Brisbane-based developer <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a> has made a striking debut on the Gold Coast, officially unveiling its $250 million COMO development in Varsity Lakes, a lifestyle-driven residential project anchored by an extensive rooftop wellness and activity precinct.

Having recently launched to market, construction has already been fast-tracked by <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a>, ensuring momentum continues on what is set to become a landmark residential address for the growing Varsity Lakes community.

Located at 22 Lake Street, Varsity Lakes, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels, comprising one-, two- and three-bedroom residences designed for modern living. However, it is the project’s rooftop amenity offering that sets COMO apart.

[smartcode_project:default project_id=135546 project_image_fid=363510]

Designed as a dedicated wellness and recreation hub, the rooftop will feature a 25-metre lap pool, fully equipped gymnasium, and multiple pickleball and paddleball courts - amenities rarely seen in boutique apartment projects.

Residents will also have access to a sauna and plunge baths, while landscaped gardens and relaxation zones will provide tranquil spaces overlooking sweeping panoramic views across the Gold Coast skyline.

The rooftop precinct has been designed to function as the social and wellness heart of the development, encouraging residents to embrace an active, balanced lifestyle within their own building.

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[smartcode_project:default project_id=135546 project_image_fid=363512]

Red &amp; Co director David Laverty said the amenity offering was central to the project’s design from the outset.

“Amenities were at the forefront of our decisions,” Laverty said.

“Buyers today are looking for more than just an apartment - they want a lifestyle that promotes health, connection and balance.

“The rooftop at COMO has been designed to be the epicentre of that lifestyle, with a suite of wellness and recreation facilities that are quite unique for a boutique development of this scale.”

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363514]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the residences prioritise liveability, featuring spacious layouts, 2.7-metre ceilings and high-quality finishes throughout.

The development sits beside Bond University, placing residents within walking distance of education, retail and dining options within the vibrant Varsity Lakes precinct, including Robina Town Centre, Varsity Lakes Train Station and a range of leading schools.

[smartcode_project:default project_id=135546 project_image_fid=363511]

Laverty said the location was a key driver behind Red &amp; Co’s decision to bring the project to the Gold Coast.

“<a href="https://www.apartments.com.au/developments/varsity-lakes-qld-4227">Varsity Lakes</a> was a clear choice for us to invest in as it’s a lifestyle hub that seamlessly blends lakeside living with urbanity,” he said.&nbsp;

“Como will capitalize on this great location, delivering a project that not only creates premium homes, but a lifestyle defined by community, wellbeing, and connectivity.”

Red &amp; Co has delivered more than 500 apartments and townhouses across 26 projects in Brisbane in recent years, with COMO marking the company’s first major Gold Coast development.

[smartcode_project_cta:default project_id=135546]

Joel Robinson

Red & Co unveils amenity-rich Como development in Varsity Lakes

Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/big-projects">Big Projects</a> has secured approval for its second Mermaid Beach project.

The developer, currently selling <a href="https://www.apartments.com.au/new-apartments/the-frederick-mermaid-beach-2265-gold-coast-highway-mermaid-beach-qld-4218">The Frederick in Nobby Beach</a>, has secured approval for its next project just 1.5 kilomnetres up the road.

The new development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/glenelg-residences-2462-2472-gold-coast-highway-mermaid-beach-qld-4218">Glenelg Residences</a>, has been designed by BDA Architecture and&nbsp;will have just under 100 apartments across an 11-storey building&nbsp;at 2462–2472 Gold Coast Highway, on the corner of Glenelg Avenue just under 300m from the future Mermaid Beach Light Rail stop.

The apartments, a mix of two- and three-bedrooms, will sit above a retail-focused ground plane and under extensive rooftop resident amenities.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-06-11%20at%209.55.04%20am.png?VersionId=z6NV4izeuvhBSSVlY6vK6TPO1LxrFeaG" />

BDA said in its planning submission that the project is intended to support the area’s transition toward higher-density, mixed-use living. “This project offers the opportunity to generate appropriate higher-intensity development within the future Light Rail corridor of <a href="https://www.apartments.com.au/developments/mermaid-beach-qld-4218">Mermaid Beach</a>,” the submission noted.

At ground level, Glenelg Residences will include eight retail tenancies designed to activate the street frontage, complemented by a basement bar offering an additional hospitality element. Above, residents will have access to a rooftop amenity deck featuring an infinity pool, hot and cold plunge spas, day beds, and barbecue facilities.

The architectural approach adopts a restrained material palette of brick, textured concrete, and integrated landscaping, with cantilevered concrete frames and cascading planting intended to soften the built form. BDA described the design as aiming to create “a memorable sculptural mid-rise mixed-use building” that responds to both its coastal setting and urban context.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-06-11%20at%209.55.45%20am.png?VersionId=cpjIVBqcT_sujmo2UMWkVyLcQ7WGJHaQ" />

The approval comes as the City of Gold Coast continues to plan for significant population growth, with regional targets requiring more than 100,000 new high-density dwellings by 2046.

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Big Projects, led by Matthew and John Barrett, is part of a growing cohort of developers that deliver construction in-house, providing a high level of confidence to prospective purchasers.
</section>

[smartcode_project_cta:default project_id=150260]

Big Projects secures approval for Glenelg Residences in Mermaid Beach

Sherpa Group is ramping up its investment in the southern Gold Coast by lodging a development application for <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, a new $350 million project in Coolangatta.

The move comes after the group’s $27 million acquisition of the 2,029 sqm site on the corner of Griffith and Warner Street, last year.

They will develop 194 apartments across a 26-storey tower, which will become Sherpa’s largest project to date.

Viveré will be the next chapter in the Flourish story, following closely behind Amargo, Oasis, and the Avenues in Palm Beach, as well as Symphony in Brisbane, all designed to deliver affordable housing in lifestyle-rich locations, giving locals a real chance to secure a residence close to the beachfront.

The HAL Architect-designed project will offer a diverse range of residences, from one-, two, and three- bedroom apartments to the premium Canopy range to luxury penthouses.

<img alt="Vivere" data-entity-type="file" data-entity-uuid="c85f5a7e-a22f-4745-8def-400adb3c0b35" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.43%E2%80%AFAM.png?VersionId=OY.chur3BPExn1exQ2q8clHqWnW_CaBi" />

“The Gold Coast is undergoing a period of immense growth, with more people drawn to the incredible 
lifestyle that’s available, leading to strong growth in property prices,” said Christie Leet, founder of Sherpa 
Group.

“Our goal at Sherpa is to ensure locals are not priced out of the market in prime locations, which is why we 
created the Flourish collection.

“Flourish Vivere will form the next chapter in our portfolio, and we are so excited to be lodging the DA, marking our first project in Coolangatta.”

A signature of the Flourish developments is the communal rooftop. Flourish Vivere will showcase a private resident’s lounge, outdoor dining with barbecues and pizza ovens, heated pool, fully-equipped gym, and a wellness centre with sauna and steam room.

<img alt="Vivere" data-entity-type="file" data-entity-uuid="c09372cc-aae6-4458-af2e-f291bd19a5e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.49%E2%80%AFAM.png?VersionId=Sc_RLXl5jiff.tnadogXjQJ_WIpDjf3p" />

The project is strategically located to offer a walkable lifestyle, with the Strand shopping centre, cafes, restaurants, shops and the beach, all just a short stroll away.

“We have meticulously planned Vivere to build on the Flourish legacy, creating a truly special project,”&nbsp;Leet added.

“Wellness, lifestyle and community are at the forefront of every decision we make, and that has not 
changed for Vivere.”

With the DA now lodged with the Gold Coast City Council, Sherpa has moved quickly to secure LPS Group as the builder, offering buyers a level of certainty that is rarely seen in today’s market.

Sherpa has delivered 16 residential projects over the past seven years with a pipeline of $1 billion, with more under construction.

Sherpa takes Flourish brand to Coolangatta, lays plans for Flourish Vivere 

S&amp;S Projects is boosting its investment at Rainbow Bay to more than $1 billion after the prolific Gold Coast developer acquired a new site for $20.25 million and immediately laid plans for a new luxury apartment project in the sought-after precinct.

The site, which is the company’s fifth acquisition at Rainbow Bay in the past four years, will be home to the company’s largest project to date after delivering 3 sold-out projects and construction progresses on Radia worth a combined $215m. 
S&amp;S Projects is currently finalising plans for its latest strategic acquisition, a 1,518 sqm site located 209-213 Boundary Street in Coolangatta, with a development application expected to be lodged within weeks.

The luxury residential development will build on the company’s highly successful projects at Rainbow Bay, comprising Flow, Awaken, Esprit and Radia, with Radia currently under construction by Hutchinson Builders.

“We have been unflinching in our commitment to Rainbow Bay and the transformation we have helped drive in this incredible part of the Gold Coast, which is among the city’s most desirable residential locations,” said S&amp;S Projects founder and director Paul Gedoun.

“Our fifth project will reflect the best of what we have done so far to create a lifestyle precinct that is second to none.”

The latest development, which has yet to be named, is proposed to accommodate 88 luxury apartments in a design that will immerse residents in a unique wellness lifestyle that expands on the legacy of S&amp;S Project’s earlier developments at Rainbow Bay.

The development will feature an expansive rooftop garden and wellness centre with a resort- style pool, among a host of lifestyle amenities planned for residents.

“Rainbow Bay, with its beautiful, protected beach and alongside one of the world’s best surf breaks at Snapper Rocks, is the natural wellness heartland of the Gold Coast,” said Gedoun.

“We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden.”

The latest acquisition comes as S&amp;S Projects is at the completion of Esprit and construction continues on Radia, which are part of their significant portfolio undertaken by the company at Rainbow Bay since 2022.

The $215 million Radia, which comprises 38 apartments, is currently the flagship development by S&amp;S Projects at Rainbow Bay which is expected to be completed in 2027.

Jayde Pezet, of Pezet Matheson, which has managed sales and marketing for S&amp;S Projects across their Gold Coast portfolio, emphasised the developer’s commitment to continuous improvement and excellence.

“S&amp;S Projects continue to elevate the benchmark of luxury with each development," Pezet said.

“We have worked with S&amp;amp;S on their 4 other projects in Rainbow Bay and their approach reflects a team that is constantly learning, refining, and pushing the standard higher.

“Their hyper-local knowledge and deep expertise within the luxury property sector are what truly set them apart, allowing them to deliver projects that feel both globally sophisticated and authentically connected to their coastal environment”

S&amp;S Projects plans to officially launch its latest project at Rainbow Bay in the second half of this year.

“As we embark on our largest project yet, we have pulled out all stops to create another landmark development that truly reflects the relaxed southern Gold Coast lifestyle,” Gedoun added.

S&S buys $20m Rainbow Bay site for fifth beachside apartment project

Japandi, an emerging design trend that combines Scandinavian functionality with Japanese rustic minimalism, remains relatively untested in Australia’s residential development market.

As developers look to differentiate their projects and offer something distinct to buyers, Brisbane-based developer Lantona has embraced the hybrid style for its recently launched Toowong apartment project, <a href="https://www.apartments.com.au/new-apartments/koya-residences-6-josling-street-toowong-qld-4066">Koya Residences</a>, with early response to the design proving positive.

Lantona entrusted Red Door Architecture and interiors practice Luma Design Co with delivering the Japandi brief. The approach blends Japanese minimalism with Scandinavian functionality, emphasising warm, restrained interiors, natural materials and clean lines. Drawing on the Japanese concept of wabi-sabi (beauty in imperfection) and the Scandinavian principle of hygge (comfort and cosiness), it creates serene, uncluttered and sustainable living environments.

These design principles are expressed throughout the Josling Street development, both in its exterior form and across the 40 one-, two- and three-bedroom residences within.

[smartcode_project:default project_id=150787 project_image_fid=366229]

Koya reflects a deliberately scaled approach, with the five-storey form designed to align with the surrounding residential streetscape rather than dominate it.

“Koya is conceived as a building that sits comfortably within its surroundings. Every decision, from material selection to spatial planning, has been guided by long-term liveability and enduring relevance,” the developer said.

[smartcode_project:default project_id=150787 project_image_fid=366243]

Positioned within an established inner-west neighbourhood, the development sits near riverfront parklands and the Bicentennial Bikeway, while remaining within walking distance of Toowong Village and multiple public transport options connecting to the CBD, St Lucia and West End.

Lantona said the location was central to the project’s conception, pointing to Toowong’s balance of green space, transport access and proximity to major education institutions.

“<a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> combines river access, walkability, immediate CBD connection and a strong educational presence. That balance made it the obvious setting for Koya.”

[smartcode_project:default project_id=150787 project_image_fid=366230]

Communal amenity is concentrated on the rooftop, where a shared retreat will include a pool, dining areas and outdoor spaces oriented towards neighbourhood and city views. The design allows for both private use and small gatherings, extending the living environment beyond individual apartments.

Koya enters the market at a time when smaller-scale developments are becoming less common in established suburbs, with many recent projects in the suburb shooting for the sky.

In a nod of confidence,&nbsp;<a href="https://www.apartments.com.au/builders/brisbane-builders">Brisbane Builders</a>&nbsp;has already commenced construction on the building, which is slated for completion in early 2027. Keenan &amp; Byrne is marketing Koya.

[smartcode_project_cta:default project_id=150787]

Japandi-inspired Koya Residences launch in Toowong

Residential Auctions

There are 2,125 auctions scheduled to take place across the combined capital cities this week, down slightly from last week when 2,168 auctions were held, according to CoreLogic data.

This time last year, a considerably higher 2,912 homes were taken to auction over the same week.

There are 884 Melbourne homes set to go under the hammer this week, a slight decrease on last week’s 909 auctions held, and around 40% below the levels seen last year.

There are currently 913 homes set for auction in Sydney over the week, rising on last week’s 886 auctions held, although lower than the 976 homes taken to auction one year ago.

Across the smaller auction markets, Perth is the only city set to see a rise in activity over the week with 21 auctions set to take place, with scheduled volumes lower in Adelaide (-11.7%), Brisbane (-21%), Canberra (-6.1%) and Tasmania (3 auctions).

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ee19662-2628-45a0-b523-75dbf2eadaa1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/b6aed8b9-5bc4-4c8b-89da-6ba547502947.png?VersionId=rcCDE_8P2ZCb4iPaZDxpozlat2LKEzdo" />

&nbsp;

Mosman took the lead in NSW auction volumes this weekend with 13 homes set to go under the auctioneers gavel, according to SQM Research.

One such property is <a href="https://www.realestate.com.au/sold/property-house-nsw-mosman-134802378" target="_blank">14 Dalton Road</a>, (pictured) which saw so much interest that it sold ahead of its scheduled December 5 auction.

The four bedroom, two bathroom abode sits on a 247 sqm plot.

It previously sold for $920,000 in 2009.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="4cdb3b79-8dca-4d66-b5a0-59a85ad1ae53" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/e09e2a49-f3a9-409d-a27a-e37339f7a55c.png?VersionId=gpbdRAmDSAX20TO0.ysDHBZyJO3TvbEx" />

Another example of the spread of auctions in Mosman is 1/28 Orlando Avenue.

The two bedroom, one bathroom apartment goes to auction without a price guide.

j.ballantyne1990-6AQqhLzZaK

Sydney takes baton back for first week of December auctions

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Melbourne was host to 894 auctions over the past week, overtaking Sydney as the busiest capital city for auctions.
The previous week saw 646 auctions held across Melbourne, while this time last year a higher 1,533 homes were taken to auction, according to CoreLogic.
Of the 756 results collected so far, 71.7 per cent were successful, down from last week’s preliminary clearance rate of 77.1 per cent, which revised down to 70 per cent at final figures. One year ago, 74.8 per cent of reported auctions were successful.
Melbourne had the nation’s cheapest weekend auction result when $195,000 was paid for the dated two bedroom townhouse at Melton South.
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<div>The Brad Teal Real Estate price guide had been $180,000 to $200,000 for 4/63-65 Staughton St, Melton South.</div>
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<div>The last sale in the complex of eight was $170,000 in 2016.</div>
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<div>There were 2,155 homes scheduled for auction across the nation's capital cities last weekend of spring, up from 1,803 over the previous week.</div>
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<div>Of the 1,763 results collected so far, 73.9 per cent have reported a successful result, slightly higher than last week’s preliminary auction clearance rate of 73.6 per cent, which revised down to 69.1 per cent at final figures.</div>
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<div>Over the same week last year, 3,206 homes were taken to auction and 73.6 per cent of reported results were successful.</div>
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In Sydney, 887 homes were taken to auction, compared to 805 over the previous week and 1,221 this time last year.
 The preliminary clearance rate came in at 76.9 per cent this week, increasing from the previous week’s preliminary clearance rate of 76.2 per cent, which revised down to 71.6 per cent at final figures. This time last year, 78.1 per cent of reported auctions were successful.
Across the smaller cities, Canberra recorded the highest preliminary clearance rate at 78.4 per cent, followed by Adelaide at 75 per cent.
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jchancellor-FAypfDUnLy

Melbourne regains crown as busiest auction capital

Lane Cove is Sydney's busiest auction suburb this weekend

Weekly auction volumes are set to rise across the combined capital cities, with a total of 1,851 homes scheduled to go under the hammer this week.

The scheduled number of auctions are not only expected to be higher than the 1,728 auctions last week, but the highest level reached since the week ending 19 April when 1,922 auctions were held.

Melbourne is set to host its busiest week for auctions since June, with 647 homes scheduled to go under the hammer. This is up 7% on last week’s volumes, although it’s almost half the volume of auctions seen over the same week last year (1,221).

Volumes are expected to remain steady across Sydney this week, with 840 homes scheduled for auction, unchanged from last week’s final count. One year ago, a higher 940 Sydney homes were auctioned over the same week.

Across the smaller cities, scheduled volumes are higher over the week in Adelaide (104), Brisbane (118), Canberra (119) and Tasmania (5), while Perth (18) has fewer scheduled auctions over the week.

Given the latest COVID lock down announcement in South Australia, it is likely a number of homes scheduled for auction across Adelaide this week will be withdrawn or postponed.

<img alt="Pictures" data-entity-type="file" data-entity-uuid="867259dc-22f4-4fe4-b6b4-74807a287083" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/download.png?VersionId=SeOhZN3ZVEZ3usjSFm7TcfOf56DgUr5F" />

An example of the busy auction week in Melbourne is 107/68-86 La Trobe Street in the CBD (pictured in title).

The two bedroom, one bathroom apartment comes with a $470,000 - $510,000 price guide.

<img alt="Melbourne Hosting" data-entity-type="file" data-entity-uuid="4943d764-231c-413d-b762-295ffcd4b62f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/download%20%281%29.png?VersionId=4uEMeiL4SP7DbVdSaHIFN_rHuqGSf.7D" />

&nbsp;

Another property up for auction in the Melbourne CBD this weekend is 53a/32 Queens Road.

The one bedroom, one bathroom unit has an auction guide of $430,000 - $460,000.

Melbourne hosting its busiest auction weekend since June

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There was a 60 percent clearance rate from the 103 reported weekend auction results in Melbourne.
With many homes selling prior and 39 properties withdrawn, agents in Melbourne had 124 scheduled auctions.
Auctions and inspections can be held only online.
There were 545 auctions on the same August weekend last year, according to Domain.
More than 520 properties were scheduled for auction in Sydney on Saturday, with agents securing a preliminary clearance rate of 65.9 per cent from 330 reported results.
There were 83 properties withdrawn from auction.
Pre-auction Friday night buyer competition saw a northern beaches property sell at $7.05 million.
It was a five-bedroom home at 3 Wood Street. 
<img src="https://www.urban.com.au/images/2020/8/14/CL%20AUG%2016.JPG" alt="">
There were 1,042 homes up for auction across the combined capital cities this week, down from 1,150 over the previous week and 1,228 this time last year.
Preliminary results show that of the 810 results collected so far, 64.3 per cent have recorded a successful result, down slightly from last week’s preliminary clearance rate of 65.9 per cent, which revised down to 58.4 per cent on final numbers. This time last year, the combined capital cities recorded a final clearance rate of 73.0 per cent.
The number of auctions held across Melbourne was averaging around 530 each week prior to the implementation of new restrictions. 
There were 668 homes scheduled for auction in Sydney this week, up from 640 over the previous week and 446 this time last year. Sydney hasn’t recorded this many auctions over a week since the first week of April.
Preliminary results show the city recorded a clearance rate of 67.8 per cent this week, slightly higher than last week’s preliminary result of 65.8 per cent, which later revised down to 58.8 per cent. This time last year, a final clearance rate of 76.2 per cent was recorded across the city.
Across the smaller cities, Canberra came in with the highest preliminary clearance rate over the week (75.9 per cent), followed by Adelaide (60.0 per cent).
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60 percent Melbourne clearance rate from 103 auctions

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This week, auction volumes are expected to remain somewhat steady on both a week-on week and year-on-year basis.
CoreLogic are currently tracking 1,190 auctions this week, while final results last week saw 1,154 auctions take place and one year ago 1,111 auctions were held.
In Melbourne, 275 homes are set to be auctioned this week, down on the 357 last week and the 500 last year.
There are 692 Sydney homes set to go under the hammer this week, increasing by over 20% on last week’s volumes (566) and almost double the number of auctions held over the same week last year (367).
Adelaide (46), Brisbane (109) and Canberra (51) all have a lower number of auctions scheduled over the week, while volumes are higher across Perth (17).
<img src="https://www.urban.com.au/images/2020/8/6/CL%20AUG%202.JPG" alt="">
Ray White Drummoyne’ Chris Wilkins is gearing up for a good result this weekend at the auction of 7 Burnell St, Drummoyne (pictured in title).
The newly built five bedroom Drummoyne mansion looks out towards Iron Cove and Rodd Island. 
“We have had 256 groups in just three weeks. There’s been massive interest from older families from across Sydney and we even have a couple of expat buyers looking to come home,” Mr Wilkins said.
<img src="https://f.datasrvr.com/f1/820/68483/Trafalgar_Ave,_Petersham.JPG" width="640" data-imagetype="External">
The two bedroom apartment at 4/347-349 Trafalgar St, Petersham (pictured above) is also set to fly on Saturday with Ray White NSW CEO Jason Andrew calling the auction.
The Petersham unit is being sold by Ray White Surry Hills | Alexandria | Glebe | Erskineville Associate Director Matthew Carvalho who has given out a price guide of $800,000 to $850,000.
“We’ve had a lot of interest in Petersham, it’s one of those popular inner west suburbs that is going through gentrification at the moment and attracting lots of young professionals and young families,” Carvalho said.
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Sydney auction volumes again leaping ahead of Melbourne's Stage 4 slump

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The number of homes scheduled for auction is expected to remain relatively steady week on week across the combined capital cities, with 1,209 auctions being tracked by CoreLogic this week.
Last week, 1,269 capital city properties were taken to auction, while one year ago a significantly lower 896 homes were auctioned over the same week.
In Melbourne, 503 properties are scheduled for auction this week, however it is likely that a high proportion of these will be withdrawn from the market as noted in last week’s final results with the city in its second round of stage 3 restrictions amid rising COVID19 cases.
Last week Melbourne returned a final clearance rate almost 10 percentage points lower over the week, with 51.2% of auctions clearing. There were 506 auctions scheduled across the city, with 475 results collected. 37% of results were reportedly withdrawn and of the 243 sold results, 51% sold prior to the scheduled auction date.
Activity across Sydney is set to remain somewhat steady over the week, with 553 homes to be auctioned, down only -2.3% on last week’s figures.
Across the smaller auction markets, scheduled volumes are expected to be lower across every city with the exception of Perth where volumes are unchanged over the week.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/16/CL%20JULY%2016%201.jpg" alt="">
Ray White, Australasia’s largest real estate group said a return to online auctions in Victoria and concerns for New South Wales are yet to severely dent clearance rates and auction volumes.
Last weekend, the Ray White Group booked a 61 per cent auction day clearance rate while this week the group has 261 auctions scheduled across the country.
In leading Sydney auction agency Ray White Surry Hills | Alexandria | Glebe | Erskineville there are 11 homes going under the hammer on Saturday.
Surry Hills agent Christopher Bedzo said after 115 groups through inspections at 39/21 Coulson St, Erskineville (pictured in title) he is expecting an exciting auction.
Also represented by Surry Hills Director Shaun Stoker, the two bedroom unit is part of the trendy Star Printery warehouse conversion complex.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/16/CL%20JULY%2016%203.jpg" alt="">
In Arncliffe, Ray White Rockdale agent Nicholas Economos is taking a four bedroom character home at 120 Forest Road (pictured above) to auction this Saturday. Mr Economos said he’s had some really strong interest in the home from a mixed range of buyers.
“There is a lot of potential for developers due to the land size and owner occupier families have been falling in love with the views across to Botany Bay and character features of the house,” Mr Economos said.
The auction will be called by Ray White NSW Chief Auctioneer Alex Pattaro and has a price guide of $1.5 million.
In the afternoon, Ray White Riverstone Principal Adam Iken is gearing up for a great result at 18 Ward St, Schofields which has attracted interest from across the board.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/16/CL%20JULY%2016%204.jpg" alt="">Victorians are now in their second week of stage three restrictions. But if last week’s 66.7 per cent clearance rate is anything to go by then there’s still plenty of confidence in the market.
Ray White Craigieburn had a cracker weekend last week, selling four of five homes under the hammer on Saturday.
This weekend, they have another five to sell through auction with Craigieburn agent and auctioneer Trish Orrico saying 2/65 Pender St, Preston (pictured above) is the one to watch.
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Melbourne auction's to see withdrawal spike as restrictions kick in again 

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The first week of winter is set to see 618 capital city homes taken to auction, down on the 856 auctions scheduled last week, according to CoreLogic data.
Due to the Queen’s birthday public holiday this Monday, all states and territories except Queensland and WA are welcoming a long weekend, which usually contributes to lower activity over this weekend each year.
There are 143 Melbourne homes scheduled for auction this week, down on the 261 held last week and lower than the 215 one year ago.
Sydney is expected to be the busiest auction market for the seventh consecutive week, with 377 scheduled auctions this week, down on the 452 held last week and higher than the 313 held last year.
Across the smaller cities, scheduled volumes are set to be lower across all cities except Canberra where activity is expected to remain steady.
<img src="https://www.urban.com.au/images/2020/6/4/CL%20MAY%2031%20Final.JPG" alt="">
The capital city final auction clearance rate came in at 61.3% last week, slightly lower than the week prior when 62.7% of properties sold at auction.
The lower clearance rate was across a higher volume of auctions with 856 held, up on the 612 held over the week prior.
Of the 738 results collected, 12% were withdrawn which was much lower than the 50% seen a few weeks ago.
37.2% of sold results this week reportedly sold prior to the scheduled auction date, well below the results from early April when more than 80% of successful auctions were sold before the event.
An example of the upcoming weekend auctions in Sydney, which has been the busiest auction market for yet another week, is 68 Richmond Avenue, St Ives (picture in title).
The five bedroom, three bathroom house, is set for auction with a price guide of $1,550,000 - $1,700,000. 
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Winter residential auction season to start off slow

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This week, 400 capital city homes were scheduled for auction, with preliminary results returning a 64.0 per cent clearance rate, according to CoreLogic data.
Volumes were down as last week saw 480 homes scheduled for auction and a final clearance rate of 59.9 per cent while one year ago, there were 930 homes taken to auction and a 55.2 per cent clearance rate.
It is important to interpret clearance rates with caution given auction volumes remain substantially lower than usual due to the ongoing health pandemic.
<a href="https://www.propertyobserver.com.au/images/2020/5/18/CL%20MAY%2018.JPG" target="_blank">Click here to enlarge</a>:
<img src="https://www.urban.com.au/images/2020/5/18/CL%20MAY%2018.JPG" alt="">
Sydney, one of Australia’s largest auction markets, returned a preliminary clearance rate of 73.4%, suggesting the relaxation in social distancing policies specific to housing are having an immediate and positive impact on home auctions, although the number of auctions remains well down on last year.
It saw 193 auctions scheduled this week compared to 2016 last week when Sydney saw a success rate of 66.3 per cent.
 
In Melbourne, 118 homes were scheduled to go under the hammer this week. So far 93 auctions have been reported, returning a preliminary success rate of 60.2 per cent.
The previous week saw a final clearance rate of 56.5 per cent across 163 auctions.
As mentioned over the previous week, with restrictions easing across many states and territories, we will likely see the number of homes taken to auction increase in the coming weeks.
The smaller auction markets saw little change with Canberra the busiest at 41 auctions followed by Brisbane with 28.
The highest confirmed residential auction sale in Sydney from yesterday was 68 Moruben Road, Mosman (pictured in title) which is reported to have sold for $7,500,000.
That five bedroom, four bathroom house sits on an 850 sqm block.
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Mid-May auction clearance rates rise while volumes shrink pre-COVID-19 winter hibernation

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The NSW property market will roll out the welcome mat from next weekend with agents and vendors able to hold traditional property inspections and on-site auctions after a six-week limited shutdown due to COVID-19.
Neighbours have been told not to stickybeak!
It starts from next weekend, May 9.
Coming into the last of autumn's listings, there were 269 auctions scheduled in Sydney this week, up slightly on last week's 192 homes, according to CoreLogic.
There were 539 on the same weekend last year, in the pre-election slowdown, and 795 on the first Saturday in May 2018.
Treasurer Dominic Perrottet and Minister for Health Brad Hazzard said the relaxing of restrictions was a sign of the ongoing success in limiting the spread of COVID-19, but warned there was no place for complacency, with community safety and social distancing to remain an ongoing priority.
Securing higher stamp duty will also help the state government coffers, industry observers noted. It is estimated there has been $1 billion lost to the budget bottom line.
The decision comes amid continued property listing website viewings.
REA executive director of economic research Cameron Kusher said search activity sat only nine per cent lower than its 2020 peak recorded in mid-February.
“Choosing a home is one of the biggest decisions anybody makes, and easing the restrictions to ensure people can more easily inspect, buy or rent a property is an important step for NSW,” Mr Perrottet said. 
 “The real estate industry has been adaptable in transitioning to online auctions, property inspections by appointment or online, and now as we make the move back to a more normal mode of operation we must ensure safety measures such as social distancing remain a key part of the process.”
Clearance rates fells into the 30s, a 15 year low during April.
The NSW move follows the recent relation of open house/auction rules last week in the Northern Territory relaxation of restrictions in Western Australia.
While in-room auctions and open homes are still not permitted in Queensland, some restrictions were been eased as of 1 May 2020 to allow private appointments for inspection, and iinspections with a maximum of six (6) people including the real estate agent inside the building at any one time, with no more than one person per 4 square metres.
Hazard said the new NSW measures were vital to ensure the safety of customers, property owners and real estate staff as a more traditional face-to-face way of inspections and auctions re-commenced.
“The community has done an outstanding job in limiting the spread of COVID-19 and we need to make sure we continue to exercise vigilance and care,” Mr Hazzard said.  
“Real estate agents should limit the number of people viewing a property and attending an auction, follow stringent cleaning and safety guidelines, ensure clients do not touch surfaces and always have hand sanitiser available.”
“If we want to keep as many people in jobs as possible and businesses in business it is important to follow the safety advice and not put others at risk,” Mr Perrottet said.
“If people are not genuinely in the market for a new home, now is not the time to be having a look through their neighbour’s house.”
On Saturday the NSW Treasurer Dominic Perrottet laid out a plan to scrap what he described as inefficient taxes, expressing w wish to abolish stamp duty and payroll tax in a bid to revive the state’s economy following the coronavirus pandemic.
Key health guidelines include: 
Ensure physical distancing of greater than 1.5m is maintained;
Promote good hygiene on premises and at auctions including hand sanitiser;
Use digital platforms where possible to discourage physical contact;
Keep detailed contact records of people attending open homes and auctions;
Ensure people with any symptoms of illness do not attend a property;
Manage the number of people entering small spaces;
Consider extended times for open house viewings and inspections;
Use outdoor venues for auctions wherever possible;
If auctions are held indoors, use large venues where physical distancing between household groups of one person per four square metres is possible.
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