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 had a preliminary clearance rate of 70.5 percent from 414 auctions for the week ending 13 March, according to CoreLogic RP Data.
Melbourne’s Inner region held 74 auctions and the West 56 auctions. The North West had a clearance rate of 80.6 percent and the Inner South 79.2 percent.
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Melbourne's North West holds clearance rate of 80.6 percent: CoreLogic RP Data

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Sydney had a preliminary clearance rate of 72 percent from 680 auctions for the week ending 13 March, according to CoreLogic RP Data.
Sydney’s strongest performing regions were Ryde at 86.2 percent, Eastern Suburbs  at 84.5 percent and the Inner West at 78.6 percent.
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Ryde, Eastern Suburbs lead Sydney auction clearance rates: CoreLogic RP Data

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This week 1,426 auctions were held across the combined capital cities, substantially lower than the 2,304 held last week and the 2,556 held one year ago.
This coming Monday is a public holiday for four out of the eight states and territories, which has been a key factor in the fall in auction volumes. The combined capital city clearance rate softened this week, down from 68.6 percent last week to 66.4 percent this week.
The two largest auction markets, Melbourne and Sydney, saw their preliminary clearance remain above the 70 percent mark, with Sydney at 72 percent and Melbourne at 70.5 percent, while the highest clearance rate was in Canberra where 75 percent of auctions cleared over the weekend. 
The capital city weighted average was pulled lower by softer clearance rates in Brisbane (44 percent), Perth (46.7 percent) and Tasmania (33.3 percent). One year ago, the weighted average clearance rate was 77.2 percent, substantially stronger than the current result.
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Only 414 Melbourne auctions were held this week with a preliminary clearance rate of 70.5 percent. This week’s result shows a slight decrease in the clearance rate for the city, after final results saw Melbourne’s clearance rate at 72.1 percent last week. Over the corresponding week last year, Melbourne’s clearance rate was 78.0 percent across 1,269 auctions. Although the city’s auction activity was quieter this week, there were still sub-regions where auction volumes were relatively high, with Melbourne’s Inner region host to 74 auctions and the West region host to 56 auctions. In terms of clearance rate, North West was the best performer, with 80.6 percent of reported auctions successful this week, followed by Inner South (79.2 percent).
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Sydney was the busiest capital city auction market this week, with 680 auctions held and a preliminary clearance rate of 72.0 percent. On the final numbers for last week, 68.7 percent of Sydney auctions were successful, while one year ago the clearance rate was 83.9 percent, significantly stronger than the current results for the city. The number of homes taken to auction this year is also lower than last year when 926 auctions were held. Sydney’s strongest performing sub-regions this week were Ryde (86.2per cent), Eastern Suburbs (84.5 percent) and Inner West (78.6 percent).
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This week 44.0 percent of Brisbane auctions were successful based on preliminary results. There were 151 auctions held in the city, up from 133 last week and 132 at the same time last year. Last week Brisbane’s clearance rate was 50.9 percent, while one year ago it was 47.0 percent. Further south, on the Gold Coast 34 auctions were held this week. Preliminary results show 16 auction outcomes having been reported with a clearance rate of 50.0 percent.
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Adelaide’s preliminary results show 54.2 percent of auctions were successful this week, compared to 65.9 per cent last week and 66.7 percent one year ago. The number of auctions across the city fell to 93 this week, compared to 99 over the previous week.
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There were 35 Perth auctions held this week. Perth’s clearance rate shows a higher level of volatility due to the small proportion of homes being sold via the auction method.  Over the year to date, Perth’s clearance rate has been recorded as low as 21.7 percent the week before last and as high as 46.7 percent this week, across just 15 results. Prior to this week, the highest result for the city was recorded over the final week of January when  44 percent of the 25 reported auctions were successful.
Canberra has recorded another strong result this week with a preliminary clearance rate of 75.0 percent. The number of homes auctioned across the city this week was significantly lower than last week, falling from 88 to 34. At the same time last year 68.8 percent of the 71 auctions were sold.
There were 12 Tasmanian auction results reported this week and based on these preliminary results, 4 have sold.
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Preliminary clearance rate remains below 70 percent for the second week in a row: CoreLogic RP Data's Shana Miller

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Sydney had a preliminary clearance rate of 68.6 percent for the week ending 6 March, according to CoreLogic RP Data.
The City and Inner South regions held the strongest auctions with a preliminary clearance rate of 81.3 percent, Ryde 80.7 percent and the Northern Beaches 78 percent.
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Sydney City, Inner South hit clearance rates of 81.3 percent: CoreLogic RP Data

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The preliminary clearance rate for the Gold Coast stands at 48.8 percent from 70 total auctions for the week ending February 28, according to CoreLogic RP Data.
Queensland's Sunshine Coast came in at 43.3 percent, Victoria's Geelong at 88.9 percent and NSW's Wollongong at 75.9 percent.
 
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Gold Coast clearance rate stands at 48.8 percent: CoreLogic RP Data

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Melbourne held a preliminary clearance rate of 75 percent for the week ending February 29, up from 74.1 percent of last week according to CoreLogic RP Data.
The Inner South had a preliminary clearance rate of 83.9 percent, with Inner Melbourne at 71.8 percent.
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Melbourne's Inner South nets clearance rate of 83.9 percent: CoreLogic RP Data

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Sydney'a preliminary auction clearance fell to 73.3 percent, for the week ending 28 February from last week's 76.5 percent, according to CoreLogic RP Data.
The Eastern Suburbs has a preliminary clearance rate of 86.9 percent with North Sydney and Hornsby with 173 auctions. and a preliminary clearance rate of 78.5 percent.
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Sydney's Eastern Suburbs holds clearance rate of 86.9 percent: CoreLogic RP Data

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This week marks the fourth consecutive week of the combined capital city clearance rate being above the 70 percent mark, with the stronger than expected auctions results continuing through the final week of February.  
Capital city auction results haven’t recorded a four week period where the clearance rates was consistently higher than 70% since early September last year.  Based on 2,113 reported results, the preliminary clearance rate across the combined capitals was 72.4 percent this week, having strengthened from 71.8 percent last week when 2,347 auctions were held.
Auction activity continues to pick up with 2,620 auctions scheduled this week; however is yet to reach the same levels seen at the same time last year which is more than likely attributed to Melbourne’s Labour Day public holiday falling a week later this year.
Last year’s final auction clearance rate for the week was 76.4 percent across a total of 3,238 auctions. The robust rate of auction clearance, together with the CoreLogic Home Value Indices continuing to show a moderate rate of growth through February suggest housing markets are continuing to demonstrate a controlled slowdown rather than any signs of a sharp correction.
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Melbourne’s preliminary clearance rate this week is 75 percent, up from 74.1 percent last week, but lower than the 77.1 percent of properties that sold at the same time last year. This week 1,327 residential homes were taken to auction, having increased from 1,105 the previous week. 
At the same time last year 1,565 Melbourne auctions were held, however volumes were higher due to the scheduling of the Labour Day weekend the following week. Melbourne’s top performing sub-region this week was the Inner South, where both a high volume of auctions were held (224) and the strongest clearance rate achieved at 83.9 percent. Inner Melbourne had the most auctions this week (289), however the clearance rate was the second lowest of any Melbourne sub-regions at 71.8 percent.
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This week Sydney’s preliminary auction clearance fell to 73.3 percent, following on from the previous week’s result of 76.5 percent. There were 872 auctions held, rising from 800 last week, but lower than the 1,223 over the comparable week one year ago. A higher proportion of auctions were successful this week in Sydney’s Eastern Suburbs (86.9 percent) and Ryde (81.6 percent), however the most auction activity occurred in North Sydney and Hornsby with 173 auctions.
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The number of Brisbane homes taken to auction this week was similar to last week, with 175 held, compared to 172 the previous week. The preliminary auction clearance rate strengthened to 58.3 per cent this week, having risen from 53.1 per cent. Compared to the final months of 2015, Brisbane’s clearance rate so far this year has been consistently stronger. This week 43 Gold Coast auction results have been reported with a preliminary clearance rate of 48.8 per cent.
 
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There were 118 Adelaide auctions held this week and preliminary results show a success rate of 72.7 per cent after having dipped to 64.6 per cent last week when 112 auctions were held. One year ago 109 Adelaide homes were taken to auction with a strong clearance rate of 76.7 per cent.
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The number of Perth homes taken to auction this week remained steady, with 47 scheduled auctions compared to 42 last week and 46 the previous week. Preliminary results show the cities clearance rate sitting at 44.4 per cent.
Across Canberra, 72 homes were taken to auction this week. Preliminary results show a clearance rate of 69.6 per cent, up from 61.9 per cent the previous week.
So far 5 Tasmanian results have been reported with 3 sales.
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Capital city clearance rate remains above 70% for the fourth consecutive week: Shana Miller

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Unswayed by the recent 60 Minutes segment forecasting a 50 percent house price crash, the national auction clearance rate edged up to 72 percent, from the prior week's 71 percent.
This weekend television news bulletins were more focused on the little ramshackle Brunswick house made famous by Beyonce in her No Angel video clip (above) that sold at auction for a silly $650,000.
The auctioneer Steven James declared the price as having a “Beyonce premium” when 20 Beith Street sold on Saturday reportedly to a neighbour. 
Not even the auction price forecasting website, realAs could anticipate the premium as it suggested a likely $539,000 sale price, as against the agent's $470,000 to $510,000 price guidance. 
Acclaimed Australian filmmakers Baz Luhrmann and Catherine Martin finally found a buyer for their Darlinghurst mansion, Iona on Friday evening.
It was listed for private treaty sale for $16 million last July marketed as "a once in a lifetime opportunity to possess a heritage masterpiece."
The couple, along with their two children, spend much of their time in New York so will now look for a smaller Sydney home and office as Iona is also the headquarters of Luhrmann’s production company Bazmark.
The Italianate late 1880s trophy home sits on a 2700 square metre block in the centre of Darlinghurst surrounded by established gardens. 
Luhrmann and Martin had rented Iona for nine years before purchasing it in 2006 for $10 million.
Another 1880s Sydney home - Sunnyside, a sandstone Hunters Hill riverfront residence - topped the weekend auctions with a $6.51 million result through BresicWhitney agent Nicholas McEvoy.
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Sunnyside, on 1900 sqm north facing square metres at 22 Vernon Street, had been in the same family for almost seven decades.
A north-west facing single storey Toorak home on half that size ranked as the second highest weekend sale when $5,795,000 was secured through Sothebys.
It had sold at $4.7 million in 2007 when bought by the late philanthropic Carlton bookseller Barbara Tucker, widow of the modernist artist Albert Tucker, who moved from Woodside, St Kilda. 
Melbourne's Murrumbeena had the nation's cheapest sale when a one bedroom, 46 sqm unit fetched $280,000. It reflected six percent annual price growth since selling at $119,000 in 2001.
Brisbane had the cheapest house sale at $301,000 when a three bedroom, late 1980s Beenleigh house sold, having traded at $259,000 in early 2013. 
Auction activity saw 2,113 offerings which continues to pick up with 2,620 auctions scheduled this week.
Last week marked the fourth consecutive week when the national capital city clearance rate sat above the 70 percent mark. 
CoreLogic RP Data noted the prior four week period when clearance rates sat higher than 70 percent was last September.
The robust rate of auction clearance, together with the moderating rate of growth through February suggest to CoreLogic that housing markets are in a controlled slowdown rather than showing any signs of a sharp correction. 
Melbourne’s preliminary clearance rate was 75 percent, up from 74 percent last week, but lower than the 77 percent of properties that sold at the same time last year.
It took the baton for strongest capital city from Sydney.
Melbourne’s top performing sub-region was the inner south, where both a high volume of auctions were held (224) and the strongest clearance rate achieved at 84 percent.
Inner Melbourne had the most auctions this week (289), however the clearance rate was the second lowest of any Melbourne subregions at 72 percent. 
Sydney’s preliminary auction clearance fell to 73 percent, following on from the previous week’s result of 76 percent.
There were 872 auctions held, rising from 800 last week, but lower than the 1,223 over the comparable week one year ago.
Sydney’s Eastern Suburbs 87 percent topped the regions. 
The number of Brisbane homes taken to auction sats at around 175, with its auction clearance rate strengthening to 58 percent.
Some 43 Gold Coast auction results were reported with a 49 percent clearance rate.
There were 118 Adelaide auctions held this week and its 72 percent the third strongest capital city result.
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jchancellor-FAypfDUnLy

Beyonce, Baz and Barbara: weekend property action

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Sydney recorded a preliminary clearance rate of 77.2 percent to Sunday February 21 from 724 auctions, according to CoreLogic RP Data.
A preliminary clearance rate of around 50 percent was recorded in the Baulkham Hills  and Hawkesbury regions, 88.2 percent for both the City and Inner South region and 88 percent in the Eastern Suburbs.
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