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

Joel Robinson

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

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

Sammut secures approval for debut Brisbane apartment development in Toowong

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

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

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

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

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Clearance Rate

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There were 2,837 homes taken to auction across the combined capital cities last week, returning a preliminary auction clearance rate of 74.5 per cent.
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The second busiest auction week of the year returned a preliminary clearance rate of 74.5 per cent across the capital cities
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The previous week had been the busiest auction week of the year, with 3,206 auctions were held and the final clearance rate of 73.6 per cent. 
Over the same week in December 2018, auction volumes were lower with 2,631 homes going under the hammer across the combined capital cities, returning a final auction clearance rate of just 41 per cent.
"Auction markets have been tested on higher volumes over the past few weeks, with the highest number of auctions held so far this year," Tim Lawless at CoreLogic said.
"Despite higher supply levels, clearance rates have held above 70% across the largest markets, demonstrating the market has some depth and sellers remain in a strong position."
Sydney had the highest success rate with the top sale being $6.5 million in Nortbridge (pictured top).
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There were 936 auctions held in Sydney this week, returning a preliminary clearance rate of 78 percent.
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It was down on the 1,221 auctions held over the previous week when the final auction clearance rate was 78 percent.
One year ago, 870 auctions were held and the clearance rate came in at 41 per cent.
The <a href="https://www.propertyobserver.com.au/https://northbridge-castlecrag.randw.com.au/residential-for-sale/0000422273" target="_blank">3 Woonona Rd, Northbridge top sale</a> was a five bedroom contemporary home overlooking the Northbridge Golf Club and Middle Harbour.
It sold for $1.2 million above the reservenwith bidding from two of the five registered parties.
Every Sydney sub-region with at least ten sales returned a clearance rate higher than 60 percent, with ten sub-regions returning a clearance rate over 70 percent, and  five regions reporting a clearance rate over 80 percent. 
The city and inner best’ region had the highest preliminary clearance rate, at 86 percent across 60 results, followed by Blacktown at 85 percent across 28 results and North Sydney-Hornsby returning a preliminary clearance rate of 85 percent from 100 results.  
Baulkham Hills and Hawkesbury returned the lowest preliminary clearance rate of any sub-region with more than 10 results at 64.3% from 28 results.
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In Melbourne, a preliminary auction clearance rate of 75 per cent was recorded across 1,491 auctions this week, while last week there were 1,533 auctions returning a final clearance rate of 74 per cent. One year ago, the clearance rate was just 43 per cent across 1,283 auctions.
A $4.52 million sale at <a href="https://www.propertyobserver.com.au/https://www.jelliscraig.com.au/property-details-29-Ryeburne-Avenue-Hawthorn-East-3123/853797" target="_blank">29 Ryeburne Avenue, Hawthorn East</a> (below) was Melbourne's top sale through Jellis Craig.
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Killara, a five bedroom home had last sold at $2.75 million in 2012.
It's price guidance had been $4 million to $4.4 million.
Two empty shell apartments in St Kilda’s former Gatwick hotel, not renovated as part of the 2018 season of Nine’s reality renovation TV show The Block, were sold post auction as one package.
<a href="https://theagency.com.au/21515/g01-34-fitzroy-street-st-kilda" target="_blank">The empty ground floor units</a> (below) listed through The Agency fetched $1,710,000 in post-auction negotiations, Domain reported.
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Melbourne has the nation's cheapest sale when $172,000 was paid for <a href="https://fletchers.net.au/25388/104-224-226-burwood-highway-burwood" target="_blank">104/224-226 Burwood Hwy, Burwood</a> opposite Deakin University.
The one bedroom unit was currently rented at $330 p/w, according to Fletchers, who had given $150,000 to $165,000 price guidance.
Its asking rent five years ago was $310,000.
Across the smaller auction markets, Canberra saw a 74 percent success rate.
Adelaide had the highest volume of auctions with 146 homes going under the hammer, returning a preliminary clearance rate of 61.8 per cent.
Brisbane saw one of its strongest success rate this spring at 64 percent.
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Kedron saw a record price paid when Ray White sold <a href="https://www.raywhite.com/qld/kedron/2212567/?lang=en" target="_blank">47 Thirteenth Avenue</a> for $1,720,000, beating the previous record by around $50,000.
After over 150 groups through during the opens the new five bedroom home sold to a couple from Sydney. 
The building blok cost $749,000 earlier this year.
<table style="width: 605px;" border="0" cellspacing="0" cellpadding="5"><tbody>
<tr id="x_rpMostExpensive_trMostExpensiveRow_0">
<td id="x_rpMostExpensive_tdMostExpensiveCity_0" align="left">Sydney</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_0" colspan="2">3 Woonona Rd, Northbridge NSW 2063, 5 br House, R&amp;W Northbridge</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_0">$6,500,000</td>
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<td id="x_rpMostExpensive_tdMostExpensiveCity_1" align="left">Melbourne</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_1" colspan="2">29 Ryeburne Av, Hawthorn East VIC 3123, 4 br House, Jellis Craig Projects | Barenya Court, Kew</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_1">$4,520,000</td>
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<td id="x_rpMostExpensive_tdMostExpensiveCity_2" align="left">Adelaide</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_2" colspan="2">4 McLaughlan Av, North Brighton SA 5048, 4 br House, HAR Tagni</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_2">$1,185,000</td>
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<td id="x_rpMostExpensive_tdMostExpensiveCity_3" align="left">Brisbane</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_3" colspan="2">49 Riverview Pl, Yeronga QLD 4104, 5 br House, Dixon Family Estate Agents</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_3">$1,855,000</td>
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<td id="x_rpMostExpensive_tdMostExpensiveCity_4" align="left">Canberra</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_4" colspan="2">43 Bainton Cr, Melba ACT 2615, 5 br House, Peter Blackshaw Real Estate Belconn</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_4">$1,475,000</td>
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Most affordable
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<td id="x_rpMostAffordable_tdMostAffordableCity_0" align="left">Sydney</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_0" colspan="2">3/46 McCourt St, Wiley Park NSW 2195, 1 br Unit, Prof Punchbowl</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_0">$273,100</td>
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<td id="x_rpMostAffordable_tdMostAffordableCity_1" align="left">Melbourne</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_1" colspan="2">104/224-226 Burwood Hwy, Burwood VIC 3125, 1 br Unit, Fletchers Waverley</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_1">$172,000</td>
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<td id="x_rpMostAffordable_tdMostAffordableCity_2" align="left">Adelaide</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_2" colspan="2">99 Victoria Rd, Birkenhead SA 5015, 3 br House, RW Norwood</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_2">$230,000</td>
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<td id="x_rpMostAffordable_tdMostAffordableCity_3" align="left">Brisbane</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_3" colspan="2">3/36 Soudan St, Toowong QLD 4066, 2 br Unit, Professionals - Toowong</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_3">$425,500</td>
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<td id="x_rpMostAffordable_tdMostAffordableCity_4" align="left">Canberra</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_4" colspan="2">38 Tregellas Cr, Banks ACT 2906, 4 br House, McIntyre Property</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_4">$515,000</td>
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j.ballantyne1990-6AQqhLzZaK

Second busiest auction week saw 70% plus success rate

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There were over 3,000 capital city homes taken to auction over the last week of the spring selling season, making it the busiest week for auctions of 2019.
Some 79 percent found buyers, according to preliminary CoreLogic figures, with Sydney out in front on around 84 percent.
"The latest results provide a timely test of the housing markets depth, with clearance rates holding up despite the large number of properties taken to market," Tim Lawless said.
The national tally was significantly higher than final results from one year ago when 41 percent of the 2,749 auctions found buyers.
Houses outperformed units with a success rate of 79.9 percent, while 76.6 percent of units sold at auction.
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Melbourne was host to 1,497 weekend with preliminary results showing a clearance rate of 78.3 percent, in what was its second biggest weekend of the year.
Its success rate increased from last week when the final clearance rate sat at 70 percent across 1,221 auctions. 
Over the same week last year, the auction clearance rate was significantly lower with 42 percent of the 1,378 auctions returning a successful result.
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Melbourne's top sale was $4.51 million in Hawthorn East (below). With five bedrooms and a study, the <a href="https://www.propertyobserver.com.au/https://www.jelliscraig.com.au/property-details-7-Rosslyn-Street-Hawthorn-East/850425" target="_blank">7 Rosslyn Street listing</a> which dates back to its 2010 construction had been expected to fetch between $4.1 million and $4.2 million. 
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There were 1,131 auctions held in Sydney this week making it the busiest week of the year, with preliminary results showing an 84.7 percent clearance rate, up from 76 percent across 940 auctions last week. 
Over the same week last year 937 Sydney homes were taken to auction across the city returning a clearance rate of 41 percent.
The Sydney feel good real estate story was the auction of <a href="https://www.raywhite.com/nsw/randwick/2212317/?lang=en" target="_blank">39 Cowper Street, Randwick</a>, (below), where the beneficiary of the sale was Charles Sturt University.
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The bequests to the university will see scholarships to support disadvantaged women from the NSW Central West Region, enabling them to study at the university.
Results were mixed across the smaller auction markets, with Adelaide and Canberra showing a preliminary clearance rate around 70 percent, while only around half of the homes taken to auction in Brisbane and Perth were successful.
Adelaide had the nation's cheapest result when $145,000 was paid for <a href="https://www.propertyobserver.com.au/https://raywhitecraigmore.com.au/properties/residential-for-sale/sa/elizabeth-downs-5113/house/2207996" target="_blank">32 McKenzie Road, Elizabeth Downs</a> (below) in a mortgagee sale. The three bedroom timber home had last sold at $170,000 in 2009.
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Brisbane's blue ribbon precinct of Kalinga saw a $5.15 million sale through Ray White New Farm agent Christine Rudolph.
The auction of Winbrook, the five bedroom, five bathroom 2004-built property at <a href="https://www.raywhite.com/qld/kalinga/2204995/?lang=en" target="_blank">119 Nelson Street</a> saw a massive crowd of 200 onlookers.
The property comes with a full size, flood lit tennis court.
“There were three registered bidders,” said Ms Rudolph.
Haesley Cush, the auctioneer, declared the property on the market at $5 million.
"The winning family, which include three very sporty young boys, are former residents of the street, and familiar with the property.
"When it came on the market they, according to Ms Rudolph “just had to have it.”
It last sold at $4 million in 2017.
Of the 69 ACT homes scheduled for auction, the highest price paid was $3.85 million for a four-bedroom 1930s art deco home on 2475 sqm at <a href="https://www.propertyobserver.com.au/https://blackshaw.com.au/property/0000422445" target="_blank">18 Tennyson Crescent</a>, Forrest.
The home with 400 sqm internal space last sold at $3.5 million in 2017.
 
 
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Sydney's busiest weekend closes spring 2019 on a high

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Melbourne recorded its lowest non-holiday weekend auction result in nearly four months on Saturday although the market remains generally in favour of sellers, according to the housing economist Dr Andrew Wilson said.
But Dr Wilson noted the typical surge in late spring auction listings had failed to slow down the Sydney auction market.
Westpac described the Sydney market as showing "a strong finish to November" while Melbourne was "more subdued but still robust." 
CoreLogic auction analyst Kevin Brogan said clearance rates across the largest cities have mostly remained above 70 percent since July, implying that vendors remain in a strong selling position, he said. 
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"Next week we are expecting auction numbers to lift by around 14 percent, to be the biggest week of auctions held so far this year," Kevin Brogan said.
Despite the emerging difference in market sentiment, there was just $5000 difference between the cheapest offerings in Sydney and Melbourne.
There was a $305,000 sale at Essendon when <a href="https://www.nelsonalexander.com.au/property/845721/11-158-napier-street/" target="_blank">11/158 Napier Street</a> (below) was sold.
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The renovated one bedroom ground floor unit sold through Nelson Alexander Essendon had a price guide of $285,000 to $310,000.
It had sold at $280,000 in 2015.
A 73 sqm unit at Auburn was Sydney's cheapest sale at $310,000.
The two bedroom at <a href="https://www.realestate.com.au/property-apartment-nsw-auburn-132322722" target="_blank">2/66 Dartbrook Road</a> (below), was on the market for the first time since selling in 1987 at $48,000 according to CoreLogic.
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The garden apartment, that sold through Ascott Real Estate, sits in a block of just 12.
Across the nation, there were 2,599 homes taken to auction across the combined capital cities this week, returning a preliminary auction clearance rate of 72.9 per cent.
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Last week, 2,590 auctions were held when the final clearance rate came in at 70.1 per cent. 
Over the same week last year, auction volumes were slightly higher with 2,701 homes going under the hammer across the combined capital cities, returning a final auction clearance rate of just 41.9 per cent.
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Melbourne's top sale was a period home that fetched $3.85 million in Brighton.
The <a href="https://buxton.com.au/property/141485/41-drake-street-brighton-vic-3186/" target="_blank">41 Drake Street home</a> (below) sold through Buxton had four bedrooms plus study on 778sqm between the Golden Mile foreshore and village shops.
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It came with open fireplaces and a leadlight entry. 
It last sold at $2,725,000 in 2008 and in 2006 at $1.94 million.
Agents has offered a $3.5 million pre-auction price guidance.
In Melbourne, a preliminary auction clearance rate of 73.2 per cent was recorded across 1,217 auctions on the weekend, while last week there were 1,242 auctions returning a final clearance rate of 74.3 per cent, according to CoreLogic. 
One year ago, the clearance rate was just 41.4 per cent across 1,132 auctions.
There were 934 auctions held in Sydney this week, returning a preliminary clearance rate of 82.3 per cent. 
By comparison, there were 947 auctions held over the previous week and the final auction clearance rate was 71.9 per cent. 
One year ago, 1,035 auctions were held and the clearance rate came in at 44.8 per cent.
Sydney's top sale was in Mosman when Raine &amp; Horne agents secured $4.7 million for the four bedroom aparment. The 2/47 Bradleys Head Road apartment had sold at $3.01 million in 2011.
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Across the smaller auction markets, Brisbane had the highest volume of auctions with 184 homes going under the hammer, returning a preliminary clearance rate of 46.4 per cent.
The Brisbane results included a $4.1 million sale through Ray White <a href="https://www.raywhite.com/qld/clayfield/1902150/?lang=en" target="_blank">at 100 Oriel Road, Clayfield </a>where four registered bidders sought the four bedroom, three bathroom home on a 2000sqm estate (below).
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The action commenced with a bid of $3 million and rose to $3.95 million when it was called on the market.
The buyers are a local family planning to renovate the house.
"Buyers are no longer waiting and there’s signs of people jumping in or risking FOMO (fear of missing out),” selling agent Damon Warat said.
The price was less than its sale last year at $4.3 million.
The Ray White group also sold the home of its joint chairman Paul White in Clayfield.
It sold under the hammer for $3.425 million with four registered bidders. 
The 1930s style home called ​Arlington at <a href="https://www.propertyobserver.com.au/https://raywhiteascot.com.au/properties/residential-for-sale/qld/clayfield-4011/house/2202712" target="_blank">129 Adelaide St East​</a> was listed by Mr White and his partner Lynne Porcsin who have owned the four bedroom classic single story home on one of Brisbane’s best streets since paying $3,025 million in 2014.
 
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Melbourne records lowest non-holiday weekend auction result in nearly four months

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Sydney and Melbourne weekend auction clearance rates both sat at 77 percent this week.
Melbourne saw 1,241 homes taken to auction, the second busiest auction tally this year. 
It was quieter that last year's 1,400 offerings when the success rate was just 41 percent.
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Sydney had 932 homes taken to auction, up slightly on the same time last year when 875 auctions were held returning a final clearance rate of 42 per cent, according to CoreLogic.
There were "robust results for sellers generally despite the typical late spring rise in listings," Dr Andrew Wilson at My Housing Market advised.
"Buyer and now seller confidence has clearly regenerated this spring with results continuing to track well above those recorded a year ago.
"Latest economic news however remains underwhelming with the jobless rate rising, employment falling and wages growth declining – all likely to contribute to another cut in interest rates which will certainly help to keep housing markets ticking over," Dr Wilson suggested.<a id="mlk-60" class="text text-link" href="https://blackshaw.com.au/staff-profiles/1024-mario-sanfrancesco" target="_self"> </a>
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The highest confirmed weekend residential sale was in Sydney's Maroubra for $7 million (pictured above and below).
The Phillips Pantzer Donnelley offering, known as North End, had $6.5 million price guidance.
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The 1950s home was being offered for the first time in five decades. Five of the six bidders were developers, one of whom secured the 544 sqm site.
There was also a $6.05 million sale in Strathfield marketed through Joseph Georges at Georges Ellis &amp; Co.
With some 660 sqm of living space, the luxury five bedroom, five bathroom Barker Road home on an 1889 sqm block was listed after 18 years ownership. 
Melbourne's top sale was a development site in Brighton at $4.05 million (below).
The 768 sqm site, 1&amp;3 Collins Street, had been listed with $3.5 million to $3.85 million price hopes through Campbell Cooney at Hodges.
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It came with two brick veneer homes plus duplex development approval.
The next dearest home was the five bedroom offering at 14 Neath Street, Surrey Hills for $3,843,000, some $543,000 above reserve.
A West Footscray unit sold for $216,000 was Melbourne's cheapest auction outcome, after being listed with a $190,000 to $209,000 price guide.
The ground-floor Rupert Street apartment came with one bedroom and bathroom, plus off-street parking. 
Located just 10km from the CBD, the 1970s-built home last traded in 2005 for $112,000.
West Footscray's median unit price is $455,000.
Deon Dardha, from Hockingstuart Yarraville, sold the property. 
There were 2,571 homes taken to auction across the combined capital cities last week, up from 2,412 over the previous week making it the second busiest auction week of the year.
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The national preliminary result showed a clearance rate of 74 per cent, compared to last week’s final clearance rate of 70 per cent.
"One year ago, 2,745 auctions were held across the combined capitals, with only 42 percent returning a successful result," CoreLogic auction analyst Kevin Brogan said.
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Across the smaller auction markets, Brisbane, Canberra and Perth saw fewer homes taken to auction week-on-week.
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Canberra saw a $3,675,000 sale in Yarralumla.
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The five bedroom house at 8 Hunter St (below) was sold through Mario Sanfrancesco at the Peter Blackshaw agency.
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Their marketing said the 2,829 sqm block with native gardens came with court and pool. 
It had last sold at $605,000 in 1997.
An $80,000 sale was the weekend's cheapest sale which came at an Adelaide auction.
It was a fire damaged property at Elizabeth North.
The 44 Charford St, Elizabeth North offering was listed under instructions from The City of Playford.
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Regional Victoria saw a converted World War II bunker at Yelta sell for $250,000.
Built in 1941 by the Royal Australian Air Force to store fuel for its nearby Mildura base, it closed in 1945.
Located close to the Murray River, it was converted into a four-bedroom house by vendor Stephen Gooding.
The Herald Sun reported the young buyers plan to renovate the bunker’s top floor as it is still a shell.
The bunker, set on 5000 sqm, was listed with a $260,000 to $280,000 price guide through Professionals Mildura agent Tony Graham.
The buyers were from nearby Merbein. 
 
 
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Development sites top Sydney and Melbourne's strong weekend auctions

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Sydney’s top weekend result was on the lower North Shore at Cremorne where $7.32 million was paid for a four bedroom contemporary home.
Set just above Primrose Park, its vendors Cate and Torod Holst had commissioned Goran Stojanovic of X.PACE Design Group to build the home in 2013.
With filtered views of Willoughby Bay, it sold through Di Jones Lower North Shore who had given a $6 million guide.
The five-bedroom home at <a href="https://www.dijones.com.au/property/house-nsw-cremorne-8p10047/" target="_blank">118 Young St, Cremorne</a> (above) sold $770,000 above reserve to a Chinese-Australian family who postponed a flight to China to be at the auction.
The weekend focus was on the Sydney market with Melbourne's spring racing carnival cutting the volume of auction listings.
Sydney achieved a preliminary clearance rate of 79 per cent across 832 auctions listed, according to CoreLogic figures.
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On Saturday there were 672 auctions with 510 results and 404 being sold, with the ensuing 79 percent success rate, the first time below 80 percent since late September.
However the boss of research at SQM Louis Christopher said the fact that the clearance rate hadn't fallen far in a seasonal trend meant Sydney could see dwelling prices match their peak of two years ago by the middle of 2020.
The prediction to the Australian Financial Review was based on clearance rates in the late spring selling season typically falling to the low 60 per cent or high 50 per cent range by November, according to Mr Christopher. In the downturn last year they had fallen into the 40 per cent range.
"This indicates that the market is still strong in Sydney and prices were still rising," Mr Christopher said.
CoreLogic noted the weekend saw 41 percent fewer homes taken to auction across the combined capital cities with the auction activity significantly lower across Melbourne amid the Spring Racing Carnival. 
There were 1,535 capital city homes auctioned, lower than the 2,622 last week and similar to the 1,541 auctions held over the same week one year ago. 
The lower week-on-week activity returned a preliminary auction clearance rate of 73 percent which was lower than last week’s preliminary figure of 75 percent across the higher volumes, which later revised down to 72 percent at final figures.
The dearest house sale in Melbourne was $1.876 million was paid for <a href="https://buxton.com.au/property/139994/39-ray-drive-balwyn-north-vic-3104/" target="_blank">39 Ray Drive Balwyn North</a> (below), according to the REIV.
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The marketing by Buxton stressed the four bedroom, two bathroom house was in the school zone.
The price guidance had been $1.4 million to $1.5 million.
There was also a 1470 sqm development site at <a href="https://www.llcre.com.au/listing/21310516-6-8-lisbon-street-glen-waverley-vic-3150/" target="_blank">6-8 Lisbon Street, Glen Waverley</a> which fetched $4.98 million.
It was mid-range on the estimate of $4.8 million to $5.2 million given pre-auction by Andy Lou at LLC Real Estate.
There had been a $4.3 million opening bid.
It is likely to become a family home.
Ray White Craigieburn agent Daniel Diamantopoulos sold <a href="https://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGbNY6Z1VkwENXL7gb+DHwWVHGvJAygAogt0PKDf9ueSc=&amp;rh=ff00547abe318663c9132e332043927de369f945" target="_blank" rel="noopener noreferrer">14 Medway Rd, Craigieburn</a> (below) for $560,000 with four active bidders pushing the price to $40,000 over reserve.
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The vendors has been in the home for 45 years.
"It was also great to see a first home buyer out-muscle a builder and a developer," Diamantopoulos said.
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There were 254 Melbourne homes taken to auction.
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The lower volume saw the preliminary clearance rate fall, with 73 percent of homes selling after last week’s final auction clearance rate of 75 percent.
Across the smaller auction markets, Canberra was the best performing with a 74 percent  success rate as volumes doubled across the city. 
Adelaide followed with 64 percent of auctions returning a successful result.
The nation's cheapest sale was in Adelaide.
It was a $180,000 sale of a three bedroom house at Elizabeth Downs.
It represented a loss on its last sale in 2009 at $229,000.
The vacated <a href="https://www.propertyobserver.com.au/https://raywhitecraigmore.com.au/properties/residential-for-sale/sa/elizabeth-downs-5113/house/2198231" target="_blank">20 St Leonard Cr, Elizabeth Downs</a> offering was under mortgagee instructions.
"It is in need of fresh paint, up-grading and T.L.C so bring your paint brush, overalls and new ideas," the Ray White agent Dominic Cirillo said.
He also suggested it was an opportunity for property developers, looking to sub-divide &amp; build two or three new dwellings on the 880 sqm holding.
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Sydney not slowing down, prices could match peak by 2020: SQM's Louis Christopher

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Saturday was Melbourne’s biggest auction day of the year so far, with some 1500 properties put under the hammer in a test of the housing market’s recent recovery.
The 77 percent success rate was a strong result.
"The Melbourne auction market passed its biggest test with flying colours despite the flood of listings," the housing economist Dr Andrew Wilson from My Housing Market said. 
"Vendors are now moving back into the Melbourne market keen to take advantage of strong selling conditions with rising prices," he said.
Melbourne's top notified result was $5.425 million in Kew. It was a resort style house at 3-5 Remington Avenue (pictured top) which was sought by just the two bidders.
Set over two titles, the six bedroom, four bathroom home featured salt-water pool, floodlit north-south tennis court and self-contained club-house.
It had views to the north and east.
There was higher bidder at a Toorak offering which was passed in at $6.4 million vendor bid.
And also whispers of an $8.18 million sale in Hawthorn.
The <a href="https://kayburton.com.au/real-estate/other-25-kooyongkoot-road-hawthorn-vic-3122-647827" target="_blank">four bedroom 1887 Kooyongkoot Road home</a> (below) on its 1254 sqm Scotch Hill holding had last sold at $377,000 in 1985. 
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A $170,000 sale was the nation's and Melbourne's cheapest at 13/11-13 Cooma Street, Preston.
The studio apartment had been listed with a $165,000 to $180,000 price guide.
The top sale across the nation was in Sydney when a $10.1 million bid secured a <a href="http://sydneysothebysrealty.com/7643227/111-Victoria-Road-Bellevue-Hill" target="_blank">historic Bellevue Hill home, Cliff Hall</a> (below).
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The home attracted seven registered bidders for the 1916 home that sold through Peter Starr at Raine &amp; Horne in conjunction with Sotheby’s agent Harriet France.
There were five bidders following the $7m opening offer.
Cliff Hall on Victoria Road with views of both the harbour and ocean was last sold in $770,000 in 1983.  
The next priciest Sydney weekend sale was in Hunters Hill where $5.5 million was paid for a five bedroom 1885 sandstone house (below).
The <a href="https://www.bresicwhitney.com.au/buy/58-mary-street-hunters-hill-22521" target="_blank">58 Mary Street</a> offering through BresicWhitney went to a young couple from Sydney's east.
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BresicWhitney agent Nicholas McEvoy said there were four registered bidders, with the final two couples both coming from Sydney's east after bidding opened at $5 million.
The downsizing vendors had paid $920,000 in 1995.
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There were 2,610 homes taken to auction across the combined capital cities with volumes up 33 per cent on prior week, according to CoreLogic.
It was the busiest week for auctions since early December 2018, CoreLogic auction analyst Kevin Brogan said.
The higher activity returned a preliminary auction clearance rate of 75.3 per cent, which was only slightly lower than the prior week’s preliminary figure of 75.6 per cent which later revised down to 72.1 per cent at final figures. 
"Compared to one year ago, volumes are lower than the 2,928 auctions held over the same week last year when a much lower 47 per cent cleared," Brogan noted.
The higher volumes can be mostly attributed to the surge in activity across Melbourne, in the the pre-Derby Day-Melbourne Cup horse racing carnival. 
There were 1,528 Melbourne homes taken to auction with volumes reaching their highest levels since this time last year when there was a higher 1,701.
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The preliminary Melbourne auction clearance rate maintained strength against the higher volumes, returning a 77 per cent success rate, up on last week’s 73 per cent across a lower 915auctions.
Sydney recorded a preliminary clearance rate of 79 per cent across 761 auctions this week, after last week’s final clearance rate of 79 percent which was the strongest final result the city has seen since early 2017. 
"One year ago, 798 auctions were held across Sydney returning a final clearance rate of 45 per cent," Brogan noted.
Results were varied across the smaller auction markets last week, Adelaide returned the strongest preliminary clearance rate of 68 per cent, across a higher volume of auctions week- on-week. 
Adelaide sales included <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGsigxs0BQCYx2y6kOlxyHgZXRv6E+djZb&amp;rh=ff00540aefef02aaf70bf76cd0479e833a67d3b0" target="_blank" rel="noopener noreferrer">57 Victoria Street</a>, Queenstown which came with a granny flat (below).
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"There's no way this property would have drawn so many people, or achieved this price without the separate accomodation," said Ray White Woodville agent Peter Kiritsis.
The auction attracted "a good sized Adelaide crowd of 35' with three bidders taking the sale price to $555,000 for the 1970s three bedroom brick house.
Brisbane and Perth saw less than 50 per cent of homes successful at auction.
Brisbane saw a $1.9 million top sale at Balmoral.
The five bedroom 45 Olive Grove contemporary house was sold by Ray White agent Brandon Wortley who announced it on the market at $1.85 million.
There had been four registered bidders.
The land had cost $675,000 in 2016.
Its  investor landlords put it up for rent at $1800 a week in 2017 when they sought to find buyers at $2.1 million plus.
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$10.1 million Bellevue Hill sale tops weekend auctions

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Melbourne had the nation's top auction sale when $6.3 million was paid in South Yarra.
The home at <a href="https://www.marshallwhite.com.au/property/104-caroline-street-south-yarra-835386/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">104 Caroline Street</a> (pictured top) saw bidding commence with the Marshall White auctioneer Justin Long placing a $5 million vendor bid.
At $5.45 million it was declared on the market.
The fourth bidder only come in at $5.9 million, and fended off the opening bidder in the final straight. 
The initial price guidance had been $5 million to $5.5 million for the 1920s Georgian-style home that was marketed as "retaining its original charm."
There was higher bidding at a Kew offering, with city skyline views, which was passed in at $6.6 million on a vendor bid.
The <a href="https://www.marshallwhite.com.au/property/7-wrixon-street-kew-832451/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">7 Wrixon Street</a> offering (below) is now for sale at $6,895,000 through Marshall White who had offered an initial $6.8 million to $7.2 million auction price guide.
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It was a five bedroom contemporary home of a deep 1565 sqm block with tennis court and pool.
Melbourne also had the cheapest sale around the capital cities too.
It was when the ground floor one bedroom apartment at <a href="https://www.nelsonalexander.com.au/property/834591/2-4-prince-street/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">2/4 Prince Street, Essendon North</a> (below) sold for $215,000.
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The Nelson Alexander price guidance had been $225,000 to $240,000. 
It sold at $72,500 in 1997.
There were 912 Melbourne homes taken to auction this week, according to CoreLogic, with a 75 per cent success rate, similar to the prior weekend's final auction clearance last week when volumes were slightly higher at 974 offerings.
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One year ago, 45 per cent of the 1,087 Melbourne homes taken to auction found buyers under the hammer.
Melbourne’s auction market was starting to moderate, the AMP chief economist Shane Oliver told Domain.
“Melbourne’s results look to have peaked in mid-September,” Dr Oliver said.
“More sales volumes could have weighed on them.”
Sydney returned a preliminary auction clearance rate of 84 per cent across a similar volume of auctions week-on-week.
There were 724 Sydney homes taken to auction.
The top sale was a pre-auction result in <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house/nsw/northern-suburbs/hunters-hill/420391" target="_blank">Hunters Hil</a><a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house/nsw/northern-suburbs/hunters-hill/420391" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">l at $4,408,000</a> through McGrath to an inner west family.
The Toocooya Road home, TreMon (below) last sold at $2.2 million in 2005, but had been listed twice last year without success.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/21/TreMon%20Hunters%20Hill.jpg" alt="">
There was no bid when a lavish whole-floor apartment in the Harry Siedler-designed Horizon building went to private auction.
There was only a vendor bid of $16 million for the five-bedroom 40th-floor residence which was listed with a revised price guide of $16.5 million, after being listed at $20 million earlier this year.
It comes with $565 sqm of internal space, but 710 sqm with balconies and garaging.
It is credited as the largest single level apartment in its Knight Frank marketing.
Sydney's prior week’s figures saw 76.9 per cent clear as at final figures.
Last year, a lower 675 Sydney homes were auctioned returning a 44 per cent success rate.
Canberra was the best performing of the smaller auction markets, with a preliminary auction clearance rate this week of 64 per cent, Adelaide followed closely with 63 per cent of homes selling at auction.
<img src="https://www.urban.com.au/images/2019/10/21/OCT%2021%20Auction%20Stats.JPG" alt="">
The South Australia auctioneer John Morris noted the 30 Ray White auctions clearance rate was sitting at 78 per cent.
"Stock is still quite low and this is resulting in large turnouts and lots of registered and active bidders at auction," Morris said.
The agency sold <a href="https://www.raywhite.com/sa/fulham-gardens/2172992/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">14 Leisure Court, Fulham</a> for $1,035,000.
“The highest offer we had previously was below the figure it sold for under the hammer,” selling agent Leon Yuan said.
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CoreLogic tallied just under 2,000 capital city homes taken to auction, steady week-on-week although the 75.6 per cent clearance rate came in lower than the previous week’s preliminary figure of 77.3 per cent, which revised down to 73.5 per cent at final figures. 
"It’s expected that this week’s final figure will come in below that given the lower preliminary figure," Corelogic auction analyst Kevin Brogan said.
Last year, 2,139 homes were taken to auction over the same week, however only 46 per cent of these sold.
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Melbourne’s auction results peaked in mid-September: Shane Oliver

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Over the three months to September 2019, the clearance rate across the combined capital cities came in at near 70 per cent, the strongest quarterly clearance rate seen since the June 2017 quarter, according to the latest report from CoreLogic.
There were 16,730 auctions over the quarter, nearly 4,000 less properties going under the hammer compared to the September quarter 2018. The clearance rates over that quarter was down at 53 per cent.
There was a higher volume of homes in the June 2019 quarter (18,104), however the clearance rate was down at 55 per cent.
The clearance rates over the last seven weeks of the September 2019 quarter have been holding at or above 70 per cent.
Click <a href="https://www.propertyobserver.com.au/images/2019/10/14/Quarterly%20Auction%20clearance.JPG" target="_blank">here</a> to enlarge
<img src="https://www.urban.com.au/images/2019/10/14/Quarterly%20Auction%20clearance.JPG" alt="">
CoreLogic head of research Tim Lawless called the auction clearance rate lift remarkable.
"The September quarter has seen a remarkable lift in auction clearance rates, driven by consistently high results across the largest auction markets, Sydney and Melbourne," Lawless noted.
“The lift in clearance rates highlights a better fit between buyer and seller pricing expectations and some urgency creeping back into the market as a larger pool of buyers compete for a smaller than usual number of homes for sale.”
Although clearance rates are holding high in Sydney and Melbourne, the number of auctions held remains low, reflecting a slower start to the spring selling season.
“There is a strong likelihood that advertised stock levels and the number of scheduled auctions will progressively rise as spring progresses and vendor confidence lifts on healthier housing market conditions," Lawless added.
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Strongest quarterly auction clearance rate since the downturn: CoreLogic

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The keenness of buyers was now inspiring more sellers to list, according to AMP Capital chief economist Shane Oliver.
Buyer sentiment had improved significantly since May, he noted after another auction weekend with an 80 per cent plus success rate in Sydney.
“Sentiment has turned around dramatically as things were going down and it was feeding on itself on the way down.
“Now it’s turned, it’s feeding on itself on the way up.
Oliver said the trigger was the combination of the election outcome, which removed the threats to negative gearing and the CGT discount, the rate cuts and the removal of the 7 per cent mortgage rate test.
“This all now appears to be encouraging a gradual pick up in listings which along with news of a recovery is in turn is bringing more buyers back into the market.”
Oliver suggested some of the buying was pent-up demand, “after buyers went on strike last year”.
He thinks tighter credit, slower economic conditions and a lot of units to hit the market will constrain prices relative to a few years ago.
“I expect some slowing after the initial bounce, but right now it looks like its got a bit further to go as sentiment continues to improve,” he told The Daily Telegraph.
There were 2,017 homes taken to auction across the combined capital cities over the past week, up from 1,324 over the previous week, suggesting the spring auction selling season was finally gaining some listing momentum. 
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The Corelogic preliminary results showed a 77 per cent success rate, up after last week’s interrupted long weekend saw a final clearance rate at 67 percent. 
"Although the clearance rate will revise lower as final results are collected, it will likely hold around the low-mid 70 per cent range," Kevin Brogan, the CoreLogic auction analyst said.
The number of listings is finally up on the same time last year, when 1,851 auctions were held across the combined capitals, then recording a 47 per cent clearance rate.
Property economist Dr Andrew Wilson said the Sydney weekend home auction market bounced back strongly following the previous weekend's holiday break "with a booming clearance rate despite a surge in listings."
SQM property commentator Louis Christopher observed "ongoing strong auction results."
The dearest sale was in Melbourne where <a href="https://www.littlerealestate.com.au/properties/7-ruby-street-hawthorn-vic" target="_blank">7 Ruby Street, Hawthorn</a> (top and below) fetched $5,175,000.
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There had been price guidance of $4.75 million to $5.225 million.
The 596 sqm house was designed by Steve Domoney Architecture.
The property last sold in 2010 at $4.4 million.
The marketing by Little Real Estate agent Jeffrey Wilson described the three level home as "unrivalled luxury."
It was "magnificently modern and dramatically daring."
Sydney's top house sale was in Mosman.
The $5,025,000 sale through Di Jones Real Estate was a five bedroom 1930s home at <a href="https://www.dijones.com.au/property/house-nsw-mosman-8p9611/" target="_blank">89 Bay Street</a> (below). 
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With Middle Harbour views, the home last traded at $3.2 million in 2012.
There was a $4.7 million sale in Brisbane when the riverfront home at <a href="http://www.adcockprestige.com/20293048#1" target="_blank">23 King Arthur Terrace, Tennyson</a> (below) was sold pre-auction through estate agent Jason Adcock.
It last sold at $3.81 million in 2015.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/14/Tennyson%20.jpg" alt="">
The north-facing five bedroom, four bathroom family home has views capturing the river, golf course and city skyline from its 1154 sqm holding with 20m of river frontage.
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Melbourne saw 977 homes taken to weekend, returning a preliminary clearance rate of 76.7 per cent. 
In comparison, last week saw 775 homes taken to auction returning a final clearance rate of 70.5 per cent. 
Over the same week last year, a clearance rate of 50.4 per cent was recorded across 912 auctions.
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Melbourne had the weekend's cheapest offering when $225,000 was paid for the one bedroom unit at <a href="http://www.jasstephens.com.au/?pagecall=property&amp;propertyID=3367907" target="_blank">8/90 Roberts Street, West Footscray</a> (below).
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There had been $200,000 to $220,000 price guidance by Jas Stephens Real Estate.
It last sold in 2006 at $115,000.
It was offered as a $190 a week rental in 2016.
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There were 729 homes taken to auction across Sydney this week with preliminary results showing a clearance rate of 82.3 per cent. 
Over the previous week, a final clearance rate of 74.7 per cent was recorded across just 317 auctions given the long weekend.
 One year ago, 647 auctions were held across Sydney returning a final clearance rate of 45.1 per cent.
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Across the smaller auction markets, Perth saw lower auction volumes week-on-week while Adelaide and Canberra, both with a 78 percent success rate, saw an increase in the number of homes taken to auction over the week.
There was a 59 percent clearance rate in Brisbane where sales included a $2,085,000 Bulimba result through LJ Hooker AVNU in conjunction with Ray White agent Nicholas Given.
The 2012-built contemporary <a href="https://avnu.com.au/our-listings/32-princess-street-bulimba-qld/" target="_blank">32 Princess Street</a> five bedroom home sold for $2,085,000. It potentially could have gone higher. “There were lots of people desperate to buy this home but didn’t have their finances in place,” Mr Given said.
It last sold at $1.8 million in 2013.
"Displaying a cutting-edge architectural aesthetic, the home was designed with an emphasis on gourmet open plan indoor/outdoor poolside entertaining," Tanya Douglas at AVNU said.
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Keenness of buyers now inspiring more sellers to list: Shane Oliver

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Melbourne was host to 777 weekend auctions, with agents returning a preliminary clearance rate of 73.8 per cent.
It was the nation's second strongest capital city result, falling just short of Canberra's 73.9 per cent, according to CoreLogic.
Over the same weekend last year, Melbourne vendors secured a success rate of 51.8 per cent across 904 auctions.
Housing economist Dr Andrew Wilson noted Melbourne recorded a $790,000 median sale which was lower than the previous fortnight’s $812,000 but higher than the same weekend last year’s $738,750.
"With the spring holiday period now concluded, the Melbourne market will again be fully-focused over coming weekends until the Cup long-weekend holiday," Dr Wilson, from My Housing Market, said.
The top Melbourne sale was at Elwood. The modern home at <a href="https://www.marshallwhite.com.au/property/20-docker-street-elwood-830575/" target="_blank">20 Docker Street</a> (pictured top) fetched $3,075,000, up just $25,000 on the last sale price in 2016, according to CoreLogic.
The Marshall White price guidance had been $2.75 million to $2.9 million.
Melbourne's inner south was the strongest region with a 90 percent success rate.
A Wheelers Hill four bedroom, two bathroom home (below) sold for $1,247,000.   “The first bid was $1 million, and it shot up in $20,000 increments,” said the Ray White agent Crisitine Jones.
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"Three months ago this property would have struggled to reach $1.1 million.”   The <a href="https://www.propertyobserver.com.au/https://raywhitegw.com/properties/residential-for-sale/vic/wheelers-hill-3150/house/2175745" target="_blank">21 Heysham Drive home</a> saw six bidders taking part, with final bids between just two dropping as low as $500.
It last sold at $850,000 in 2009.
There were 1,324 homes taken to auction across the combined capital cities, slightly up on the prior week when 1,278 auctions were held.
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National preliminary results show a clearance rate of 71 per cent, similar to last week’s final clearance rate of 71 per cent, but down on the 79 percent achieved in late August. 
"As the remaining results are collected, it’s likely that the final clearance rate will revise below 70 per cent for the first time since mid-August," CoreLogic auction analyst Kevin Brogan said.
AMP Capital chief economist Shane Oliver suggested the recent "cooling" in clearance rates was expected due to the tight credit, the unit supply and soft economy that would "constrain prices after their initial bounce."
This time last year, 1,817 auctions were held across the combined capitals, while the clearance rate was significantly lower at 49.5 per cent.
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With the school holidays, the NRL grand final and Queens Birthday long weekend, auction volumes across Sydney dropped with just 316 homes across the city over the past week. 
Preliminary results show a clearance rate of 79.8 per cent.
There were 188 auctions in Sydney on Saturday, with just the 133 results captured and 110 sold so a preliminary clearance rate for Saturday of 82 percent.
Over the previous week, final results show 74.5 per cent of the 950 auctions were successful making it the busiest week the city has seen since November last year. 
One year ago, 611 auctions were held across Sydney returning a final clearance rate of 46.1 per cent.
For the second week in a row, Sydney's top sale was at Warrawee when a five bedroom house (below) fetched $4,525,000.
The <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house/nsw/upper-north-shore/warrawee/406155" target="_blank">21 Hastings Road home</a>, Kelvin Grove was a Federation home renovated by architect Harvey Little. Set on on 1,400 sqm, the home that sold through McGrath agent Alex Mintorn had a pool and court.
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It last sold in 1996 at $1.39 million.
Cooley Auctions reported a 58 percent clearance rate with 11 of 19 selling, which was the weakest clearance rate for nine weeks. 
Across the smaller auction markets, Adelaide and Canberra saw lower auction volumes week-on-week while Brisbane and Perth saw an increase in the number of homes taken to auction over the week.
Canberra was the strongest of all market at 73.9 percent from just 31 auctions, with the dearest being just $835,000 at Flynn.
The four bedroom house at <a href="https://www.irwinproperty.com.au/real-estate/1147527/11-tulloch-place-flynn-act-2615" target="_blank">11 Tulloch Place, Flynn</a> was sold prior to auction through Irwin Property. It last sold at $137,500 in 1998.
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The weakest market was Brisbane at 37 percent with 90 or so listings.
Brisbane had the nation's cheapest sale when <a href="https://www.raywhite.com/qld/kingston/2177746/?lang=en" target="_blank">10 Woody Avenue, Kingston</a> was sold at a big loss. Set within the Logan City region, the neglected three bedroom home fetched $226,000.
"Bring your tools and make this home shine again," the marketing advised.
It last sold at $315,000 in 2015 to Sydney investors who initially sought $460 a week tenants.
There were no auctions recorded in Tasmania this week.
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