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 Rates

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Units had a strong auction weekend with a 75% national success rate after the auction of 684 units.

The prior week's clearance rate sat at 77% after the auction of 578 units.

Sydney was the best of the major capital city markets for apartment auctions, according to CoreLogic.

Sydney vendors secured an 82% success rate from 319 listings. Houses in Sydney performed even better with 90% of the 729 houses finding buyers.

Melbourne was the busiest capital for unit offerings with CoreLogic putting the auction tally at 330. 

There was a 73% success rate, as against the 989 houses which recorded an 80% clearance rate.

[smartcode_project:default project_id=29912]

Some 75% of Perth's 21 apartment listings were sold.

Brisbane saw 38% of its 18 listings find buyers.

Sydney saw a Bondi Beach penthouse sell for $20.1 million at weekend auction, becoming the most expensive apartment ever sold at auction in Australia.

Melbourne's top apartment sale was $2.36 million for the four bedroom townhouse (above) at 2/17 Olinda Street, Caulfield South through Gary Peer &amp; Associates.

Melbourne had the nation's cheapest apartment sale which was secured before its scheduled auction when $255,000 was paid for a two-bedroom Harkness offering.

[smartcode_project:default project_id=29910]

The 2010-built ground floor unit in the Parkside Apartments complex at 1/9 Petrea Place was offered through Russell Parker at First National Melton.

It came with a $250,000 to $260,000 price guide having last sold at $215,000 in 2011. 

The 80sq m ground floor space first sold off the plan in 2009 at $215,000.

Its last advertised rental asking price, according to CoreLogic, was $240 in late 2019.
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Units had another strong auction weekend with a 75% national success rate after the auction of 684 units, up from the prior week's 578 units

jchancellor

75% of weekend apartment offerings find buyers

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A preliminary auction clearance rate of 71.3% was recorded across the combined capital cities this week, having increased from 69.9% last week, the lowest clearance rate since the end of March. 
Auction volumes were high, with a total of 2,820 auctions held over the week, up from 2,565 over the previous week. In comparison, at the same time last year, auction volumes were lower due to the AFL Grand Final in Melbourne; meaning only 1,369 auctions took place across the combined capital cities.
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<img src="/images/2015/09/28/20150928-capital-city.jpg" alt="" width="692" height="523">
The preliminary auction clearance rate across Melbourne was 73.3% this week, down from the previous week’s final result of 73.7%, making this week the fourth lowest clearance rate for the year. This week, Melbourne was host to 1,197 auctions, higher than the 1,127 held last week and significantly higher than a year ago when there were only 112 Melbourne auctions held over the week. Across Melbourne’s individual sub-regions, the strongest preliminary clearance rate this week was across the Outer East region at 81.8%, followed by the Inner South region where the preliminary clearance rate was 80%.
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<img src="/images/2015/09/28/20150928-Melbourne.jpg" alt="" width="674" height="448">
 
There were 1,193 Sydney homes taken to auction this week and a preliminary clearance rate of 74.2% across 974 results. Over the previous week, Sydney recorded the lowest final auction clearance rate for the year (70.7%) and 1,041 auctions were held across the city. At the same time last year, 76.9% of the 933 homes taken to auction recorded a successful result. This week, the strongest sub-region for clearance rates across Sydney was the Eastern Suburbs, with 89.8% of the reported results clearing at auction.
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<img src="/images/2015/09/28/20150928-Sydney.jpg" alt="" width="653" height="439">
 
Brisbane’s preliminary clearance rate was 58.9%this week, compared to 50% last week and 48.9%at the same time last year. Across Brisbane, a total of 199 auctions were held this week which is higher than both last week (143) and last year (179). Across the Gold Coast, 54.3% of the reported auctions have sold.
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<img src="/images/2015/09/28/20150928-Brisbane.jpg" alt="" width="794" height="532">
 
Adelaide hosted 127 auctions this week and across the 80 reported results, CoreLogic RP Data’s preliminary auction clearance rate is 68.8%. Last week, Adelaide’s clearance rate was 71.4% across the 99 auctions held, while at the same time last year 65.6% of the 73 homes taken to auction were sold.
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<img src="/images/2015/09/28/20150928-Adelaide.jpg" alt="" width="651" height="440">
 
For Perth, the number of homes taken to auction this week was 25, less than last week (31) and higher than last year (6). Meanwhile, Perth’s clearance rate of 36.4% this week was lower than last week (38.5%) and higher than last year (33.3%).
Across Canberra 58 homes were taken to auction this week and the preliminary clearance rate across 36 reported auctions was 50%.
There were 21 auctions across Tasmania this week, with 3 successful results out of the 18 reported.
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smiller-vwPjRHTkST

Preliminary clearance rate bouncing back above 70%: CoreLogic RP Data's Shana Miller

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So far this week, 1,494 capital city auction results have been reported to CoreLogic RP Data, resulting in a preliminary auction clearance rate of 75.7% across the combined capital cities. 
There were a total of 1,862 capital city auctions held this week. This week’s result indicates that clearance rates are still tracking higher than they were one year ago, when the final auction clearance rate over the week was 68.9 per cent across 1,473 auctions.
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<img src="/images/2015/08/03/20150803-Capital-City.jpg" alt="" width="787" height="588">
 
Across Melbourne, this week’s preliminary clearance rate was recorded at 78.6 per cent, up from a recent low of 75.7 per cent last week and remaining well above the clearance rate for the city one year ago (69.0 per cent). This week, Melbourne was host to 760 auctions, significantly lower than the 918 held last week, but higher than a year ago when there were 636 Melbourne auctions held over the week. Of the 9 individual Melbourne sub-regions, this week the strongest performer, in terms of clearance rates, was the Outer West. So far, CoreLogic RP Data has collected 48 results for the region and the preliminary results shows 93.8 per cent of these auctions were successful.
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Sydney’s preliminary auction clearance rate was 78.8 per cent this week, the fourth week in a row where Sydney has recorded a result below 80 per cent. Last week, Sydney’s clearance rate was 79.9 per cent, while one year ago results show that 76.7 per cent of Sydney homes taken to auction were successful, showing the gap between this year’s clearance rate and last year’s clearance rate is starting to close. In terms of the number of auctions across the city, this week volumes were lower, down to 816 from 906 last week. One year ago just 588 Sydney homes were taken to auction over the week. The Blacktown sub-region of Sydney has shown the strongest performance so far this week, with 94.4 per cent of the 18 reported results selling, with 2 remaining results yet to be collected.
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<img src="/images/2015/08/03/20150803-Sydney.jpg" alt="" width="759" height="518">
 
There were 140 Brisbane homes taken to auction this week, with 94 results reported so far. The preliminary clearance rate for the city is 60.6 per cent, up from 54.0 per cent last week and higher than one year ago, when just 36.7 per cent of the 96 properties taken to auction were successful. Across the Gold Coast 44 results have been reported so far, with a success rate of 47.7 per cent (21 sales).
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<img src="/images/2015/08/03/20150803-Brisbane.jpg" alt="" width="836" height="561">
This week, Adelaide saw a preliminary clearance rate of 71.9 per cent, with 57 reported results across a total of 75 scheduled auctions. In comparison, over the previous week Adelaide’s clearance rate was 58.9 per cent and 61.0 per cent one year ago.
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There were 23 Perth auctions this week, with a preliminary clearance rate of 43.8 per cent. Last week, Perth recorded its strongest auction clearance rate for July, at 52.6 per cent.
Across Canberra a total of 40 auctions were held this week, compared to 49 last week and 28 at the same time last year. Canberra’s preliminary clearance rate of 79.2 per cent is higher than it was the previous week (68.8 per cent).
Of the 6 Tasmanian auction results reported so far this week, 2 sales have been recorded.
 
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Sydney’s clearance rate below 80%: CoreLogic RP Data's Shana Miller

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The number of auctions across Australia’s capital cities slipped lower over the first week of Spring, with 2,272 auctions held (down from a recent high of 2,654 the previous week), however auction numbers remained well above the same week a year ago when there were 1,897 auctions held. 
 The preliminary clearance rate of 74.9 per cent was higher than the previous week’s result of 73.4 per cent and similar to last year, when the final result across the combined capital cities was 74.1 per cent.
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In Melbourne, a preliminary auction clearance rate of 76.2 per cent was recorded across 998 auctions this week. Last week, Melbourne’s final clearance rate was slightly higher at 76.7 per cent across 1,188 auctions. One year ago, there were 872 Melbourne auctions held with 76.7 per cent of the results reported as successful. Of the 9 individual Melbourne sub-regions, this week the strongest performer, in terms of clearance rate, was Melbourne’s Outer East. So far, CoreLogic RP Data has collected 80 results for the region and the preliminary result shows 91.3 per cent of these auctions were successful.
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<img src="/images/2015/09/07/20150907-Melbourne.jpg" alt="" width="799" height="536">
 
Across Sydney, this week’s preliminary clearance rate was recorded at 78 per cent, up from a recent low of 75.1 per cent last week, the lowest clearance rate the city has seen all year, and below the clearance rate for the city one year ago (80.1 per cent). This week, Sydney was host to almost as many auctions as Melbourne (995), but less than the 1,106 held last week, and higher than a year ago when there were only 705 Sydney auctions held over the week. North Sydney and Hornsby was the busiest sub-region of Sydney this week for auctions, with 154 homes taken under the hammer. Based on preliminary results, the region recorded a healthy 83.6 per cent clearance rate, with only two other sub-regions recording a higher result; Inner West (88.6 per cent) and Eastern Suburbs (84 per cent).
Click to enlarge
<img src="/images/2015/09/07/20150907-Sydney.jpg" alt="" width="739" height="494">
 
There were 129 Brisbane homes taken to auction this week, with 83 results reported so far. The preliminary clearance rate for the city is 50.6 per cent, down from 54.2 per cent last week and higher than one year ago, when 44.7 per cent of the 128 properties taken to auction were successful. Across the Gold Coast 25 results have been reported so far, with a success rate of 64 per cent (16 sales).
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<img src="/images/2015/09/07/20150907-Brisbane.jpg" alt="" width="724" height="485">
 
This week, Adelaide saw a preliminary clearance rate of 74 per cent, with 50 reported results across a total of 66 scheduled auctions. In comparison, over the previous week Adelaide’s clearance rate was 58.1 per cent and 68.8 per cent one year ago.
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<img src="/images/2015/09/07/20150907-Adelaide.jpg" alt="" width="721" height="489">
 
In Perth, auction volumes fell to 26 this week, from 34 last week. So far, only 7 auctions have been reported to CoreLogic RP Data, with 5 of these reported as successful. Last week, the final auction clearance rate for Perth was 45.2 per cent across the 34 auctions.
Across Canberra a total of 51 auctions were held this week, compared to 47 last week and 69 at the same time last year. Canberra’s preliminary clearance rate of 65.4 per cent is lower than it was the previous week (69.8 per cent).
Tasmania had 7 auctions take place this week, 2 results have been reported so far, with no sales.
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Auction clearance rates move higher on lower volumes: CoreLogic RP Data's Shana Miller

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Last week, 3,226 properties were taken to auction which was the highest number of auctions this spring and up from 2,947 auctions the previous week.
Although auction volumes rose, so too did the preliminary auction clearance rate which was recorded at 63.8%, up from 61.4% over the previous week.  
The higher auction clearance rate was largely due to a large volume of auctions in Melbourne over the week and a slightly higher auction clearance rate as well as a moderate lift in clearance rates in Sydney.  At the same time last year, there were a higher number of auctions over the week (3,360) as well as a higher auction clearance rate (68.5%).
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<img src="/images/2015/12/cap-cities.jpg" alt="">
 
Melbourne auction volumes rose sharply over the week with 1,548 properties auctioned last week up from 1,204 over the previous week. So far, we have captured results for 1,362 of these auctions.  The preliminary auction clearance rate was slightly higher last week (69.5%) compared to the previous week (69.0%) however, it was the fourth successive week that the Melbourne market recorded clearance rates below 70%.  Over the same week in 2014, Melbourne had a lower auction clearance rate of 68.9% across a lower 1,504 auctions.  Across the individual regions of the city; Inner (70.1%), Inner South (70.7%), Outer East (70.9%) and West (75.2%) were the only regions to record clearance rates above 70%.  The Mornington Peninsula with a clearance rate of 64.8% had the lowest clearance rate across the city.
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<img src="/images/2015/11/16/melbourne.jpg" alt="">
 
The preliminary auction clearance rate for Sydney was recorded at 61.0% last week across 1,200 auctions, of which we currently have results for 880 auctions.  The preliminary clearance rate has rebounded from a final clearance rate of 58.4% the previous week from a slightly higher 1,248 auctions.  Sydney auction clearance rates are now below 70% for seven consecutive weeks.  Over the same week a year ago, Sydney had a much higher auction clearance rate of 73.1% across a higher 1,417 auctions.  The only regions of the city to record a clearance rate above 70% were: City and Inner South (73.3%), Eastern Suburbs (76.6%) and North Sydney and Hornsby (71.1%).  At the same time, Central Coast (34.8%) and South West (34.2%) each had clearance rates below 40% over the week.
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<img src="/images/2015/11/16/Sydney.jpg" alt="">
 
There were 198 Brisbane properties taken to auction last week, of which we have results for 122 auctions. The preliminary data indicates that 45.9% of these auctions were successful.  Over the previous week, both the number of auctions (168) and the clearance rate (37.7%) was lower.  At the same time last year there were fewer properties taken to auction (142) however, the clearance rate was at a similar level (45.8%).  Gold Coast had a preliminary auction clearance rate of 48.0% with results capturing for 50 of the 80 total auctions.
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<img src="/images/2015/11/16/brisbane.jpg" alt="">
 
Adelaide recorded a preliminary auction clearance rate of 49.4% last week which was lower than the 58.1% clearance rate over the previous week.  The clearance rate was calculated from 81 results across 119 total auctions which is lower than the 146 total auctions for the previous week.  At the same time last year there were 152 auctions with a clearance rate of 55.4%.
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<img src="/images/2015/11/16/adelaide.jpg" alt="">
 
In Perth there were 38 auctions last week with 18 results so far.  The preliminary clearance rate was recorded at 50.0%, up from 16.2% the previous week.  The preliminary clearance rate is slightly higher than the 45.5% at the same time last year across 57 auctions.
Canberra’s preliminary auction clearance rate last week was 66.1% which was down from 76.6% over the previous week. The city had 100 auctions this week with 62 results so far which is a lower number of total auctions compared to the 122 the previous week.
Of the 10 Tasmanian auction results reported so far this week, 6 sales have been recorded.
 
Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/author/cameron-kusher/" target="_blank">here</a>.
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Combined capital city auction clearance rates rise: Cameron Kusher

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If some people think a declining clearance rate is a solid key performance indicator for our real estate markets they are badly mistaken as research identifies that the markets remain 60 per cent private treaty and 40% public auction.
Clearance rates are in my opinion more a mood indicator as to consumer confidence levels and not much more, although some commentators would have you believing they are the be all and end all.
If we are to better understand the intricate machinations of what is happening in our demographic markets I would like to see the property portals thinking in greater detail. For example, when a property appears on the market there should be two colour codes one for owner occupier sales and the other for investor sales. These are two entirely different market demographics although they today are bundled together despite being two totally different markets.
As I mentioned last week there will be a number of markets to watch in 2016 plus of course tax reform which is now looking much more likely with the changing of prime minister and new ministers running new portfolios. That too means new dialogue where it was quite interesting to listen to Treasurer Scott Morrison who said “the deficit reflects a spending problem, not a revenue problem”. The previous Treasurer Joe Hockey kept telling us Australia has a revenue problem not a spending problem.
You can rule out any changes to negative gearing by Messrs. Turnbull and Morrison whom will be watching what happens with the investor market, especially should the off – the – plan market have a run of defaults which is highly likely. Already the banks are starting to aggressively pull back lending for new construction projects in Sydney and Melbourne as they see some difficult times ahead with sales completions for overseas investors.
This week the Baird Government announced that 35,000 new homes would be made available in Western Sydney which would be expected to sell very quickly to owner occupiers so these developments won’t have any trouble attaining finance from the banks as this is an entirely different market demographic. Sydney urgently needs to address the owner occupier markets and housing affordability although for those watching these markets it’s getting more difficult to understand.
The Australian Bureau of Statistics (ABS) announced this week that Sydney house prices have jumped by 21.5 per cent over the past year. The Sydney House Price Index (HPI) rose 9.8 per cent over the June quarter which just so happens to be the largest single increase since the ABS commenced the series back in 2002. Just imagine the clarity if the ABS could differentiate these increases between owner occupiers and investors when we know that the investors were the ones really driving these gains.
This is further explained by why the banks are cutting back lending on the new residential markets as many believe a large percentage of the foreign buyers who jumped all over the new releases in Sydney and Melbourne are having a change of heart. Such observations then allow intelligent commentaries where investment bank Morgan Stanley declared this week that the housing boom had peaked. What we are seeing at the moment is much tighter lending rules, a very strong likelihood that Sydney now has an oversupply of new apartments and migration rates are slowing.
When this happens we can expect to see the apartment sales slowing considerably and prices starting to significantly ease which is long overdue. The difference that must be noted is this time around prices may ease naturally as against crashing where today we need to remember we are looking at an entirely different market specific.
If the overseas investors withdraw from the new developments then the prices only in those individual developments would be affected. Although we then find ourselves back at mood indicators where consumer confidence would decline significantly which then flows onto property prices.
Having said that the overseas investors have been clearly the most dominant with the off – the – plan sales so there are still a very large number of local investors waiting to absorb whatever re – sales come onto the market. What we don’t know is how sympathetic they will be to the developers pricing where the previous sale price won’t be that relevant. The developers have already pocketed the 10 per cent deposit although depending on the number of defaults the new pricing could be down by 20 per cent plus given the hype is not there anymore.
There are two topics that will be intriguing in 2016 – coincidentally they both start with the letter “p”;  property and of course politics.
<h5>MOSMAN – 2088</h5>
• Number of houses on the market this time last year – 60
• Number of houses on the market last week – 52
• Number of houses on the market this week – 51
• Number of apartments on the market this time last year – 41
• Number of apartments on the market last week – 51
• Number of apartments on the market this week – 52
<h5>CREMORNE – 2090</h5>
• Number of houses on the market this time last year –9
• Number of houses on the market last week – 7
• Number of houses on the market this week – 5
• Number of apartments on the market this time last year – 18
• Number of apartments on the market last week – 22
• Number of apartments on the market this week – 21
<h5>NEUTRAL BAY – 2089</h5>
• Number of houses on the market this time last year – 6
• Number of houses on the market last week – 3
•Number of houses on the market this week – 7
• Number of apartments on the market this time last year– 35
• Number of apartments on the market last week – 29
• Number of apartments on the market this week – 28
 
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985.  He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000. 
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Property markets brace for hysteria and usual faux pas: Robert Simeon

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Given it was such a quiet week for auctions last week, it was unsurprising to see volumes increase substantially this week, with 2,903 held across the combined capital cities.
 The preliminary clearance rate was 72.0% this week across a total of 2,178 reported auction results, up from a final clearance rate of 68.2% last week across just 865 auctions. At the same time last year, 67.8% of auctions cleared and a total of 2,408 capital city auctions were held.
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Melbourne was the strongest performer this week, with 74.1% of reported auctions recording a successful result. There were 1,358 Melbourne auctions scheduled, with 1,169 results reported so far. Last week, Melbourne’s final auction clearance rate was 73.1%, while one year ago it was 70%. The busiest sub-region across Melbourne for auctions this week was the Inner region, with 259 held. So far 228 results have been reported with a preliminary clearance of 75.8%. In terms of clearance rate, the top performer this week was the South East at 79.1% (148 auction results).
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Sydney hosted 1,141 auctions this week and preliminary results show that 72.8% cleared. Last week, Sydney’s clearance rate just dipped below the 70% mark, at 69.9% when auction volumes were lower (583). Relative to last year, this week’s result is stronger, given last year 918 auctions were held and the clearance rate was 71.9%. This week, 3 Sydney regions were significantly stronger than others, with Northern Beaches (88%), Eastern Suburbs (85.5%), and City and Inner South (81.9%) the top performers. On the other end of the scale, Central Coast’s clearance rate was 41.7%.
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<img src="/images/2015/10/12/20151012-Sydney.jpg" alt="" width="823" height="555">
 
Across Brisbane 178 auctions were held this week, up from 113 last week and 167 one year ago. Preliminary results show that Brisbane’s clearance rate increased slightly, from 59.1% last week to 59.4 per cent this week. In comparison to last year, current activity is stronger (48.8%). Further south, 71 of the 100 Gold Coast auction results have been reported and the clearance rate so far is 50.7%.
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<img src="/images/2015/10/12/20151012-Brisbane.jpg" alt="" width="787" height="522">
 
In Adelaide auction activity also picked up this week, 124 auctions were held compared to just 33 over the previous week. Adelaide’s preliminary clearance rate of 74.0% is higher than last week (67.7%) and also higher than it was over the same week last year (55.8%).
<a href="/images/2015/10/12/20151012-Adelaide.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/12/20151012-Adelaide.jpg" alt="" width="814" height="554">
 
There were 31 Perth auctions this week, compared to 10 last week and 25 one year ago. Perth’s preliminary clearance rate is 41.2%, compared to 44.4% last week and 52.6% one year ago.
Canberra’s clearance rate was 63.6 per cent this week across 64 auctions. Last week the city saw 63.2% of auction sell, while one year ago the clearance rate was significantly lower at 52.6%.
2 Tasmanian auctions have been reported to CoreLogic RP Data this week and preliminary results show only 1 sold.
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Capital cities return strong clearance rate: CoreLogic RP Data's Shana Miller

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Another solid preliminary auction clearance rate of 79.5 percent for Sydney this weekend.
There were some big numbers posted in the eastern suburbs, and Bondi and Paddington in particular.
Around the traps the suburbs of Mosman and Strathfield accounted for most of the big ticket sales. 
The median auction price was $1,221,500. 
This was some way down from the record preliminary result of $1,337,000 seen a fortnight ago, but then this was expected given that there were more than 750 homes going under the hammer this weekend.
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<div id="post-body-6237524374760409440" class="post-body entry-content">
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 <div>The median auction price is a crude and volatile measure at the best of times.</div>
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<div>However, smoothing the figures on a monthly basis reveals a more consistent picture, with prices tracking fairly consistently at about 10 to 12 per cent higher than a year ago. </div>
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<div>Next weekend will provide a stuff test for the Sydney market as the spring auction Super Saturday arrives before silly season and the big wind down to Christmas.</div>
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<div>And that will soon be another year gone! Hectic.</div>
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<div class="post-footer-line post-footer-line-1">
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
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pwargent-M4siyDbqQY

Sydney auctions solid ahead of Super Saturday

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The number of auctions held this week saw a significant decrease, with 1,265 properties taken to market across the combined capital cities, down from 2,578 over the week prior. 
The decrease in auction activity this week is attributable to the Queen’s Birthday public holiday this Monday, which has affected activity across most states, including Australia’s two largest auction markets. 
The lower volume is consistent with what is historically seen over this period, with 1,100 auctions reported over the same week last year. Last week saw the final auction clearance rate revise lower to reach 69.8 percent; an equal second lowest clearance rate for the year so far.  
The final clearance rate last week was the lowest over 2017 to date in Sydney and Melbourne.  
This week the preliminary auction clearance rate increased slightly to 71.8 percent, however it is typical to see clearance rates revise lower as final results are collected.
Click to enlarge
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/13/20170612-Cap-city.jpg" alt="">
Across Melbourne, this week’s preliminary clearance rate was recorded at 77.1 per cent, up from 73.1 per cent last week and remaining well above the clearance rate for the city one year ago (64.5 per cent). This week, Melbourne was host to 392 auctions, lower than the 1,188 held last week, but higher than a year ago when there were 341 Melbourne auctions held over the week. Of the 9 individual Melbourne sub-regions, this week the strongest performer, in terms of clearance rate was the North West. So far, CoreLogic has collected 29 results for the region and the preliminary result shows 89.7 per cent of these auctions were successful.
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Sydney’s preliminary clearance rate this week was 71.3 percent across 457 auction results. There were a total of 610 auctions held across the city. Looking back at this weekend last year, 463 auctions were held across Sydney and a clearance rate of 74.1 percent was recorded. 
Sydney’s North Sydney and Hornsby hosted the most auctions of any Sydney sub-region this week, with 100 properties taken to auction. The preliminary clearance rate for the region is 75.8 percent across 66 results.
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There were 112 Brisbane auctions this week with a preliminary clearance rate of 64.8 percent, having increased from 42.5 percent last week across 151 auctions and higher than one year ago when there were 142 auctions with a success rate of 46.3 percent. The Gold Coast’s preliminary clearance rate was 51.6 percent across 31 results this week.
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This week, Adelaide saw a preliminary clearance rate of 73.9 percent, with 46 reported results across a total of 66 scheduled auctions. In comparison, over the previous week Adelaide’s clearance rate was 59.3 percent and 75.4 percent one year ago.
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There were 42 Perth auctions this week and so far 12 results have been reported, with just 50.0 percent selling. Last week there was a 47.6 percent clearance rate for Perth.
Canberra’s preliminary auction clearance rate of 66.7 percent this week is lower than last week, when the final auction clearance rate was 68.6 percent and lower than the 73.9 percent recorded last year.
Tasmania saw 4 auctions take place this week, 3 results have been reported so far, with 2 sales.
Cameron Kusher is head of research for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
 
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Preliminary auction clearance rate holds above 70 percent on lowest volumes since Easter

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Auction clearance rates fell for the third consecutive week across the combined capital cities, down to 61.0% last week across a total of 2,288 reported auction results.
The number of auctions due to be held across the capital cities this week rose to 3,068 from 2,547 last week when there were just 629 auctions held across Melbourne as the city prepared for Melbourne Cup.
This week, 1,262 auctions are scheduled for Melbourne and 1,297 across Sydney, accounting for over 80% of all capital city auctions. These figures also demonstrate just how much of an impact these two auction markets results can have on the weighted average clearance rate. Last week, Sydney’s final clearance rate fell to 60.2%, heightening the reality that the clearance rate could likely slip into the 50’s over the coming weeks to wrap up an otherwise strong year for the city.
Brisbane, Canberra, Sydney, and Perth are all expecting fewer auctions than last week, while in Melbourne and Adelaide, the number of auctions this week relative to last week is higher.
Compared to last year when there were 2,942 auctions held across the combined capitals, auction activity will be busier in Adelaide, Melbourne and Sydney this year, while volumes are expected to be slightly lower in Brisbane, Canberra and Perth as per below
Sydney: 1,297 this year, 1,261 last year Melbourne: 1,262 this year, 1,139 last year Adelaide: 151 this year, 131 last year Canberra: 127 this year, 141 last year Brisbane: 173 this year, 188 last year Perth: 45 this year, 65 last year
In terms of clearance rates, last week the best performing capital city auction market was Canberra, where 71.0% of the reported auctions were successful. Following this was Melbourne, where the final auction clearance rate for the week came in at 65.6%.
This week, the busiest individual suburbs for auctions nationally are Mount Waverley (Vic) with 23, Glen Waverley (Vic) with 18 and Mosman (NSW) with 17.
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