<a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> has commenced construction on its latest Gold Coast apartment development, Maris, on the site of the former Sundale Motel in Southport.

The start of construction by <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a> follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since launch. Every purchaser has been local, an&nbsp;indicator of confidence in both the development and Southport's evolution into a thriving CBD.

<a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a> will deliver 192 residences across 20 levels. The project forms part of MRCB's Australian and New Zealand development pipeline now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.

[smartcode_project:default project_id=134403 project_image_fid=350663]

The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70 per cent of residences sold.

Maris has been designed to meet evolving buyer demand, offering architecturally designed layouts suited to long-term liveability. The approach reflects a growing preference for quality and adaptability among Gold Coast buyers.

Positioned next to the Broadwater in the <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> CBD, Maris sits directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.

[smartcode_project:default project_id=134403 project_image_fid=372756]

Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.

Binah, a New South Wales headquartered company co-founded by Amen Zoabi and Khalil Hafza in 2008, has expressed its excitement at establishing its first partnership with MRCB.

Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.

"MRCB's financial strength and a track record that speaks for itself give this project a solid foundation, and this marks the beginning of what will be a long and successful relationship.

"With the right people, systems and partnerships behind it, Maris is set to become a significant addition to the Gold Coast's premium residential market."

[smartcode_project:default project_id=134403 project_image_fid=350664]

MRCB International CEO Ravi Krishnan said the project's progression to construction reflects both sustained demand and tightening conditions across the apartment sector, as well as MRCB's continued confidence in the Gold Coast market.

"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.

"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."

[smartcode_project:default project_id=134403 project_image_fid=372761]

Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.

"We're seeing a clear shift back towards well-located urban centres where infrastructure, connectivity and amenity are already established," said Mr Krishnan. "Southport is evolving into a more mature CBD environment, and that is being reflected in buyer behaviour."

Construction at Maris is anticipated to be completed in 2029.

[smartcode_project_cta:default project_id=134403]

Joel Robinson

Construction commences on MRCB’s $200m Maris Residences in Southport

Moonee Valley Park’s latest residential release <a href="https://www.apartments.com.au/new-apartments/the-eveline-at-moonee-valley-park-moonee-ponds-100-thomas-street-moonee-ponds-vic-3039">The Eveline</a>, has achieved a new benchmark for off-the-plan apartment sales in the suburb, with the sale of The Alexandra penthouse selling for $5,435,000.

Positioned on the top floor of a 16-level residential building, the three-bedroom, three and-a-half-bathroom penthouse features uninterrupted city skyline views across the future Valley racetrack.&nbsp;

The landmark sale comes as momentum at the precinct continues to build, with the Moonee Valley Racing Club progressing works on its new racetrack ahead of the 2027 Cox Plate. The transformative development will see MVRC reimagine the beloved Valley as a vibrant year-round entertainment and lifestyle destination.

Alongside a world-class racing experience, the historic precinct will be activated with events, hospitality and public green spaces designed to attract broader audiences, while breathing new life into one of Melbourne’s most iconic destinations.&nbsp;

[smartcode_project:default project_id=142519 project_image_fid=372786]

Development partners <a href="https://www.apartments.com.au/developers/hamton">Hamton Property Group</a> and Hostplus have delivered five residential stages over the past four years, the most recent in November 2025 with Trackside House and Stonepine House. The flourishing community is now home to almost 500 families.&nbsp;

The latest residential release, The Eveline, has recorded strong demand since launching publicly last July, securing more than $200 million in sales to date, satisfying its pre sales hurdle for construction to commence.&nbsp;

Hamton Founder and Executive Chairman, Paul Hameister OAM said, the sales&nbsp;team have been overwhelmed by demand for these unique homes in this unique project.

"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.

[smartcode_project:default project_id=142519 project_image_fid=372788]

Hamton’s Sales and Marketing Director Fergus Humphries said the team has achieved more than 70 sales over the past eight weeks, including the penthouse purchase by a local buyer.

"These results reinforce that, even in a challenging market, purchasers continue to be drawn to quality projects that offer more than just a home, they offer a lifestyle.”

Designed by Cera Stribley, the penthouse has been created with entertaining in mind, spanning close to 400 sqm of indoor and outdoor living space, including multiple terraces designed to capture sweeping views across Melbourne’s skyline, the new Valley racecourse and sunset views over Moonee Ponds.

Moonee Valley Park is one of Melbourne’s largest urban renewal projects, transforming the iconic racecourse site into a vibrant mixed-use neighbourhood integrating homes, parklands, retail, racing and community amenities.

[smartcode_project_cta:default project_id=142519]

Moonee Valley Park penthouse sets suburb record as sales surge clears construction benchmark

A company linked to one of Australia's largest privately owned cattle businesses has lodged plans for a new residential tower in <a href="https://www.apartments.com.au/developments/newstead-qld-4006">Newstead</a>, continuing the rapid transformation of one of Brisbane's most sought-after, inner-city precincts.

Bottletree Holdings, an entity associated with Stanbroke Managing Director Brendan Menegazzo, has submitted a development application for a 28-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/9-longland-street-newstead-qld-4006">9 Longland Street</a>, a site that made headlines last year when it changed hands in an off-market transaction that reportedly set a benchmark land rate for the suburb.

The proposal would replace an existing two-storey commercial building on the 1,510 sqm corner site with a Bureau Proberts-designed tower comprising 76 apartments, ground-floor retail, office space and a suite of resident wellness amenities.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="c710a836-568e-4382-bc91-3c34b8e80a8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.41.45%E2%80%AFAM.png?VersionId=Vy.mQWBc7GA_a.vIBdxKqRC9XGjWalo2" />

According to planning documents lodged with Brisbane City Council, the development would comprise a mix of 36 two-bedroom apartments, 24 three-bedroom apartments and 16 four-bedroom residences, positioning the project firmly at the premium end of the market. The apartments would sit above a podium containing retail and commercial space, with three levels of communal recreation facilities spread throughout the tower. The proposal also includes 198 car spaces and 95 bicycle spaces.

Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.

"Occupying a prominent corner in the heart of Newstead, the proposal draws from the area's industrial lineage of robust brick warehouses to deliver a distinctly contemporary response," the architects said in the design statement.

"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."

The design seeks to reinterpret the traditional Queensland vernacular through wraparound verandahs, deep shading elements and permeable facades that respond to Brisbane's subtropical climate.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="25524f59-395c-4825-8fad-9b639822fa8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.09%E2%80%AFAM.png?VersionId=dlWlbpCc_g3Y6yTLGqRVKvGJvO2ubMJ3" />

Planning documents describe the building as embodying the principles of "buildings that breathe", a design approach increasingly favoured in Brisbane's apartment market as developers focus on natural ventilation and outdoor living spaces.

The tower itself would rise above a heavily landscaped podium designed to reference the woolstore architecture that helped define Newstead and neighbouring Teneriffe for generations. At ground level, fine-grain retail tenancies would activate Longland Street, Wyandra Street and the existing Wyatt Street laneway, further extending the pedestrian network that has become a hallmark of the Gasworks precinct.

The application notes that more than 54 per cent of the site would be dedicated to landscaping and deep planting, while approximately 1,750 sqm of communal recreation space would be delivered across multiple levels.

<img alt="Planning" data-entity-type="file" data-entity-uuid="fed3b189-1054-4b68-af5f-b0befc4a66e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.19%E2%80%AFAM.png?VersionId=gqeE3cjsbnLAfeTUKA1HtPZfqDs6S4Xa" />

Bottletree paid $22 million for the 1,510 sqm development site, equating to more than $14,500 per sqm, a reflection of the strong demand for development opportunities in Newstead. The suburb continues to attract both developers and buyers, underpinned by the ongoing evolution of the Gasworks and Teneriffe precincts into some of Brisbane's most sought-after lifestyle destinations.

Brisbane City Council's Sustainable Growth Strategy and Inner City Strategy both identify Newstead as a priority growth precinct capable of accommodating additional housing density due to its proximity to employment hubs, public transport and lifestyle infrastructure.

The proposed tower joins a growing pipeline of high-end apartment developments in the suburb. Fortis recently launched <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a>, a 65-apartment owner-occupier-focused development on Kyabra Street, while Consolidated Properties Group is preparing to launch <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a 227-apartment waterfront project on Skyring Terrace.

Meanwhile, builder-developer BPG is planning its own Newstead project on Maud Street, comprising just over 100 apartments and more than 1,380 sqm of dedicated wellness and resident amenity spaces, further highlighting the shift towards lifestyle-driven apartment developments in Brisbane's inner-city market.

Newstead apartment boom continues with Longland Street tower plans

ALAND has taken the next major step in delivering its vision for Leppington Town Centre, lodging State Significant Development plans for a $549 million residential precinct that would bring more than 1,200 new homes within walking distance of Leppington Station.

The proposal, now on public exhibition, forms the Residential Core Precinct of the broader Leppington Town Centre masterplan and would transform a 4.3-hectare site at <a href="https://www.apartments.com.au/new-apartments/156-166-rickard-road-leppington-nsw-2179">156-166 Rickard Road</a> into a high-density mixed-use neighbourhood comprising nine residential buildings rising between six and 25 storeys.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="fc20982d-a0a9-4989-8fb3-680ca9fdcd10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.44%E2%80%AFAM.png?VersionId=l5EEyS6Dkf_SLDQkwDeyAU2nXkSZP2RW" />

The development has been designed by Rothelowman and is being pursued through a State Significant Development Application alongside a concurrent rezoning request under the NSW Government's Housing Delivery Authority pathway.

If approved, the project would deliver 1,206 dwellings, including 784 build-to-sell apartments, 208 build-to-rent apartments, 189 affordable housing units and a nine-storey serviced apartment building containing 112 rooms. The proposal also includes around 7,400 sqm of non-residential floor space, new public open space, communal recreation areas and a new internal street network.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="c4f80d3b-cb05-4068-8a87-808317807a99" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.36%E2%80%AFAM.png?VersionId=KfPqh1JBuxc53IWntEzGHAeBaCLmRmum" />

<h2 data-end="1990" data-section-id="s6350" data-start="1941">A key piece of Leppington's future town centre</h2>

The site sits around 250 metres from Leppington Station, which opened in 2015 as the terminus of the South West Rail Link and has long been earmarked as the catalyst for the suburb's transformation from a rural fringe location into a major strategic centre for Western Sydney.

Leppington has become increasingly important following the announcement of the Western Sydney International Airport and the emergence of Bradfield City Centre, with government planning identifying the precinct as a significant location for future housing and employment growth.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="8ca0f098-affc-48c0-80d3-468ea090a20c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.26%E2%80%AFAM.png?VersionId=o3mwgBFT6H9YUllI0JR.JfLsUYQy1CTa" />

According to Rothelowman, the proposal responds directly to Leppington's unique position between its agricultural past and its urban future.

"The site offers an opportunity to weave together multiple layers of history, from its ancient connections to Country along the ridgeline between two waterways and its origins as part of the Cumberland woodland, to its more recent agricultural uses, and its future as a new residential community," the architects said in the design report.

The architects said the project aims to establish a high-density residential typology that combines apartment living with extensive landscaping and public open space.

"The design responds by establishing a high-density typology that combines the convenience and amenity of contemporary apartment living with a renewed native landscape."

<h2 data-end="3541" data-section-id="1ko88s2" data-start="3485">Nine buildings arranged around parks and public space</h2>

The proposal has been designed around a landscape-led framework rather than a traditional podium-and-tower approach.

Across the site, approximately 7,500 sqm of public open space would be delivered through a network of north-south and east-west linear parks, connecting into the wider Leppington Town Centre open space network. A further 8,000 sqm of communal open space would be provided for residents.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="f5113abf-5440-4610-9cdc-60a0d41a407e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.55%E2%80%AFAM.png?VersionId=k8zLMj4yZS4hStmGzZJfosjj5iArwIek" />

Rothelowman said the design seeks to maximise landscaping at ground level by concentrating development into compact tower footprints.

"Buildings are carefully lifted and distributed to minimise disturbance to the natural terrain, allowing the ground plane to remain open, permeable, and led by landscape," the design report states.

Rather than creating a continuous podium edge, the design team has focused on allowing landscaping to extend beneath and around the buildings.

"The ground plane is conceived as an extension of the surrounding environment, allowing landscape to flow up to and beneath the built forms."

The architectural language also draws on the area's natural landscape, with Rothelowman describing a material palette influenced by local gum trees, bark textures, creek systems and sandstone tones.

<h2 data-end="4971" data-section-id="s69utu" data-start="4922">Affordable housing and build-to-rent component</h2>

One of the more significant aspects of the proposal is the diversity of housing typologies.

In addition to traditional apartments for sale, the scheme includes a dedicated 25-storey build-to-rent building with 208 apartments and a 22-storey affordable housing building containing 189 homes.

The affordable housing component represents almost 16 per cent of the total dwellings proposed within the Residential Core Precinct.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="f87e6808-e462-44c6-bfa8-a3de1816f2e3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.33.36%E2%80%AFAM.png?VersionId=WTsRKiUAyWw18S5S98yQB5oVuDcnJTxB" />

Community consultation undertaken ahead of the lodgement found support for additional housing in the area, particularly given ongoing affordability challenges across South West Sydney. Survey work conducted with local residents found housing affordability was one of the poorest-rated aspects of living in Leppington, while a majority of respondents were open to additional housing within the local government area.

The site's proximity to Leppington Station was identified as the most positively viewed aspect of the proposal, while public open space and affordable housing provisions also received majority support.

<h2 data-end="6184" data-section-id="1ngkie4" data-start="6140">Part of Leppington's broader expansion</h2>

ALAND will be a significant contributor to the broader vision for Leppington Town Centre, which is expected to accommodate more than 25,000 residents as the precinct evolves over the coming decades.

Located within Sydney's South West Growth Area, the 440-hectare Leppington Town Centre has been identified by the NSW Government as a strategic centre spanning both the Liverpool and Camden local government areas.

In 2023, Liverpool City Council and Camden Council, supported by the NSW Department of Planning and Environment, prepared a draft planning proposal to rezone land and amend development controls across a number of sites within the town centre.

The proposal outlines a new vision for Leppington Town Centre, reducing the amount of land allocated for business park uses while increasing land zoned for commercial development, housing and open space. The changes are designed to optimise land use across the precinct and support the delivery of a more walkable, transit-oriented centre anchored by Leppington Station.

&nbsp;

ALAND plots 1,200-home Leppington masterplan

Brisbane-based developer <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a>&nbsp;has enlisted renowned architecture firm Koichi Takada Architects to design its latest new apartment development.

The new 34-storey tower at <a href="https://www.apartments.com.au/new-apartments/57-berwick-street-fortitude-valley-qld-4006">57 Berwick Street, Fortitude Valley</a>,&nbsp;will have 189 apartments, complete with interiors by <a href="https://www.apartments.com.au/architects/byculprit">byCULPRIT</a>. The upper levels&nbsp;capturing views across the Story Bridge, city skyline, ranges, bay and river.

Residents will have access to a rooftop amenity floor with facilities including a pool, spa, sauna, hot and cold treatment, meditation garden, gym, yoga studio, private dining, BBQ, games lounge, wine display wall, work library, meeting rooms and outdoor work areas.

<a href="https://www.apartments.com.au/developers/trk-property-group">TRK</a> Founder and Managing Director, Arpan Kohli, said it will be a project "Brisbane hasn't seen before."

&nbsp;

"To deliver a project of this calibre, you need the right people involved," Kohli said.

"Koichi Takada Architects and byCULPRIT set the benchmarks for design excellence, and this project reflects that - a building of genuine architectural significance in one of Brisbane's most coveted locations, sitting between Howard Smith Wharves and the James Street precinct."

TRK recently launched <a href="https://www.apartments.com.au/new-townhouses/laya-residences-taigum-203-beams-road-taigum-qld-4018">LAYA Residences in Taigum</a>, 88 three-bedroom townhouses starting from $1,495,000. They have another apartment site in Indooroopilly, at <a href="https://www.apartments.com.au/new-apartments/140-central-avenue-indooroopilly-qld-4068">140 Central Avenue</a>. That will have 131 apartments.&nbsp;

&nbsp;

TRK proposes Koichi Takada-designed apartment development in Fortitude Valley

Markets

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Let’s look at the facts and decide where first of all we need to separate the investment property markets and the first home buyer markets from the family residence markets.
We also need to look at the current NSW Government mandate where they intend to merge councils to ensure that NSW keeps developing and driving residential construction to record levels never seen before. Premier Mike Baird is a smart man as he knows that the investor market has never been larger given the record stamp duty and land tax receipts. These are the new ‘rivers of gold’ that will in part fund this massive infrastructure spend.
According to Stockland chief executive ‘the Australian property sector is in the second quarter of what is often a seven – to – eight year housing cycle’. Now I have no problems with that and I agree given we all know what the intentions are of the NSW State government….it’s build – build – build to then generate tax – tax – tax.
We also now find ourselves in unchartered waters given we have never encountered a record low cash rate which could even go lower – another driver of the real estate market. Historically there have been two drivers to mortgage delinquency – increasing cash rates and unemployment. On that basis we can remove an increasing cash rate in the short term or quite possibly long term, although some are now warning property developers that they should be factoring in a price crunch.
Well that can’t happen given the property developers are concentrating on investors and the booming overseas market where 100 per cent of all ‘new’ developments can be sold to non – Australian residents.
Now the biggest conflict is Australia’s housing policy or better still our elected politicians who have no idea what they are talking about when they implement new policies – Federal treasurer Joe Hockey is the prime example.
Earlier this week he declared ‘that the crackdown on foreign investors illegally buying property in Australia could force down house prices.” Well for that to happen there would need to be thousands and thousands of properties flooding the market. Is he aware of something that we need to know?
This week Treasurer Joe Hockey announced new laws regulating property purchases by foreign investors and this clanger got my blood boiling. Mr Hockey said “foreign investment rules had not been significantly revised since their introduction 40 years ago.” Under the draft laws, penalties would be increased from $90,000 to $135,000 for serious breaches of residential real estate rules. Real estate agents, migration agents, lawyers and conveyancers who knowingly assist a foreign investor in breaching the rules will now be subject to both civil and criminal penalties.
Well Mr. Treasurer, all you need to do is enforce that all property buyers produce a tax file number and then you build your national Property Register and the Australian Taxation Office can record all transactions.
Now back to the “foreign investment rules had not significantly been revised since their introduction 40 years ago”. Back on 18 December 2008, the Australian Federal Government (for reasons only known to themselves) announced policy and administrative changes for foreign investors acquiring Australian real estate where they very kindly made it much easier from 2009 for foreign investors to acquire Australian real estate. This was a major announcement so I assume our esteemed treasurer completely overlooked this announcement when he went back over the past 40 years.
The existing requirement which allowed only 50 per cent of new dwellings to be sold to foreign persons in an ‘off – the – plan’ situation was changed to 100 per cent – on the proviso that developers market locally as well as overseas. Today we have overseas developers selling new developments exclusively overseas and they are not offered to Australian investors. Also a ‘new dwelling’ was defined as never previously occupied or sold. This now includes dwellings that were not sold by the developer but were rented out for no more than twelve months. I bet that has never been policed or followed up by the Foreign Investment Review Board (FIRB)?
They also implemented student visa holder residents in Australia are no longer subject to a $300,000 limit on the value of an established dwelling purchased as their principal place of residence. So students through their parents can buy waterfronts and the like? Temporary residents will not be required to notify FIRB of proposed acquisitions of an established dwelling for their own residence, any new dwellings and single blocks of residential land. Foreign – owned companies can now purchase established dwellings for the use of their Australian – based staff provided they sell or rent them if they are expected to remain vacant for more than six months.
And on and on it goes …….
So by now I am hoping that you are identifying the conflicting evidence that is coming out of Canberra. Why has the allowed foreign investor allocation for new dwellings been allowed to remain at 100 per cent where for 34 years it was set at 50 per cent?
<a href="/expert-insights/why-todays-chinese-property-investment-is-just-the-beginning-andrew-taylor">Why today’s Chinese property investment is just the beginning.</a> The questions that need to be asked is just why did Kevin Rudd and Wayne Swan make such significant changes to best suit foreign buyers? Why has the ratio been left at 100 per cent given the strength of the Australian property market? A strong argument that if you want to keep this at 100 per cent then remove both Sydney and Melbourne CBD’s from the overseas shopping trolley.
This week we learned that Nine Entertainment has sold its Sydney headquarters to Hong Kong based developer Euro Properties for $147.5 million. The selling agent CBRE’s Matthew Ramsay said 17 bids had been received from local and international investors and developers. Mr Ramsay said “that foreign investment in the Australian property market was at an all – time high, bolstered by a lower Australian dollar.” I’d say the lower dollar helps and the real reason is that the overseas developers can (thanks to the Australian Government) sell the entire development off – shore to investors.
Oh and I wouldn’t hold your breath if you were thinking of buying one of the 400 or so apartments when the Nine Entertainment development is offered for sale.
<h5>MOSMAN – 2088</h5>
• Number of houses on the market this time last year – 66
• Number of houses on the market last week – 47
• Number of houses on the market this week – 53
• Number of apartments on the market this time last year – 48
• Number of apartments on the market last week – 40
• Number of apartments on the market this week – 41
<h5>CREMORNE – 2090</h5>
• Number of houses on the market this time last year – 8
• Number of houses on the market last week – 2
• Number of houses on the market this week – 2
• Number of apartments on the market this time last year – 13
• Number of apartments on the market last week – 18
• Number of apartments on the market this week – 15
<h5>NEUTRAL BAY – 2089</h5>
• Number of houses on the market this time last year – 4
• Number of houses on the market last week – 2
•Number of houses on the market this week – 4
• Number of apartments on the market this time last year– 31
• Number of apartments on the market last week – 25
• Number of apartments on the market this week – 25
 
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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robertsimeon-hRNTwJyXkQ

Why is property full of conflicting evidence? Robert Simeon

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The economic slowdown resultant from COVID-19 has changed working conditions for many. But quantifying the impact on labour markets at this stage is difficult.
That is because labour market data is not real time, but instead reference the first two weeks of the previous month to the data release date.
The start of the economic slowdown was not felt until halfway through March 2020, meaning unless the survey methods are altered, regular labour force data will not show an impact until the May edition.
However, there are some things we already know about Australia’s labour force that provides insight into how property markets may be particularly affected.
Many workers are having their hours reduced On April 7th, the ABS released new survey results on the impact of COVID-19 on businesses.
Over 1,200 business representatives responded, revealing changes that had been made to the workforce.
 
Of the actively trading businesses surveyed, about a quarter reported reducing staff hours over the past few weeks. A summary of businesses reporting reduced staff hours by size and industry is presented below. 
<img src="https://www.urban.com.au/images/2020/4/9/CL%20working.png" alt="">
Reduced staff working hours is an early response businesses typically adopt during a downturn, with a view to preserving jobs
ELIZA OWEN is the Head of Research Australia at CoreLogic
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pchatterjee-seVgoiQgz5

The COVID-19 labour market shift: CoreLogic's Eliza Owen

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The strength of most capital city auction markets tracked marginally down over June 2015, according to the Domain Australian Home Auction Report for June 2015. 
The report, compiled by property website <a href="https://mail.privatemedia.com.au/owa/14.3.224.2/scripts/premium/redir.aspx?SURL=mZnFDtHeNC7xNr3NmEw_ju-p-6a1En_LGsXjtjltDcL_7phTxoDSCGgAdAB0AHAAOgAvAC8AdwB3AHcALgBkAG8AbQBhAGkAbgAuAGMAbwBtAC4AYQB1AA..&amp;URL=http%3a%2f%2fwww.domain.com.au" target="_blank">Domain.com.au</a> with analysis from Domain senior economist, Dr Andrew Wilson noted it had been a mixed month for the auction market overall.
"We are definitely starting to see the first signs of the typical winter cooling period as sellers are starting to think about the Spring property season. 
"That said, markets are still well ahead year-on-year and we are starting to see the underlying strength across the board,” Wilson said.  Sydney Sydney’s June clearance rate, while still strong at 82.9%, dropped slightly from 83.3% in May. This is still well ahead of the 70% clearance rate recorded in June 2014.  Domain’s Dr Andrew Wilson said that the declining weekend auction trend in Sydney in June, can can be attributed in part to the usual mid-year seasonal effects.  “Unrealistic expectations by vendors of market prices in the extraordinary Sydney market may be a factor in declining clearance rates. Unseasonably high auction numbers are set to continue into July, providing buyers with a wider choice of property, however.” 
<ul dir="ltr">
<li>Average number of Saturday auctions in Sydney in June was 599, down from 706 average in May, but well ahead of 528 averaged in June last year</li>
<li>Slight weakening in the clearance rate translated into a fall of 2.9% in the median auction price for homes sold under the hammer over June</li>
<li>June median auction price of $1,105,000 was down from the all-time record of $1,137,500 recorded in May </li>
<li>June median house price, although a slight decrease from May, was still an increase of 22.8% on the $900,000 median home auction price recorded in June 2014</li>
</ul>
 Melbourne Unlike the Sydney auction market, clearance rates for the Melbourne market increased over June compared to the previous month. Melbourne reported a clearance rate of 79.2% for June, just ahead of the 78% recorded over May and up more than 10% (68.8) from June last year.  Melbourne’s June clearance rate was the highest recorded for any month since April 2010 and the highest June result since 2007. According to Domain’s Dr Andrew Wilson, similar to Sydney, Melbourne clearance rates trended downwards over June as the mid-winter moderating effect took hold.  “The data was indicative of the slow down into July, when listing numbers are expected to in line with what is typically the trough of the market for monthly auction activity each year with the exception of January”.
<ul dir="ltr">
<li>Melbourne averaged 685 auction listings for each Saturday over June and although well down on the 928 averaged in May, remained ahead of the 634 reported over June last year </li>
<li>The Melbourne median price of homes auctioned over June fell by 4.9% over the month from $820,000 in May to $780,000. This however remained 10.6% higher than the $705,000 median recorded in June 2014</li>
</ul>
Brisbane The Brisbane auction market also experienced a slight increase in clearance rates in June. The clearance rate of 50% was just ahead of the 48.6% recorded in May, but significantly higher than in June 2014 (36.4). 
<ul dir="ltr">
<li>Brisbane averaged 92 auctions per Saturday over June, down from the 118 average over May but well ahead of the 79 averaged over June last year</li>
<li>Domain reported a median Brisbane home price sold at auction of $685,000 over June, an increase of 0.5% over May’s $681,500 and 5.2% higher than the $651,000 recorded over June last year</li>
<li>The Brisbane June clearance rate was its highest recorded for June since 2003</li>
</ul>
Canberra Canberra recorded another solid auction clearance rate in June at 63.2%. Although down marginally from the 64.2% recorded in May, it was nonetheless well ahead of the 55.4% recorded last June. 
<ul dir="ltr">
<li>Canberra averaged 35 listings per Saturday in June, down from the 48 averaged over May but well ahead of the 23 averaged over June 2014</li>
<li>Domain reported the Canberra median home auction price recorded in June was $650,000, a fall of 2.6% over the May result of $667,500 but an increase of 2.4 percent over the same month last year</li>
<li>Canberra’s June clearance rate was the highest recorded by that city for that month since 2009</li>
</ul>
Adelaide Domain reported that the Adelaide auction market fell away over June to a clearance rate of 61.2%, down from the 64.6% recorded over May. While there has been a significant drop month-on-month, the results are still ahead of the 57.5% result for June 2014. 
<ul dir="ltr">
<li>The Domain data shows that Adelaide averaged 53 auction listings per Saturday over June, down from the 67 average over May, ahead of the 49 averaged over June a year ago</li>
<li>The median auction price for a home in Adelaide over June was $560,000, a fall of 1.1% over the May result of $566,500 but 6.2% higher than the $527,500 recorded over June last year</li>
</ul>
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