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


Joel Robinson

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

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


Sammut secures approval for debut Brisbane apartment development in Toowong

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


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

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


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

<p>It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.</p>

<p>Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.</p>

<p>Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be</p>

<p data-end="683" data-start="511">"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.</p>

<p data-end="882" data-start="690">"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."</p>

<p data-end="882" data-start="690">[smartcode_project:default project_id=134646 project_image_fid=6109]</p>

<p>The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.</p>

<p>The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.</p>

<p>Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.</p>

<p>[smartcode_project:default project_id=134646 project_image_fid=6110]</p>

<p>Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.</p>

<p>The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.</p>

<p>[smartcode_project:default project_id=134646 project_image_fid=6116]</p>

<p data-end="247" data-is-last-node="" data-is-only-node="" data-start="0">While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.</p>

<p>WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.</p>

<p>With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.</p>

<p>[smartcode_project_cta:default project_id=134646]</p>


WM Residences fills gap in Mordialloc townhouse market

Clearance Rate

<html><body>
<p>EXPERT OBSERVER</p>
<p>The Sydney and Melbourne property markets are showing ‘clear signs of recovery’ with auction clearance rates hitting more than 70 per cent in both the capital cities.</p>
<p><span>According to CoreLogic, Sydney hit 77.2 per cent and Melbourne delivered 73.6 per cent.</span></p>
<p><span>The trend now is very clear with interim results in the 60s and 70s in the past four weeks and final clearance rates above 60 per cent for that period. This is significantly higher than the clearance rate of 52 per cent a year ago.</span></p>
<p><span>A combination of the surprise election results, the RBA interest rate cuts, APRA's changes to floor assessment and tax cuts, which would deliver more funds to households, all contributed to the confidence of the market and, consequently, higher clearance rates that were also connected to higher prices.</span></p>
<p><span>While volumes are still low, in this context it means sellers, generally, don't feel the rush to sell.</span></p>
<p><span>However, further improvement in auction results and the turnaround in the market are likely to lead to an increased volume as sellers expect stronger demand for their properties and, therefore, are more confident to put them on the market.</span></p>
<p><span>The high end of the market continued to lead the way with extremely strong results in Sydney’s eastern suburbs with 90 per cent clearance rates, and both Sydney Inner West and Inner South West reaching 87 per cent.</span></p>
<p><span>In Melbourne the lucrative areas of the Inner East and Inner South continued with their consistently strong results this week delivering 77.3 per cent and 76.9 per cent, respectively.</span></p>
<p><span><em><span>DORON PELEG</span> is CEO of RiskWise Property Research.</em></span></p>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Seller numbers expected to increase as Sydney & Melbourne property markets show positive signs: Doron Peleg

<html><body>
<p>The $3.3 million sale of a Surry Hills terrace for $700,000 above reserve at auction saw a final $50,000 knockout bid.</p>
<p>The three-level Bourke Street terrace (above and below) sold after competition from around eight of the 14 buyers registered.</p>
<p>There were four bidders in the final $150,000.</p>
<p>Agent Michael Kirk of BresicWhitney said the property’s position near the soon to be completed Sydney Light Rail was "a considerable draw."</p>
<p>“Now that the light rail is starting to near completion it’s starting to benefit a lot of the nearby housing,” Mr Kirk said.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/15/625%20Bourke%20Street%20Surry%20Hills%202.jpg" alt=""></p>
<p>He added that he had known the property would attract strong bidding in the post-election house market but was surprised just how competitive the auction had turned out for <a id="LPlnk205792" class="OWAAutoLink" href="https://www.realestate.com.au/property-terrace-nsw-surry+hills-131377266">625 Bourke St</a>.</p>
<p>It had a $2.4 million price guide. There had been a <a id="LPlnk547927" class="OWAAutoLink" href="https://www.realestate.com.au/sold/property-house-nsw-surry+hills-127709554">nearby $3.05 million</a> early last year.</p>
<p>The weekend offering was a five bedroom corner terrace, just four doors from Devonshire Street, which had appeal to investors and part-owner occupiers since it had been converted to two apartments.</p>
<p>Investors were anticipating $1,850 a week.</p>
<p>Not all Sydney terrace auctions had prices flying past reserve.</p>
<p>At Glebe $1.21 million was paid for a two bedroom terrace on <a id="LPlnk682018" class="OWAAutoLink" href="https://www.realestate.com.au/property-house-nsw-glebe-131375286">Lyndhurst Street</a> (below) which was below its $1.45 million hopes when it failed to sell last July.</p>
<p>Its price fell short of doubling its last sale price of $635,000 in boom time 2003.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/15/6%20Lyndhurst%20Street%20Glebe%20NSW%202037%20.jpg" alt=""></p>
<p>Matthew Carvalho of Ray White was quoting a $1.1 million guide for the weekend auction with it announced on market at $1.205 million.</p>
<p>The national preliminary clearance rate sat at 69 per cent across the combined capital cities.</p>
<p>There were 854 homes taken to auction down slightly on the prior week's 953 homes when there was a 64 percent final clearance, the highest final clearance rate since April last year.</p>
<p>The final clearance rate has held above 60 per cent for the last four weeks.</p>
<p>Over the same week last year, auction activity was higher with 1,178 homes taken to auction returning a clearance rate of 52 per cent.</p>
<p>Melbourne was the busiest with 352 auctions returning a preliminary clearance rate of 73.6 per cent.</p>
<p>The volume in Melbourne was down on the 388 prior week offering but up on the final clearance rate of 67.2 per cent.</p>
<p>"Melbourne’s final clearance rate has held above 65 per cent for theist 3 weeks and it’s looking like this week will return a similar result," Kevin Brogan said.</p>
<p>Over the same week last year, Melbourne had a clearance rate of 56.2 per cent was recorded across 559 auctions.</p>
<p>Melbourne's top weekend result was at Malvern at $2.555 million. The <a id="LPlnk951068" class="OWAAutoLink" href="https://www.realestate.com.au/property-house-vic-malvern-131387626">43 Cawkwell Street, Malvern</a> offering (below) had $2.32 million to $2.4 million price guidance from its selling agent Barbara Thomas at Thomas Moreland.</p>
<p>There was no heritage overlay on the three bedroom house set on 618 sqm. It last sold at $75,000 in 1981.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/15/43%20Cawkwell%20Street%20Malvern%20Vic%203144%20.jpg" alt=""></p>
<p>There were $1000 bids when the auction at <a id="LPlnk45011" class="OWAAutoLink" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1PaqY9h1STmVnIaUvicidZtq7CetTEun8Rl/Ik6ncJxPQtKYvwmbRprG2uw3Lv17002UVWM5ek6NBPfzebDMX0n9jlg1dPh1qq24BqwX+V80OjApg278Wb8=&amp;rh=ff004ea02a92cb03476ad612c349bad650ed4043">14 Woodhouse Grove, Box Hill</a> (below) saw Ray White agent Hugh Francis secured $1.09 million, some $150,000 above reserve with six bidders.<br><br>“At $1,020,000, it got down to $1000s and $2000 bids,” agent Hugh Francis said. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/15/14%20Woodhouse%20Grove%20Box%20Hill.jpg" alt=""></p>
<p>Its price guidance had been $880,000 to $968,000.</p>
<div>
<p>Sydney recorded a preliminary clearance rate of 77.2 per cent across 318 auctions.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/15/July15%20-%20auction%20stats.jpg" alt=""></p>
<p>Over the previous week, 71.3 per cent of the 359 auctions were successful, the highest final clearance rate the city has seen since in over two years.</p>
<p>"This week’s final figure may just hold above 70 percent again as remaining results are collected," CoreLogic auction analyst Kevin Brogan said.</p>
<p>One year ago, 408 auctions were held across Sydney returning a final clearance rate of 46.9 per cent.</p>
<p>Across the smaller auction markets, Brisbane saw higher volumes week-on-week while all other cities saw fewer homes taken to auction.</p>
</div>
<p>Dr Andrew Wilson, chief economist of <a href="http://myhousingmarket.com.au/">MyHousingMarket.com.au</a> commented that the lowering weekend auction volumes had declined "to what are now remarkably low levels – particularly in Sydney and Melbourne – even for the typically quieter mid-winter housing market."</p>
<div>
<div dir="ltr">Buoyed by lower interest rates and a well-overdue easing in lending conditions, Dr Wilson said the "acid test" for a recovering market will however come in just over a month.</div>
</div>
</body></html>

jchancellor-FAypfDUnLy

Auction momentum continues as Surry Hills terrace sells $700,000 over reserve

<html><body>
<p class="p1">A number of happy Sydney auction sellers are reaping the real estate rewards of the Morrison Government’s surprise federal election victory.</p>
<p class="p1">In a market rebound being dubbed “The ScoMo effect”, homes which had recently been passed in during the two-year housing slump sold at a price almost $400,000 higher just seven weeks later in light of record low interest rates, a loosening of lending regulations and the vital removal of the threat of Labor negative gearing and capital gains policies set to punish investors, owners and renters.</p>
<p class="p1">Economists factoring a Labor victory into their housing forecasts for the winter outlook said Prime Minister Scott Morrison’s re-election had removed a massive negative facing an already jittery property market.</p>
<p class="p1">“Given the difficulty in predicting the election, our house price forecasts had allowed for a 50 per cent probability (i.e. 50/50 Labor would win) of an 8 per cent additional drag on prices in Sydney,” AMP chief economist Shane Oliver said. “Now it’s zero and we need to remove this from our forecasts.”</p>
<p class="p1">Ray White selling agent Shaun Burro pointed to a massive spike in auction clearing rates as “a complete U-turn” in the market.</p>
<p class="p1">The May 18 election day clearance rate sat at around the low 60s and is now often in the 70s, with a 78 per cent success rate advised last Saturday. The rebound was illustrated in an unrenovated three-bedroom Redfern terrace (below) passed in at $1.6 million on the actual day of polling.</p>
<p class="p1"><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/2019/7/15/50%20Thurlow%20Street%20Redfern.jpg" alt=""></p>
<p class="p1">A buyer emerged earlier this month paying $1.971 million, reflecting a $370,000 jump in just seven weeks.</p>
<p class="p1">Buyers’ agent Rodney McLoughlin at TBAS Buyers Agents was at the original auction. “Up to the election outcome, we were witnessing one, maybe two active bidders at auctions, with properties likely selling around the agents’ price guide,” he said.</p>
<p class="p1">However, the post-election auctions are attracting three to four active bidders, with properties often selling around 10 per cent over the price guide, he said. “Exceptional properties are now selling around 15 per cent over the agents’ guide,” he said.</p>
<p class="p1">Mr Oliver also cited the action under the hammer as evidence of the ScoMo effect.</p>
<p class="p1">“So far it’s mostly evident in the auction market as other data comes out with a much longer lag,” he said.</p>
<p class="p1">“Auction clearances may relate to only a portion of the market but they are usually a pretty good guide to the broader market.”</p>
<p class="p1">SQM property research analyst Louis Christopher said there are more buyers in the market compared to the time prior to the election, citing the win, APRA announcing their loosening lending and the interest rate cuts as the three main factors.</p>
<p class="p1">Kellyville couple Clive and Jeanette Desira are attempting to capture on the heightened auction confidence with a July 31 marketing campaign with Ray White Castle Hill to sell their five-bedroom Springwood Boulevard (below) home.</p>
<p class="p1"><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/2019/7/15/69%20Springbrook%20Kellyville.jpg" alt=""></p>
<p class="p1">The home, built by the couple on a 605sq m block in 2015, was listed before the election without success but Mr Desira is now feeling more optimistic.</p>
<p class="p1">“I think the market has changed,” Clive said.</p>
<p class="p1">“There’s a little bit more confidence since the return of the government, plus lower interest rates and also the changes in the way banks assess loans.</p>
<p class="p1">“I believe buyers’ confidence is back. I think we’ll see stock moving.”</p>
<p class="p1">CoreLogic’s June home value index revealed Sydney’s prices rose 0.1 per cent last month — the first month without a price fall in two years.</p>
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The ScoMo effect on Sydney's auction clearance rates

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<p>The weekend auction success rate gathered momentum amid the winter seasonal listings slowdown.</p>
<p>With fewer properties offered, Sydney's preliminary clearance rate jumped to 78 percent and Melbourne hit 70 percent.</p>
<p><span>Auction volumes fell week-on-week across all capital cities, while the preliminary results had clearance rates up in all cities except Perth.</span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/8/Core%20Logic%20-July%208.jpg" alt=""></span></p>
<div class="_3MT_w">The weekend's priciest auction offering was a stunning beachside home at Manly, which failed to sell.</div>
<p>Despite the buyer interest, it was passed in on a $15 million vendor bid at Manly, as none of the three registered bidders nor several other contract holders were willing to bid for the Vince Squillace-designed home.</p>
<p>Set on an 822sqm block, the three level home at <a href="https://www.clarkeandhumel.com.au/buy/for-sale/38-bower-street/" target="_blank">38 Bower Street</a> (above and below) has multiple living spaces that spill out on to terraces surrounded by tropical gardens.</p>
<p>A whole-floor home office opens to a rooftop terrace overlooking Shelly Beach and Cabbage Tree Bay.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/8/38%20Bower%20Street%20Manly%202.jpg" alt=""></p>
<p>The home was auctioned after Michael Clarke and Cherie Humel, in conjunction with Jake Rowe, gave a price guide of $15 million to $16.5 million.</p>
<p>It was listed by outdoor sports advertising boss Ray Balcomb and his wife Julie, who designed the home to emulate a luxury Greek villa.</p>
<p>Last sold for $7.25 million in 2013, the Bower St home was until two years ago their weekender as they lived in Duffys Forest on one of Sydney’s finest equestrian estates. </p>
<p>The dearest sale across the capital cities was $4,175,000 at Elizabeth Bay through Ray White agent Nick Thompson.</p>
<p>The three bedroom, two bathroom <a href="https://www.propertyobserver.com.au/https://raywhiteelizabethbay.com.au/properties/sold-residential/nsw/elizabeth-bay-2011/apartment/2122790" target="_blank">35/93 Elizabeth Bay Road</a> (below) apartment sits on the top floor of the early 1980s Kincoppal complex.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/8/Elizabeth%20Bay%20apartment.jpg" alt=""></p>
<p><span>It has 274sqm of living space plus a 33 sqm double garage.</span></p>
<p>It last sold at $925,000 in 1986, and ranked as the seventh apartment within the complex to have fetched $4 million plus in the past seven years.</p>
<p>It sold to an investor with two other apartments in the harbour front complex.</p>
<p>Melbourne's top sale was also a waterfront.</p>
<p>Overlooking boat sheds, the <a href="https://www.hockingstuart.com.au/property/3-15-morton-grove-chelsea-vic-3196-139158" target="_blank">3/15 Morton Grove, Chelsea beachfront townhouse</a> (below) offering was sold pre-auction at $2 million.</p>
<p><img src="https://www.urban.com.au/images/2019/7/8/Chelsea%20Beachfront.png" alt=""></p>
<p><span>It had $2.4 million to $2.5 million guidance late last year through Hocking Stuart after its recent completion.</span></p>
<p>Brisbane's top sale was when a <span>Queensland pastoralist bought </span>at<span> Clayfield for $2.8 million. </span></p>
<p><span>The 1929 trophy home, Highgate sold through Ray White having been initially listed with $3.2 million hopes with another agent.</span></p>
<p>Designed by Richard Gailey, the Spanish mission residence at <a href="https://www.propertyobserver.com.au/https://rwnf.com.au/properties/residential-for-sale/qld/clayfield-4011/house/2120755" target="_blank">117 Adelaide Street E, Clayfield</a><a href="https://www.raywhite.com/qld/clayfield/2120478/" target="_blank"> </a>(below) has been tightly held for the past four decades. </p>
<p>Set on 1,710 sqm, Highgate has six bedrooms, formal and informal dining and lounge rooms, a freestanding office and a billiard room.</p>
<p>Under a terracotta tile roof, Highgate still has a number of original features, including a working fireplace, lead lighting, french doors, hardwood floors, decorative horse-hair plaster ceilings, and hand-cut crystal chandeliers.</p>
<p>In the grounds is a saltwater swimming pool.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/8/East%20Clayfield.jpg" alt=""></p>
<p>Christine Rudolph and Matt Lancashire of Ray White New Farm had the listing. </p>
<p>The nation's cheapest sale came in Sydney when a three bedroom Willmot house fetched $232,000.</p>
<p>The fire damaged <a href="https://lsre.com.au/property/house-nsw-willmot-1p3838/">6 Balboa Place offering</a> was marketed by Laing &amp; Simmons as having dual occupancy potential given its 626 sqm block.</p>
<p><span>The first week of July saw the combined capital city clearance rate above 60 per cent for fourth </span><span>consecutive week, according to CoreLogic which put the national figure at 68 percent.</span></p>
<p><span><span>Auction volumes remain lower year-on-year, with 1,411 auctions held this time last year, compared to <span>945 capital city auctions this weekend, which included 388 in Melbourne and 552 in Sydney.</span></span></span></p>
<p><span><span><span>There had been a higher 1,295 capital city homes auctioned in the last week of June.<br></span></span></span></p>
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Manly trophy home passed in on $15 million vendor bid amid strenthening weekend auctions

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<div>
<div>Both Melbourne and Sydney saw their auction clearance rate sit above 70 percent, however there's no new boom, according to one auction commentator.</div>
<div> </div>
<div>The final tally will revise lower as late results but sit in the commendable high 60 per cent range.</div>
<div> </div>
<div>The unreported results include <a href="https://www.raywhite.com/nsw/vaucluse/2120246/?lang=en" target="_blank">a Vaucluse trophy home</a> (top) which was passed in on a $16 million vendor bid at its late Saturday afternoon auction.</div>
<div> </div>
<div>There had been just the one bid taken by auctioneer, Damien Cooley of $15 million for the home of hotelier Ashton Waugh who'd listed the home with a $16 million price guide through Gavin Rubinstein, the Ray White network’s top performer.</div>
<div> </div>
<div>The three-level home was completed two years ago with five bedrooms and seven bathrooms.
<p>Peter Ahern of buck&amp;simple Architecture redesigned the Gilliver Avenue home with a panorama that takes in the city skyline, Opera House and Harbour Bridge from its 835 square metre block that cost $6.7 million in 2004.</p>
</div>
</div>
<div>There were 1,292 capital city homes taken to auction over the final weekend of June, returning a preliminary national auction clearance rate above 60 percent for the third consecutive week.</div>
<div> </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/1/CoreLogic%20weekend%20June%2030.jpg" alt=""></div>
<div> </div>
<div>It was 66.5 percent nationally, according to CoreLogic auction analyst Kevin Brogan.</div>
<div> </div>
<div>The winter hibernation kicks in with lower listings down on the 1,484 homes and <span>1,487 auctions held over the prior weekends</span>.</div>
<div> </div>
<div>Sydney was the strongest market with volumes down to 503 auctions from the 558 auctions held over the week prior.</div>
<div> </div>
<div>Sydney returned a preliminary auction clearance rate of 72 percent with the top sale being an Elizabeth Bay apartment in The Palms harbourfront complex.</div>
<div> </div>
<div>The three bedroom <a href="https://www.raywhite.com/nsw/elizabeth-bay/2108574/?lang=en" target="_blank">8/12-16 Billyard Avenue</a><span> offering (below) fetched $3,815,000 with four registered bidders. </span>
</div>
<div> </div>
<div>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/1/Billyard%20Avenue%20Elizabeth%20Bay.jpg" alt=""><br><br><span>More than 100 groups went through the open homes, Ray White agent Ian Campbell said.</span>
</div>
<div><span> </span></div>
<div><span><span>"There's a shortage of stock at the moment, and when you combine that with increased buyer confidence since the election, it makes sense that open home numbers and auction clearance rate numbers are up," he said.</span><br><br><span>"The buyers loved the convenience of being able to walk in to the city or take the ferry," Campbell added.</span></span></div>
<div><span><span> </span></span></div>
<div><span><span>The buyer was also keen on securing a berth for a boat on the adjoining block, Domain reported.</span></span></div>
<div><span><span> </span></span></div>
<div>
<span><span><span>The </span></span></span>Ray White Elizabeth Bay selling agent Renee Cross had given $3.7 million price guidance for the split level, three bedroom, 231sqm apartment with two cars spaces.</div>
<div> </div>
<div>It last sold at $990,000 in 1995. </div>
<div> </div>
<div>Melbourne returned a 70.6 percent preliminary auction clearance rate this week, increasing on the 68.9 percent final clearance rate last week.</div>
<div>
<div> </div>
<div>Its volumes were lower week-on-week, with 536 homes auctioned down on the 635 auctions held the previous weekend.</div>
<div> </div>
<div>A four bedroom Kew home was Melbourne's top sale. The <a id="LPlnk363779" class="x_OWAAutoLink" href="https://kayburton.com.au/real-estate/house-58-alfred-street-kew-vic-3101-1325077" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">58 Alfred Street offering</a> (below) was passed in for $4.25 million with Domain reporting it sold post auction for $4.35 million to an investor, who plans to rent it out.</div>
<div> </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/1/Alfred%20Street%20Kew.jpg" alt=""></div>
<div> </div>
<div>Melbourne saw a pre-auction sale when $2,308,888 was paid for <a href="https://www.barryplant.com.au/glenwaverley/property/603012/48-orchard-street-glen-waverley/" target="_blank">48 Orchard Street, Glen Waverley</a>.</div>
<div><span> </span></div>
<div><span>It was a five bedroom, two storey house sold through Barry Plant having sold in 2011 at <span>$1,998,888</span>.</span></div>
<div> </div>
<div>The weekend auction performance was varied across the smaller auction markets with Adelaide seeing a 68.9 percent success rate, while only 33.3 percent of homes sold across Perth.</div>
</div>
<div>
<div> </div>
<div>Brisbane had a 36 percent clearance rate including the nation's cheapest sale.</div>
<div> </div>
<div>It was the three bedroom at <a href="https://christopherliu.raywhite.com/qld/kingston/2121864/" target="_blank"><span>34 Antares Avenue, Kingston</span></a> (below) which fetched $195,000.</div>
<div> </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/1/Antares%20Avenue%20Kingston.jpg" alt=""></div>
<div> </div>
<div>It last sold at $60,000 in 1998.</div>
<div> </div>
<div>"Bring your tools," said Ray White Logan selling agent Chris Liu.</div>
</div>
<div> </div>
<div>The higher auction results were aligning with the trend in housing values, Kevin Brogan said, noting the rate of decline had been consistently improving through 2019, largely driven by improved conditions across Sydney and Melbourne.</div>
<div> </div>
<div>"If we see auction clearance rates holding above the 60 percent mark consistently, it’s a firm sign that buyer and seller price expectations are more balanced and housing prices are finding a new floor," he said.</div>
<div> </div>
<div>Property commentator Andrew Wilson said the weekend results reflected a "steady solid winter market on the road to recovery for Sydney and Melbourne."</div>
<p><span>"Sydney and Melbourne home auction markets continue to report clearance rates at the highest levels since 2017 with solid rising buyer momentum contrasting to the fading market of a year ago," Dr Wilson noted.</span></p>
<p><span>"Seller numbers however remain relatively subdued – particularly in Melbourne and will remain so for at least the next month over the school holiday period. </span></p>
<p><span>"Lower interest rates are a key catalyst for a recovery in buyer confidence with another cut next week by the RBA - if it eventuates - to continue fuel a market revival," Dr Wilson said.</span></p>
<p>"There's no new boom as yet though" said SQM's Louis Christoper.</p>
<p> </p>
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Stronger weekend auction success rates, but no new boom as yet though: Louis Christopher

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<p class="first-para">The Hawthorn East home of Australian pop princess Dannii Minogue sold after its weekend auction for $2.56 million having drawn only one bid from a buyer.</p>
<p class="first-para">The sale helped Melbourne return to rank as the nation's strongest auction market, for just the third time this year.</p>
<p>The star’s former home on <a id="LPlnk994251" class="OWAAutoLink" href="https://www.propertyobserver.com.au/https://www.jelliscraig.com.au/property-details-466-Tooronga-Road-Hawthorn-East-3123/799557" target="_blank">Tooronga Road</a> (above) did sell at a slight discount to the $2.6 million pre-auction price guide.</p>
<p>The four-bedroom home was auctioned by Peter Batrouney, of Jellis Craig, who placed a vendor bid of $2.5 million, with the sole bidder then offering $2,525,000.</p>
<p>Minogue paid $2.05 million in 2010.</p>
<p>Melbourne's top sale was the townhouse at <a id="LPlnk917277" class="OWAAutoLink" href="https://www.sweeneyea.com.au/4885640/" target="_blank">2/10 Clark Street, Williamstown</a> (below) at $2.65 million. It was a contemporary four level offering designed by architect Tina Lindner.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/24/Williamstown1.jpg" alt=""></p>
<p>It had a price guide of $2.5 million to $2.7 million through Sweeney Estate Agents.</p>
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
<p>In Melbourne, 644 auctions were held across the city returning a preliminary clearance rate of 69.7 percent. </p>
<p>Last week saw 724 homes taken to auction with a final clearance rate of 64.9 percent.</p>
<p>The Herald Sun reported a 410 sqm Surrey Hills offering, occupied by a scout hall, failed to raise any interest at auction.</p>
<p>It had been listed by Fletchers Canterbury with a price guide of $1.3 million to $1.4 million.</p>
<p><a id="LPlnk631878" class="OWAAutoLink" href="https://fletchers.net.au/24154/7-robinson-road-surrey-hills" target="_blank">The 7 Robinson Road holding</a> (below) has been listed now at $1.38 million. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/24/scout%20hall%201.jpg" alt=""></p>
<p>Scouts Victoria bought the property in 1955 and built the hall. </p>
<p>"Melbourne’s final clearance rate has been increasing each week over the month of June and this week is likely to hold above 65 per cent for the first time in over a year," CoreLogic auction analysts Kevin Brogan said.</p>
<p>Over the same week last year, a clearance rate of 59.9 per cent was recorded across 941 auctions.</p>
<p>The nation's top auction sale was $7.1 million at <a id="LPlnk714345" class="OWAAutoLink" href="https://www.devinere.com.au/23-newton-road-strathfield-4891963/" target="_blank">23 Newton Rd, Strathfield</a>, (below), one of only two homes remaining from a housing estate developed in 1927-28.</p>
<p>It sold for $300,000 over reserve, according to the Sunday Telegraph.</p>
<p>Sutherwood, a Tudor-style home, <a href="/news/strathfield-trophy-home-sells-for-7-1-million">sold at $300,000 above</a> its 2016 sale price of $6.8 million.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/24/Strath1.jpg" alt=""></p>
<p>The vendors undertook a major renovation, adding an upstairs extension which was costed at $420,000, and installing a new kitchen.</p>
<p>Selling agent Steven Devine of Devine Real Estate said the 2036 sqm property probably had the biggest tennis court in Strathfield.</p>
<p>Five buyers registered for the auction, with four taking part after its $5.8 million opening bid. </p>
</div>
<div class="column">
<p>Sydney recorded a preliminary clearance rate of 67.1 percent across 551 auctions. </p>
<p>Over the previous week, 66.4 per cent of the 534 auctions were successful, the highest final clearance rate the city has seen since Easter last year. </p>
<p>"This week’s final figure will be lower week-on-week, although it will likely hold above or close to 60 percent," Brogan advised.</p>
<p>One year ago, 641 auctions were held across Sydney returning a final clearance rate of 50.1 per cent.</p>
<p>There was no sale with a Freshwater offering. The <a id="LPlnk531085" class="OWAAutoLink" href="https://www.stonerealestate.com.au/property/4904444-23-carrington-parade-freshwater-nsw/" target="_blank">23 Carrington Parade</a> (below) property was won by the vendor in a 2016 RSL Art Union raffle in 2016. The property passed in with a bid of $3.8 million, below its $3.9 million auction guide through Stone Real Estate.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/24/Freshwater.jpg" alt=""></p>
<p>AMP Capital's Shane Oliver noted that the "post-election bounce was continuing but looks constrained especially in Sydney."</p>
<p>Across the smaller auction markets, Perth saw lower volumes week-on-week and just a 16 percent success rate while all other cities saw an increase in auction volumes.</p>
<p>Brisbane had 114 scheduled auctions and a reported clearance rate of 34 percent.</p>
<p>Queensland had the nation's cheapest auction result.</p>
<p>It was <a id="LPlnk277824" class="OWAAutoLink" href="http://professionalscaboolture.com.au/real-estate/property/1061827/22-rosemary-street-caboolture-south-qld-4510/" target="_blank">22 Rosemary Street, Caboolture South</a> (below) which fetched $171,000 at a mortgagee auction. There were two bidders.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/24/Caboolture.jpg" alt=""></p>
<p>The three bedroom high set home came with two car garage underneath on its 405 sqm block, inland from Bribie Island.</p>
<p>It last sold at $143,000 in 2004.</p>
<p>"The upstairs living area needs repairs and will make a good project," the selling agent, John Dunne at the Professionals Caboolture advised.</p>
<p>There were 1,480 homes taken to auction across the combined capital cities returning a preliminary clearance rate of 63.7 percent.</p>
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
<p>It was down on last week which saw 1,505 homes taken to auction with the final clearance rate coming in at 61.8 per cent, the highest final clearance rate since May last year. </p>
<p>"After remaining results are collected we expect the final clearance rate to be slightly lower week-on- week," Brogan said.</p>
<p>Over the same week last year, auction activity was higher with 1,849 homes taken to auction returning a clearance rate of 55.5 percent.</p>
<p>Brogan said the influence of winter was clear in the overall decline in auction volumes.</p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<p class="first-para"> </p>
<p class="first-para"> </p>
<p class="first-para"> </p>
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Dannii Minogue sells in improving Melbourne auction market

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<p>A Ray White Townsville auction event secured a 100% clearance rate this week.</p>
<p>Ray White Townsville agent Julie Mahoney sold five out of five of the properties that were set to go under the hammer.</p>
<p>Four of the five sold at auction, with another selling prior.</p>
<p>Mahoney said all the homes offered were inner-city and were either fully renovated or on larger blocks, with four surpassing their reserve prices.<br> <br>“It’s not every night you have a 100 per cent clearance rate and we achieved nearly $1.4M combined for our vendors, so it was a great evening,” Mahoney said.</p>
<p>The priciest sale was the one secured pre-auction which saw a Rowes Bay home at <a href="https://www.realestate.com.au/sold/property-house-qld-rowes+bay-131294686" target="_blank">10 Palm Street</a> (above) sell for $925,000.</p>
<p>The cheapest sale was a <a href="https://www.realestate.com.au/property-house-qld-hyde+park-131294694" target="_blank">two bedroom Dillane home</a> (below) that sold for $222,500.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/21/West%20End.jpg" alt=""></p>
<p>The other three sales were a $597,000 sale at <a href="https://www.realestate.com.au/property-house-qld-townsville+city-131294690" target="_blank">8 Murray Street, Townsville City</a>, a $335,000 sale at <a href="https://www.realestate.com.au/property-house-qld-west+end-131294698" target="_blank">17 Mary Street, West End</a> and a $235,000 sales at <a href="https://www.realestate.com.au/property-house-qld-west+end-131294710" target="_blank">10A Cowley Street</a>, also in West End.</p>
<p><span>“Townsville is fast approaching a ‘normal’ market and the announcement of massive projects and the Adani approval has signaled confidence and the promise numerous job opportunities," Mahoney said.</span><br><span> </span><br><span>“The election has definitely resulted in renewed confidence in property as an investment option for the future. </span><br><br><span>“I believe the community voted strongly for employment, small businesses and for our farming community.</span><br><span> </span><br><span>“The venue at the Ville is an upmarket destination overlooking our beautiful magnetic Island with a choice of bars and restaurants and it’s a testament to my whole team that the night was such a success.</span></p>
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jrobinson-rf4aSBido9

100% clearance rate for Ray White Townsville auction event

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<p>A heritage Flemington shopfront residence, most recently known as Macca’s Milk Bar, fetched $936,000 at weekend auction.</p>
<p>The offering at <a id="x_mcntLPlnk786746" class="x_mcntOWAAutoLink" href="https://www.propertyobserver.com.au/https://www.jelliscraig.com.au/property-details-31-Dover-Street-Flemington/797226" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">31 Dover Street</a> (above), in Melbourne's north west, went to auction with an $800,000 to $880,000 price guide through Jellis Craig.</p>
<p>The property retains the original 1890s grocery store facade.</p>
<p>The three bedroom, two bathroom residence that last sold for <span id="x_mcntSalePrice" class="x_mcntapmpf_refreshFont--plain" title="Click to view more details about this sale Land Area $/m2: $578">$</span><span id="x_mcntSalePrice" class="x_mcntapmpf_refreshFont--plain" title="Click to view more details about this sale Land Area $/m2: $578">107</span><span id="x_mcntSalePrice" class="x_mcntapmpf_refreshFont--plain" title="Click to view more details about this sale Land Area $/m2: $578">,000</span> in 1988 operated as a business, with popular lolly counter, until 1999. </p>
<p>Its sale came as momentum returned to the improving national housing market on the first big auction weekend since the Reserve Bank's sugar hit, a cut in the cash rate to a record low of 1.25 percent.</p>
<p>"The post election and rate cut bounce is continuing," Dr Shane Oliver, AMP Capital chief economist said, adding he estimated Sydney's final tally would see the best clearance rate in two years and Melbourne's best in 15 months.</p>
<p>Melbourne was host to 725 auctions with preliminary results returning a 67.9 percent clearance rate. </p>
<p>Volumes are still well down as this time last year, 992 Melbourne homes were taken to auction and a final clearance rate of 56.2 percent was recorded. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/18/cap-june17.jpg" alt=""></p>
<p>"Melbourne’s final clearance rate has held above 60 per cent for three of the last four weeks and this week will be no different," said CoreLogic auction analyst Kevin Brogan.</p>
<p>Melbourne's top sale was $2.56 million in St Kilda West. The seven bedroom terrace at <a id="x_mcntLPlnk686385" class="x_mcntOWAAutoLink" href="https://www.wilsonagents.com.au/4887125/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">18 Park Street</a> has been tipped by Wilson Real Estate to fetched between $2 million to $2.2 million. There were six bidders.</p>
<p>Sydney was the leading market with a 74.7 percent preliminary rate.</p>
</div>
<div class="x_mcntcolumn">
<p>In Sydney, 522 homes were taken to auction this week, up from 313 last week. </p>
<p>The preliminary clearance rate came in up from the prior weekend's 56.2 percent. </p>
<p>"Even after we see the usual downwards revision over the week it’s looking like this week will be the most successful result the city has seen since at least April last year, or possibly longer," Brogan said. </p>
<p>One year ago, a clearance rate of just 49.4 per cent was recorded across 708 auctions.</p>
<p>Sydney's top sale was near a harbour front at Lavender Bay when a three-bedroom, two-bathroom property at <a id="x_mcntLPlnk585085" class="x_mcntOWAAutoLink" href="https://www.belleproperty.com/listings/796421/20-bay-view-street-lavender-bay-nsw-2060/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">20 Bay View Street</a> (below)<a id="x_mcntLPlnk331196" class="x_mcntOWAAutoLink" href="https://www.domain.com.au/20-bay-view-street-lavender-bay-nsw-2060-2015282620" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable"> </a>fetched $6.71 million.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/18/Lavender.jpg" alt=""></p>
<p>It was for sale the first time in more than four decades having last sold in 1977 for $80,000. </p>
<p>There were 14 registered bidders, eight of whom participated in the auction which saw the reserve exceeded by $1.2 million.</p>
<p>It sold with architectural plans by Allen Jack+Cottier to local downsizers who plan to rebuild on the 373 sqm block.</p>
<p>There was a $5.9 million sale in Pymble, on Sydney's upper north shore. The five bedroom, three bathroom home at <a id="x_mcntLPlnk171181" class="x_mcntOWAAutoLink" href="https://www.dijones.com.au/property/house-nsw-pymble-1p25036/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">62 Pymble Avenue</a> (below) was sold by Di Jones agent Tim Fraser at $100,000 over reserve.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/18/Pymble1.jpg" alt=""></p>
<p>The 2500sqm property with a tennis court and pool saw six local buyers register to bid.</p>
<p>CoreLogic advised 13 out of the 15 Sydney sub-regions returned preliminary clearance rates over 60 percent, 10 of which returned over 70 percent. There were three Sydney sub-regions with a preliminary clearance rate over 80 percent, Ryde, the Inner West and the Hills district.</p>
<p>Across the smaller capital city auction markets, Adelaide and Canberra saw an increase in the number of homes taken to auction, while Brisbane and Perth saw lower volumes week-on-week.</p>
<p>Deception Bay, a 40 minute drive from Brisbane, secured the nation's cheapest auction outcome when $250,000 was paid pre-auction for <a id="x_mcntLPlnk437722" class="x_mcntOWAAutoLink" href="https://www.propertyobserver.com.au/https://raywhitedeceptionbay.com.au/properties/sold-residential/qld/deception-bay-4508/house/2104127" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">5 Hughes Street, Deception Bay</a>.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/18/Deception.jpg" alt=""></p>
<p>The sale of the three bedroom home through Ray White agent Tiffany Franklin was at $27,000 higher than its last sale in 2004.</p>
<p>There were no auctions held in Tasmania this week.</p>
<p>After the long weekend slowdown, national auction volumes increased week-on-week with 1,487 auctions held across the combined capital cities, returning a preliminary auction clearance rate of 66.4 percent.</p>
<p>Over the previous week, the final clearance rate dipped to 48.3 percent across 805 auctions.</p>
<p>"It’s likely that as the remaining results are collected, the final result will still hold above 60 per cent for the first time in over a year," Kevin Brogan suggested.</p>
<p>Over the same week last year, auction volumes were higher at 2,002, with the clearance rate a weaker 52.4 percent.</p>
<p>Domain recorded similar numbers to CoreLogic with a 65 per cent preliminary national clearance rate, 70.6 percent in Sydney and 65 percent in Melbourne.</p>
<p>The Domain economist <span class="x_mcntqu">Trent Wiltshire said the </span>market had picked up, but market conditions were still soft, he warned, with the clearance rate still below the decade average and auction volumes also down 20 percent year on year.</p>
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Macca's Milk Bar sells as sugar hit puts auction success rate at year highs

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<p><span>Weekend sales across the nation pointed to a return of confidence in the market after weeks of jitters leading to the federal election.</span></p>
<p>Brisbane's top sale, which fetched $1.155 million, was Bill's-hill Cottage, which dates back to the 1880s.</p>
<p>With three owners since it was built, the nine-room abound with original fixtures meticulously restored by the current owners.</p>
<p><span>"Behind the charming, traditional facade you will find a generously proportioned home with carefully considered modernised areas such as the family-sized kitchen and tiled bathrooms, all designed with a nod to the house's rich heritage," the marketing said.</span></p>
<p>The original hoop pine floorboards had been sanded and finished with Tung oil at the <a href="https://www.propertyobserver.com.au/http://remaxriverside.com.au/20156979" target="_blank">9 Macartney Street, Paddington offering</a> (top).</p>
<p>The home came with original fretwork, locks, switches and ironmongery.</p>
<p>A bound history book on the property was presented to the new custodians of Bill's-hill Cottage.</p>
<p>There is scope to build underneath and add a swimming pool to the rear garden on the 460 sqm block, "all without fear of over-capitalising," its RE/MAX Riverside selling agent Chris White said. </p>
<p><span>White had 82 pre-auction inspections over the five week marketing campaign.</span></p>
<div>There were six registered bidders - including three buyers' agents, one of whom secured the property on behalf of clients.</div>
<div> </div>
<div>Some 40 bids were taken after the 20 minute auction started at $880,000.</div>
</div>
</div>
</div>
</div>
<p>Melbourne's top sale was $4,515,000 in Clifton Hill when <a href="http://www.collinssimms.com.au/?/property/3345034/6-south-terrace-clifton-hill-vic-3068" target="_blank">Grace Darling, a grand 1892 terrace</a> (below) was sold through Collin Simms Inner North agents Antony Woodley and Antony Harbor.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/27/Clifton.jpg" alt=""></p>
<p>The five bedroom, three bathroom home at 6 South Terrace had been renovated and extended by its architect/owner Damien Bonnice.</p>
<p>The three level home with parkland and city views sits on 435sqm with an arcaded Italianate facade.</p>
<p>The pre-auction price guidance was $3.9 million to $4.25 million.</p>
<p>It last sold at $450,000 in 1993.</p>
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<p><span>There were 2,041 homes taken to auction across the combined capital cities after the previous week saw volumes drop to 930, likely due to the federal election.</span></p>
<p>This time last year, volumes were higher with 2,297 auctions held, according to CoreLogic.</p>
<p><span>Preliminary results show a national clearance rate of 62.6 per cent across the combined capital cities</span><span>.</span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/27/Auctions-May27.jpg" alt=""></span></p>
<p> </p>
<p><span>Last week’s final clearance </span><span>rate came in at 55.2 per cent, the highest clearance rate we have seen since September last year/</span></p>
<p><span>"It’s possible that this week’s final clearance rate </span><span>may top that as remaining results roll in," CoreLogic auction analyst Kevin Brogan said.</span></p>
<p><span>Over the same week last year the final clearance rate was recorded at 56.2 per cent.</span></p>
<p><span><span>"Clearance rates have bounced back and overall the results are consistent with the narrative that confidence is returning to the market after the Federal Election result," Brogan noted.</span></span></p>
<p><span><span>"Stimulatory factors include the continuity in negative gearing and capital gains tax concessions for investors, potential changes to the APRA home loan serviceability buffer and the prospect of imminent reductions in interest rates," he said. </span></span></p>
<p><span>In Melbourne, a preliminary auction clearance rate of 62.9 per cent was recorded across 971 auctions, while the prior weekend saw 432 auctions returning a final clearance rate of 60.7 per cent.</span></p>
</div>
<div class="column">
<p><span>This time last year, 1,132 auctions were held across the city, returning a clearance rate of 59 per cent.</span></p>
<p>The nation's top weekend sale was in pricey Bellevue Hill (below).</p>
<p>The $5.625 million sale was a six bedroom home on 658 sqm at <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house/nsw/eastern-suburbs/bellevue-hill/394023" target="_blank">12 Arthur Street through McGrath</a>.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/27/Arthur1.jpg" alt=""></p>
<p>It last sold at $5.15 million in September 2015.</p>
<p>There were 697 auctions held in Sydney returning a preliminary clearance rate of 69.9 per cent.</p>
<p><span> In comparison, there were just 276 auctions held over the previous week returning a final clearance rate of 56.5 per cent. </span></p>
<p><span>"There is a chance </span><span>that this week’s final clearance rate may just be able </span><span>to hold above 60 per cent after Sydney has seen the final clearance rate sit above 55 per cent for the last three weeks," Brogan said.</span></p>
<p><span>There was a big number of sold before results in Sydney, totalling 140 properties including Purplebricks securing a $468,000 sale for the two bedroom 1/52 Monomeeth Street, Bexley.</span></p>
<p><span> One year ago, 814 auctions were held across Sydney and the clearance rate came in at 56.1 per cent.</span></p>
<p><span>Looking at the smaller auction markets, auction volumes increased week-on-week across all capital cities. </span></p>
<p><span>Preliminary results show that clearance rates were down slightly over the week in Brisbane, while all other cities saw an increase week-on-week.</span></p>
<p>The cheapest sale was $135,000 in Adelaide in a mortgagee sale through Ray White.</p>
<p>The three bedroom house at <a href="https://www.propertyobserver.com.au/https://raywhitecraigmore.com.au/properties/residential-for-sale/sa/elizabeth-east-5112/house/2101904" target="_blank">4 Benham St, Elizabeth East</a> had sold at $150,000 in 2009 when offloaded by the SA Housing Trust.</p>
<p>It was marketed as a maisonette on 653 sqm.</p>
<p>It came with solar panels and there were security window roller shutters on all main windows.</p>
<p><span> </span></p>
<p><span> </span></p>
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<p> </p>
<table style="width: 605px;" border="0" cellspacing="0" cellpadding="5"><tbody>
<tr>
<td colspan="2">
<p>Most expensive</p>
</td>
<td colspan="2"> </td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_0">
<td id="x_rpMostExpensive_tdMostExpensiveCity_0" align="left">Sydney</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_0" colspan="2">12 Arthur St, Bellevue Hill NSW 2023, 6 br House, McGrath - Coogee</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_0">$5,625,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_1">
<td id="x_rpMostExpensive_tdMostExpensiveCity_1" align="left">Melbourne</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_1" colspan="2">6 South Tce, Clifton Hill VIC 3068, 5 br House, Collins Simms</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_1">$4,515,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_2">
<td id="x_rpMostExpensive_tdMostExpensiveCity_2" align="left">Adelaide</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_2" colspan="2">69 Penfold Rd, Rosslyn Park SA 5072, 7 br House, T&amp;T SA</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_2">$1,600,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_3">
<td id="x_rpMostExpensive_tdMostExpensiveCity_3" align="left">Brisbane</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_3" colspan="2">9 Macartney St, Paddington QLD 4064, 3 br House, REMAX First Choice Riverside</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_3">$1,155,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_4">
<td id="x_rpMostExpensive_tdMostExpensiveCity_4" align="left">Canberra</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_4" colspan="2">13 Clarke St, Yarralumla ACT 2600, 4 br House, Peter Blackshaw Real Estate Manuka</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_4">$1,610,000</td>
</tr>
<tr>
<td colspan="2">
<p>Most affordable</p>
</td>
<td colspan="2"> </td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_0">
<td id="x_rpMostAffordable_tdMostAffordableCity_0" align="left">Sydney</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_0" colspan="2">20/68 Gould St, Bondi Beach NSW 2026, 0 br Studio, LITTLE Real Estate New South Wales</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_0">$377,500</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_1">
<td id="x_rpMostAffordable_tdMostAffordableCity_1" align="left">Melbourne</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_1" colspan="2">12/10 Payne St, Caulfield North VIC 3161, 1 br Unit, McGrath Sandringham</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_1">$286,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_2">
<td id="x_rpMostAffordable_tdMostAffordableCity_2" align="left">Adelaide</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_2" colspan="2">4 Benham St, Elizabeth East SA 5112, 3 br House, RW Craigmore</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_2">$135,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_3">
<td id="x_rpMostAffordable_tdMostAffordableCity_3" align="left">Brisbane</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_3" colspan="2">18 Beattie St, Kallangur QLD 4503, 3 br House, RW Samford</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_3">$265,600</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_4">
<td id="x_rpMostAffordable_tdMostAffordableCity_4" align="left">Canberra</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_4" colspan="2">12 Sharwood Cr, Evatt ACT 2617, 4 br House, Luton Properties Tuggeranong CRE</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_4">$480,000</td>
</tr>
</tbody></table>
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Confidence returns to auction market following election result

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<p>The long-time Darlinghurst home of the late Sydney Mardi Gras costume designer Ron Muncaster sold ahead of its scheduled weekend auction.</p>
<p>The <a class="x_OWAAutoLink" href="https://oxfordagency.com.au/residential_post/169-crown-street-darlinghurst-nsw-2010/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Crown Street terrace</a> (above and below), listed 18 months after his death, sold at around its price guide of $2.5 million though Matt Marano of Oxford Real Estate Agency. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/13/Ron2.jpg" alt=""></p>
<p>Muncaster, who was featured in the 2004 documentary Queen Sequina, paid $110,<span class="contextualExtensionHighlight ms-font-color-themePrimary ms-border-color-themePrimary ident_436_465">000 for the 1860s terrace, in</span> 1985, shortly after he started created costumes for the parade participants.</p>
<p>A number of its original features have been retained in the Crown Street offering, including its raw brick and sandstone walls, fireplaces, and exposed original beams.</p>
<p>The four bedroom terrace sits behind a sandstock brick facade on its 180 sqm parcel. </p>
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<p>There were 1,210 homes taken to auction across the combined capital cities this week, returning a preliminary auction clearance rate of 58.1 per cent. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/13/CL-May13.jpg" alt=""></p>
<p>Last week, a higher 1,479 auctions were held with the final clearance rate rising to 52.5 per cent; the second highest clearance rate seen over the year-to-date. </p>
<p>CoreLogic auction analyst Kevin Brogan noted compared to last year, volumes continue to trend lower each week, with almost double the volume of homes taken to auction over the same week in 2018 (2,279) when 58.2 per cent sold.</p>
<p>"Although the clearance rate will adjust lower on the full set of results, the trend over the past two months has seen final auction clearance rates holding around the low-to-mid 50 per cent range and we expect a similar finalised result this week."</p>
<p>Brogan noted the success rate was holding around 10 percentage points higher than late last year, "reflecting a better fit between buyer and seller expectations on prices."</p>
<p>The cheapest sale across the capital cities was $216,500 in Melbourne when <a id="LPlnk30383" class="x_OWAAutoLink" href="https://www.hockingstuart.com.au/property/7-254-dandenong-road-st-kilda-east-vic-3183-159832" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">7/254-256 Dandenong Rd, St Kilda East</a> was sold though hockingstuart.</p>
<p>The 1920s first floor studio apartment had last sold at $143,500 in 2007.</p>
<p>The studio sold for well inexcess of the ANZ Realas website price estimate which suggested its value as $181,000.</p>
<p>The agent's price guide had been $195,000 to $210,000.</p>
<p>It has been a $280 a week rental in recent years.</p>
</div>
<div class="x_column">
<p>In Melbourne, the preliminary auction clearance rate of 56.8 per cent was recorded across 545 auctions, up slightly from the 56.6 per cent final clearance rate last week when a higher 672 homes were auctioned. </p>
<p>One year ago, the clearance rate was a stronger 77.5 per cent across 1,099 auctions.</p>
<p>Melbourne's top result was <a id="LPlnk545050" class="x_OWAAutoLink" href="https://www.cayzer.com.au/property/343-Montague-Street-Albert-Park-3338222" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">343 Montague Street, Albert Park</a> (below) which fetched $3.29 million though Cayzer Real Estate.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/13/Albert1.jpg" alt=""></p>
<p>Its pre-auction price guidance was $3 million to $3.3 million.</p>
<p>The 1890s terrace last sold at $400,000 in 1992.</p>
<p>There were 441 auctions held in Sydney returning a preliminary auction clearance rate of 65.6 per cent; the strongest preliminary result across the capital cities, compared to 57.2 per cent across 539 last week, and 57.5 per cent across 787 auctions one year ago.</p>
<p>Sydney's top sale was <a id="LPlnk818190" class="x_OWAAutoLink" href="https://www.bresicwhitney.com.au/buy/89-johnston-street-annandale-21449" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">89 Johnston Street, Annandale</a> (below) which fetched $4,025,000 through BresicWhitney, after being passed in at $3.9 million.</p>
<p>It last sold at $2.1 million in 2008.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/13/Annan.jpg" alt=""></p>
<p>Set on a 10m-wide block, the five bedroom two bathroom home comes with Himalayan sandstone flooring in its entertaining space.</p>
<p>Across the smaller auction markets, preliminary results show that Perth was the best performing in terms of clearance rate with 53 per cent of auctions successful, however there was only 18 auctions held across the city.</p>
<p>The 1890s Perth home at <a id="LPlnk44574" class="x_OWAAutoLink" href="https://www.propertyobserver.com.au/https://mackhall.com.au/for-sale/perth/37-glendower-street/4223900" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">37 Glendower Street</a>, a three-bedroom, two-bathroom offering redesigned in the 1980s by one of WA's avant-garde architects, failed to find a buyer though Brent Morfesse of Mack Hall.</p>
<p>Brisbane was the weakest performing auction market, according to preliminary results with 83 homes auctioned and 39 per cent been sold under the hammer.</p>
<p>Brisbane's top sale was $881,000 when the four bedroom home at <a id="LPlnk456635" class="x_OWAAutoLink" href="https://www.propertyobserver.com.au/https://raywhiteeightmileplains.com.au/properties/residential-for-sale/qld/eight-mile-plains-4113/house/2092186" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">3 Kirstin Steet, Eight Mile Plains</a> was sold for the first time.</p>
<p>It was the first sale since the land sold in 1973 at $14,000.</p>
<p>Things were looking bleak when <a id="LPlnk247297" class="x_OWAAutoLink" href="https://www.raywhite.com/qld/highgate-hill/2090912/?lang=en" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">169 Gladstone Street, Highgate Hill</a> (below)<a id="LPlnk923402" class="x_OWAAutoLink" href="https://www.domain.com.au/169-gladstone-road-highgate-hill-qld-4101-2015133161" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">,</a> went to auction with just the two onlookers who'd yet to get their finances organised and no registered bidders.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/13/Highgate.jpg" alt=""></p>
<p>But mid-auction, the neighbour stuck their head out of the window, then registered and placed a bid to buy it.</p>
<p>The buyers were the vendor’s children, who had grown up in the property and then moved next door.</p>
<p>“It’s probably the strangest auction I’ve ever had in my career," agent Tom Lyne, of Ray White New Farm told Domain.</p>
<p>It had been for sale over the past two years seeking $850,000 plus, having sold at $905,000 in 2007.</p>
<p>The unrenovated <span>six bedrooms, three bathroom home, with</span><span> potential for re-development, currently has a $985 rental return per week.</span></p>
</div>
</div>
</div>
</div>
<p> </p>
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
<table style="width: 605px;" border="0" cellspacing="0" cellpadding="5"><tbody>
<tr>
<td colspan="2">
<p>Most expensive</p>
</td>
<td colspan="2"> </td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_0">
<td id="x_rpMostExpensive_tdMostExpensiveCity_0" align="left">Sydney</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_0" colspan="2">89 Johnston St, Annandale NSW 2038, 5 br House, BresicWhitney Glebe</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_0">$4,025,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_1">
<td id="x_rpMostExpensive_tdMostExpensiveCity_1" align="left">Melbourne</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_1" colspan="2">343 Montague St, Albert Park VIC 3206, 3 br House, Cayzer Real Estate</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_1">$3,290,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_2">
<td id="x_rpMostExpensive_tdMostExpensiveCity_2" align="left">Adelaide</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_2" colspan="2">25 Heathpool Rd, Heathpool SA 5068, 4 br House, Carter Partners - BURNSIDE</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_2">$1,112,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_3">
<td id="x_rpMostExpensive_tdMostExpensiveCity_3" align="left">Brisbane</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_3" colspan="2">3 Kirstin St, Eight Mile Plains QLD 4113, 4 br House, RW Eight Mile Plains</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_3">$881,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_4">
<td id="x_rpMostExpensive_tdMostExpensiveCity_4" align="left">Canberra</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_4" colspan="2">19 Macartney Cr, Deakin ACT 2600, 4 br House, Belle Property Kingston</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_4">$1,735,000</td>
</tr>
<tr>
<td colspan="2">
<p>Most affordable</p>
</td>
<td colspan="2"> </td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_0">
<td id="x_rpMostAffordable_tdMostAffordableCity_0" align="left">Sydney</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_0" colspan="2">36 Mawson Rd, Tregear NSW 2770, 7 br House, Laing+Simmons Mount Druitt</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_0">$395,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_1">
<td id="x_rpMostAffordable_tdMostAffordableCity_1" align="left">Melbourne</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_1" colspan="2">7/254-256 Dandenong Rd, St Kilda East VIC 3183, 1 br Unit, Hocking Stuart St Kilda</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_1">$216,500</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_2">
<td id="x_rpMostAffordable_tdMostAffordableCity_2" align="left">Adelaide</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_2" colspan="2">2/6 Carlton Rd, Camden Park SA 5038, 2 br House, HAR Sheppard Property RLA 211280</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_2">$365,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_3">
<td id="x_rpMostAffordable_tdMostAffordableCity_3" align="left">Brisbane</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_3" colspan="2">35 Doorey St, Keperra QLD 4054, 3 br House, HAR Solutions - MITCHELTON</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_3">$605,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_4">
<td id="x_rpMostAffordable_tdMostAffordableCity_4" align="left">Canberra</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_4" colspan="2">142 Lawrence Wackett Cr, Theodore ACT 2905, 3 br House, IPG - Belconnen</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_4">$450,000</td>
</tr>
</tbody></table>
<p><span> </span></p>
</div>
</div>
</div>
</div>
<p><a href="https://www.realestate.com.au/property-terrace-nsw-darlinghurst-130954586"> </a></p>
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