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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Melbourne agents offered a weekend auction smorgasbord of culinary-connected inner city offerings.
<a href="https://www.realestate.com.au/property-house-vic-carlton+north-125308038" target="_blank">The Carlton North home</a> (above) of late Japanese restaurateur, Kunihiro “Kuni” Ichikawa fetched $2.3 million.
There were eight bidders seeking the 278 sqm two bedroom Reserve Street offering which was built for him in 1967 with Japanese influences.
Alexkarbon selling agent Tony Downward noted Ichikawa introduced sushi to Australia after opening Kuni’s in the CBD in 1977.
He lived there until he died early last year aged 67.
There was a $740,000 sale of an apartment above the Collingwood eatery, The Noble Experiment.
<img src="https://www.urban.com.au/images/2017/05/21/Screen%20Shot%202017-05-22%20at%208.18.52%20AM.png" alt="">
<a href="https://www.realestate.com.au/sold/property-apartment-vic-collingwood-125311910" target="_blank">The apartment</a>, (above) located in the old Comarty's building located on the corner of Smith and Otter Streets, had traded in 2007 at $497,500.
The pre-auction selling range was $700,000 to $770,000.
At Fitzroy North a three-bedroom apartment atop an Italian restaurant attracted keen interest.
<img src="https://www.urban.com.au/images/2017/05/21/Screen%20Shot%202017-05-22%20at%208.20.39%20AM.png" alt="">
Nelson Alexander Fitzroy auctioneer Arch Staver said the $975,000 price was $225,000 above reserve when an investor outbid four others to win the keys of <a href="https://www.realestate.com.au/sold/property-house-vic-fitzroy+north-125312074" target="_blank">the Queens Parade offering</a> (above).
The weekend preliminary auction average clearance rate has risen again to 77 percent on the second last Autumn weekend, according to CoreLogic’s latest update.
Auction activity across the combined capital cities increased this week too, up from 2,409 auctions last week, to 2,794 this week, making it the sixth busiest week so far this year.
The clearance rate across the combined capitals was 77.2 percent, increasing from a final clearance rate of 72.8 percent over the previous week.
At the same time last year, both volumes (1,920) and the clearance rate (68.9 percent) were lower.
The two largest auction markets, Melbourne and Sydney, saw their preliminary clearance rates rise, with Sydney at 80.7 percent and Melbourne at 79.2 percent, although Kevin Brogan, the CoreLogic auction analyst said that Sydney, and to a lesser extent Melbourne, tend to revise down over the week when the remaining results are captured.
Over the previous week, Sydney’s preliminary clearance rate of 79.4 percent was revised down to 74.5 percent when finalised.
Across the smaller capital city markets, Brisbane was the only city where preliminary clearance rates fell week-on-week.
Sydney was host to 1,053 auctions this week and a preliminary clearance rate of 80.7 percent was recorded, rising from 74.5 percent last week across 960 auctions.
One year ago, 735 auctions were held across Sydney and 73.2 percent were successful.
It was the strongest result since April 9.
Eight of the 15 sub-regions recorded clearance rates of at least 80 percent with the stand outs being Sydney's Inner West 88.9 percent and Sutherland's 88.6 percent.
A Sydney Harbour waterfront house at Northbridge sold for $9.3 million making it the nation’s most expensive weekend auction sale.
<img src="https://www.urban.com.au/images/2017/05/21/Screen%20Shot%202017-05-22%20at%208.24.01%20AM.png" alt="">
The <a href="https://www.realestate.com.au/property-house-nsw-northbridge-125329386" target="_blank">67 Coolawin Road</a> home (above) on 1890 sq m was marketed through Shead Property as a "once in a generation opportunity." 
The Middle Harbour home has an extensive garden that leads to a private boat house and pontoon along with wide level garden frontage.
There were 1,323 auctions held in Melbourne this week with a preliminary clearance rate of 79.2 percent. 
This week’s result shows a rise in the clearance rate for the city, after Melbourne’s final clearance rate was recorded at 75 percent last week, the lowest clearance rate for the city so far this year.
Over the same week last year, Melbourne’s clearance rate was 70 percent across 843 auctions.
Melbourne's highest was a four bedroom 1907 Queen Anne Federation house at Camberwell.
<img src="https://www.urban.com.au/images/2017/05/21/Screen%20Shot%202017-05-22%20at%208.25.26%20AM.png" alt="">
Agents secured $5.02 million for Croydon at <a href="https://www.realestate.com.au/sold/property-house-vic-camberwell-125286186" target="_blank">28 Kintore Street</a>, (above) positioned in the highly-prized Tara Estate close to Junction shopping.
Last sold in 1994 for $650,000, and before that $116,000 in 1979, the century-old charmer set on almost 900q m, was offered through Jellis Craig who had a price guide of $4.5 million to $5 million.
The Herald Sun reported there had been a $5 million reserve for the home that attracted three bidders.
Melbourne had the cheapest sale of the nation when a two bedroom villa at Melton South sold for $251,000.
<img src="https://www.urban.com.au/images/2017/05/21/Screen%20Shot%202017-05-22%20at%208.28.33%20AM.png" alt="">
Located at <a href="https://www.realestate.com.au/property-house-vic-melton+south-125247254" target="_blank">1/18 Toolern Street</a>, the 1980-built villa was marketed as suitable for first home buyers, investors and downsizers.
It last sold at $207,000 in 2012.
There is 90 sqm space with indoor/outdoor zones comprising of central lounge/meal area that opens to an alfresco courtyard.
The property was offered through Raine &amp; Horne agents Kieran Carson and Genna Di Pasquale.
Of the Melbourne sub-regions, seven of the nine regions recorded clearance rates at or above 75 percent, with the highest clearance recorded across the Outer East, with preliminary results showing 87.8 percent of the 98 results were successful.
There were 160 Brisbane homes taken to auction this week, with 93 results reported so far. 
A six bedroom Clayfield house sold for $1.75 million through Ray White agent Damon Warat was Brisbane’s most expensive reported weekend auction sale.
<img src="https://www.urban.com.au/images/2017/05/21/Screen%20Shot%202017-05-22%20at%208.33.55%20AM.png" alt="">
Located at <a href="https://www.realestate.com.au/property-house-qld-clayfield-125260494" target="_blank">122 Alexandria Road</a>, the property has been recently renovated. It last traded in 2010 at $1.3 million.
The preliminary clearance rate for Brisbane at 51.6 percent, was the only capital city down from last week, when it was 59 percent, but similar to one year ago, when 50.9 percent of the 131 properties taken to auction were successful.
In Adelaide, a 70.4 percent preliminary result was recorded this week across 114 auctions.
The 102 Adelaide auctions returned a clearance rate of 63 percent, while at the same time last year, 92 homes were taken to auction, with 68.8 per cent recording a successful result.
<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/2017/05/21/700_esplanade.jpg" alt="">
There was no sale when a stunning six-bedroom Glenelg North Victorian-Italianate style home at <a href="https://www.realestate.com.au/property-house-sa-glenelg+north-125280622" target="_blank">36 North Esplanade</a> (above) attracted three registered bidders, but then no bids.
Adelaide's cheapest sale was a two bedroom Kent Town unit sold for $342,000.
<img src="https://www.urban.com.au/images/2017/05/21/Screen%20Shot%202017-05-22%20at%208.52.09%20AM.png" alt="">
Located at <a href="https://www.realestate.com.au/sold/property-unit-sa-kent+town-125359730" target="_blank">3/2-8 College Road</a>, (above) the property last sold in 2005 at $230,000.
Set 10 minutes from Rundle Street, the property was offered through Harris Real Estate who had offered $320,000 price guidance.
Across Canberra, 85 homes were taken to auction this week.
Preliminary results show a clearance rate of 75.3 percent, up from 74.3 percent the previous week.
A five bedroom elevated Red Hill house sold for $1.541 million making it Canberra's most expensive weekend auction sale.
<img src="https://www.urban.com.au/images/2017/05/21/Screen%20Shot%202017-05-22%20at%208.53.19%20AM.png" alt="">
Located at <a href="https://www.realestate.com.au/sold/property-house-act-red+hill-125308426" target="_blank">26 Fishburn Street</a> (above), the property that overlooks a treetop landscape had last sold at $1.38 million in 2015.
The 1960s home, with 1990s renovation, was marketed with additional potential for redevelopment or renovation through Peter Blackshaw Real Estate agent Andrew Chamberlain.
Perth’s preliminary clearance rate was 50 percent this week, up from 42.1 percent last week.
This week 48 Perth homes were auctioned.
At the same time last year, 42.9 percent of Perth auctions cleared.
 
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j.ballantyne1990-6AQqhLzZaK

Strong May weekend for Sydney, Melbourne auctions

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Melbourne weekend auctions are up year on year with March weekend clearance rates around 79.4 percent compared to 73.4 percent in March last year.
Andrew Wilson from Domain said next weekend numbers will be well down by comparison with just over 900 auctions listed.
"A higher clearance rate was recorded at the weekend despite a surge in pre-school holiday listings with 1351 auctions scheduled compared to 1212 the previous weekend," he said.
"Although the Melbourne housing market is in top shape for sellers, the local rental market remains tough for tenants, with February asking rents for houses surging 5.3 percent over the past year. Unit rents were also higher, increasing by 1.3 per cent since February last year.
"Melbourne’s northern suburbs are booming and recorded another strong weekend clearance rate at 90 percent.
"Behind but still strong was the south-east at 83.1 per cent followed by the north-east at 82.9 percent, the inner east at 80.8 percent and the outer east at 79.6 percent.
"The inner south recorded a clearance rate of 78.9 percent followed by the west at 78.8 percent and the highest sales at 152, and the inner city at 78.4 percent."
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jonathanchancellor-7SQnKwU6yx

Melbourne's northern suburbs leads weekend clearance rate

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The Sunshine Coast had the highest weekend auction clearance rate in the regionals, according to CoreLogic’s latest report.
The property data firm says that the Sunshine Coast had an auction clearance rate of 84.6 percent.
This is followed by the Hunter with 82.4 percent and Wollongong with 75 percent.
<a href="https://www.propertyobserver.com.au/images/2017/03/20/Screen%20Shot%202017-03-20%20at%2012.51.58%20pm.jpg" target="_blank">Click 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/2017/03/20/Screen%20Shot%202017-03-20%20at%2012.51.58%20pm.jpg" alt="">
Gold Coast had the lowest clearance rate with only 54.6% of auctions cleared.
A two bedroom apartment at <a href="https://www.realestate.com.au/sold/property-apartment-qld-mooloolaba-123720546" target="_blank">1104/25 – 27 First Avenue</a>, Mooloolaba (above) was sold for $509,000.
Similarly a three bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-qld-mooloolaba-124692042" target="_blank">2/14 Yallanga Place</a>, Mooloolaba (below) was sold for $421,000.
<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/2017/03/20/2_14%20Yallanga%20Place.jpg" alt="">
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Sunshine Coast earns top spot with highest regional auction clearance rate: CoreLogic

<html><body><div class="tg-tlc-storybody_intro">
<div class="tg-tlc-storybody_intro">
A $9 million Toorak sale topped the nation's weekend auction sales.
Napier, the humble three bedroom offering attracted five bidders selling more than $2 million over reserve at its RT Edgar auction. 
The 870 sqm property at <a href="https://www.realestate.com.au/property/12-st-georges-rd-toorak-vic-3142" target="_blank">12 St Georges Road</a> (above) last sold at $1 million in 1995, reflecting 10 percent annual price growth.
It represented the first time $10,000 plus had been paid per square metre in Toorak, according to one buyers' agent in attendance.
Melbourne also had the nation's cheapest result when $250,000 was paid for a two bedroom Tullamarine villa.
<img src="/images/2016/11/14/Screen%20Shot%202016-11-14%20at%208.52.12%20AM.png" alt="">
The <a href="https://www.realestate.com.au/property-villa-vic-tullamarine-123865218" target="_blank">2/30 Banksia Grove</a> offering (above), currently a $270 a week rental, had $220,000 to $240,000 pre-auction price guidance.
Weekend auction clearance rates have again strengthened with Sydney still leading the pack.
The national capital city preliminary clearance rate increased this week from last week’s final of 73.6 percent to 77.5 percent, with auction volumes also showing an increasing trend over the week, according to CoreLogic.
There were 2,843 auctions held across the combined capital cities, up from 2,517 a week ago.
However volumes sit lower than the corresponding period last November when 3,274 auctions were reported.
"Late November and early December have historically shown the highest number of auctions," Kevin Brogan at CoreLogic said.
"As the number of auctions trends higher over the coming weeks, the larger stock levels will provide a timely test of the auction markets strength."
Melbourne’s preliminary clearance rate improved a tad as auction volumes increased over the week.
Preliminary results showed 77.2 percent of auctions were successful this week, up slightly from 76.1 percent last week.
There were 1,313 auctions held in Melbourne, up from the 927 reported last week; although lower than the 1,567 reported over the corresponding week last year.
The inner region of Melbourne had the highest number of auctions this week (257), with a preliminary clearance rate of 77 per cent. Melbourne's strongest clearance rate was recorded across the Outer East region and West region, with preliminary result showing 86 percent and 82 percent of auctions were successful.
In Sydney, 1,062 auctions were held this week, down slightly from 1,087 over the previous week.
The preliminary clearance rate of 84.2 per cent is up from this time last year, when a clearance rate of 58 percent was recorded across 1,223 auctions.
The Sutherland region recorded the strongest clearance rate of 95 percent across 54 auctions.
Sydney's auction strength saw results including a <a href="https://www.realestate.com.au/sold/property-warehouse-nsw-glebe-123848398" target="_blank">$1.69 million shed in Glebe</a> (below) sold with ­approval for a residential conversion.
<img src="/images/2016/11/14/Screen%20Shot%202016-11-14%20at%208.53.56%20AM.png" alt="">
Selling agent Nicholas Katsikaros, of LJ Hooker Glebe, said about 35 contracts were issued for the 14 Reuss St property which was 272sq m in size.
A single storey, four-bedroom Chatswood home sold for more than $1 million above its reserve price when offered for the first time in 50 years.
Keen bidding from buyers of Chinese origin triggered the $5.3 million price for <a href="https://www.realestate.com.au/sold/property-house-nsw-chatswood-123860594" target="_blank">8 Havilah St</a> (below).
<img src="/images/2016/11/14/Screen%20Shot%202016-11-14%20at%208.54.53%20AM.png" alt="">
It was a 556sq m block opposite Chatswood Chase shopping centre.
Sydney's highest sale when $6.2 million was paid in Greenwich for a <a href="https://www.realestate.com.au/property/4-bay-st-greenwich-nsw-2065" target="_blank">six bedroom home with boatshed</a> (below).
<img src="/images/2016/11/14/Screen%20Shot%202016-11-14%20at%208.56.05%20AM.png" alt="">
It last sold in 1984 for $210,000.
It had been offered earlier this year with an $8 million asking price.
Canberra was the second strongest auction market at 83 percent, compared to 71 percent last week and 63 percent last year.
Prices in the national capital ranged from $370,000 at Holt for a three bedroom townhouse to $1.38 million for a five bedroom <a href="https://www.realestate.com.au/property-house-act-nicholls-123874450" target="_blank">Nicholls house, Il Palazzo</a> (below).
<img src="/images/2016/11/14/Screen%20Shot%202016-11-14%20at%208.57.33%20AM.png" alt="">
There were 97 Canberra auctions held across the city, down from 117 last week and also lower than the 102 held at the same time last year
In Brisbane 191 auctions were held this week, compared to 198 auctions last year and 181 last week.
Some 53 per cent of auctions were sold, up from 50 per cent last week and also last year when 39 percent of Brisbane auctions were successful.
Australia’s richest woman Gina Rinehart has listed her redundant Brisbane riverfront in Chelmer for <a href="https://www.realestate.com.au/property-house-qld-chelmer-123875214" target="_blank">auction next weekend</a> (below).
<img src="/images/2016/11/14/Screen%20Shot%202016-11-14%20at%208.58.30%20AM.png" alt="">
The modern Sutton St was bought in 2010 for $3.175 million. It was offered as a rental at $2000 per week in 2012.
Adelaide recorded a clearance rate of 68 percent across 129 auctions this week.
There were 42 Perth auctions with the preliminary clearance rate of 43 percent, up from 30 percent last week.
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jchancellor-FAypfDUnLy

$9 million Toorak sale tops weekend auction results

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The Hunter region in New South Wales has a preliminary clearance rate of 87.2 percent for the week ending 6 November, according to CoreLogic.
Wollongong holds a preliminary clearance rate of 82.5 percent.
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NSW's Hunter region secures preliminary clearance rate of 87 percent

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Melbourne's inner region has a preliminary auction clearance rate of 75.3 percent from 168 total auctions for the week ending 6 November according to CoreLogic.
The inner south had a preliminary clearance rate of 84.9 percent.
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Melbourne's inner region has a preliminary auction clearance rate of 75 percent: CoreLogic

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The Northern Beaches sub-region of Sydney has shown the strongest performance with 92 percent of the 111 reported as sold over the past week.
It included the Thursday twlight auction when the North Curl Curl home of model Jennifer Hawkins and builder, husband Jake Wall sold.
They secured a $5,235,000 sale of the Koichi Takada-designed five bedroom, three bathroom home that had been listed with $4.8 million expectations.
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Preliminary clearance rate for Sydney's Northern Beaches at 92 percent: CoreLogic

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A likely $16 million private treaty trophy home sale in Mosman headlined the nation's weekend property sales.
It was the redundant Federation Queen Anne style home of the London-based infrastructure investment adviser, Peter Hofbauer.
The six-bedroom <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house/nsw/lower-north-shore/mosman/322852" target="_blank">1910 Bradleys Head Road</a> trophy home (above) on 2244 sqm was listed only late last month.
Offers were not due for another 20 days when it was snapped up Friday night.
It came with an asking price of between $15.5 million and $16.5 million through McGrath agents Michael Rava and Michael Coombs. 
It set a non-waterfront record for the suburb when it last sold at $7.15 million in 2001, but not this time.
At around $16 million is does rank as the third highest sale result across the lower north shore this year.
The Melbourne-born Hofbauer, who was previously Babcock &amp; Brown's head of infrastructure, moved back to London in 2007 where he now oversees infrastructure investments at Hermes, which is owned by BT Pension Scheme in London.
The top auction sales reported in Melbourne and Sydney were also both secured early in their pre-auction marketing.
A Cronulla beachfront (below) sold <a href="https://www.realestate.com.au/sold/property-house-nsw-cronulla-121799054" target="_blank">well ahead of its scheduled weekend auction</a> at $5.25 million on October 25.
<img src="/images/2016/11/07/Screen%20Shot%202016-11-07%20at%209.40.05%20AM.png" alt="">
The five bedroom, five bathroom bayside home sits on a near level 1340 sqm block with 24 metre width on the water.
It last sold at $4.3 million in 2011.
The Seaholme sale on the bay near Melbourne's Altona at $2.888 million was secured October 20.
The Jon Fredrick and Clayton Brown architecturally designed four bedroom home with study had a prominent street facade since built around 10 years ago.
<img src="/images/2016/11/07/Screen%20Shot%202016-11-07%20at%209.41.04%20AM.png" alt="">
The <a href="https://www.realestate.com.au/sold/property-house-vic-seaholme-123732738" target="_blank">13 Esplanade, Seaholme home</a> (above) had been initially listed in May with $2.9 million hopes. 
Auction activity has continue to rise through into the final month of spring, however the number of auctions remained well below the highs recorded a year ago.
The preliminary national clearance rate was 77.5% across 2,490 reported auction results, according to CoreLogic.
This was higher than last week’s final clearance rate of 74.4 percent, with auction volumes increasing compared to the 2,253 capital city auctions reported last week.
Over the corresponding week last year, auctions volumes were significantly higher with 2,947 auctions reported and a 61 percent clearance rate.
The jump in success rate over the past week was especially evident in Melbourne which reported an 80.5 per cent clearance rate, up from the previous week's 77.5 percent.
There was a bigger jump in the Canberra clearance rate. Across Canberra a total of 113 auctions were held this week, compared to 93 last week and 122 at the same time last year. Canberra’s preliminary clearance rate of 79.5 percent was up on the 70 percent in the previous week. 
Sydney's 82.1 percent was the fourth week-on-week reporting above 80 percent, up from 80 percent, although the total 1,063 auctions scheduled fell just below last week's 1,100.   The Domain chief economist Dr Andrew Wilson suggests the Sydney market was beginning to ease 'reflecting more choice for buyers'.
'With more robust listing numbers also set for coming weekends' said Domain chief economist Dr Andrew Wilson.
Sydney’s preliminary auction clearance rate was up slightly on the prior week's 80.5 percent, while one year ago it was a significantly lower clearance rate of 58 percent.
The Northern Beaches sub-region of Sydney has shown the strongest performance with 92 percent of the 111 reported as sold over the past week.
It included the Thursday twlight auction when the North Curl Curl home of model Jennifer Hawkins and builder, husband Jake Wall sold.
They secured a $5,235,000 sale of the Koichi Takada-designed five bedroom, three bathroom home that had been listed with $4.8 million expectations.
<img src="/images/2016/11/07/north%20curl%20curl_0000_1.jpg.jpg" alt="" width="562" height="341">
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$16 million Mosman sale leads weekend results

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Auction clearance rates are at their strongest in more than a year with a clearance rate of 77 percent for 3,700 auctions, according to CoreLogic.
The average time on market is also decreasing with a property averaging 55 days on the market before it’s sold as of this year.
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Although new stocks are similar compared to last year overall the number of listings this year is lower as there is a decline of 1% overall.
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House sale time on market reducing: CoreLogic

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CoreLogic reported it was another strong weekend for auction activity, ahead of the grand final weekend slowdown.
There were 2,445 auctions held across the combined capital cities with a preliminary auction clearance rate of 78 percent.
Last week, the final auction clearance rate was recorded at 76 percent with 2,149 residential properties taken to auction.
At the same time last year, auction volumes were higher with just 69 percent of the 2,835 offerings finding buyers under the hammer.
"Over the first four weeks of Spring, auction clearance rates have consistently been recorded at a higher rate than over the corresponding weeks last year, while auction volumes remain around 20 per cent lower," CoreLogic spokesperson Kevin Brogan said.
Melbourne, Australia’s largest auction market, notched up a 79 percent success rate. Strong sales above reserve continued to be evident.
Six bidders sought the unrenovated cottage at 24 College Street, Hawthorn which was announced as on the market at $1.25 million and sold for $1,551,000.
In Fitzroy, a two-bedroom house at 80 Cecil Street drew four bidders. It was called on the market at $1.1 million and knocked down at $1.3 million.
Melbourne prices ranged between $216,000 at Reservoir and $4 million at Canterbury.
<img src="/images/2016/09/26/Screen%20Shot%202016-09-26%20at%209.55.29%20AM.png" alt="">
It was a quaint 1930s knockdown home, Dooras without heritage overlay at <a href="https://www.realestate.com.au/sold/property-house-vic-canterbury-123448414" target="_blank">107 Mont Albert Road</a> (above).
Across Sydney, 930 homes were taken to auction this week - with 580 on Saturday - with a preliminary clearance rate of 84 percent.
A Bronte timewarp was Sydney's, and the nation's, top sale when $7.35 million was paid – $1.35 million over reserve - for the late 1950s house at <a href="https://www.realestate.com.au/sold/property-house-nsw-bronte-123396886" target="_blank">3 Bronte Marine Drive</a> (below).
<img src="/images/2016/09/26/Screen%20Shot%202016-09-26%20at%209.57.17%20AM.png" alt="">
The buyers' guide was $5.8 million. The buyer is likely to add a third floor.
Sydney's cheapest sale was $480,000 at Whalan (below).
<img src="/images/2016/09/26/Screen%20Shot%202016-09-26%20at%209.59.39%20AM.png" alt="">
The three bedroom house had last sold in <a href="https://www.realestate.com.au/property-house-nsw-whalan-123451950" target="_blank">June last year at $470,000</a>, so the $10,000 price gain would not have covered costs.
It had been a $345 a week rental, so reflecting a 3.75 per cent gross yield.
Last week, the final clearance rate for Sydney was 81 percent, across 815 auctions.
One year ago, 1,200 Sydney homes were taken to auction and the clearance rate was 71 per cent.
Brisbane's preliminary clearance rate was 51 percent, up from 48 percent last week but lower than one year ago, when 55 percent of auctions were successful.
This week, Adelaide saw a preliminary clearance rate of 84 percent, with 87 reported results across a total of 126 scheduled auctions.
Adelaide's top sale was $1,682,000 for a sandstone 1930s Tudor-style home in Fitzroy.
<img src="/images/2016/09/26/500_Adelaide.jpg" alt="">
The <a href="https://www.realestate.com.au/property-house-sa-fitzroy-123516286" target="_blank">1 Braund Road offering</a> (above) had a pre-auction price guidance of $1.5 million to $1.6 million. 
The five bedroom home had last traded at $385,000 in 1997, reflecting just over 8 per cent annual price growth with a renovation undertaken in 2004.
Perth’s clearance rate of 35.1 percent across 49 auctions was down from the previous week, when 39 auctions were held and a clearance rate of 45.2 percent was recorded.
In Canberra, 90 auctions were held this week, and of the 73 reported results, 70 percent were successful. 
Canberra prices ranged between $355,000 for a two bedroom Greenway apartment and $2.1 million for a three bedroom house in Forrest. 
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