<p>Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.</p>

<p>Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.</p>

<p>Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.</p>

<p>[smartcode_project:default project_id=112195 project_image_fid=372638]</p>

<p>The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;</p>

<p>Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.</p>

<p>Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.</p>

<p>[smartcode_project:default project_id=112195 project_image_fid=3286]</p>

<p>Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.</p>

<p>"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.</p>

<p>"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."</p>

<p>The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.</p>

<p>[smartcode_project_cta:default project_id=112195]</p>


Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

<p>Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.</p>

<p>Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.</p>

<p>The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.</p>

<p><a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.</p>

<p>The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.</p>

<p><img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" /></p>

<p>Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.</p>

<p>"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.</p>

<p>The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.</p>

<p>The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.</p>

<p>Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.</p>

<p>Bakir said the project had been designed to respond to that shift in buyer expectations.</p>

<p>"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.</p>

<p>Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.</p>

<p>Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.</p>

<p>Early site works are underway, with construction expected to commence later this year.</p>


Homecorp approved for Budds Beach apartment tower, Lýon Residences

<p>New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.</p>

<p>Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.</p>

<p>Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.</p>

<p>[smartcode_project:default project_id=28384 project_image_fid=3823]</p>

<p>Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.</p>

<p>The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.</p>

<p>"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.</p>

<p>"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."</p>

<p>[smartcode_project:default project_id=28384 project_image_fid=3826]</p>

<p>The rarity of the development hasn't been lost on prospective buyers, McSweeney says.</p>

<p>For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.</p>

<p>"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."</p>

<p>The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe></p>

<p>A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.</p>

<p>The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.</p>

<p>At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.</p>

<p>[smartcode_project:default project_id=28384 project_image_fid=372542]</p>

<p>The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.</p>

<p>Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.</p>

<p>Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.</p>

<p>"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."</p>

<p>Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.</p>

<p>[smartcode_project_cta:default project_id=28384]</p>


North-facing Swan River views drive demand at Rivière Residences in Applecross

<p>Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.</p>

<p>The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.</p>

<p>[smartcode_project:default project_id=143337 project_image_fid=374768]</p>

<p>McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.</p>

<p>"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.</p>

<p>"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."</p>

<p>[smartcode_project:default project_id=143337 project_image_fid=374767]</p>

<p>A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.</p>

<p>The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.</p>

<p>[smartcode_project:default project_id=143337 project_image_fid=374760]</p>

<p>Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.</p>

<p>Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.</p>

<p>"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."</p>

<p>Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.</p>

<p>[smartcode_project:default project_id=143337 project_image_fid=374761]</p>

<p>Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.</p>

<p>"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.</p>

<p>She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.</p>

<p>Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.</p>

<p>Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.</p>

<p>Construction is underway, with completion expected in the second half of 2027.</p>

<p>[smartcode_project_cta:default project_id=143337]</p>


More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

<p>Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.</p>

<p>The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.</p>

<p>"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.</p>

<p>"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”</p>

<p>He said the declaration reflected the rapid progress achieved since acquiring control of the site.</p>

<p>"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."</p>

<p>When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.</p>

<p>"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.</p>

<p>"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."</p>

<p>The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.</p>

<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a></em></p>

<p>The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.</p>

<p>Takada previously said the design was driven by a philosophy of integrating nature into the built environment.</p>

<p>"The concept for this development is born from our design approach to naturalising architecture," Takada said.</p>

<p>"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."</p>

<p>Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.</p>

<p>"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.</p>

<p>The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;</p>

<p>The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.</p>


Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

Residential Auctions

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<p>Reservoir in Victoria, one of the most consistently busy suburbs, has been joined by Surfers Paradise as the busiest auction markets this weekend, according to CoreLogic.</p>
<p>Each have 19 auctions scheduled.</p>
<p>Burwood and Point Cook are the next busiest suburbs with 14 auctions scheduled each.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/4/19/auctionsweekly.jpg" target="_blank">to enlarge.</a></p>
<p><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/2018/4/19/auctionsweekly.jpg" alt=""></p>
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<p><span>Overall activity is tracking lower this week than last.</span></p>
<p><span>In total there are 1,592 properties scheduled for auction, down from last week's 1,915 auctions held.</span></p>
<p><span>It's also lower than the total this time last year, which saw 1,751 auctions held across the capital city markets.</span></p>
<p>Of the 19 auctions in Surfers Paradise, arguably the most interesting is a <a href="https://www.realestate.com.au/property-apartment-qld-surfers+paradise-127949562" target="_blank">three bedroom apartment in the Chevron Renaissance Towers</a> on Ferny Avenue.</p>
<p>The 24th floor apartment traded for $590,000 in 2013 when there were $769,000 hopes.</p>
<p> </p>
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jrobinson-rf4aSBido9

Surfers Paradise joins Reservoir as busiest auction suburb

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<div>Melbourne was the only capital city to see an increase in the number of homes taken to weekend auction, as weakening clearance rates, along with school holidays, impact on April auction activity.</div>
<div> </div>
<div>
<div>Melbourne had a subdued 64 per cent success rate across 874 auctions, down from 68 per cent across 723 auctions last weekend. </div>
<div> </div>
<div>Melbourne's top sale was a renovation opportunity in Fitzroy North.</div>
<div> </div>
<div>The <a id="LPlnk524450" href="https://www.realestate.com.au/property-house-vic-fitzroy+north-127790186" target="_blank">25 McKean Street double fronted brick Victorian era offering</a> (top) fetched $3.84 million, contested by four bidders in the rain.</div>
<div> </div>
<div>Last sold around six decades ago, the home with a classic façade featured soaring ceilings, original cornices, architraves, rosettes and open fireplaces.</div>
<div> </div>
<div>Boasting three street frontages, with access also from Jamieson Street and Alfred Crescent, the home sits on a 600 sq m block.</div>
<div> </div>
<div>Domain advised the vendors inherited the home in the Edinburgh Gardens precinct after their elderly aunt passed away last year.  </div>
<div> </div>
<div>The weekend sale price was $220,000 above reserve with Jobe Watson, the former Essendon captain turned buyer’s advocate, the underbidder for his unsuccessful clients.</div>
<div>
<p>The four bedroom, one bathroom house which had $3.1 million to $3.4 million price guidance was instead sold to a young couple with a baby from Carlton North. </p>
</div>
<div>The former Essendon star secured his first buy for a client last month in his new role as a Melbourne real estate buyer’s agent.</div>
<div>
<p>It was when the Infolio Property Advisors director nabbed a two-bedroom Kensington house for interstate clients at $1.03 million.</p>
<p>Watson, whose passion for property saw him initially a client of Infolio, then did some work experience for the group.</p>
<p>He purchased equity in the company in 2016 and began as a buyer’s advocate after his 220-game AFL career came to an end last season.</p>
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<div>Canberra recorded the nation's highest preliminary clearance rate this week with a 74.3 per cent success rate from its 78 auctions.</div>
<div> </div>
<div>Prices ranged from $405,000 at Palmerston to $2.95 million at Red Hill.</div>
<div> </div>
<div>The <a id="LPlnk794066" href="https://www.realestate.com.au/sold/property-house-act-red+hill-127917522" target="_blank" rel="noopener noreferrer">131 Mugga Way, Red Hill home</a> was a five bedroom Gary Williamson-built home with courtyards on 1255 sq m sold through Luton Properties (below).</div>
<div> </div>
<div><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/2018/4/16/mugga.jpg" alt=""></div>
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<div>The official land value was $1,291,000.</div>
<div> </div>
<div>The national capital's clearance rate was next followed by Adelaide's 70.6 per cent.</div>
<div> </div>
<div>Prices in Adelaide ranged between $385,000 at Bowden and $1,005,000 at Semaphore.</div>
<div> </div>
<div>The Harcourt Williams sale at <a id="LPlnk656387" href="https://www.realestate.com.au/property-house-sa-bowden-127881982" target="_blank" rel="noopener noreferrer">121 Gibson St, Bowden</a> was a basic three bedroom 1900 cottage on 292 sqm.</div>
<div> </div>
<div>The Housing Safety Authority had declared the Bowden property to be substandard with a<span class="x_f"> </span>Housing Improvement Order on the property.</div>
<div> </div>
There were 1,890 homes taken to auction across the capital cities this week, with preliminary results showing a 64.5 per cent success rate, according to CoreLogic.</div>
<div> </div>
<div>Click here <a href="https://www.propertyobserver.com.au/images/2018/4/16/resultscorelogic.jpg" target="_blank">to enlarge.</a>
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<div><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/2018/4/16/resultscorelogic.jpg" alt=""></div>
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<div>By comparison, 1,839 auctions were held last week with a final clearance rate at 62.8 per cent.</div>
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<div>Over the same week last year, auction volumes were lower due to the 2017 Easter weekend.</div>
<p>Sydney had the top result around the capitals with a pre-auction sale in Killara at $5.7 million through McGrath agents Neo Wang and Glenn Curran (below).</p>
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<div>It last traded at $2.95 million in 2003. </div>
<div> </div>
<div><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/2018/4/16/killara.jpg" alt=""></div>
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<div> </div>
<div>The four-bedroom manor at <a id="LPlnk484501" href="https://www.realestate.com.au/sold/property-house-nsw-killara-127672690" target="_blank" rel="noopener noreferrer">28 Wattle Street</a> with sandstone and double-brick fac­ade sits in gardens designed by Peter Fudge, featured in his first book.</div>
<div> </div>
<div>The gardens come with pool with Moroccan-style mosaics and a sandstone pavilion.</div>
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<div>It was initial listed with $6 million hopes last last year.</div>
<div> </div>
<div>Sydney was host to 774 auctions this week, with preliminary results showing a 64.9 per cent success rate, up from 62.9 per cent across 795 auctions last week</div>
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<div> </div>
<div>Brisbane reported 45 per cent clearance of 56 scheduled auctions.</div>
<div> </div>
<div>Its cheapest result was $620,000 at Deception Bay, north of Brisbane.</div>
<div> </div>
<div>The single story home on 733 sqm at <a id="LPlnk293891" href="https://www.realestate.com.au/property-house-qld-deception+bay-127849170" target="_blank" rel="noopener noreferrer">91 Esplanade</a> was a waterfront reserve knockdown.</div>
<div> </div>
<div>It sold at $480,000 in 2003.</div>
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jchancellor-FAypfDUnLy

Fitzroy North and Killara top subdued weekend auction results

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<p>There are set to be nearly 3,700 capital city auctions this week, which is set to be the busiest week so far for auctions this year, according to CoreLogic.</p>
<p>The property data firm suggest the increased activity is traditionally seen over the week prior to Easter.</p>
<p>It's expected that the number of homes scheduled for auction this week will be higher than final figures from the pre-Easter week last year when a total of 3,517 auctions were held across the capital cities.</p>
<p>Apart from Tasmania, all capital cities have increased auction volume from last week.</p>
<p>Melbourne is expected to see a record number of auctions held this week, with 1,934 Melbourne homes scheduled to go under the hammer.</p>
<p>This is not only set to be the highest number of auctions this year, but the second busiest week on record ever for the city, with the possibility of surpassing the busiest week recorded (29th October 2017- 1,983 auctions) with volumes usually revising upward as final results are collected.</p>
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<p><span>Across Sydney, there are 1,255 homes scheduled to go to auction this week, increasing from the 1,093 held last week, however lower than the 1,436 auctions held over the pre-Easter week last year.</span></p>
<p><span><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/2018/3/22/AUCTIONWEEK.jpg" alt=""></span></p>
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<p><span>Adelaide, Brisbane, Canberra and Perth are all set to see a higher volume of auctions week-on-week and also higher than the pre-Easter week last year. </span></p>
<p><span>The busiest suburb is Melbourne's Reservoir, which has 39 residential dwellings for auction. </span></p>
<p><span>There's then a big gap to Richmond which is expected to have 31 properties go under the hammer.</span></p>
<p><span>Randwick has Sydney's largest volume with 26 properties.</span></p>
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Melbourne set for near record on busiest weekend auction of the year: CoreLogic

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<p>Australia's top weekend auction sale was on the waterfront at Birchgrove on Sydney Harbour. </p>
<p>The<a href="https://www.realestate.com.au/property-house-nsw-birchgrove-126924754" target="_blank"> grand 1900s residence</a> (above and below), Clevedon fetched $7,225,000 when the four bedroom Wharf Road offering with art nouveau finishes, was auctioned through Belle Property.</p>
<p>There were four registered bidders.</p>
<p>It sits on a 692sqm parcel taking in views including Balls Head and the Harbour Bridge. There was a self-contained boatshed along with a mooring for a 30ft vessel, with an application lodged to increase permission to 50ft.</p>
<p>It last sold in 1997 at $2.025 million.</p>
<p><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/2017/12/11/birch2.jpg" alt=""></p>
<p>Melbourne's Malvern was next priciest as $6.6 million was paid for <a href="https://www.realestate.com.au/sold/property-house-vic-malvern-126962542" target="_blank">6 Moorakyne Avenue</a> (bottom) at its Jellis Craig auction. It was an English-style family residence, renovated by Nicholas Day over a decade ago. It had sold at $3.6 million in 2006.</p>
<p>The nation's cheapest result was when $187,500 secured <a href="https://www.realestate.com.au/property-townhouse-qld-mount+warren+park-126917262" target="_blank" rel="noopener noreferrer">a three bedroom townhouse at Mount Warren Park</a>, near Brisbane's Logan. It was a mortgagee offering which had sold at $251,000 in 2009.</p>
<p>CoreLogic auction analyst Kevin Brogan noted that Geelong, Victoria's second largest city, posted the strongest clearance rate for any market, of 83 percent.</p>
<p>Geelong's sales included a <a href="https://www.realestate.com.au/sold/property-apartment-vic-geelong-126911098" target="_blank" rel="noopener noreferrer">two bedroom apartment</a> at $1.17 million overlooking Eastern Beach.</p>
<p>Capital city auction volumes remained high with 3,353 homes taken to auction over the week.</p>
<p><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/2017/12/12/corelogic4.jpg" alt=""></p>
<p>There was an overall preliminary clearance rate of 63.1 per cent, but it's likely to be lower after final results.</p>
<p>The final clearance rate for the prior week was 60.3 percent across the capitals, the lowest this year, ands the lowest reading since late 2015.</p>
<p>Melbourne's clearance rates have been tracking below 70 per cent across for five consecutive week, as volumes across the city have been consistently higher.</p>
<p><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/2017/12/11/malvern.jpg" alt=""></p>
<p>The weekend volumes in Melbourne reached their second highest level this year at 1,837 offerings.</p>
<p>Melbourne's weekend results included the history-making yachtsman Jesse Martin whose <a href="https://www.realestate.com.au/property-house-vic-emerald-126999874" target="_blank" rel="noopener noreferrer">Dandenong Ranges family home</a> sold post-auction.</p>
<p>Martin, who became the youngest person to circumnavigate the globe solo in 1999, expected $1.2 million to $1.32 million for the Emerald home.</p>
<p>But the modern main residence that incorporates the site’s original two bedroom 1800s cottage on the 4024 square metre property fetched $1.15 million, the Herald Sun noted. </p>
<p>One year ago there were 1,685 Melbourne auctions held, with a notably higher clearance rate (78.4 per cent). The Inner region of Melbourne had the highest number of auctions this week (304), with a preliminary clearance rate of 67.3 per cent.</p>
<p>The strongest Melbourne clearance rate was recorded across the North West region, where 74.4 per cent of the 182 auctions held sold. </p>
<p>Sydney’s clearance rates, which have tracked around the mid-high 50 per cent range over seven consecutive weeks, came in at 58.7 per cent across a total of 990 auctions held, increasing on last week’s final clearance rate of 56.2 per cent when 1,143 auctions were held.</p>
<p>Over the same week last year, 1,163 auctions were held across Sydney and a clearance rate of 73.7 per cent was recorded. Domain put the prior week's revised result at 52 percent.</p>
<p>Across the smaller markets, Canberra recorded the highest preliminary clearance rate this week, while Brisbane returned the lowest again.</p>
<p>In Canberra, 106 auctions were held this week, and of the 84 reported results, 66.7 per cent were successful. Last week, only 102 auctions were held and the clearance rate was a higher 71.6 per cent. This time last year, results were similar with 118 auctions held and a clearance rate of 60.8 per cent.</p>
<p>Canberra prices ranged up to <a href="https://www.propertyobserver.com.au/https://www.allhomes.com.au/ah/act/sale-residential/5-butler-place-campbell-canberra/1317459709911" target="_blank" rel="noopener noreferrer">$1.6 million at Campbell</a>.</p>
<p>There were 183 Brisbane homes taken to auction, with 131 results reported so far. The preliminary clearance rate for the city is 46.6 per cent, up from 42.8 per cent last week and higher than one year ago, when 43.5 per cent of the 206 properties taken to auction were successful. </p>
<p>Brisbane sales included <a href="https://www.realestate.com.au/property-house-qld-ascot-114528031" target="_blank" rel="noopener noreferrer">a $3.355 million newly built Queenslander in Ascot</a>. The block had sold at $1.3 million in 2014 before its construction.</p>
<p>The now demolished cottage featured in the Dwayne “The Rock” Johnson movie, San Andreas, The Courier Mail noted.</p>
<p>A total of 163 Adelaide homes were taken to auction this week, returning a preliminary clearance rate of 65 per cent across 120 results, up from 59.1 per cent last week when 144 auctions were held across the city.</p>
<p><span style="font-size: 12.16px;">Adelaide cheapest price was </span><a href="https://www.realestate.com.au/property-house-sa-highbury-127011518" target="_blank" rel="noopener noreferrer" style="font-size: 12.16px;">$349,000 at Highbury</a><span style="font-size: 12.16px;">, with views back to the city It had traded at $300,000 in 2007.</span></p>
<p>It was marketed as an opportunity to renovate the split level home or develop the 614 sqm land.</p>
<p>Perth’s clearance rate of 46.7 per cent across 62 auctions was up from the previous weekend, when 50 auctions were held and a clearance rate of 32.6 per cent was recorded. Over the same weekend last December, the clearance rate was 20 per cent from 76 auctions.</p>
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j.ballantyne1990-6AQqhLzZaK

Sydney's weekend auction clearance rate falling away fast into the very lows 50s

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<p>The Hunter, followed by Geelong are the hottest auction markets as the spring selling season comes to a close.</p>
<p>The Gold Coast and Blacktown are the weakest regions when it comes to auctions held on the November 25 weekend.</p>
<p><img src="https://www.urban.com.au/images/2017/11/27/CoreLogic%20Table%20Data.png" alt="" width="412" height="611"></p>
<p>One of the houses sold at the weekend auction was a three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-merewether-126920430" target="_blank">6 Dent Street, Merewether</a> (picture above) that was sold under the hammer for $1,450,000.</p>
<p>Overall, auction volumes increased week-on-week returning a preliminary clearance rate of 66.9 per cent.</p>
<p>There were 3,409 homes taken to auction across the combined capital cities this week, returning a preliminary auction clearance rate of 66.9 per cent, overtaking last week as the third busiest week for auctions so far this year.</p>
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jonathanchancellor-7SQnKwU6yx

The Hunter and Geelong remain spring 2017 auction powerhouses: CoreLogic 

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<div>All mainland capital city auction clearance rates have eased to below 70 percent under the weight of heightened spring listings coinciding with banking lending hesitancy.</div>
<div> </div>
<div>Melbourne still ranks as the strongest market, but at a 69.6 percent weekend success rate. The same time last year Melbourne's vendors were securing a 79 percent success rate under the hammer.</div>
<div> </div>
<div>A Toorak home was among the many passed in offerings around the country when bidding stopped at $12.2 million. They had wanted $14.5 million plus for <a href="https://www.realestate.com.au/property-house-vic-toorak-126766574" target="_blank" rel="noopener noreferrer">the 1930s bungalow on its 1700 sqm Russell Street parcel</a> which sold at $9.28 million in 2015.</div>
<div> </div>
<div>Another Toorak house was passed in on a $6.5 million vendor bid.</div>
<div> </div>
<div>Melbourne's top result was a $4.125 million sale in Canterbury, a Stonehaven designed and built split-level contemporary residence.</div>
<div> </div>
<div>The price guidance on <a href="https://www.realestate.com.au/sold/property-house-vic-canterbury-126754338" target="_blank" rel="noopener noreferrer">23 Maling Road</a> (picture above) had been $3.9 million to $4.29 million.</div>
<div> </div>
<div>Tasmania was the surprise performer.</div>
<div> </div>
<div>Tasmania's busy weekend saw seven auction results reported, returning a preliminary clearance rate of 85.7 per cent.</div>
<div> </div>
<div>A ground floor executive apartment at George Town in regional Tasmania fetched $3.125 million. It was <a href="https://www.realestate.com.au/property-apartment-tas-george+town-126586574" target="_blank" rel="noopener noreferrer">a three bedroom 175 sqm apartment</a> on the Tamar on the north coast of Tasmania.</div>
<div> </div>
<div>The results also included a <a href="https://www.realestate.com.au/sold/property-house-tas-west+moonah-126730774" target="_blank" rel="noopener noreferrer">three bedroom 1959 weatherboard house at West Moonah</a> which sold pre-auction at $261,000. It had last sold in 2000 at $67,500. </div>
<div> </div>
<div>CoreLogic advised it was the third busiest weekend for auctions so far this year returning a national preliminary clearance rate of 65.4 per cent across 3,335 auctions.</div>
<div> </div>
<div>There was a 62.8 per cent success rate across 2,907 auctions last week.</div>
<div> </div>
<div>"This time last year, 2,987 homes were taken to auction and a clearance rate of 74.4 per cent was recorded," CoreLogic auction analysts Kevin Brogan noted.</div>
<div> </div>
<div>The final clearance rate has remained below 65 per cent for the last four weeks.</div>
<div> </div>
<div>He noted one of the biggest contributors to the softer auction market conditions is Sydney, where the final clearance rate has remained below 60 per cent since the last week of October, while Melbourne has slipped below 70 per cent for the second week in a row.</div>
<div> </div>
<div>Melbourne was host to 1,717 auctions this week and a preliminary clearance rate of 69.6 per cent was recorded, making it the second busiest week for auctions in Melbourne this year.</div>
<div> </div>
<div>Last week saw the final clearance rate drop to 69.2 per cent across 1,296 auctions, the lowest clearance rate the city has seen since the beginning of July 2016.</div>
<div> </div>
<div>One year ago, 1,303 auctions were held across Melbourne and 79.4 per cent were successful.</div>
<div> </div>
<div>Its results included The Block winners Elyse Knowles and Josh Barker who sold their Coburg renovation project, just weeks after pocketing $547,000 winnings for their Elsternwick efforts.</div>
<div> </div>
<div>Stong bidding took <a href="https://www.realestate.com.au/property-house-vic-coburg-126699946" target="_blank" rel="noopener noreferrer">the Coburg sale price to $1.631 million</a> as four bidders fought for the offering. </div>
<div> </div>
<div>The price expectations for the renovated California-style bungalow sat between $1.35 million and $1.45 million.</div>
<div>
<br>It sold in original condition in 2014 for $600,000.</div>
<div> </div>
<div>Across Sydney, preliminary results show that 61.5 per cent of the 756 reported auctions sold this week.</div>
<div> </div>
<div>There were 1,035 properties taken to auction across the city, down from 1,102 last week when the final clearance rate was recorded at 58.5 per cent.</div>
<div> </div>
<div>Over the same week last year, 1,082 auctions were held and a clearance rate of 79.6 per cent was recorded.</div>
<div> </div>
<div>In Sydney a large Paddington offering was the weekend's big seller with six registered buyers seeking the six bedroom Harris Street offering that fetched $5.16 million.</div>
<div> </div>
<div>It was on the market for the first time in 60 years.</div>
<div> </div>
<div>
<a href="https://www.realestate.com.au/property-house-nsw-paddington-126720598" target="_blank" rel="noopener noreferrer">The 412sqm landholding</a> featuring a freestanding double-fronted main residence and a self-contained cottage with separate frontage had a R3 Zoning.</div>
<div> </div>
<div>The preliminary clearance rate in Brisbane rose to 49.6 per cent across 213 auctions this week, from 44.1 per cent across 209 auctions last week, while this time last year 262 auctions were held and a clearance rate of 45.2 per cent was recorded. </div>
<div> </div>
<div>Brisbane prices ranged from $344,000 at Margate to $1,415,000 at Milton.</div>
<div> </div>
<div>In Adelaide, a 66.3 per cent preliminary result was recorded this week across 146 auctions. Last week, 128 Adelaide auctions returned a clearance rate of 62 percent for the city, while at the same time last year, 137 homes were taken to auction, with 66 percent recording a successful result.</div>
<div> </div>
<div>Adelaide's top advised result to Domain was just $801,000 when a 1910 three bedroom house <a href="https://www.realestate.com.au/sold/property-house-sa-parkside-126828162" target="_blank" rel="noopener noreferrer">95 Kenilworth Rd, Parkside</a> was sold. It had sold at $613,000 in 2007.</div>
<div> </div>
<div>Adelaide had the cheapest sale across Australia when $199,000 secured 8 McCartney St, Morphett Vale.</div>
<div> </div>
<div>
<a href="https://www.realestate.com.au/property-house-sa-morphett+vale-126297354" target="_blank" rel="noopener noreferrer">The Morphett Vale brick veneer and tile residence</a> was marketed as having "been subjected to termite damage" compromising the integrity of the home.</div>
<div> </div>
<div>"The home offers the experienced builder or those looking to acquire the property at potentially less than land value an opportunity to capitalise on 560 sqm in a great location," the marketing advised.</div>
<div>"This property is not for the faint hearted," it added.</div>
<div> </div>
<div>It had been a $300 a week rental for many years, having last sold in 1994 for $83,500.</div>
<div> </div>
<div>Perth’s clearance rate of 60 per cent across 25 auction results is up from last week, when 40 auctions were held and a clearance rate of 50 per cent was recorded.</div>
<div> </div>
<div>Canberra was the second strongest weekend market.</div>
<div> </div>
<div>Across Canberra, 130 homes were taken to auction with a clearance rate of 67.6 per cent, down slightly from 69.7 per cent the previous weekend. </div>
<div> </div>
<div>Prices ranged from $427,500 at Theodore to $1.64 million at O'Connor.</div>
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Clearance rates sits below 70 percent in all mainland capitals

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<p>This weekend 1,140 auctions are anticipated across Melbourne, while next weekend a mere 1,000 auctions are tipped, according to the REIV.</p>
<p>However, both weekends are set to be smashed on the pre-Derby Day weekend of 28/29 October when 1,610 auctions are scheduled. That level is very close to the 2015 record weekend.</p>
<p>On Derby Day, just days before the 2017 Melbourne Cup weekend, it will be the calm after the storm - in Melbourne, agents have just the 180 auctions.</p>
<p>This week, CoreLogic is tracking just over 2,300 auctions across the combined capital cities, which is similar to last week when 2,318 auctions were held, but lower than this time last year, when 2,443 homes were taken to auction. </p>
<p>Across the two largest auction markets, Sydney and Melbourne, volumes are similar this week when compared to last week.</p>
<p>Melbourne is expecting 1,122 auctions to be held this week, compared to 1,119 last week, while Sydney is set to see 850 homes go up for auction, up from 818 last week.</p>
<p>Over the same week last year, Melbourne held 1,182 auctions, while there were 913 auctions in Sydney. </p>
<p>Melbourne is host to the busiest individual suburbs for auctions, with 18 auctions in Reservoir, followed by Epping (17) and Glen Waverley (16).</p>
<p>Bentleigh East, Richmond and St Kilda each have 15 auctions scheduled this week, according to CoreLogic.</p>
<p>Looking at the smaller auction markets, volumes will fall slightly in some cities. Adelaide has 84 auctions scheduled this week, down from 107 last week, while Canberra is set to hold 58 auctions, compared to 78 last week. </p>
<p>There are 151 auctions scheduled in Brisbane this week, similar to the 153 held last week across the city.</p>
<p>Perth is expecting 37 auctions this week, compared to 35 last week, while Tasmania is likely to see fewer auctions with 4 homes currently scheduled for auction, down from eight last week. </p>
<p><a href="https://www.propertyobserver.com.au/images/2017/10/12/CorelogicAuctionsWeek.png" target="_blank">Click to enlarge</a></p>
<p><img src="https://www.urban.com.au/images/2017/10/12/CorelogicAuctionsWeek.png" alt=""></p>
<p><a href="https://www.propertyobserver.com.au/images/2017/10/12/CorelogicAuctionsFinal.png" target="_blank">Click to enlarge</a></p>
<p><img src="https://www.urban.com.au/images/2017/10/12/CorelogicAuctionsFinal.png" alt=""></p>
<h2>Summary of Last Week’s results </h2>
<p>The final clearance rate across the combined capital cities continues to soften, with last week recording a final clearance rate of 64.4%, down from 66.3% over the previous week, making it the lowest clearance rate since January 2016.</p>
<p>There were 2,318 homes taken to auction last week, similar to this time last year (2,290), while over the previous week, just 969 auctions were held due to the public holiday long weekend in most states, along with the AFL and NRL Grand Finals. </p>
<p><a href="https://www.propertyobserver.com.au/images/2017/10/12/CorelogicAuctions.png" target="_blank">Click to enlarge</a></p>
<p> <img src="https://www.urban.com.au/images/2017/10/12/CorelogicAuctions.png" alt=""></p>
<p>Clearance rates across Melbourne and Sydney fell week-on-week, with Sydney recording a clearance rate of 61.3% across 818 auctions, down from 64.9% across 607 auctions the previous week, and lower than this time last year, when 79.8% of the 816 auctions were successful.</p>
<p>The last time Sydney has seen a clearance rate this low was late 2015/early 2016.</p>
<p>Melbourne recorded a clearance rate of 70.3% across 1,119 auctions last week, down from 87.0% across just 122 auctions the previous week, and 78.4% across 1,114 over the same week last year. </p>
<p>While clearance rates fell across the capital cities week-on-week, auctions volumes increased across all of the capital cities. </p>
<p>Looking at the non-capital city regions, the Hunter region was the most successful in terms of clearance rates with 76.9% of the 33 auctions recording a successful result, closely followed by Geelong, where a clearance rate of 76.7% was recorded across 54 auctions. </p>
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Melbourne racing toward 1600-plus Super Saturday as auction clearance rates softening

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<p>Melbourne was the only capital city to record a weekend auction success rate in the 70s, continuing its sparkling performance.</p>
<p>Melbourne vendors sold 72 percent of their listings, while clearance rates across Sydney remained below 70 per cent for the eleventh consecutive week.</p>
<p>Sydney did retain its ranking as the second strongest auction capital, according to CoreLogic.</p>
<p>Melbourne hosted 1,111 auctions, similar to the same time last year when there was a stronger 78.4 per cent cleared.</p>
<p>An art-deco Hawthorn house sold pre-auction for $3.22 million making it Melbourne’s most expensive weekend auction offering.</p>
<p>Located at <a href="https://www.realestate.com.au/sold/property-house-vic-hawthorn-126362366" target="_blank">9 Auburn Road</a> (pictured above), the 1938 home was marketed as one of “the most exquisite restorations to have hit the market.”</p>
<p>The property, last sold for $501,000 in 2001, features original features including black manganese bricks, terrazzo floors and curved textured walls.</p>
<p>The property was offered through the Whitefox agency. </p>
<p>Melbourne auction numbers will rise steadily over coming weekends until the Melbourne Cup long weekend. </p>
<p>A prize listing includes <a href="https://www.realestate.com.au/property-house-vic-hawthorn-126555554" target="_blank">an inner city vineyard on the Yarra River at Hawthorn</a> with $12 million to $13 million hopes through Scott Patterson at Kay &amp; Burton for November 1 auction.</p>
<p>The vineyard, just four kilometres from the Melbourne CBD, is the home of Coppin Grove Wines, a boutique family vineyard established in 1998, comprising 1000 Pinot Noir, Chardonnay and Nebbiolo vines.</p>
<p>The vineyard, the work of Michael Cohn and his wife Ann, supplies its signature Coppin Grove Sparkling to George Calombaris’s Hellenic Republic restaurants. </p>
<p>The Cohns completed a viticultural course at the University of Melbourne’s nearby Burnley Horticultural College.</p>
<p>Sydney had the nation's top weekend sale when a four bedroom Strathfield house sold for $5.1 million.</p>
<p>Located at <a href="https://www.realestate.com.au/property-house-nsw-strathfield-126313986">7 Torrington Road</a>, the two level brick house on 858 sqm is situated on Strathfield’s so-called Golden Mile.</p>
<p>Last sold in 1998 for $831,000, the property was offered through Strathfield Partners agents Vanessa Kim and Sunny Nguyen.</p>
<p>It was a tie for the nation's cheapest - between Brisbane and Melbourne. </p>
<p>A one bedroom Mentone apartment sold for $275,000 making it Melbourne’s cheapest weekend auction sale.</p>
<p>Located at <a href="https://www.realestate.com.au/sold/property-apartment-vic-mentone-126349266" target="_blank">10/56 Milan Street</a>, the property was marketed as a “shrewd investment opportunity, fantastic flip or perfect first-step on the property ladder.”</p>
<p>Built in 1970, the Regency Gardens offering last sold in 1987 for $52,200.</p>
<p>A two bedroom house at Kallangur sold for $275,000 making it Brisbane’s cheapest weekend auction sale.</p>
<p>Located at <a href="https://www.realestate.com.au/sold/property-house-qld-kallangur-126346738" target="_blank">45 Boardman Street</a>, the 607 sqm property with unrenovated older-style lowset brick home last sold in 2006 for $231,000.</p>
<p>The nation's preliminary auction volumes bounced higher after last week’s long weekend, according to CoreLogic’s latest report.</p>
<p>Auction activity across the combined capital cities increased after last week’s grand finals, school holidays and public holiday slowdown.</p>
<p>Around 2,286 homes were taken to auction, returning a preliminary national auction clearance rate of 68.1 per cent.</p>
<p>The national preliminary clearance was up from the 66.3 per cent of the long weekend. But it was lower than one year ago, when there was a 76.4 per cent clearance rate on similar volume.</p>
<p>Sydney’s preliminary clearance rate was 67.2 per cent across 591 auction results, according to Coreogic.</p>
<p>There were a total of 800 auctions held across Sydney.</p>
<p>Domain reported two Sydney regions that have typically led the charge at auctions – the northern beaches and the inner west – took an uncharacteristic downturns.</p>
<p>The inner west sat at 69.6 per cent while the northern beaches was well down on recent results with 67.4 per cent.</p>
<p>There were 149 Brisbane homes taken to auction on the weekend recording a preliminary auction clearance rate of 49.5 per cent, unchanged from final results last week.</p>
<p>The Brisbane result sat slightly lower than one year ago, when 53.5 per cent of the 157 properties taken to auction were successful.</p>
<p>A five bedroom house at Chapel Hill sold for $1.95 million making it Brisbane’s most expensive weekend auction sale.</p>
<p>Located at <a href="https://www.realestate.com.au/sold/property-house-qld-chapel+hill-126156922" target="_blank">68 Tristania Road</a>, the 2003 sqm property was marketed as “reminiscent of a charming country lane.”</p>
<p>It was built in 2013 after the block cost $1.55 million in 2011.</p>
<p>A total of 108 Adelaide homes were taken to auction, with a preliminary clearance rate of 65.3 per cent, down from 71.1 per cent last week when 40 auctions were held across the city.</p>
<p>It was lower than one year ago when 98 auctions were held and 75.3 per cent cleared.</p>
<p>A Norwood property sold for $2.44 million making it Adelaide’s most expensive weekend auction sale.</p>
<p>Located at <a href="https://www.realestate.com.au/sold/property-house-sa-norwood-126386946" target="_blank">25 William Street</a>, the 1560 sqm property has five one bedroom units.</p>
<p>It was marketed as an opportunity to develop a home or redevelop through Harris Real Estate agents Nick Baranikow and Kathryn Roberts.</p>
<p>There were 33 Perth auctions this week, with a preliminary clearance rate of 60 per cent.</p>
<p>Last week, 70 per cent of the 13 auctions held were successful.</p>
<p>Canberra’s preliminary auction clearance rate of 62.7 per cent this week is lower than last week, when the final auction clearance rate was 75.7 per cent and also lower than the 85 per cent recorded last year.</p>
<p>Canberra's sales ranged between a three bedroom Kaleen apartment for $385,000 at <a href="https://www.realestate.com.au/sold/property-house-act-kaleen-126408446" target="_blank">3/112 Baldwin Drive</a>, and a Crace house sold for $1.157 million.</p>
<p>Located at <a href="https://www.realestate.com.au/property-house-act-crace-126349522" target="_blank">30 Ivory Street</a>, the house on the 555 sqm property features four bedrooms and three designer bathrooms.</p>
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Hawthorn art deco tops weekend auction results

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<p>It's a new twist on the saying charity begins at home since increasingly the first home buyer auctions I attend on any given Saturday see young buyers there with the folks.</p>
<p>As their children endeavour to step onto the Sydney property ladder, the parents aren't turning up to just provide emotional support at these entry level auctions.</p>
<p>More often than not they have come along with the deposit cheque.</p>
<p>The bank of mum and dad is growing in importance - and will continue to do so.</p>
<p>For most recipients it will rank as their biggest financial windfall in life, that is aside from an inheritance many decades down the track. </p>
<p>Australian data on the emergence is lacking, but there's some interesting data from the UK where a Legal &amp; General report suggested parents are predicted to lend more than £6.5bn this year to help their children get on the property ladder.</p>
<p>Millennials are the biggest recipients, with around 80 percent of the £30,000 typical handout going to people under 30 in what they calculated amounted to around 25% of UK property transactions.</p>
<p>There's also data suggesting almost a third of second steppers rely on financial help from family to move up the property ladder, according to Lloyds Bank research.</p>
<p>“The intergenerational inequality that creates the demand for parental funding continues to widen – younger people today don’t have the same opportunities that the baby boomers," according to the report by Legal &amp; General.</p>
<p>Intergenerational inequality is overreach, but Generation Y have been accruing more debt at an earlier age than any of their predecessors.</p>
<p>With 40% of 18- to 35-year-olds having a <span class="gmail-il">study</span>-related HECS debt, this generation are already on the back foot before they begin their careers.</p>
<p>And the casualisation of our increasingly fleeting workplaces means younger people are mostly on smaller or less permanent incomes too.</p>
<p>Finding real banks to borrow from is accordingly harder, hence the role of soft target parents parents from middle-class and wealthy families or the grandparents. </p>
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<p>In most UK cases the funds are given as a gift (56%) or as an interest free loan (21%).  </p>
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<p>It is arguably better the funds come from families rather than government, and this largess overtime is going to come a bigger part of the solution to the problems of Sydney housing affordability. </p>
<p>It is already as researchers from RMIT and Curtin University for the Australian Housing and Urban Research Institute (AHURI) found that 25 to 45-year-olds who received a cash gift from baby boomer parents had home ownership rates 15 percentage points higher than their peers.</p>
<p>But I worry the generosity puts the parents at risk in their old age.</p>
<p>They might be giving away their chance of a stress free retirement.</p>
<p>Treasury secretary John Fraser noted last year the bank of mum of dad was "becoming more and more prevalent." </p>
<p>"It has impacts on superannuation," Mr Fraser warned.</p>
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Bank of mum and dad is growing in importance

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<p>The winter season and record June listings are impacting the Sydney auction market according to Domain's Andrew Wilson.</p>
<p>He said nearly 750 homes are set to go under the hammer this Saturday which although lower than last weekend’s 787 auctions it will be significantly higher than the 631 listed over the same weekend last year.</p>
<p>"Sydney’s strong inner west market will again host the most number of regional auctions this weekend with 130 listed," he said.</p>
<p>"The next highest is the south with 96 closely followed by the upper north shore 95, the city and east 88, the lower north 74, the west 54, the northern beaches  51, the south west 50, the north west 43, Canterbury Bankstown 35, the central coast 13 and the Blue Mountains with 2 auctions scheduled on Saturday.</p>
<p>"Mosman and Ashfield are the most popular suburbs in Sydney this weekend with 11 auctions each followed by St Ives and Earlwood each with 10, Epping , Cremorne and Castle Hill each with 9 and Marrickville and Maroubra with 8 auctions each listed on Saturday."</p>
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