75 million price hopes through Nelson Alexander.
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The two bedroom 1860s terrace, on the corner of Little Victoria Street, had last traded in 2013 at $1,476,000.
The Domain Group reported an auction clearance rate of 54.8 per cent from 526 reported auctions of 744 scheduled auctions.
Former North Melbourne footballer Lindsay Thomas and wife Hannah didn't sell their Gowanbrae house which The Herald Sun reported passed in on a single $680,000 vendor bid. 
It now has <a id="LPlnk357820" class="x_OWAAutoLink" href="https://www.alexkarbon.com.au/buying/VIC/North/Gowanbrae/House/1P2051" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">a $735,000 asking price</a> through AlexKarbon agent Charles Bongiovanni.
The three-bedroom house, about 16kms north of the Kangaroo's training base, was bought in 2009 for $455,000 by the couple who have moved back to Adelaide after Thomas signed with Port Adelaide. 
Melbourne was the weekend's busiest capital, and had the second best clearance rate behind Sydney.
The REIV reported several Victorian suburbs and towns have recorded 100 per cent clearance rates so far in 2019 with six sales under the hammer in Warrnambool, three in Williams Landing and two in Clyde North.
The cheapest sale across the capital cities was in Melbourne at $270,000, but the price had fallen slightly since its last sale.
The <a id="LPlnk132829" class="x_OWAAutoLink" href="https://www.garypeer.com.au/search/view/1+16-newlyn-street-caulfield/6761#.XI3q2S0ZPs0" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">1/16 Newlyn Street, Caulfield</a> offering sold through Gary Peer who'd had a $250,000 to $275,000 price guidance.
The ground floor one bedroom unit had last sold at $271,000 in 2012.
There was a 36 percent sales success at Brisbane auctions from its 75 listings.
Canberra saw a 46 percent success rate from 64 listings.
There was a 50 percent success rate of the 70 listings in Adelaide.
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Sam Crawford-designed Annandale warehouse conversion attracts big weekend auction crowd

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EXPERT OBSERVATION 
Weekly auction results are by far the most timely gauge of conditions across Australia’s housing markets.
For observers of the Sydney and Melbourne markets, a Sunday isn’t complete without checking the weekend clearance rate. That said, to get the right take from these figures it’s increasingly important to apply a few adjustments first. This note gives some quick tips on how to do this and how to judge whether a result really is strong, weak or indifferent.
In interpreting weekly clearance rates, there are two main effects we need to adjust for – ‘early result’ bias and seasonality – and a third aspect that, once incorporated, gives a clearer guide to price conditions. 
Early results skew high 
Unsurprisingly, successful auctions tend to get reported earlier. Patterns depend according to data provider but for CoreLogic, preliminary results are published on the Sunday then a final estimate on the following Thursday. The difference in terms of clearance rates is on average 3pts for Sydney and 1pt for Melbourne. However, the weaker market over the last 18 months has seen more slippage than usual, averaging closer to 5.5pts for Sydney and 1.5pts for Melbourne.
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<li>So, step one, for preliminary clearance rates, deduct 5.5pts for Sydney and 1.5pts for Melbourne.</li>
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Seasonality positive heading into Autumn and Spring, negative around Christmas
The time of year also matters. Buyers and sellers come and go from the market at slightly different times, producing a regular ebb and flow to clearance rates as the balance of power shifts. For March this effect is worth about 2pts in Sydney, slightly more in Melbourne. Seasonality diminishes gradually heading into Winter, re-emerges in Spring and then turns sharply negative as buyers disappear over the Summer holiday period.
<ul>
<li>So, step two, take another 2pts off for seasonality (tweaking this as the year progresses). </li>
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Pre-auction withdrawals an important clue to size of price declines
One of the appeals of tracking auction clearance rates has been the relatively tight relationship with price growth. Generally speaking, clearance rates above 65% were typically associated with solid gains, and over 75% with outright strength, while rates below the 50-55% range were associated with price declines. 
That broad relationship still holds. However, clearance rates do not seem to be capturing the full extent of price weakness during the current correction. The lows seen late last year, in the 45-50% range, are comparable to those in 2011-12 and previous cycles, yet the pace of price declines has been somewhat faster. 
<img src="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/image/Housing_Pulse/Housing_Pulse_Bites/2019-02/Auctions-1.jpg" alt=""> 
Another aspect of the auction results – pre-auction withdrawals – may shed more light on this and provide a way of refining the measure to give a better gauge of price conditions. Historically, around one in eight properties heading to auction in Sydney has been withdrawn prior, with a much lower share – one in thirty – in Melbourne. Both have risen materially over the last year, and much more sharply than during previous downturns. In Sydney, it has been more than one in five and in Melbourne it has been about one in every fifteen.
Pre-auction withdrawals are part of the ‘uncleared’ portion of the clearance rate. However, they are likely a good indicator of a more stressed market. Whereas a passed in result may be due to bidders not taking the price above reserve, a withdrawal points to sellers assessing that there will be insufficient bidders to even justify an auction.
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How do we allow for us in our quick assessments? One relatively simple way is to calculate the ‘withdrawal rate’ – the proportion of auctions being withdrawn – and adjust the clearance rate by how this is varying to long run averages. For Sydney that adjustment is the clearance rate plus 14pts minus the withdrawal rate. For Melbourne, it is the clearance rate plus 3pts minus the withdrawal rate (the 14 and 3 in these calculations reflect the long run average withdrawal rate in each market).
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<li>So, step three, adjust both for the withdrawal rate gap to average</li>
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Conclusion
In summary, three relatively simple tweaks to the Sunday auction clearance rate give us a clearer idea of how they stack up:
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<li>A mark down for early result bias: currently –5.5pts for Sydney, –1.5pts for Melbourne; 
</li>
<li>An adjustment for seasonality: currently –2pts for both markets; 
</li>
<li>Incorporating pre-auction withdrawals: deducting the ‘withdrawal rate’ gap, the difference between the withdrawal rate and long run averages – for Sydney this is currently –8pts (22% withdrawal rate vs long run average of 14%); for Melbourne it  is –3.5pts (6.5% vs 3%). </li>
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The resulting ‘adjusted’ clearance rate can be compared against the usual benchmarks (&gt;65% associated with solid price gains, &lt;50-55% associated with price corrections) but gives a better idea of the extent of weakness. 
By way of example, Sydney’s preliminary clearance rate in the last week of February was 58.6% – knocking 5.5pts off for early result bias, 2pts of for seasonality, and a further 0.5pt for the withdrawal gap (14.5% vs avg 14%) gives an adjusted estimate of 50.6%, still a soft result but somewhat improved on the very weak reads late last year. The same adjustment for Melbourne takes a preliminary 53.1% clearance rate down to 50.1%. 
Interestingly, in both cases the main shift in early 2019 looks to be coming from a reduced rate of withdrawals rather than a lift in clearances. That may be an early sign that the pace of price declines is moderating. However, both shifts will need to be sustained and extended before auction market results are consistent with price stabilisation. 
Matthew Hassan<a href="https://westpaciq.westpac.com.au/Article/37494/14186/" target="_blank"></a> is Senior Economist at Westpac.
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Matthew_Hassan-HHWHptmrw4

Matthew Hassan's ‘how to’ guide to reading auction clearance results

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The Rose Bay harbourfront trophy home of property developer Stephen Burcher was passed in at weekend auction on a bid of $23.25 million.
It ranked as the highest bid ever made at a home auction, but it fell short of the $25 million being sought by its <a id="LPlnk574384" class="x_OWAAutoLink" href="https://theagency.com.au/17211/20b-tivoli-avenue-rose-bay" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">listing agent Ben Collier, of The Agency</a>.
Sydney’s previous auction record of $23 million was set by the sale under the hammer of the Le Manoir estate in Bellevue Hill in 2009.
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<div id="x_google_ads_iframe_/31694718/domain.com.au/news/prestige_3__container__">The Rose Bay auction reportedly had just the one bidder, a local Chinese family.</div>
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<div class="x_in-content-ad">There were four or so other interested buyers for the three-level residence redesigned by architect Bruce Stafford, amid landscaped gardens by Anthony Wyer.</div>
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<div class="x_in-content-ad"><a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/Subscriber%20strip%20ad.jpg" alt=""></a></div>
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The five-bedroom, five-bathroom battle-axe residence is set on a waterfront block with a boat shed and pool.
The highest residential sale in Sydney was <a id="LPlnk229640" class="x_OWAAutoLink" href="http://www.ppdre.com.au/buying/NSW/Eastern-Suburbs/Waverley/House/1P4472" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">10 Seaview Street, Waverley</a> (below) which sold for $4.3 million through Phillips Pantzer Donnelly inconjunction with Richardson &amp; Wrench. </div>
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<div class="x_in-content-ad"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/25/Waverley.jpg" alt=""></div>
<div class="x_in-content-ad"> </div>
<div class="x_in-content-ad">The four bedroom property last sold at $470,000 in 1994.</div>
<div class="x_in-content-ad"> </div>
<div class="x_in-content-ad">There had been $4 million price guidance with the $4.3 million reserve paid by its only registered bidder.</div>
<div class="x_in-content-ad"> </div>
<div class="x_in-content-ad">Sydney was again the stronger of the two major auction capitals, hosting 795 auctions with preliminary results showing a 58.6 per cent clearance rate, up from 54.6 per cent across 523 auctions last week. </div>
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Over the same week last year 1,259 homes were taken to auction across the city returning a clearance rate of 65.1 per cent.
There were 1,144 auctions held in Melbourne this week with preliminary results showing a clearance rate of 53.1 per cent, increasing from last week when the final clearance rate was recorded at 52.5 per cent across 657 auctions. 
Over the same week last year, the auction clearance rate was significantly higher with 70.6 per cent of the 1,606 auctions returning a successful result.
Melbourne's top revealed price was in Middle Park at $3,645,000 (below).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/25/Middle.jpg" alt="">
The price guidance had been $3 million to $3.3 million for <a id="LPlnk906991" class="x_OWAAutoLink" href="https://www.marshallwhite.com.au/property/144-canterbury-road-middle-park-756132/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">144 Canterbury Road</a>. There were four bidders.
The four bedroom brick Edwardian home last sold at $400,000 in 1992. 
A Toorak home was passed in at $3.66 million, and sold after auction at undisclosed price.
Melbourne has the nation's cheapest advised sale when <a id="LPlnk36591" class="x_OWAAutoLink" href="https://www.realestate.com.au/sold/property-apartment-vic-moonee+ponds-129899770" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">904/19 Hall Street, Moonee Ponds</a> sold for $300,000.
The one bedroom unit was sold pre-auction through Frank Dowling Real Estate who had $300,000 to $320,000 price guidance.
It last sold at $400,000 in 2014, according to CoreLogic. 
It is located on the ninth floor of the One9 apartment complex.
Across the smaller auction markets, Brisbane and Canberra were the only cities to see a rise in clearance rates week-on-week, while auction volumes increased everywhere except Perth and Tasmania over the week.
There was a $2.39 million sale in Adelaide, which had the strongest clearance sitting in the 60s. 
The $2.39 million sale was three bedroom house at <a id="LPlnk398154" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-house-sa-glenelg+north-130005010" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">21 North Esplanade, Glenelg North</a> (below).
It was a <a href="/news/mortgagee-secures-2-39-million-glenelg-north-trophy-home-sale">mortgagee offering</a> through Jamie Brown at Bernard Booth.
<img src="https://www.urban.com.au/images/2019/2/25/GLenelg%202.JPG" alt="">
The new beachfront residence came with some 600sqm of living space with views of Gulf St Vincent across three levels.
Auction clearance rates, albeit preliminary with many results yet to be advised, remained resilient despite the jump in auction stock.
</div>
The national auction volumes across the combined capital cities rose above 2,000 for the first time this year, according to CoreLogic.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/25/CL-Feb25.jpg" alt="">
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There were 2,303 homes taken to auction across the combined capital cities returning a preliminary auction clearance rate of 54.1 per cent, while the prior week saw auction volumes at 1,450 auctions held and a 51.2 per cent clearance rate. 
Over the same week last year, 3,313 auctions were held and a clearance rate of 66.8 per cent was recorded.
Last week’s final clearance rate marked the second week in a row where the final clearance rate held above 50 per cent, an improvement given the weekly auction clearance rate sat at or below 42 per cent for 5 consecutive weeks in November/December 2018, Kevin Brogan, the CoreLogic auction analyst noted.
"It will be interesting to see how clearance rates hold up now that auction volumes have started to pick up.
"The seasonal pattern over previous years has seen a similar bounce back in the auction clearance rate in February through to mid-to-late March before trending lower into autumn and winter.
There is a later Easter this year which will see a clear run through to late April.
"Considering advertised stock levels remain high and most other indicators are soft, it’s possible a similar weakening trend in auction markets will become evident next month," Brogan  tipped.
The number of properties pulled from auction remains high with CoreLogic calculating 67 were withdrawn from weekend Sydney auction.
There had been progressively more withdrawals every Saturday so far this year with 12 on February 2; 26 pulled on February 9 and 42 on February 16.
The redundant Malabar home of My Kitchen Rules judge Pete Evans and wife Nicola Robinson was among from <a href="/news/mkrs-pete-evans-withdraws-his-malabar-from-weekend-auction">withdrawn from weekend auction</a>. 
<a id="LPlnk629852" class="x_OWAAutoLink" href="http://www.ngfarah.com.au/20363275/97-austral-street-malabar" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">The five-bedroom house</a> is still up for sale through Peter Goulding and Nick Ujvary of NG Farah Little Bay.
The couple have built a new home nearby.
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Weekend auction success rates remain resilient, but no record auction sale on Rose Bay

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Melbourne was the busiest weekend auction market with 560 auctions, up from 352 auctions, returning a preliminary clearance rate of 53.5 percent.
There were 430 Sydney homes auctioned, returning a preliminary auction clearance rate of 56.1 percent, according to Domain.
The highest priced sale was in Sydney when <a href="http://www.ppdre.com.au/1P4416" target="_blank">2 Gipps Street, Bronte</a> (above) sold for $3,180,000 through Phillips Pantzer Donnelly.
The buyers guide had been $2.95 million.
There had been a nearby pre-auction Bronte sale of $5.5 million at 21 Yanko Avenue.
Domain reported the cheapest notified auction sale was in Melbourne's Melton South.
The three bedroom house at <a href="https://www.prdmelton.com.au/20170062/9-macquarie-street-melton-south" target="_blank">9 Macquarie Street</a> (below) sold through PRDNationwide Melton for $308,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/18/Melton1.jpg" alt="">
The price guidance had been $275,000 to $295,000.
Positioned on a 580 sqm lot, the home was marketed as offering "fantastic potential to someone who is a professional renovator or the handyman."
"Bring your toolbox, hammer, and paintbrush and get stuck into this great opportunity," agent Cory Cassar said.
Louis Christopher at SQM said next Saturday would see about 780 auctions for Sydney and over 1000 auctions for Melbourne.
"It will be a very large test for the market as we return to normal volume levels," he said.
Canberra returned a preliminary clearance rate of 46 percent, while Brisbane’s preliminary result came in at 38 percent, both down in clearance rates on the prior weekend.
Adelaide was the top performing market with a 69 percent success rate, with 60 scheduled auctions.
It included a renovated 1880s St Peters home which fetched $1.285 million after being listed with $1.1 million to $1.2 million hopes.
<a href="https://foxrealestate.com.au/property/2-st-peters-street-st-peters-sa-5069" target="_blank">The 2 St Peters Street home</a> (below) , listed through Kirsty Davies at Fox Real Estate, had previously traded at $470,000 in 2005.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/18/St%20Peters.jpg" alt="">
Corelogic noted national auction activity remains quieter year-on-year with 1,444 homes taken to auction across the combined capitals.
While increasing from the previous week when 928 auctions were held, it was lower than the same week last year when 1,992 auctions were held.
Preliminary results show a clearance rate of 55.2 percent.
Click here <a href="https://www.propertyobserver.com.au/images/2019/2/18/Capitals-Feb18.jpg" target="_blank">to enlarge</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/18/Capitals-Feb18.jpg" alt="">
Last week’s final clearance rate came in at 51.1 cent across the combined capitals, which CoreLogic's auction analyst Kevin Brogan noted was the first time the final clearance rate sat  above 50 percent since September 2018. 
CoreLogic put Sydney's auction clearance rate at a nine-month high.
One year ago, the national clearance rate was 66.1 percent.
Melbourne's top sale was a <a href="https://www.realestate.com.au/sold/property-house-vic-surrey+hills-130274414" target="_blank">1902 Surrey Hill charmer, Devon</a> (below) which fetched $2.84 million, followed by a 172sq m property with potential in Albert Park sold for $2.605 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/18/Devon.jpg" alt=""> 
The prime corner Beaconsfield Parade offering, called on the market at $2.555 million, had no heritage overlay 
<table style="height: 24px; width: 602px;" border="0" cellspacing="0" cellpadding="5"><tbody><tr id="x_rpMostExpensive_trMostExpensiveRow_0">
<td id="x_rpMostExpensive_tdMostExpensiveLocation_0" colspan="2">Most expensive</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_0"> </td>
</tr></tbody></table>
<table style="width: 605px;" border="0" cellspacing="0" cellpadding="5"><tbody>
<tr id="x_rpMostExpensive_trMostExpensiveRow_0">
<td id="x_rpMostExpensive_tdMostExpensiveCity_0" align="left">Sydney</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_0" colspan="2">21 Yanko Av, Bronte NSW 2024, 4 br House, PhillipsPantzer Donnelley</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_0">$5,500,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_1">
<td id="x_rpMostExpensive_tdMostExpensiveCity_1" align="left">Melbourne</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_1" colspan="2">17 Tyrone St, Camberwell VIC 3124, 3 br House, Marshall White Boroondara</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_1">$2,305,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_2">
<td id="x_rpMostExpensive_tdMostExpensiveCity_2" align="left">Adelaide</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_2" colspan="2">2 St Peters St, St Peters SA 5069, 3 br House, Fox Real Estate</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_2">$1,285,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_3">
<td id="x_rpMostExpensive_tdMostExpensiveCity_3" align="left">Brisbane</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_3" colspan="2">380 London Rd, Belmont QLD 4153, 5 br House, HAR Green Living</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_3">$1,850,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_4">
<td id="x_rpMostExpensive_tdMostExpensiveCity_4" align="left">Canberra</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_4" colspan="2">48 Drooka Cr, Crace ACT 2911, 4 br House, LJH Weston Creek</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_4">$1,461,000</td>
</tr>
<tr>
<td colspan="2">
Most affordable
</td>
<td colspan="2"> </td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_0">
<td id="x_rpMostAffordable_tdMostAffordableCity_0" align="left">Sydney</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_0" colspan="2">2 St Lawrence Av, Blue Haven NSW 2262, 3 br House, Capital One Real Estate - Central Coast</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_0">$390,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_1">
<td id="x_rpMostAffordable_tdMostAffordableCity_1" align="left">Melbourne</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_1" colspan="2">9 Macquarie St, Melton South VIC 3338, 3 br House, PRDNationwide Melton</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_1">$308,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_2">
<td id="x_rpMostAffordable_tdMostAffordableCity_2" align="left">Adelaide</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_2" colspan="2">8/7A East Pallant St, North Adelaide SA 5006, 2 br Unit, C21 The Bay</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_2">$335,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_3">
<td id="x_rpMostAffordable_tdMostAffordableCity_3" align="left">Brisbane</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_3" colspan="2">256 Wellington St, Ormiston QLD 4160, 3 br House, Whicher Pty Ltd</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_3">$500,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_4">
<td id="x_rpMostAffordable_tdMostAffordableCity_4" align="left">Canberra</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_4" colspan="2">22 Langdon Av, Wanniassa ACT 2903, 3 br House, RW Canberra</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_4">$460,000</td>
</tr>
</tbody></table>
</body></html>

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