<p>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.</p>

<p>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;</p>

<p>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;</p>

<p>“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;</p>

<p>[smartcode_project:default project_id=110291 project_image_fid=302785]</p>

<h2>Affordable product leads, premium demand remains resilient</h2>

<p>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;</p>

<p>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;</p>

<p>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.</p>

<p>Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.</p>

<p>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;</p>

<p>[smartcode_project:default project_id=148957 project_image_fid=364102]</p>

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

<p>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.</p>

<p>David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.</p>

<p>“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;</p>

<p>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.</p>

<p>[smartcode_project:default project_id=108869 project_image_fid=317905]</p>

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

<p>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;</p>

<p>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;</p>

<p>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”.</p>

<p>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;</p>


Joel Robinson

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

<p><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.</p>

<p>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.</p>

<p>Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.</p>

<p>“Brisbane was the right step for Sammut,” Sammut said.</p>

<p>“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.”</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>“We are DA approved now which is very exciting,” Sammut said.</p>

<p>“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.”</p>

<p><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" /></p>

<p>Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.</p>

<p>“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.</p>

<p>The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.</p>

<p>“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.”</p>

<p>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.</p>

<p>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.</p>


Sammut secures approval for debut Brisbane apartment development in Toowong

<p>Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.</p>

<p>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.</p>

<p>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.</p>

<p>“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.</p>

<p>“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.</p>

<p>“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.”</p>

<p>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.</p>

<p>“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.”</p>

<p>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.</p>

<p>“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.”</p>

<p>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.</p>

<p>“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.</p>

<p>Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.</p>

<p>“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.</p>

<p>“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”</p>

<p>The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.</p>

<p>“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.</p>

<p>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.</p>

<p>&nbsp;</p>


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

<p>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.</p>

<p>The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.</p>

<p>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.</p>

<p>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.</p>

<p>“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.</p>

<p>“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.”</p>

<p><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" /></p>

<p>GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.</p>

<p>“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.”</p>

<p>Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.</p>

<p>“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.</p>

<p><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" /></p>

<p>&nbsp;</p>

<p>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.</p>

<p>Green praised local policy settings.</p>

<p>“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.”</p>

<p>One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.</p>

<p>“The way we will be able to achieve economies of scale is through size,” Green added.</p>


One Living enters Sydney's new apartment market with Northern Beaches site acquisition

<p>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.</p>

<p>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.</p>

<p>Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be</p>

<p data-end="683" data-start="511">"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.</p>

<p data-end="882" data-start="690">"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."</p>

<p data-end="882" data-start="690">[smartcode_project:default project_id=134646 project_image_fid=6109]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=134646 project_image_fid=6110]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=134646 project_image_fid=6116]</p>

<p data-end="247" data-is-last-node="" data-is-only-node="" data-start="0">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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=134646]</p>


WM Residences fills gap in Mordialloc townhouse market

Clearance Rate

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<div class="std uc card-section f ucm">A knockdown house in Melbourne's Armadale that sold for $7.8 million last November attracted a $5.7 million top bid at its weekend auction.</div>
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<a href="https://www.realestate.com.au/property-house-vic-armadale-129474474" target="_blank">The four-bedroom, two-bathroom house</a> on a 1210-square metre block now comes with a $6.2 million asking price.</div>
<div class="std uc card-section f ucm"> </div>
<div class="std uc card-section f ucm">Reports when it sold last November for $7.8 million indicated<span> a crowd of 80 onlookers watched three bidders – all developers – slug it out for the large 1920s residence</span>.</div>
<div class="std uc card-section f ucm"> </div>
<div class="std uc card-section f ucm">The property was auctioned last year by RT Edgar with the buyer then losing the deposit.</div>
<div class="std uc card-section f ucm"> </div>
<div class="std uc card-section f ucm">Quoted at $7 million, RT Edgar auctioneer Mark Wridgway sold the deceased estate at $500,000 above reserve.</div>
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<p>The property went to a late bidder at its 2017 auction who stepped into the ring just before the listing was declared on the market at $7.325 million.</p>
<p>The four-bedroom house with extensive rear grounds was signalled as set to get a cosmetic renovation before being redeveloped at a later date as a single new home.</p>
</div>
<div class="std uc card-section f ucm">The weekend auction was conducted by Marshall White.</div>
<div class="std uc card-section f ucm">  </div>
<div class="std uc card-section f ucm">It last sold in 1976 for $130,000.</div>
<div class="std uc card-section f ucm"> </div>
<div class="std uc card-section f ucm">Television viewers might think that Melbourne real estate is still very strong as all five apartments in The Block Gatwick sold under the hammer at weekend auction.</div>
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<p>But its 100 percent success rate achieved by the Channel Nine renovation series was not reflected in reality, as just short of half of Melbourne vendors secured their own home sale at weekend auctions.</p>
<p>St Kilda's other six apartment weekend offerings saw just two sales.</p>
<p>The St Kilda auction success rate over the September quarter was calculated a 51 percent clearance rate by CoreLogic.</p>
<p>The national weekend auction levels sat the highest level since March with 2,919 homes taken to auction across the combined capital cities.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/10/29/CL-stats.jpg" target="_blank">to enlarge.</a></p>
<p><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/2018/10/29/CL-stats.jpg" alt=""></p>
<p>The higher volumes were largely due to Melbourne vendors who are rushing to auction prior to the Melbourne Cup Carnival slowdown where volumes will temporarily wane.</p>
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Melbourne's top sale was in Brighton where a distinctive French Provincial style home sold for $6.1 million (below).</div>
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<p data-reactid="433">The price guidance had been $5 million to $5.2 million for <a href="https://www.realestate.com.au/property/4-moule-ave-brighton-vic-3186" target="_blank">the house with 60 squares of internal living</a>.</p>
<p data-reactid="433">It was marketed as having "meticulous finishes and versatile, gallery-inspired spaces."</p>
<p data-reactid="433">It came with six bedrooms and five bathrooms.</p>
<p data-reactid="433">The house previously sold for $3,500,000 in March 2006.</p>
<p data-reactid="433">There was a $5.85 million result at 37 Elizabeth Street, Malvern of a <a href="https://www.realestateview.com.au/real-estate/37-elizabeth-street-malvern-vic/property-details-sold-residential-12146799/" target="_blank">Nicholas Day-designed home</a> (below).</p>
<p data-reactid="433"><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/2018/10/29/Malvern1.jpg" alt=""></p>
<p data-reactid="433">It had $5 million to $5.5 million price guidance from Jellis Craig.</p>
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<p>Melbourne was host to 1,706 auctions making it the second busiest weekend this year.</p>
<p>The preliminary Melbourne results show a clearance rate of 49.8 per cent, up from the revised 45.7 per cent outcome on the prior weekend, which was the lowest clearance rate seen since June 2012.</p>
<p>Over the same week last year, the Melbourne auction clearance rate was significantly higher with 70 per cent of the 1,983 auctions returning a successful result.</p>
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<p>There were 796 auctions held in Sydney, up from 675 last week, although substantially lower than the 1,215 homes taken to auction this time last year.</p>
<p>Corelogic put the preliminary results at 50.7 per cent, up from the revised 44.6 per cent last week which had seen an initial 52 percent preliminary rate.</p>
<p>"The final auction clearance rate has been sitting below 50 per cent for four consecutive weeks now, and it is likely to be the case again this week as final results are collected," CoreLogic auction analyst Kevin Brogan said.</p>
<p>Sydney one year ago had a clearance rate of 58.3 per cent.</p>
<p>The highest Sydney weekend sale was the five bedroom Yarrawin, at <a href="https://www.realestate.com.au/property-house-nsw-darling+point-129472518" target="_blank">13 Etham Avenue, Darling Point</a>, (below) which sold at its $5 million reserve shortly after its auction.</p>
<p><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/2018/10/29/darling.jpg" alt=""></p>
<p>Across the smaller auction markets, preliminary results show a weekly improvement in clearance rates across all cities except Brisbane.</p>
<p>But only Adelaide's 67 percent success rate sits higher than the same time last year when it was 62 percent.</p>
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j.ballantyne1990-6AQqhLzZaK

Armadale trophy home site listing sees possible $2.1 million price fall

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<p>The combined national capital cities returned a final auction clearance rate of just 46 percent over the last week.</p>
<p>It was weighed down by a particularly weak performance from Sydney of 44 percent.</p>
<p>The initial clearance rate advisory from CoreLogic last weekend was 52 percent.</p>
<p>It marked the fourth consecutive week where the combined capital city auction clearance rate fell below 50 per cent.</p>
<p>In Sydney, the final auction clearance rate fell slightly to 44.6 per cent last week, down from 45.1 per cent the previous week.</p>
<p><img src="https://www.urban.com.au/images/2018/10/25/CL%2021%20OCT%20Clearanct%20Rates%202.JPG" alt=""></p>
<p>There were 675 Sydney auctions held last week, increasing from the 647 the previous week, however lower than the 823 last year when a higher 61.3 per cent sold.</p>
<p>Geelong was the best performing non-capital city region last week, with 48.2 per cent of the 34 auctions successful. However, the Hunter region was host to the highest number of auctions (59).</p>
<p>There were 2,139 total homes taken to auction, having increased on the 1,851 auctions held over the week prior when a higher 47 per cent cleared. This week last year, 2,519 homes were taken to auction across the combined capitals returning a final auction clearance rate of 64.7 per cent.</p>
<p><img src="https://www.urban.com.au/images/2018/10/25/CL%2021%20OCT%20Clearanct%20Rates%201.JPG" alt=""></p>
<p>The region with the lowest clearance rate was also in Sydney, it was Sutherland.</p>
<p>Sutherland had a clearance rate of just 29.2 percent on 24 homes.</p>
<p>Indicative of Sutherland's low clearance rate is <a href="https://www.realestate.com.au/property-house-nsw-gymea+bay-129415314" target="_blank">222 Ellesmere Road, Gymea Bay </a> (pictured above).</p>
<p>With an asking price of $1,250,000 the three bedroom one bathroom home was passed in.</p>
<p>The home is set on 556 sqm and features a one car garage.</p>
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Sydney at 44% in updated weekend auction clearance rates

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<p>A turreted beachfront terrace on Port Phillip Bay topped the nation's weekend auction sales, as clearance rates tumbled across the capital cities.</p>
<p>Sydney's weekend clearance rate dropped to 44 percent according to Domain, with Melbourne not faring too much better at 48 percent.</p>
<p>The deterioration had market watchers anticipate auction clearance rates dipping into the 30s. </p>
<p><img src="https://www.urban.com.au/images/2018/10/22/CL%20OCT%2020%20Auctions.JPG" alt=""></p>
<p>SQM's Louis Christopher noted three previous times when Sydney auction clearance rates sunk into the 30s.</p>
<p>"That was in October/November 2008 during the GFC, May 2004 after the NSW vendor stamp duty was introduced and July 1989 when the cash rate hit 17 percent."</p>
<p>Domain chief analyst Nicola Powell said the trend suggested there would not be any improvement before the year is out.</p>
<p data-gtm-vis-recent-on-screen-7770372_137="3385" data-gtm-vis-first-on-screen-7770372_137="3385" data-gtm-vis-total-visible-time-7770372_137="4000" data-gtm-vis-has-fired-7770372_137="1">"I think this is what we are going to see for Sydney for the rest of the year," she told Fairfax Media.</p>
<p data-gtm-vis-recent-on-screen-7770372_137="3385" data-gtm-vis-first-on-screen-7770372_137="3385" data-gtm-vis-total-visible-time-7770372_137="4000" data-gtm-vis-has-fired-7770372_137="1"><span>Dr Andrew Wilson at My Housing Market advised the marketed had "plunged to new depths" on Saturday in the toughest market conditions since the economic shock of the GFC.</span></p>
<p data-gtm-vis-recent-on-screen-7770372_137="3385" data-gtm-vis-first-on-screen-7770372_137="3385" data-gtm-vis-total-visible-time-7770372_137="4000" data-gtm-vis-has-fired-7770372_137="1"><span>"<span>A rising crisis of confidence is now gripping markets with buyer and seller wariness," he noted.</span></span></p>
<p>CoreLogic noted there had been increase in auction volumes with 2,119 homes taken to auction across the capital cities, up from 1,851 over the previous week.</p>
<p>But it was still lower than the same time last year when 2,519 auctions were listed.</p>
<p>Preliminary CoreLogic results showed a clearance rate of 49.8 per cent across the capital cities, considerably lower than the 64.7 percent in mid-october last year.</p>
<p>"It marked the fourth consecutive week where the clearance rate has been below 50 per cent," Kevin Brogan noted.</p>
<p><span>Melbourne was host to 1,088 auctions</span>.</p>
<p>The most expensive home sold in Melbourne was a four-bedroom terrace house with rooftop turrets at <a href="https://www.realestateview.com.au/real-estate/213-beaconsfield-parade-middle-park-vic/property-details-buy-residential-12112349/" target="_blank">213 Beaconsfield Parade, Middle Park</a> (top) for $5.3 million after a $5.1 million opening vendor bid which was matched by a bidder.</p>
<p><span>Two other parties had flagged interest, but chose not to bid, and, after post auction negotiations, the sole bidder raised the offer by $200,000.</span></p>
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<p>The iconic beachfront home has a distinct heritage facade with a castle-like top providing the crowning glory to the traditional terrace.</p>
<p>There was only one bidder for the restored Victorian era residence with a contemporary B.E Architecture update on its 319 sqm lot.</p>
<p><span><span><span>There had been $5 million to $5.5 million price guidance of the once once owned in the early 1990s by the</span></span></span> IVF pioneer Professor Carl Wood who had paid $465,000 in 1990.</p>
<p><span><span><a href="https://www.realestateview.com.au/real-estate/33-35-mount-street-eaglemont-vic/property-details-buy-residential-12126177/" target="_blank">St Clair</a> (below), a landmark 1934 Eaglemont offering did not sell.</span></span></p>
<p><span><span><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/2018/10/22/Eagle.jpg" alt=""></span></span></p>
<p>The lofty 2261-square-metre offering atop Mount Eagle now comes with a $3.9 million asking price through Nelson Alexander agent Gordon Hope who had initial $3.8 million to $4 million price guidance.</p>
<p>The house at 33-35 Mount Street last sold in 1994 at $620,000.</p>
<p>In the race to auction pre-Cup Day, the Real Estate Institute of Victoria are expecting more than 1600 homes on Saturday, including the five apartment in The Block Gatwick renovation in St Kilda. </p>
<p>There were 659 auctions held in Sydney on the weekend.</p>
<p>"It is interesting to note that fewer Sydney properties sold prior to auction," CoreLogic's Kevin Brogan said, reflecting on "the softening market."</p>
<p>Sydney's highest sale was <a href="https://www.realestate.com.au/property-house-nsw-pymble-129382210" target="_blank">19 Bannockburn Road, Pymble</a> (below), which sold for $3.35 million.</p>
<p><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/2018/10/22/Pymble.jpg" alt=""></p>
<p>The 1940s house had been extended and renovated over the years into a single level four bedroom, three bathroom offering.</p>
<p>The nation's cheapest result was $105,000 for a three bedroom house in Adelaide, according to Domain.</p>
<p><span>The <a href="https://www.realestateview.com.au/real-estate/6-redcliffe-street-davoren-park-sa/property-details-buy-residential-12128932/" target="_blank">6 Redcliff Street, Davoren Park offering</a> was a mortgagee sale.</span></p>
<p><span>It had sold at $105,000 in 2007.</span></p>
<p><span>In 2013 it was a $210 a week rental.</span></p>
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jchancellor-FAypfDUnLy

Spring auctions could slump into the 30s

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<p>Of all the capital cities, Perth remains the one with the weakest clearance rate.</p>
<p>The initial results came in at 13 percent of the homes listed for weekend auction.</p>
<p>Some 32 homes were taken to auction in Perth but only two were confirmed as sold in the 15 available auction results.</p>
<p>There were some 17 auction results still unavailable.</p>
<p><img src="https://www.urban.com.au/images/2018/10/15/CL%20OCT%2014%20AUCTIONS%201.JPG" alt=""></p>
<p>This compares to an overall clearance rate of 50 percent on the 1,850 homes taken to auction across the combined capital cities this week.</p>
<p>Compared to last week, where the final auction clearance rate came in at 49.5 per cent across a slightly lower 1,817 auctions.</p>
<p><img src="https://www.urban.com.au/images/2018/10/15/CL%20OCT%2014%20AUCTIONS%203%20uncut.JPG" alt=""></p>
<p>In Perth <a href="https://www.realestate.com.au/property-house-wa-subiaco-129364294" target="_blank">10 Allora Avenue, Subiaco</a> (pictured above in title), did not sell despite the listing stating "MUST BE SOLD."</p>
<p>The four bedroom two bathroom house is set on a 309 sqm parcel and had no available asking price.</p>
<p><span>Last sold in 2015 for $1,475,000, the home has been on and off market since 2017 and was listed for rent at $1000 per week as recently as September.</span></p>
<p><img src="https://www.urban.com.au/images/2018/10/15/CL%20OCT%2014%20AUCTIONS%205.JPG" alt=""></p>
<p>Another home that was unsuccessful at auction in Perth this weekend is <a href="https://www.realestate.com.au/property-unit-wa-highgate-129322870" target="_blank">24/288 Lord Street, Highgate</a> (pictured above).</p>
<p>The "brand new" two bedroom, 1 bathroom unit built in 2015 was asking for offers around $369,000.</p>
<p>Set on 85 sqm the apartment that previously held that space sold for $485,000 in 2013, making this asking price a drop of over $100,000.</p>
<p><img src="https://www.urban.com.au/images/2018/10/15/CL%20OCT%2014%20AUCTIONS%206.JPG" alt=""></p>
<p>Even one of the properties that sold couldn't be classified as a success, <a href="https://www.realestate.com.au/property-house-wa-ascot-129333214" target="_blank">28 The Riverwalk, Ascot</a> (pictured above) was sold by the mortgagees for a loss.</p>
<p>The home sold for $900,000 a loss of $220,000 from its sale price of $1.12 million in 2007.</p>
<p>The four bedroom one bathroom house is set on a 495 sqm block and has been listed on and off since 2010.</p>
<p><img src="https://www.urban.com.au/images/2018/10/15/CL%20OCT%2014%20AUCTIONS%207.JPG" alt=""></p>
<p>The only other home to succeed in selling was a deceased estate located at <a href="https://www.realestate.com.au/sold/property-house-wa-marangaroo-129344830" target="_blank">39 Mereworth Way, Marangaroo</a> (pictured above).</p>
<p>Set on 720 sqm, the three bedroom one bathroom home is <span>zoned R20/40 and according to the listing has potential for 3 townhouse/units.</span></p>
<p><span>Last sold for $99,000 in 1989 the home was sold via an online auction.</span></p>
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Perth agents secure just two sales in 13 percent weekend auction success rate

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<p>More than half of the homes being auctioned over recent weekends are failing to sell under the hammer as home loans have become tougher to secure.</p>
<p>It seems set to happen for a third consecutive weekend, CoreLogic forecast after the initial weekend results.</p>
<p>But as the tide turns, the season’s first beach bathing box auction on Melbourne's Port Philip Bay saw a $230,000 sale (top).</p>
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<p>The sale was $15,000 above the reserve price for <a id="LPlnk428203" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-house-vic-safety+beach-129325854" target="_blank" data-auth="NotApplicable">No. 47 beach box</a><a id="LPlnk257994" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-house-vic-safety+beach-129325854" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable"> </a>at Safety Beach, on the Mornington Peninsula.</p>
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<p>The auction kicked off with a $180,000 bid, with three bidders competing when auctioned through Ray White Rosebud agent Shane Fox.</p>
<p>There were 1,850 homes taken to auction across the combined capital cities, returning a preliminary auction clearance rate of 50.7 per cent.</p>
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<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/10/15/Cap-Oct15.jpg" target="_blank">to enlarge.</a></p>
<p><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/2018/10/15/Cap-Oct15.jpg" alt=""></p>
<p>"It’s likely that the final result will see its usual downward revision as more results are collected and come in below 50 per cent for the third consecutive week," CoreLogic auction analyst Kevin Brogan said.</p>
<p>Last week, the final auction clearance rate came in at 49.5 per cent from 1,817 auctions.</p>
<p>Last year, both clearance rates and volumes were significantly higher with 67 percent of the 2,525 auctions finding buyers under the hammer.</p>
<p>Units were much more successful at weekend auction with 58 per cent selling, while only 48 per cent of houses sold, while the same week last year saw virtually the same success rate.</p>
<p>AMP Capital's chief economist Shane Oliver suggested the spring 2018 auction trend was consistent was "further falls in home prices."  </p>
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<p>There were 914 auctions held in Melbourne with a preliminary clearance rate of 52.1 per cent.</p>
<p>Deepdene had Melbourne's priciest result with a $2.7 million sale.</p>
<p>The home at <a id="LPlnk857606" class="x_OWAAutoLink" href="https://www.realestate.com.au/sold/property-house-vic-deepdene-129323778" target="_blank" data-auth="NotApplicable">4 Abercrombie Street</a> (below) had been on the market several months ago initially with a $3 million price guide which was then reduced for the auction to $2.4 million to $2.6 million hopes.</p>
<p><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/2018/10/15/deepd.jpg" alt=""></p>
<p>Another sale was a Safety Beach waterfront vacant lot with its own pontoon and 15m berth</p>
<p>The block at <a id="LPlnk909652" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-residential+land-vic-safety+beach-202220766" target="_blank" title="www.realestate.com.au" rel="noopener noreferrer" data-auth="NotApplicable">32 Clipper Quay, Safety Beach</a> in the Martha Cove estate sold at an undisclosed price having been listed with $1.795 million to $1,974,500 expectations.<span class="x_image-source"><br></span></p>
<p>The Prahran investment property of former WMTA Light Heavyweight World Thai boxing champion Nick ‘‘Special K’’ Kara remains for sale (below).</p>
<p><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/2018/10/15/kara.jpg" alt=""></p>
<p>Jellis Craig father-son agents Chris and Michael Hingston had a $1.25 million to $1.35 million price guide for its weekend auction.</p>
<p>The contemporary three bedroom Edwardian property at <a id="LPlnk535512" class="x_OWAAutoLink" href="https://www.realestateview.com.au/real-estate/16-fern-avenue-prahran-vic/property-details-buy-residential-12107313/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">16 Fern Avenue</a> last sold at $322,500 in 1999.</p>
<p>Sydney was host to 645 auctions this week with preliminary results showing a clearance rate of 52 per cent.</p>
<p>Sydney's highest auction price was $4.35 million for a newly built house (below) at <a id="LPlnk620364" class="x_OWAAutoLink" href="https://www.realestateview.com.au/real-estate/2-mirrabooka-avenue-strathfield-nsw/property-details-buy-residential-12113096/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">2 Mirrabooka Avenue, Strathfield</a>.</p>
<p><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/2018/10/15/strath1.jpg" alt=""></p>
<p>The five bedroom, six bathroom home, on 700 sqm, came with a home theatre and a wine cellar.</p>
<p>Across the smaller auction markets, the highest preliminary clearance rate was recorded in Canberra where 63.6 per cent of the 55 reported auctions were successful, followed by Adelaide were 53.3 per cent of homes sold.</p>
<p>Brisbane, where there was a 35 percent clearance rate, secured the nation's cheapest home sale.</p>
<p>It was a $281,000 sale of three bedroom house at <a id="LPlnk599267" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-house-qld-kallangur-129272198" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">15 Boyanda Drive, Kallangur</a>.</p>
<p>The two level home is 25km to Brisbane City, and a short drive to the North Lakes City.</p>
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Safety Beach bathing box sale headlined weekend auction results

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<p>Auction activity across the combined capital cities increased after last weekend's grand final and public holiday slowdown.</p>
<p>Some 1,809 homes taken to auction, almost doubling from the 895 prior tally last weekend.</p>
<p>The preliminary auction clearance rate was 53.7 per cent, well up on the final auction clearance rate of 45.8 per cent of the long weekend.</p>
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<p><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/2018/10/8/Logic-Oct8.jpg" alt=""></p>
<p>It had been the lowest clearance rate seen since June 2012 when there was a 42 per cent result.</p>
<p>Compared to one year ago, clearance rates and auction volumes continue to track lower with the same week last year recording a 64.4 per cent clearance rate across 2,318 auctions.</p>
<p>Melbourne saw 904 homes taken to auction with a preliminary 54.4 per cent success rate.</p>
<p>The most expensive house sold in Victoria was <a href="https://www.realestateview.com.au/real-estate/14-christowel-street-camberwell-vic/property-details-sold-residential-12103593/" target="_blank">14 Christowel Street, Camberwell</a> (above) which fetched $3.125 million.</p>
<p>It was at the lower end of the Noel Jones agency price guidance which had been $3.1 million to $3.4 million.</p>
<p>The five bedroom 1920s home sat on 1172 sq m with towering Copper Beech tree in its front yard.</p>
<p>There was a blue slate fireplace in the 30 feet long grand sitting room.</p>
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<p>Sydney returned a preliminary auction clearance of 53.5 per cent with 606 Sydney homes taken to auction.</p>
<p>It's highest sale was $3.7 million pre-auction through Ray White of a grand 1930's Stockbroker Tudor style home at Warrawee.</p>
<p>Framed by parterre gardens, <a href="https://www.realestate.com.au/sold/property-house-nsw-warrawee-129265262" target="_blank">the five bedroom John Brogan designed home</a> at 32 Heydon Avenue (below) had last sold at $1.78 million in 2003.</p>
<p><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/2018/10/8/WARRA.jpg" alt=""></p>
<p>The dearest Sydney offering to sell under the auction hammer was at Bronte when a home last traded six decades ago fetched $3,565,000.</p>
<p>The four-bedroom property on a 452 sqm block at <a href="https://www.realestate.com.au/property-house-nsw-bronte-129260266" target="_blank">8 Gardyne Street </a>(below) fetched $65,000 above reserve.</p>
<p><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/2018/10/8/gardyne.jpg" alt=""></p>
<p class="standfirst-content">Phillips Pantzer Donnelley’s Alexander Phillips had three buyers register and all participated, but it was a struggle, The Sunday Telegraph reported.</p>
<p>Adelaide was the best performing capital city with a 66.1 per cent success rate across 62 auction results, followed by Canberra, where 63.9 per cent of the 61 reported auctions were successful.</p>
<p>Adelaide's offering fetched from the $305,000 pre-auction sale of the three bedroom home at <a href="https://www.realestate.com.au/sold/property-house-sa-wingfield-129300854" target="_blank">15 Fourth Street, Wingfield</a> to $1,255,000 for the five bedroom house at <a href="https://www.realestate.com.au/property-house-sa-westbourne+park-129304790" target="_blank">53 Marlborough Road, Westbourne Park</a>, which had $990,000 price guidance</p>
<p>The 1968 single level brick Wingfield house had sold at $205,000 in 2007.</p>
<p>At $210,000, Brisbane's fringe had the cheapest reported result when <a href="https://www.realestateview.com.au/real-estate/22-ash-avenue-laidley-qld/property-details-buy-residential-12096015/" target="_blank">22 Ash Avenue, Laidley</a> found its buyer.</p>
<p>The four bedroom home was a mortgagee in possession offering.</p>
<p>It previously traded in 2009 at $129,000.</p>
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Auction levels bounce back

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<p><span>Capital city buyers took a break from auctions on the long weekend, accompanied by a significant drop in auction listings.</span></p>
<p><span>But coastal offerings were much appreciated by buyers seeking cheaper dress circle opportunities.</span></p>
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<p>There was a $726,000 auction sale at <a id="x_mcntLPlnk881881" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/sold/property-house-nsw-wooloweyah-129200650" target="_blank" data-auth="NotApplicable">Wooloweyah near Yamba</a> (above) in northern NSW.</p>
<p>"Only two sales have taken place on the lakefront in Wooloweyah during the past two years," Ray White agent Daniel Kelly noted.</p>
<p>The three bedroom lakefront 131 Lakes Boulevard offering last sold in 2011 at $460,000 after 200 plus days on market.</p>
<p>Further north in tropical Queensland, a Kinka Beach waterfront reserve home near Yeppoon was snapped up for $245,000.</p>
<p>The three bedroom <a id="x_mcntLPlnk428438" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/sold/property-house-qld-kinka+beach-129156442" target="_blank" data-auth="NotApplicable">886 Scenic Highway home</a> (below), on Shoal Bay, was offered for sale by mortgagees.</p>
<p>It had last sold at $320,000 in 2005.</p>
<p><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/2018/10/2/shoal.jpg" alt=""></p>
<p>"The highest home appears structurally sound and has plenty of internal space to make a full upgrade on the home worth while," Ray White agent Lindsay Lodrick suggested </p>
<p>Capital city auction activity took a back seat to the AFL and NRL Grand Finals, with buyer disinterest sending the preliminary combined capitals clearance rate below 50 percent for the first time since December 2012.</p>
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<p>Preliminary results showed a clearance rate of just 49 per cent, according to CoreLogic, down from 52 per cent last week.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/10/2/CL-Oct2.jpg" target="_blank">to enlarge.</a></p>
<p><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/2018/10/2/CL-Oct2.jpg" alt=""></p>
<p class="x_mcntstandfirst-content">Sydney’s auction clearance rate plummeted to 45 per cent, its lowest level in a decade.</p>
<p class="x_mcntstandfirst-content">There were just 380 Sydney auctions scheduled — well down on last Saturday’s super Saturday of 800.</p>
<p class="x_mcntstandfirst-content">CoreLogic auction commentator Kevin Brogan said the 45 percent result was based on the 223 that had been reported.</p>
<p class="x_mcntstandfirst-content">The preliminary clearance rate was 14 per cent down on prior Saturday.</p>
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<p>Melbourne saw the biggest drop in volumes with only 69 homes taken to auction returning a preliminary auction clearance rate of 55 per cent, while last week there were 1,160 auctions held and the final clearance rate came in at 53 per cent. </p>
<p>This time last year, 122 auctions were held across the city.</p>
<p>Real Estate Institute of Victoria figures show the number of auctions tumbled from 4132 in September 2017 to 3260 in September 2018, with fewer auctions on every weekend compared to a year prior.</p>
<p>Melbourne's top sale was at Templestowe Lower where a four-bedroom family home passed in at $1.25 million, but the sold for $1.28 million.</p>
<p>The <a class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/property-house-vic-templestowe+lower-129218522" target="_blank" data-auth="NotApplicable">369 George Street, Templestowe Lower</a> offering sold within its advertised price range of $1.19 million to $1.29 million.</p>
<p>The nation's top sale was the pre-auction sale of <a id="x_mcntLPlnk767878" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/sold/property-house-nsw-lindfield-129259878" target="_blank" data-auth="NotApplicable">22 Gladstone Parade, Lindfield</a> (below) which saw $3.65 million secured by Savills agent Stephanie Hearn.</p>
<p><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/2018/10/2/lind.jpg" alt=""></p>
<p>The modern family home came with five bedrooms and five bathrooms.</p>
<p>CoreLogic noted it was one of 63 pre-auction deals secured by Sydney agents.</p>
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<p>The highest sale under the hammer was on the Parramatta River at <a id="x_mcntLPlnk663968" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/property-house-nsw-chiswick-129147858" target="_blank" data-auth="NotApplicable">41 Burns Crescent, Chiswick</a> (below) which sold for $3,550,000.</p>
<p><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/2018/10/2/parra.jpg" alt=""></p>
<p>The property had been in the same family for 55 years — they’d built the house which attracted three bidders from the four registered parties.</p>
<p class="x_mcntstandfirst-content">The Sunday Telegraph reported the written reserve was adjusted lower and the buyer upped his offer by $50,000, sealing the deal with plans for rebuilding.</p>
<p>A six-bedroom, six-bathroom waterfront reserve home at <a id="x_mcntLPlnk375106" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/property-house-nsw-wollstonecraft-129141170" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">16 Mulray Ave, Wollstonecraft</a>, failed to sell at weekend auction with just the one registered bidder.</p>
<p>Its Stone agents Annika and Aaron Bongiorno had given a price guide of $5.7 million.</p>
<p>Brisbane had the nation's cheapest capital city outcome when $260,000 was paid for 12 Kirton St, Redbank Plains.</p>
<p><a id="x_mcntLPlnk208006" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/property-house-qld-redbank+plains-129219718" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">The three bedroom property</a> was marketed as needing some TLC.</p>
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Capital city buyers take a break from auctions on long weekend

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<p class="first-para">Sydney’s auction clearance rate has officially fallen below 50 per cent, with fewer than half of the houses selling under the hammer, according to CoreLogic.</p>
<p class="first-para">Just 49 percent of the 170 notified results were sale successes, with 70 offerings yet to have their auction outcome reported.</p>
<p>Sydney apartments did perform a little better than houses coming in with a 56 percent success rate, according to CoreLogic.</p>
<p><img src="https://www.urban.com.au/images/2018/7/16/CL%20weekly%20update%201.JPG" alt="">Sydney's inner south west was the weakest region with a clearance rate of just 38 percent.</p>
<p>The Domain Group also reported a weakening clearance rate of 47.8 per cent from 347 scheduled auctions and its 198 reported Saturday results.</p>
<p>There were 1,172 homes taken to auction across the nation's capital cities, returning a preliminary national auction clearance rate of 55.8 per cent.</p>
<p>The volumes were down from the prior week's 1,411 auctions.</p>
<p>The revised clearance rate was 52.6 per cent.</p>
<p>Over the same week last year, auction volumes were higher with 1,627 homes returning a success rate of 69.4 per cent.</p>
<p>CoreLogic auction analyst Kevin Brogan noted the national average had remained within the low to mid 50 per cent range for nine consecutive weeks.</p>
<p><span>And in Sydney he said there had been three Saturday results revised to sub-50 percent within the period.</span></p>
<p>In Melbourne, Australia’s continued largest auction market, a preliminary auction clearance rate of 60 percent was recorded across 560 auctions, bouncing up from 56.1 per cent across a higher 631 auctions in the prior week.</p>
<p>One year ago, the clearance rate was a stronger 74.9 per cent across 756 auctions.</p>
<p>Melbourne's top reported weekend sale was at Lower Plenty where two developers completed.</p>
<p><img src="https://www.urban.com.au/images/2018/7/16/CL%20weekly%20update%202.JPG" alt=""></p>
<p><span>Glenauburn, a six bedroom home with p</span><span>olished timber floors, leadlight windows and doors, dark timber panelled walls, plate and picture rails, open fire places, decorative cornice and ornate, exquisitely detailed ceilings sits on a </span><span>huge 2611 sqm block.</span></p>
<p><span><span>There are "no heritage encumbrances in place," </span></span>Rocco Montanaro, from Morrison Kleeman, the selling agent advised.</p>
<p>The mooted <a href="https://www.realestateview.com.au/real-estate/26-28-glenauburn-road-lower-plenty-vic/property-details-sold-residential-11930364/" target="_blank">26-28 Glenauburn Road</a> price range was offered as between $2.2 million and $2.42 million.</p>
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<p>There were 403 Sydney auctions this week returning a preliminary auction clearance rate of 52.4 per cent, compared to 50.1 per cent across 552 last week, and 69.2 per cent across 609 auctions one year ago.</p>
<p>Results across the smaller auction markets were varied, with 67.5 per cent of homes successful at auction in Canberra, while Brisbane returned a preliminary clearance rate of 36 per cent.</p>
<p>Canberra's priciest result was $1,167,000 for a four bedroom home at <a href="https://www.realestate.com.au/sold/property-house-act-o%27connor-128601662" target="_blank">6 Hemmant Street, O'Connor</a> (pictured above).</p>
<p>It last sold at $843,000 in 2012.</p>
<p>It sits on a <span>887 sqm block which has an official l</span><span>and value of $656,000.</span></p>
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Sydney slips to sub-50 percent auction success rate

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<p>The top national result under the hammer was an 1880s Paddngton terrace that fetched $4.35 million.</p>
<p>Located at <a id="x_mcntLPlnk342147" href="https://www.realestate.com.au/sold/property-house-nsw-paddington-128430510" target="_blank">244 Moore Park Road</a>, the five bedroom home (above) had undergone a "luxurious renovation" since sold in 2010 at $1,815,000.</p>
<p>Council records show a $500,000 plus renovation was approved in 2013.</p>
<p>The Phillips Pantzer Donnelley selling agent Catherine Dixon had offered a $4 million buyers' guide.</p>
<p>There was a pool on the 278 sqm block offered by the owners of cosmetic firm the Manse Clinic, John and Naomi Obiri-Asare’</p>
<p>Only one buying party, a Surry Hills family, registered to bid.</p>
<p>In Melbourne the Fitzroy home of singer songwriter, Felix Riebl, a four-level townhouse (just off Brunswick Street, fetched $1.157 million at weekend auction.</p>
<p>Nelson Alexander Fitzroy auctioneer Arch Staver announced the property (below) on the market at $990,000 after a $900,000 opening vendor bid.</p>
<p><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/2018/7/2/reibl.jpg" alt=""></p>
<p>Riebl, who performed in Spain on the weekend while touring Europe, at the Clownia Festival in Cataluyna, had paid $615,000 for his first home, a modern home at <a href="https://www.realestate.com.au/sold/property-townhouse-vic-fitzroy-128582174" target="_blank">327 Young Street</a>, in 2005 shortly after The Cat Empire's second album Two Shoes debuted at No.1 on the ARIA albums chart. </p>
<p>The auction result on the rental property came after competition between four bidders, according to the Herald Sun. </p>
<p>He is now looking for a family home, agent Arch Staver advised..</p>
<p>The agency had quoted a $900,000 to $990,000 buyers' guide.</p>
<p>Melbourne's top reported result was nearby when a four bedroom renovated home in Northcote fetched $2.42 million, after being declared on the market at $2.35 million.</p>
<p>The <a href="https://www.realestate.com.au/property-house-vic-northcote-128504190" target="_blank">77 Roberts Street</a> offering (below) was marketed by Jellis Craig as "boasting architect designed interiors."</p>
<p><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/2018/7/2/fitzroy.jpg" alt=""></p>
<p>The buyers' guidance had been $2.2 million.</p>
<p>Last traded at $550,000 in 2005, three buyers competed for the offering that sits within the Northcote High zone.</p>
<p>Domain advised the nation's weekend's cheapest sale was $351,000 in a pre-auction sale at West Footscray.</p>
<p>The price guidance on the two bedroom unit at 3/705 Barkly Street (below), listed through Galldon Real Estate, had been $315,000 to $346,000.</p>
<p><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/2018/7/2/footscray.jpg" alt=""></p>
<p>It had been advertised as a $290 a week rental in 2016. It sold at $300,000 in 2010 when offered as a $280 a week rental.</p>
<p>The last week of June saw fewer homes taken to auction, as the vendor hibernation continues.</p>
<p>CoreLogic calculated 1,669 auctions held across the combined capital cities, down from the 1,849 held over the week prior.</p>
<p><img src="https://www.urban.com.au/images/2018/7/2/CL%20Graph.JPG" alt=""></p>
<p>The preliminary clearance rate sat nationally at 56.7 per cent.</p>
<p>The year-to-date average of 60.5 per cent was a "very different result to the first half of 2017," CoreLogic auction analyst Kevin Brogan said.</p>
<p>There had been a 72.5 per cent success rate over the corresponding six month period last year.</p>
<p>"The 2018 auction market so far has demonstrated the weakening property market, with the success rate of auctions continuing to fall through the first half of the year; returning the lowest weekly clearance rates seen since 2012 as property values decline in turn," he said.</p>
<p>The unit market over the first six months of 2018 sat at 65.1 per cent; maintaining strength over the dearer detached house market where an average of 59.5 per cent of houses were sold in the past six months.</p>
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<p>There were 795 Melbourne homes taken to auction this week, returning a preliminary auction clearance rate of 60.3 per cent.</p>
<p>Sydney’s preliminary clearance rate was 56.4 per cent with 631 auctions held. </p>
<p>Canberra was the best performing in terms of clearance rate with 65.6 per cent of auctions successful, while only 25 per cent of auctions cleared across Perth.</p>
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Paddington tops weekend auction results with weakening continuing across the capital cities

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<p>The former Olympic team chef de mission, Kitty Chiller, sold her East Melbourne property, but only after negotiations followed its weekend auction.</p>
<p>The two-bedroom townhouse attracted just the one bidder, an increasing trend at auctions across the capital cities.</p>
<p>Listed with $1.75 million to $1.925 million guidance, Gary Peer agents Adam Paykel and Darren Krongold sold the 1975-built property after it was passed in at $1.66 million.</p>
<p>The sale price was not disclosed.</p>
<p><a id="x_mcntLPlnk582999" class="x_mcntx_mcntOWAAutoLink x_mcntOWAAutoLink" href="https://www.realestate.com.au/sold/property-townhouse-vic-east+melbourne-128464106" target="_blank">The Hotham Street property</a> (top) had been tenanted for 16 years having been in her family since 1981 when it cost $128,000, The Herald Sun reported.</p>
<p>Even with four registered bidders, there were post-auction negotiations needed to secure a $2,425,000 Drummoyne sale in Sydney.</p>
<p>The three bedroom <a id="x_mcntLPlnk17429" class="x_mcntx_mcntOWAAutoLink x_mcntOWAAutoLink" href="https://www.realestate.com.au/property-apartment-nsw-drummoyne-128461950" target="_blank">9/68a-70 St Georges Crescent </a>penthouse (below) had been passed in at $2.3 million. The price guide had been $2.35 million.</p>
<p><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/2018/6/25/drum1.jpg" alt=""></p>
<p>Lynsey Kemp, of Belle Property negotiated a post-auction sale to a buyer from Hong Kong who plans to use the property as a Sydney base.</p>
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<p>The highest preliminary clearance rate was again recorded in Adelaide where 68 per cent of the 50 reported auctions were successful, followed by Canberra, where 65.2 per cent of the 46 reported auctions cleared.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/6/25/june-25.jpg" target="_blank">to enlarge.</a></p>
<p><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/2018/6/25/june-25.jpg" alt=""></p>
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<p>There was an unusual auction occurrence when a Watson house sold for $761,000 under no-reserve auction conditions with the proceeds going to charity.</p>
<div>There were 25 registered bidders when an original 1960s Canberra red brick home which had a staggering 45 contracts issued during the Ray White campaign.</div>
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<div>Local Canberra man Lionel Moore, who passed away in March, willed his home to the children’s cancer charity, Camp Quality.</div>
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<div>The 664sq m property at <a id="x_mcntLPlnk952191" class="x_mcntx_mcntOWAAutoLink x_mcntOWAAutoLink" href="https://www.realestate.com.au/property-house-act-watson-128495578" target="_blank" rel="noopener noreferrer">5 Harding Street, Watson</a> (below) had been owned by Mr Moore for more than five decades.</div>
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<p>The preliminary national clearance rate sat at to 58.7 per cent this week, after last week saw the final clearance rate revise down to just 52.4 per cent. </p>
<p>Auction volumes were lower over the week with 1,842 homes taken to auction across the capital cities, down from 2,002 last week as the winter hibernation sets in.</p>
<p>Melbourne was host to 946 auctions over the week, returning a preliminary clearance rate of 62.3 per cent. Over the same week last year, there were 1,047 auctions held in Melbourne, returning a clearance rate of 70.7 per cent.</p>
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<p>There were 635 auctions held in Sydney returning a preliminary auction clearance rate of 55.3 per cent. </p>
<p>"This time last year, 68.2 per cent of the 939 auctions held were successful," CoreLogic auction analyst Kevin Brogan noted.</p>
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<div>The nation's top seller was a pre-auction sale at Turramurra in Sydney's upper North Shore (below).</div>
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<div><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/2018/6/25/turra.jpg" alt=""></div>
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<p>The double brick residence designed and built by Chateau Architects and Builders for its 1220sqm level block at <a id="x_mcntLPlnk484337" class="x_mcntx_mcntOWAAutoLink x_mcntOWAAutoLink" href="https://www.realestate.com.au/property/29-trentino-rd-turramurra-nsw-2074" target="_blank" rel="noopener noreferrer">29 Trentino Road</a> sold for $4.3 million through Di Jones Real Estate.</p>
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