The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Clearance Rates

<html><body>
Sydney held a preliminary auction clearance rate at 75.1% for the week ending September 13, according to CoreLogic RP Data's Property Market Indicator Summary, which found it the tenth week in a row with a rate below 80%.
The inner south west region had a preliminary clearance rate of 68.6% from 142 total auctions. and the northern beaches 84.4% from 63 auctions. 
<a href="/images/2015/09/14/Screen%20Shot%202015-09-14%20at%2011.50.07%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/14/Screen%20Shot%202015-09-14%20at%2011.50.07%20AM.png" alt="">
</body></html>

mick.cee-iDmgDDAmu8

Sydney's preliminary auction clearance rate at 75.1%: CoreLogic RP Data

<html><body>
Melbourne's outer east region holds a preliminary clearance rate of 91.3% from a total of 89 auctions, according to the CoreLogic RP Data property market indicator summary for the week ending 6 September.
The inner south holds a preliminary clearance rate of 80.3% from a total of 172 auctions.
<a href="/images/2015/09/07/Screen%20Shot%202015-09-07%20at%2012.59.32%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/07/Screen%20Shot%202015-09-07%20at%2012.59.32%20PM.png" alt="">
<a href="/images/2015/09/07/Screen%20Shot%202015-09-07%20at%2012.59.24%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/07/Screen%20Shot%202015-09-07%20at%2012.59.24%20PM.png" alt="">
</body></html>

Melbourne's outer east holds 91.3% preliminary clearance rate: CoreLogic RP Data

<html><body>
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.
<a href="/images/2015/09/07/20150907-Capital-city.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/07/20150907-Capital-city.jpg" alt="" width="716" height="538">
 
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.
<a href="/images/2015/09/07/20150907-Melbourne.jpg" target="_blank">Click to enlarge</a>
<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).
<a href="/images/2015/09/07/20150907-Brisbane.jpg" target="_blank">Click to enlarge</a>
<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.
<a href="/images/2015/09/07/20150907-Adelaide.jpg" target="_blank">Click to enlarge</a>
<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.
</body></html>

smiller-vwPjRHTkST

Auction clearance rates move higher on lower volumes: CoreLogic RP Data's Shana Miller

<html><body>
Reporting all residential property transactions within 24 hours of contracts being exchanged to a central body is just one recommendation Curtis Associates has made in their submission to the inquiry into Home Ownership.
Curtis Associates believes exchanging contacts of buyer and seller, agreed price, improvements made to the property and its cost would help create a fairer housing market in Sydney.
Curtis Associates said that there is an obsession with the drama of auctions and their clearance rates as well a, an obsession with median prices as a measure of market performance. 
"Agents are presently free to choose what data to report, when to report it and more important, what data not to report - especially if it conveys a downbeat impression of the property market.  
"Prices paid at auction are usually higher than those negotiated in a cooler private treaty environment; the latter of which account for about 75% of all transactions per week.  
"The auction results published by APM each Saturday night/Sunday morning exclude mid week auctions and thus account for less than that 25% of all such transactions."  
"It is submitted that comparing movements in raw median prices is like comparing apples with oranges. 
"Acceptance of the practice of keeping some sales prices confidential; the most absurd illustration of which being sellers who assert confidentiality over a price paid at a public auction. 
"For someone attending such an auction, that price is not only freely available, it is often a source of entertainment culminating in applause. For someone later researching the same price remotely, the result is a silent 'Price Withheld'." 
"In the equities market, such discriminatory withholding of information would almost certainly be unlawful." 
</body></html>

jchancellor-FAypfDUnLy

Reporting property transactions to a central body necessary: Curtis Associates

<html><body>
Auction clearance rates have been easing since April 2015, according to the August CoreLogic RP Data Housing Market and Economic Update.
<div class="page" title="Page 8">
<div class="layoutArea">
<div class="column">
While clearance rates are still high, a steady decline has begun.
 
<a href="/images/2015/08/13/Screen%20Shot%202015-08-13%20at%202.02.01%20PM.png" target="_blank" style="line-height: 1.3em;">Click to enlarge</a>
</div>
</div>
</div>
<img src="/images/2015/08/13/Screen%20Shot%202015-08-13%20at%202.02.01%20PM.png" alt="">
</body></html>

po-LsXgBTHBmX

Auction clearance rates have been easing since April: CoreLogic RP Data

<html><body>
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.
<a href="/images/2015/08/03/20150803-Capital-City.jpg" target="_blank">Click to enlarge</a>
<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.
<a href="/images/2015/08/03/20150803-Melbourne.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/03/20150803-Melbourne.jpg" alt="" width="728" height="491">
 
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.
<a href="/images/2015/08/03/20150803-Sydney.jpg" target="_blank">Click to enlarge</a>
<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).
<a href="/images/2015/08/03/20150803-Brisbane.jpg" target="_blank">Click to enlarge</a>
<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.
<a href="/images/2015/08/03/20150803-Adelaide.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/03/20150803-Adelaide.jpg" alt="" width="823" height="564">
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.
 
</body></html>

Sydney’s clearance rate below 80%: CoreLogic RP Data's Shana Miller

<html><body>
<div>GUEST OBSERVATION</div>
<div> </div>
<div>Over the last three weeks. And in the last week in particular, there have been some key announcements that will likely have a meaningful impact upon the housing market. The screws have been further tightened and this time we think they will have an impact. To recap the major changes include:</div>
<ul>
<li>A requirement for banks to hold 2% more capital (compared to risk weighted assets).</li>
<li>A requirement for banks to lift risk weights on home loans, meaning the banks will not be able to leverage as much from their home loan assets as they were before.</li>
</ul>
<div>Banks have responded by:</div>
<ul>
<li>Announcing capital raises</li>
<li>Lifting interest rates on investment property loans</li>
<li>Reducing loan to value ratios on investment property loans and locations considered higher risk</li>
<li>Increasing the servicing requirements (e.g A loan service test on a higher theoretical interest rate).</li>
<li>Not allowing tax benefits from negative gearing to be used as income.</li>
</ul>
<div>Clearly the changes will knock out most of the weaker borrowers, which is what the changes are designed to do, besides strengthen the balance sheets of the banks. But will it move existing property investors to the exits? The cumulative effect of these changes will now most likely dampen demand from property investors. The announcement last week of interest rate increases was probably the final nail. Indeed trusted sources on the ground including agents and mortgage brokers in Sydney are informing me of would-buyers now holding back. We also note the recent decline in Sydney auction clearance rates to just back below 80%. Nevertheless clearance rates in the mid to high 70's is still suggestive of strong market. It should also be noted that SQM expects total residential property listings have surged in July, though the final result will not be known until early August. As we know the recovery in the housing market, particularly for Sydney has been investor driven. It’s a good time to re-publish the following chart which does clearly illustrate how investor have dominated this recovery. </div>
<div> </div>
<div><a href="/images/2015/07/28/HousingFinanceCommitmentsJuly2015.png" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/07/28/HousingFinanceCommitmentsJuly2015.png" alt=""></div>
<div> </div>
<div>
The problem is, property investors can be a fickle bunch. A number of them are momentum driven. Buy when the market is moving higher and sell when the market is heading lower. Forget about the fundamentals and the emotional attachment. It is the capital gain and preservation of that gain that counts. Contrast this with first home buyers and owner occupiers who tend to not care (as much) for the market ups and downs. They tend to be longer term holders. They tend to sell and buy on an upgrade/downgrade or when servicing improves/deteriorates.This makes for a market they may well be more volatile than previous cycles. Even so, is there enough here to create a full blown crash? No way. We would still need to see a lot more action from the banking sector than these initiatives before that happens. I believe rates would need to go up by at least 1.5% and at a time when there is some type of massive supply overhang on new stock. Neither seems likely at this point in time. Needless to say the probabilities have now rapidly increased of a housing market slowdown which could be commencing now. 
</div>
<div> </div>
<div>Louis Christopher is property analyst for SQM Research. He can be contacted <a href="https://www.sqmresearch.com.au" target="_blank">here</a>.</div>
</body></html>

louischristopher-TWpYcZDLBK

The slowdown we're going to have: Louis Christopher

<html><body>
The combined capital city weighted clearance rate for the past week sat at 78.2% close to its 78.6% rate last week, Corelogic RP Data figures show for the week to May 10.
 
<img src="/images/2015/05/08/CoreLogic1.png" alt="" width="607" height="264">
Thirteen of the 15 weeks of auctions this year have cleared above 74%.
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
The number of homes taken to auction last week fell slightly to 2,385, compared with 2,540 over the previous week. 
The overall strength across the combined capital city market is showing no sign of slowing down, with 13 of the 15 weeks in which auction results have been reported on so far this year seeing the clearance rate at, or above, 74%. 
Over the corresponding week last year, the clearance rate was 65% and 1,535 auctions were held. 
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
<img src="/images/2015/05/08/corelogicmelb.png" alt="" width="566" height="306">
 
In Melbourne, 77.5% of the 938 reported auctions sold in the week to May 10.
There were 1,064 auctions held across the city, down from 1,139 last week when the final auction clearance rate was 81.7% and higher than the 710 auctions held one year ago, with a notably lower clearance rate (61.9%). The inner region of Melbourne had the highest number of auctions this week (231), with a clearance rate of 71.1%. Meanwhile, the strongest clearance rate was recorded across the South East and Outer East region, where preliminary results show 9 in every 10 homes taken to auction sold.
<img src="/images/2015/05/08/sydney.png" alt="" width="550" height="275">
Across Sydney, 924 homes were taken to auction last week with a preliminary clearance rate of 88.7% across 726 reported results. The latest results show that Sydney’s record strong conditions are continuing. In the prior week, the final clearance rate for the city was 87.3%, which prior to being overtaken this week, had been the cities second strongest result on record across 914 auctions.
One year ago, 618 Sydney homes were taken to auction with a clearance rate of 73.3%. Last week, the performance across Sydney’s individual sub regions was varied. Across the Central Coast, where 21 results have been reported so far, the clearance rate was 51.1%, while across Blacktown (96.0%), Ryde (93.6%) and North Sydney and Hornsby (92.9%) the success rate of auctions was much higher.
<img src="/images/2015/05/08/brisbane.png" alt="" width="508" height="260">
There were 176 Brisbane auctions last week with a preliminary clearance rate of 55.5%, having increased from 47.3% in the prior week across 192 auctions and higher than one year ago when there were 89 auctions with a success rate of 46.7%. The Gold Coast’s preliminary clearance rate was 41.8% across 55 results this week.
<img src="/images/2015/05/08/adelaide.png" alt="" width="509" height="257">
A total of 92 Adelaide homes were auctioned last week and the preliminary auction clearance rate of 63.9% is just higher than the 62.8% from the previous week across 167 auctions. One year ago, although Adelaide’s clearance rate was comparable at 62.3%, there were far fewer auctions (57). 
In Perth, 42 auctions took place last week, with 19 results reported so far. Perth’s preliminary clearance rate of 26.3% across these 19 results is similar to both last week’s result (29.4%) and the clearance rate from one year ago (25.0%). 
Canberra’s preliminary auction clearance rate of 63.0% last week is lower than last week, when the final auction clearance rate was 83.0 per cent and higher than the 57.1% recorded last year. So far this year, Canberra’s auction clearance rate has been substantially stronger when compared to previous years. 
Tasmania saw 11 auctions take place last week, 7 results have been reported so far, with 3 sales.  
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</body></html>

Clearance Rates

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Clearance Rates

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News