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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This week 2,419 auctions were held across the combined capital cities, representing a substantial 26 percent rise in auction activity compared to the previous week when 1,920 capital city auctions were held.
This was the fourth highest number of weekly auctions held over the year to date. 
The rise in activity was coupled with a slight fall in preliminary combined capitals clearance rate, from 68.9 percent last week, to 68.0 percent this week. Much of the strength in the combined capitals clearance rate can be attributed to the two largest auction markets (Melbourne and Sydney), where clearance rates remained the strongest nationally.
One year ago, however, both Sydney and Melbourne recorded a clearance rate in excess of 80 percent, and the combined capital city clearance rate was 78.5 percent across 2,792 auctions.
<a href="/images/2016/05/30/20160530-Capital-city.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/30/20160530-Capital-city.png" alt="">
Melbourne was by far the busiest capital city auction market this week, with 1,157 auctions held, up from 843 last week and lower than one year ago (1,248). Preliminary results for the city show 70.8 per cent of auctions sold this week, compared to 70.0 per cent last week and 80.2 per cent one year ago. Across each individual sub-region of the city, performance was somewhat varied with clearance rates ranging from as high as 78.3 per cent in the Outer East across 77 auctions and as low as 65.1 per cent in the South East across 121 auctions.
<a href="/images/2016/05/30/20160530-Melbourne.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/30/20160530-Melbourne.png" alt="">
Across Sydney, a 75.0 percent clearance rate was recorded this week, based on preliminary results. There were 773 auctions held across the city, with 615 results reported so far. In comparison, last week’s clearance rate was 73.2 per cent, lower than this week, while one year ago, 85 percent of the 1,149 auctions held across the Harbour city were successful over the week. While Sydney’s clearance rate isn’t tracking at the same strong levels seen last year, the city has maintained a relatively strong clearance rate since mid-February this year.
This week, in fact, there were two sub regions that recorded a clearance rate above 80 per cent; Eastern Suburbs at 91.9 percent across 116 auctions and North Sydney and Hornsby at 83.3 percent across 114 auctions.
<a href="/images/2016/05/30/20160530-Sydney.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/30/20160530-Sydney.png" alt="">
Brisbane had 190 auctions this week, up from 131 last week, but lower than the 213 one year ago. Preliminary results show a clearance rate of 40.2 percent across the city, compared to 50.9 percent last week and 48.0 percent at the same time last year. Across the Gold Coast 82 auctions were held this week, with 41 results reported so far. The preliminary clearance rate for the region was 41.5 percent.
<a href="/images/2016/05/30/20160530-Brisbane.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/30/20160530-Brisbane.png" alt="">
The preliminary clearance rate for Adelaide was 52.6 percent this week with 122 auctions held, down from 68.8 percent last week across 92 auctions. At the same time last year, there was less auction activity (92) and a higher success rate (67.4 percent).
<a href="/images/2016/05/30/20160530-Adelaide.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/30/20160530-Adelaide.png" alt="">
A total of 20 Perth auction results have been reported so far this week, with 10 sold. The preliminary clearance rate of 50.0 percent shows a week-on-week rise, compared to 42.9 percent last week across 35 results. Over the same week last year, just 21 Perth auctions were held and of the 17 reported results, 41.2 percent cleared.
There were 107 Canberra auctions this week, the busiest week since the week ending 20 March this year when 119 auctions were held. This week represents the third week this year where over 100 auctions have been held in Canberra. Preliminary results show 64.4 percent of Canberra auctions were successful, down from 67.2 percent last week and 68.3 percent one year ago.
So far this week, 6 Tasmanian auctions have been reported with a total of 4 sales 
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smiller-vwPjRHTkST

Number of auctions surges to the fourth highest week this year: CoreLogic RP Data's Shana Miller

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Preliminary auctions results in Melbourne for the week ending May 22 show a clearance rate of 70.7 percent, down from 71.3 percent last week.
Melbourne’s Inner sub-region held a 72.2 percent clearance rate, with the Outer East region at 80 percent across 50 results from 57 auctions.
<a href="/images/2016/05/23/Screen%20Shot%202016-05-23%20at%2012.31.06%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/23/Screen%20Shot%202016-05-23%20at%2012.31.06%20PM.png" alt="">
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Melbourne's outer east holds 80 percent clearance rate: CoreLogic RP Data

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Given the ANZAC day long weekend, auction volumes are expected to dip this week, with 1,372 scheduled, down from almost 1,700 last week.
The amount of auction activity in Melbourne and Sydney this week is virtually the same, with 535 Sydney auctions scheduled and 546 in Melbourne.
On a week-on-week basis, auction activity will be quieter in all cities with the exclusion of Sydney, where volumes are 12 per cent higher and Canberra, where the number of auctions scheduled to take place this week is 6 per cent higher than the previous week.
Capital City Auctions this week:
<ul>
<li>Sydney: 535</li>
<li>Melbourne: 546</li>
<li>Brisbane: 114</li>
<li>Adelaide: 92</li>
<li>Perth: 27</li>
<li>Canberra: 52</li>
</ul>
The two busiest individual suburbs for auctions this week are Mount Waverley (14) and Craigieburn (12), both located in Melbourne. The third busiest suburb, Reservoir, also in Melbourne, was last week’s busiest suburb with 18 auctions, while this week just 11 will be held.
Summary of last week’s results:
<a href="/images/2016/04/21/20160421-cc-table.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/21/20160421-cc-table.png" alt="">
The capital city clearance rate remained stable last week, at 67.4 per cent, up just slightly from 67.1 per cent the previous week. The week-on-week results were also relatively flat across each of the individual capital cities, with only Canberra (up to 68.9 per cent from 61.9 per cent the previous week) and Perth (down to 23.1 per cent from 33.3 per cent the previous week), where clearance rates often move around substantially, seeing any significant changes.
<a href="/images/2016/04/21/20160421-cc-graph.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/21/20160421-cc-graph.png" alt="">
Last week, Melbourne was the strongest performing capital city auction market, with 71.5 per cent of auctions clearing, followed by Sydney, where 69.8 per cent of auctions were successful. Across Melbourne’s Outer East the clearance rate was the strongest (82.1 per cent), and Sydney’s Eastern Suburbs (86.5 per cent) and Sutherland (86.4 per cent) were the stand out performers last week. In fact, so far this year, the Eastern Suburbs clearance rate has only dipped below 79 per cent once.
Outside of the capital cities, auction markets were somewhat lacklustre this week with vendors more likely to not sell at auction than to sell at auction.
<a href="/images/2016/04/21/20160421-sub-region-table.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/21/20160421-sub-region-table.png" alt="">
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Auction volumes expected to dip this week: CoreLogic RP Data's Shana Miller

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Brisbane held a preliminary clearance rate of 56.6 percent for the week ending April 10 according to CoreLogic RP Data. 
Across Brisbane 161 auctions held. The Gold Coast had 26 auctions  with 10 were selling.
<a href="/images/2016/04/11/20160411-Brisbane.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/11/20160411-Brisbane.png" alt="">
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Brisbane's clearance rate at 56.6 percent: CoreLogic RP Data

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Melbourne's school holidays saw the absence of the typical prestige offerings with the top sale being $2.75 million in Aberfeldie (above).
It sold two years ago in spring 2014 at $2.32 million, so reflected 11 percent price growth for the 2006-built Victorian-era style four bedroom home with study.
Melbourne was the busiest capital city auction market this week, after Sydney was the busiest for the past two weeks.
The 794 Melbourne auctions secured a clearance rate of 73 percent, according to CoreLogic RP Data.
Inner Melbourne, with 171 auctions and North East Melbourne with 110 auctions held were the busiest sub-regions of the city this week, with clearance rates of 72 percent and 76 percent, respectively.
South East and Inner East Melbourne were the only two regions where clearance rates fell below the 70 percent mark this week.
The preliminary auction clearance rate in Sydney stayed below 70 percent again this weekend at 67 percent, down from 69 percent last week.
All much lower than one year ago when it was a redhot 83 percent. 
Sydney’s sub-regions again showed a significant amount of variation in results across the city.
Clearances rates were as high as 87 percent in Inner West and as low as 41 percent in South West.
The cheapest Sydney offering was an over 55s villa in Cronulla.   Sydney auctioneer Rocky Bartolotto noted that not only were volumes down by 25 percent, but the average registered bidder numbers were just under 4 per property, compared to April 2015 which was averaging seven.   Brisbane’s preliminary clearance rate was 56 percent this week, up on the 52 percent last week and 54 percent one year ago.
Brisbane had the weekend's cheapest sale at $237,000 at <a href="https://www.realestate.com.au/property-house-qld-waterford+west-122100694%20%20" target="_blank">Waterford West</a> for a three bedroom home (below) which, according to CoreLogic RP Data, last sold at $235,000 in 2006.
<img src="/images/2016/04/11/main-3.jpg" alt="" width="667" height="500">
Adelaide’s clearance rate was 63.6 percent this week, with Perth auctions at 25 percent last week.
Across Canberra 69 auctions were held this week with a 64 percent sales success including the $1,515,000 sale of the former bolthole of the former Federal Treasurer Joe Hockey.
The three-bedroom property in the prestigious suburb of Forrest sold soon after being passed in on a $1.5 million vendor bid at its 25 Furneaux Street onsite auction.   The national 67 percent success rate, was up from the 66 percent last week, but remaining lower than one year ago 77 percent.
The March 2016 quarter combined capital city clearance rate was 69 percent, lower than the 75 percent in the March 2015 quarter. 
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jchancellor-FAypfDUnLy

Aberfeldie tops Melbourne weekend results

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Estate agents were back posting "sold" stickers on their best weekend auction offerings - from a $235,000 Elwood flat to a $5.18 million Mosman trophy home - following the break from sales over Easter. 
Melbourne's St Albans with 15 listings was the nation's busiest weekend auction suburb, ahead of Sydney's Epping with 13, then Reservoir in Melbourne, with 12 offerings.
Auction activity across all the capital cities bounced back after the Easter break, but the national clearance rate dipped to 67 percent from the 1500 offerings, down on the 70.9 prior weekly result, according to CoreLogic RP Data.
There were some 530 homes put to weekend Sydney auction - and a total of 650 homes over the past week - with an overall 70 percent clearance rate.
<a href="/images/2016/04/4/Screen%20Shot%202016-04-04%20at%208.57.11%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/4/Screen%20Shot%202016-04-04%20at%208.57.11%20AM.png" alt="">
Auction clearance rates ranged across Sydney from as high as 94 percent in the city and east to as low as 28 percent in Parramatta.
With 100 plus auctions, the North Sydney and Hornsby region was the busiest followed by the inner south west with 84 auctions.
The Sydney weekend's top under the hammer sale was a five bedroom home at 19 Lower Almora Street, Mosman. It was bought by a Singapore based expatriate. There where five registered parties, but just the two bidders after McGrath agent Anthony Zakos took the opening $4.8 million bid. There had been $4.8 million to $5 million price guidance.
Adelaide was the best performing capital with a 75 percent success rate, but like all capitals, excepting Brisbane, the clearance rate sat lower than one year ago when it was 83 percent. 
There were 567 Melbourne auctions this week, making it the second busiest after Sydney, with around 68 percent of offerings successfully finding buyers this week.
House prices in St Albans ranged from $416,000 to $845,000, for a 613 sqm apartment development site, subject to planning approval at 18 Collins Street. There was a $466,000 St Albans sale to a Sydney investor.
Melbourne's highest sale was $2.415 million at 5 Closeburn Avenue, Prahran, a four bedroom 1905 Edwardian brick home that sold through Kay &amp; Burton.
It had sold the same time last year at $2.155 million - so 12 percent annual price growth - when it was sold through the Marshall White agency who had given a $1.7 million price guidance.
The Prahran sale edged out a $2.25 million Altona sale for the top spot. The 123 Esplanade, Altona sale was a two storey home opposite the beach, two blocks from the pier.
The $235,000 Elwood flat at 6/6 Cyril Street had last sold in 2008 at $195,000 and $220,000 in 2001. It had been a $230 weekly rental when advertised earlier this year, reflecting a five percent rental yield. Woodards Real Estate had been quoting $195,000 to $210,000 for the 1970s one bedder.
There have been 11 suburbs with clearance rates above 90 per cent this year, including Collingwood, Dingley Village and Seddon, according to the Real Estate Institute of Victoria.
The strongest performing weekend Melbourne sub-region was the inner east with 74 percent success, with the regions showing no where near the broad success range witnessed in disparate Sydney's regions.
But both capitals bounced back in activity after the Easter break, though not as much in Melbourne with school holidays underway in Victoria.
School holidays always put a dampener on activity. Auction activity will be next interrupted by the Anzac Day long weekend, then the Queen’s Birthday holiday break in June, which will signal the beginning of the quieter winter auction market.
Generally, the first two weekends in July ranks as the mid-year low point of the national auction market, brought about by cooler weather and the school holidays which combine to create the mid-year market lull. 
Accordingly the prospect of a federal election in early July would be the least disruptive to the real estate industry, agents suggest.
Though agents expect the election to provide a bigger than normal distraction given that negative gearing policy will be one of the key election issues along with capital gains tax policy.
Agents expect some prospective vendors to bring forward their sales campaigns to May and June, but then closer to the election date the prospective sellers will postpone their sales campaigns until later in the year.
CoreLogic RP Data analysis of recent elections showed that there was around a 20 percent preceding drop in the volume of listings, while the clearance rate is usually unaffected. 
Historically when there is no change of government the housing market tends to respond better post-election than when there is a change.
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Auction activity bounces back post Easter

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Rising auction bidder numbers are underpinning the stronger clearance rates we've witnessed this year in most regions across Sydney. 
This emerging trend, if maintained, will soon lead to higher than expected price growth.
The average number of registered bidders sat at four at February auctions, according to the comprehensive data kept by auctioneer Damien Cooley at Cooley Auctions.
It was up on the three during December, but still below the five in February last year.
Sydney's 2016 weekend clearance rates have mostly sat above 70 percent, compared to the low 50s of late last year, and the 80 percent record levels this time last year.
The big test comes today with the traditional pre-Easter Super Saturday bumper auction offerings.
But what has been noticeable in recent weeks have been the anecdotal reports from auctions showing higher bidders numbers.
An original condition 1940s Curl Curl fibro cottage sold at $1.933 million with 11 registered bidders, young families versus owner builders.
After the strong $1.7 million opening bid for 40 Bennett Street, there were five active bidders for the property last sold for £3,500 in 1953.
It was downsizers who completed at Cremorne Point for a three-bedroom triplex garden apartment that fetched $4,065,000. The recent McGrath auction saw 10 parties raise their bidding cards after the $3.1 million opening bid. There had been a $3 million to $3.3 million auction price guide.
A strong auction result at 7 Doris Avenue, Earlwood came after 25 registered bidders turned up at its recent auction. Just four took part before it was knocked down at $1,340,000 to locals who plan to renovate. Auctioneers Rocky Bartolotto, from Auction Services, took a $950,000 opening bid on the three bedroom brick home sitting on a 417 sqm block size.
Not all regions are experiencing the same trend, according to CoreLogic RP Data, highlighting the right method of sale is a extremely important decision. 
Sydney’s strongest performing sub-regions currently stand at Ryde, with 86 percent selling, the Eastern Suburbs at 84 percent and the Inner West at 78.6 per cent. The three weakest regions have been Blacktown, Parramatta and the Hawkesbury for auctions.
But the momentum in some suburbs will catch some agents are giving ridicously low price guidance to buyers. Right at the time when NSW Fair Trading is holding a rigorous underquoting audit with inspectors currently looking at published advertisements and the estimated selling prices contained within agency agreements.  
More importantly they are also reviewing and considering the comparative sale price evidence utilised in developing their estimated selling price.
This means agents must be wise to all the recent sale prices in their patch. 
The early 2016 market rebound has meant underquoting has returned as an issue as in the first seven weeks since the laws were introduced, Fair Trading received 68 complaints. 
"Complaints are from named individuals, anonymous complainants and other real estate agents," a department spokesperson said.
This article was first published in the Saturday Daily Telegraph.
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Bidding numbers at auction suggest surprise price growth for some suburbs

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Over the week ending 26 February 2016, 66 commercial auctions were reported, rising sharply from 14 over the previous week signifying that the traditionally quiet period for commercial auctions has come to an end.
Last week, the clearance rate was 47.6 percent, compared to 50 percent the previous week. At the same time last year, 85 commercial auctions were reported with a success rate of 62.4 percent.
The most recent four week period shows a total of 88 auction results with 42 sales. Of these 42 sales, 31 have been reported with a sale price, totalling just over $95 million. 
<a href="/images/2016/03/9/2016_02_26_Auction_Graph.gif" target="_blank">Click to enlarge</a>
 <img src="/images/2016/03/9/2016_02_26_Auction_Graph.gif" alt="">
The table below indicates National Auction Clearance Rate figures.
<a href="/images/2016/03/9/2016_02_26_Auction_Table-580x200.gif" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/9/2016_02_26_Auction_Table-580x200.gif" alt="">
 
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Commercial auction quiet period officially ends: CoreLogic RP Data

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Sydney's preliminary clearance rate has fallen for the tenth consecutive week, according to CoreLogic RP Data, with this week's fall down to 55.6% making for the fifth week in a row under 60%.
1,051 auctions were held across Sydney for the week ending 6 December, with five regions posting a higher than 60% preliminary clearance rate - the Inner West (66.1%), Eastern Suburbs (65.2%, City and Inner South (64%) and Northern Beaches and North Sydney and Hornsby (both 62.5%).
<a href="/images/2015/12/7/Screen%20Shot%202015-12-07%20at%2012.34.06%20PM.png" target="_blank" style="line-height: 1.3em;">Click to enlarge</a>
<img src="/images/2015/12/7/Screen%20Shot%202015-12-07%20at%2012.34.06%20PM.png" alt="">
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Sydney's clearance rate falls for tenth consecutive week: CoreLogic RP Data

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The number of homes taken to auction remains high, with 3,087 auctions held this week, down from 3,274 over the previous week, however, the preliminary clearance rate of 60.8% has fallen, down from 62.3% last week, mainly due to the drop in Melbourne’s clearance rate, which is currently sitting below 65%. Over the corresponding week last year, the clearance rate was a stronger 65.7% and 3,315 auctions were held.
<a href="/images/2015/11/23/20151122-Capital-City.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/23/20151122-Capital-City.jpg" alt="" width="612" height="464">
 
Melbourne’s clearance rate remains under 70 per cent for the 5th week in a row, with this week’s preliminary clearance rate recorded at 64.7 per cent, down from 69.8 per cent last week, and weaker than the clearance rate for the city one year ago (66.1 per cent). This week, Melbourne was host to 1,477 auctions, lower than the 1,567 held last week, but higher than a year ago when there were 1,433 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 East region. So far, CoreLogic RP Data has collected 153 results for the region and the preliminary result shows 71.9 per cent of these auctions were successful.
<a href="/images/2015/11/23/20151122-Melbourne.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/23/20151122-Melbourne.jpg" alt="" width="670" height="450">
 
Across Sydney, the preliminary auction clearance rate was 59.3 per cent this week, the third week in a row where Sydney has recorded a result below 60 per cent. Last week, Sydney’s clearance rate was 58 per cent, the lowest clearance rate seen since the week ending 10 February 2013 (55 per cent); significantly lower than one year ago, where results show that 71.8 per cent of Sydney homes taken to auction were successful. In terms of the number of auctions across the city, this week volumes were lower, down to 1,080 from 1,223 last week. One year ago 1,337 Sydney homes were taken to auction. The Eastern suburbs sub-region of Sydney has shown the strongest performance so far this week, with 82.6 per cent of the 69 reported results selling, with 33 remaining results yet to be collected.
<a href="/images/2015/11/23/20151122-Sydney.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/23/20151122-Sydney.jpg" alt="" width="667" height="448">
 
The preliminary clearance rate in Brisbane this week was 43.6 per cent, up from 39.5 per cent over the previous week. Auction volumes were higher this week with 226 auctions held, up from 198 last week. Meanwhile, across the Gold Coast, 32 per cent of the 50 reported auctions were successful.
<a href="/images/2015/11/23/20151122-Brisbane.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/23/20151122-Brisbane.jpg" alt="" width="690" height="458">
 
Adelaide recorded a clearance rate of 66.7 per cent across 141 auctions this week, up from 52.4 per cent across 121 auctions last week. At the same time last year, 147 homes were taken to auction, with 61.2 per cent recording a successful result.
<a href="/images/2015/11/23/20151122-Adelaide1.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/23/20151122-Adelaide1.jpg" alt="" width="702" height="470">
 
There were 39 Perth auctions this week and so far 22 results have been reported, with just 36.4 per cent selling. Last week there was a 44.4 per cent clearance rate for Perth across 39 auctions and at the same time last year, 38.3 per cent of the 55 auctions held were successful.
Canberra’s clearance rate was 63.6 per cent this week across 111 auctions, compared to 63.2 per cent last week across 102 auctions.
Of the 5 Tasmanian auction results reported so far this week, 1 sale has been recorded.
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