Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

<main data-perf-region="main">
Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

Property Auctions

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There are 1,392 homes scheduled for auction across the combined capital cities this week, increasing on the 1,176 auctions last week and higher than the 1,124 last year, according to CoreLogic data.
Sydney and Melbourne were both expected to see a rise in the number of homes auctioned this week, however given Melbourne’s restrictions, a large portion of these are likely to be withdrawn, as we’ve seen over the past few weeks.
This is a familiar scene from the first lockdown as homes were pulled from auctions heavily during that period.
In Sydney, 642 auctions are scheduled across the city, a 25% rise on last week’s volumes (515) and also higher than scheduled volumes from one year ago (394).
There are 558 Melbourne homes scheduled for auction this week, an expected rise of 11.6% on last week’s volumes (500), which saw a large number withdrawn (209); a trend that is likely to persist through the lockdown period.
Across the smaller cities, scheduled volumes are set to be higher across all cities but Perth.
<img src="https://www.urban.com.au/images/2020/7/23/CL%20JULY%2019.JPG" alt="">
Despite the negative speculation surrounding the property market, the Ray White Group is set for another strong weekend of auctions.
A return to online auctions in Victoria has done little to stem buyer confidence and the number of registered bidders for New South Wales properties remain near record highs.
Australasia’s biggest auction house has 240 auctions scheduled to take place this Saturday, a 72 per cent increase in the number of auctions at the same time last year.
One highlight is in Pymble where Ray White Upper North Shore Sales Agents Rowan Lazar and Graeme Schultz are taking the five-bedroom family home at 12 Lawley Crescent (pictured in title) to auction with a $2,250,000-$2,500,000 price guide.
“We’ve had more than 70 parties through the open homes during the campaign and we’ve issued 17 contracts so far – we’re expecting this one to be a great auction,” Mr Lazar said.
<img src="https://f.datasrvr.com/f1/620/64889/5_Hume_Street,_Kellyville_Ridge,_NSW.JPG" width="640" data-imagetype="External">
Over in Kellyville Ridge, Ray White Castle Hill Sales Executives Sara Perry and Karl Anthony are expecting big things for the modern and stylish property at 5 Hume Street (above).
“We’ve had 58 groups through and the property has particularly appealed to a wide-ranging demographic – namely families, downsizers and first-home buyers,” Ms Perry said.
“The vendors have bought a block of land in Box Hill to build their dream home and they’re motivated to sell – we’re expecting 4-6 registered bidders on the day.
The property goes under the hammer onsite at 12pm with Ray White Auctioneer James Kerley.
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j.ballantyne1990-6AQqhLzZaK

Sydney set to be the busiest auction market again due to Melbourne lockdown

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EXPERT OBSERVATION 
Weekly auction results are by far the most timely gauge of conditions across Australia’s housing markets.
For observers of the Sydney and Melbourne markets, a Sunday isn’t complete without checking the weekend clearance rate. That said, to get the right take from these figures it’s increasingly important to apply a few adjustments first. This note gives some quick tips on how to do this and how to judge whether a result really is strong, weak or indifferent.
In interpreting weekly clearance rates, there are two main effects we need to adjust for – ‘early result’ bias and seasonality – and a third aspect that, once incorporated, gives a clearer guide to price conditions. 
Early results skew high 
Unsurprisingly, successful auctions tend to get reported earlier. Patterns depend according to data provider but for CoreLogic, preliminary results are published on the Sunday then a final estimate on the following Thursday. The difference in terms of clearance rates is on average 3pts for Sydney and 1pt for Melbourne. However, the weaker market over the last 18 months has seen more slippage than usual, averaging closer to 5.5pts for Sydney and 1.5pts for Melbourne.
<ul>
<li>So, step one, for preliminary clearance rates, deduct 5.5pts for Sydney and 1.5pts for Melbourne.</li>
</ul>
<img src="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/image/Housing_Pulse/Housing_Pulse_Bites/2019-02/Auctions-2.jpg" alt="">
Seasonality positive heading into Autumn and Spring, negative around Christmas
The time of year also matters. Buyers and sellers come and go from the market at slightly different times, producing a regular ebb and flow to clearance rates as the balance of power shifts. For March this effect is worth about 2pts in Sydney, slightly more in Melbourne. Seasonality diminishes gradually heading into Winter, re-emerges in Spring and then turns sharply negative as buyers disappear over the Summer holiday period.
<ul>
<li>So, step two, take another 2pts off for seasonality (tweaking this as the year progresses). </li>
</ul>
Pre-auction withdrawals an important clue to size of price declines
One of the appeals of tracking auction clearance rates has been the relatively tight relationship with price growth. Generally speaking, clearance rates above 65% were typically associated with solid gains, and over 75% with outright strength, while rates below the 50-55% range were associated with price declines. 
That broad relationship still holds. However, clearance rates do not seem to be capturing the full extent of price weakness during the current correction. The lows seen late last year, in the 45-50% range, are comparable to those in 2011-12 and previous cycles, yet the pace of price declines has been somewhat faster. 
<img src="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/image/Housing_Pulse/Housing_Pulse_Bites/2019-02/Auctions-1.jpg" alt=""> 
Another aspect of the auction results – pre-auction withdrawals – may shed more light on this and provide a way of refining the measure to give a better gauge of price conditions. Historically, around one in eight properties heading to auction in Sydney has been withdrawn prior, with a much lower share – one in thirty – in Melbourne. Both have risen materially over the last year, and much more sharply than during previous downturns. In Sydney, it has been more than one in five and in Melbourne it has been about one in every fifteen.
Pre-auction withdrawals are part of the ‘uncleared’ portion of the clearance rate. However, they are likely a good indicator of a more stressed market. Whereas a passed in result may be due to bidders not taking the price above reserve, a withdrawal points to sellers assessing that there will be insufficient bidders to even justify an auction.
<img src="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/image/Housing_Pulse/Housing_Pulse_Bites/2019-02/Auctions-3.jpg" alt="">
How do we allow for us in our quick assessments? One relatively simple way is to calculate the ‘withdrawal rate’ – the proportion of auctions being withdrawn – and adjust the clearance rate by how this is varying to long run averages. For Sydney that adjustment is the clearance rate plus 14pts minus the withdrawal rate. For Melbourne, it is the clearance rate plus 3pts minus the withdrawal rate (the 14 and 3 in these calculations reflect the long run average withdrawal rate in each market).
<ul>
<li>So, step three, adjust both for the withdrawal rate gap to average</li>
</ul>
Conclusion
In summary, three relatively simple tweaks to the Sunday auction clearance rate give us a clearer idea of how they stack up:
<ol>
<li>A mark down for early result bias: currently –5.5pts for Sydney, –1.5pts for Melbourne; 
</li>
<li>An adjustment for seasonality: currently –2pts for both markets; 
</li>
<li>Incorporating pre-auction withdrawals: deducting the ‘withdrawal rate’ gap, the difference between the withdrawal rate and long run averages – for Sydney this is currently –8pts (22% withdrawal rate vs long run average of 14%); for Melbourne it  is –3.5pts (6.5% vs 3%). </li>
</ol>
The resulting ‘adjusted’ clearance rate can be compared against the usual benchmarks (&gt;65% associated with solid price gains, &lt;50-55% associated with price corrections) but gives a better idea of the extent of weakness. 
By way of example, Sydney’s preliminary clearance rate in the last week of February was 58.6% – knocking 5.5pts off for early result bias, 2pts of for seasonality, and a further 0.5pt for the withdrawal gap (14.5% vs avg 14%) gives an adjusted estimate of 50.6%, still a soft result but somewhat improved on the very weak reads late last year. The same adjustment for Melbourne takes a preliminary 53.1% clearance rate down to 50.1%. 
Interestingly, in both cases the main shift in early 2019 looks to be coming from a reduced rate of withdrawals rather than a lift in clearances. That may be an early sign that the pace of price declines is moderating. However, both shifts will need to be sustained and extended before auction market results are consistent with price stabilisation. 
Matthew Hassan<a href="https://westpaciq.westpac.com.au/Article/37494/14186/" target="_blank"></a> is Senior Economist at Westpac.
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Matthew_Hassan-HHWHptmrw4

Matthew Hassan's ‘how to’ guide to reading auction clearance results

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Financial Review Rich List member Geoff Harris has invested a further $1.8 million in online live auction app Gavl, which is developing technology it believes will lead to real-time bidding at auctions.
Australian-owned, Gavl has the fastest live streaming technology in the world.
Harris first invested in Gavl late last year, run by former Hawthorn AFL footballer Joel Smith. The pair met when Harris was a Hawthorn director between 2004 and 2013.
Gavl secured a $2.5 million investment in June 2016 from Harris Capital, which enabled Gavl to live stream its first auction and release its Apple iOS and Android apps.
The current Gavl app allows property buyers and browsers to search a map, select a property that is using the technology and then view its auction either live or later. 
At the auction itself, a tripod is set up with a smartphone to relay the proceedings via the app online.
Gavl is now developing technology that it claims will eventually add digital contract signing, deposit transfer facilitation between buyer and seller via the agent and 360-degree camera and Artificial Intelligence integration.
"We are currently piloting technology that allows a consumer to not only watch, but bid and ultimately buy at auction, and complete the transaction without having to be physically on site," Mr Smith told The Australian Financial Review.
He hopes to have the technology ready next year.
It has the only app dedicated to the real estate industry with a patent-pending technology that can broadcast live events with a one-second latency – this includes Facebook Live, which is commonly used by the industry. 
Joel says when they first tested Facebook Live for auction live streaming, "we were measuring a 5-20 second latency."
"In an auction environment, this delay could be the difference between a property selling for $950,000 and $1.1 million.
"We spent 15 months developing the technology to live stream with a one-second latency as well as address another challenge for agents: network reliability with live streaming, and this technology is key for us in launching live auction bidding.” 
Gavl claims that its technology has now been used by 200 Australian real estate agencies to broadcast 3500 auctions.
The $1.8 million is being invested via the Harris Capital investment office, managed by Mr Harris's son, entrepreneur and philanthropist Brad Harris. 
Mr Harris is still a major shareholder in Flight Centre.
Joel Smith founded Gavl with Leith Donaldson and Michael Artup, launched with a $300,000 bootstrap from Joel and his father-in-law.
 
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Geoff Harris has invested a further $1.8 million in online live auction app Gavl

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There are slightly fewer auctions scheduled to take place across the combined capital cities this week, with 2,986 currently being tracked according to CoreLogic’s latest weekly market report.
The property advisory firm says that in both Sydney and Melbourne, the two major auction markets, auction activity will be down week-on-week, with 1,351 Melbourne auctions scheduled and 1,111 homes set to be taken to auction across Sydney.
Overall activity also remains lower than what was seen over the corresponding week last year.
Outside of Sydney and Melbourne, each of the remaining capital cities is set to see a higher number of auctions this week compared to last week.
The exception was Perth, where auction activity is set to remain steady.
<a href="/images/2016/12/01/Weekly%20clearance%20rate.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/01/Weekly%20clearance%20rate.jpg" alt="">
Capital city auctions this week:
• Sydney: 1,111
• Melbourne: 1,351
• Brisbane: 188
• Adelaide: 156
• Perth: 59
• Canberra: 110
St Kilda in Melbourne is the busiest individual suburb for auctions across the nation this week, with 22 residential homes set to go under the hammer.
Reservoir (20), Mount Waverley (19), Craigburn and Glen Waverley (both 17) all of which are in Victoria will also have high numbers of auctions this week.
<a href="/images/2016/12/01/Capital%20city%20auction%20statistics.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/01/Capital%20city%20auction%20statistics.jpg" alt="">
The number of auctions increased last week, recording the second busiest week this year, with 3,398 auctions held across the capitals, up from 2,987 the previous week.
The Capital city auction clearance rate remained strong last week despite the increase in auction numbers, final results show 73.0 per cent of auctions were successful.
Last week, Melbourne’s clearance rate was 76.1 per cent, down from 79.4 per cent the previous week.
While for Sydney, final results show that the clearance rate for the city fell to 77.1 per cent from 79.6 per cent the previous week.
Despite that, there were a number of sub-regions where clearance rates came in above the 80 per cent mark.
Across the smaller auction markets, performance was mixed last week, with clearance rates falling in Brisbane, Adelaide and Perth, but improving in Canberra.
The Hunter region was the busiest non-capital city region last week, with 60 auctions, however Geelong recorded the strongest clearance rate at 76.9 per cent.
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Sydney and Melbourne aucton market declines compared to last week: CoreLogic

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It has been another strong week for auction results, with a preliminary auction clearance rate of 77.9 percent, according to CoreLogic's latest monthly report.
There were 2,405 auctions held across the combined capital cities. Auction volumes still remain below levels of last year. The clearance rate has remained above 70 percent since the last week in July.
Last week, the final auction clearance rate was recorded at 76.4 percent with 2,290 residential properties taken to auction.
<a href="/images/2016/10/18/Captal%20city%20auctions.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/18/Captal%20city%20auctions.jpg" alt="">
At the same time last year, auction volumes were higher, with 2,858 capital city auctions held, 67.4 percent were successful.
Sydney’s clearance rate continues to be nation leading, however the number of auctions held is still lower that at the same time last year.
<a href="/images/2016/10/17/Brisbane%20%20Adelaide%20weekly%20clearance%20rate.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/17/Brisbane%20%20Adelaide%20weekly%20clearance%20rate.jpg" width="300">
Adelaide's weekly auction clearance rate has improved compared to last year's. Last year the weekly average for clearance rate was around 55 percent, this year it rose by 10 percent.
Brisbane has seen slight improvement on weekly auction clearance rate compared to last year's. Last year the weekly average was 42 percent while this year it rose to 48 percent.
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