<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

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

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

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

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

Residential Auctions

<html><body>
A coastal Sydney residential apartment property at Dover Heights has been listed for auction.
Located at <a href="https://www.realestate.com.au/property-apartment-nsw-dover+heights-123963986" target="_blank">286 Military Road</a>, the 525 square metre property has two street frontages and houses nine blocks of apartments and five lock-up garages.
It has DA approval to create another two apartments from the two garages at street level.
It is marketed as a good investment for self-managed superannuation funds.
The block comprises of five one-bedroom apartments, three two-bedroom apartments and one three-bedroom apartment, as well as a residents’ laundry and garages.
The property features balconies and ocean views with each apartment having a large living area, gas kitchen, bathroom and good-sized bedrooms.
"Although the building is in good condition there is always the potential for refurbishment to obtain higher rental returns," agent Ric Serrao said.
The property is goes on auction on November 24 through Raine and Horne agents Ric Serrao and Patrick Cosgrove.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Coastal apartment block property at Dover Heights for auction

<html><body>
The final weekend of October had the clearance rate remain high across all the capital cities, recording above 70 percent for the 14th consecutive week.
There were 2,246 auctions held across the capital cities, with a preliminary auction clearance rate of 77 percent, slightly down decrease over last week’s final clearance rate of 78 percent across 2,680 auctions. 
But it was much higher than the corresponding week last year when there was a 61 percent success rate.
Sydney has been the proven spring stayer this year with its auction clearance rate remaining above 80 percent.
Three weeks ago there were four capitals in the picture, but they all dropped off a little. 
Prices ranged across the country from $246,500 in Adelaide to $5.65 million in Sydney, with two strong challenges from prestige Brisbane offerings.
The result comes days before the key Melbourne Cup day interest rate decision by the Reserve Bank of Australia. 
"The strong clearance rate continues to be supported by exceptionally strong auction market conditions in Sydney where the preliminary clearance rate was recorded at 84.4 percent across almost 1,100 auctions, while the preliminary clearance rate in Melbourne (78.6 percent), Canberra (71.1 percent) and Adelaide (75 percent) also tracked above 70 percent," Kevin Brogan said.
Across Sydney, 1,096 homes were taken to auction this week with a preliminary clearance rate of 84.4 percent across 906 reported results.
Last week, the final clearance rate for the city was 82.6 percent, across 897 auctions.
One year ago, 1,391 Sydney homes were taken to auction and the clearance rate was 60 percent. 
Clearance rates ranged fror 94 percent on the Northern Beaches to 67 percent in Parramatta. 
The most expensive house sold was a newly built six bedroom Strathfield home (above). 
The sale at <a href="https://www.realestate.com.au/property-house-nsw-strathfield-123713270" target="_blank">115 Homebush Road</a> for $5.65 million was $300,000 over reserve through agents Joseph and Sam Georges of Georges Ellis &amp; Co. They said prices were up about 30 per cent in the last year.
The 1120 sq m building block had cost $1.7 million in 2014.
Sydney's Paddington had its own dilapidated terrace story too. 
The <a href="https://www.realestate.com.au/property-terrace-nsw-paddington-123733818" target="_blank">45 Iris Street offering</a> sold for $1.19 million - $190,000 more than it was purchased for just eight months ago.
The uninhabitable two bedroom terrace had three bidders with it sold to an investor who will implement the recently obtained development approval.
<img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%209.29.45%20AM.png" alt="">
The terrace had been the home of the late artist Christina Coombes who had bought it in 1965 for £3200.
The distraction of the Spring Racing Carnival saw Melbourne listings down - and the preliminary clearance rate dipped from 80 percent to 78 per cent, though remaining well above the 65 percent clearance rate for the city one year ago.
Melbourne hosted around 629 auctions, lower than the 1,377 held last week and consistent with the same period last year.
The strongest performer was the North West region with a 91 percent of success rate. 
The top sale at Hawthorn was a 1000 sq m offering on the Lisson Grove estate which since the 1870s had been regarded as one Hawthorn's most fashionable avenues given the lovely Victorian homes set in large gardens.
Number 65 was one of four single storey villas built between 1884 and 1886 featuring a symmetrical façade with double bay windows.
"We have five young families bidding" Duane Wolowiec said.  
"There are strict heritage restoration conditions including the need to install slate roofing," he said.
Most buyers thought the restoration would cost at least $1.5 million, he added. Hawthorn's median house price currently sits at a record $1.85 million, according to CoreLogic.
There were 192 Brisbane homes taken to auction this week, with 114 results reported so far. The preliminary clearance rate for the city is 52 percent, up from 50 percent last week and also higher than one year ago, when 48 percent of the 188 properties taken to auction were successful.
Brisbane's top weekend result was $5.3 million in Paddington. 
<img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%209.31.51%20AM.png" alt="">
The tri-level 2009-built contemporary home at <a href="https://www.realestate.com.au/property-house-qld-paddington-123651270" target="_blank">171 Fernberg Rd</a> (above) sold to a Toowong family.
There was also the $5.25 million sale of the former six decade long home of the late Sir John Pidgeon, a respected leader in the construction and property industry. 
The home at <a href="https://www.realestate.com.au/property-house-qld-holland+park-123667174" target="_blank">14 Otway St, Holland Park</a> (below) on 5275 sq m was purchased for $5.225 million by a local buyer. 
<img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%209.32.52%20AM.png" alt="">
Sir John passed away in June.
The auction, through Dixon Family Estate Agents, attracted 36 registered buyers, according to the Courier Mail.
The living room fireplace is an authentic George III white marble inlaid chimney piece, the jamb centred with a relief of Diana and her Hound. 
Adelaide recorded a clearance rate of 75 percent across 166 auctions this week, up from 71 percent across 100 auctions last week. At the same time last year, 148 homes were taken to auction, with 57 percent recording a successful result.
Adelaide had the nation's cheapest sale at $246,500 in Elizabeth. 
<img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%209.34.07%20AM.png" alt="">
The mid-1960s <a href="https://www.realestate.com.au/property-house-sa-elizabeth-123810514" target="_blank">three bedroom brick home</a> (above) had been listed with $210,000 hopes, having last sold for $92,500 in 2002.
Canberra’s preliminary auction clearance rate of 71 percent this week matched the 71 percent recorded last year. 
Perth and Hobart were the capitals with lower clearance rates than one year ago. 
</body></html>

jchancellor-FAypfDUnLy

Sydney the proven spring auction stayer

<html><body><div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
GUEST OBSERVER
There is significant local debate about how much the Australian housing market is cooling.
Various indicators are showing different trends. A prominent hedonic house price measure is showing stronger growth than the broad collection of housing price indicators. Auction clearance rates have also been high, suggesting price strength. 
At the same time, new housing loan approvals are below their 2015 peaks, housing credit growth has slowed and housing turnover has fallen. We see the collection of evidence supporting the idea that the housing market has cooled (and so does the RBA). This is welcome, after an extended period of strong housing price growth in Sydney and Melbourne.
Our central view has the RBA on hold from here. If the housing market proves to be more resilient than we expect, this would further bolster that view.
<a href="/images/2016/09/27/Screen%20Shot%202016-09-27%20at%207.54.17%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/27/Screen%20Shot%202016-09-27%20at%207.54.17%20AM.png" alt="">
Australia has a collection of housing price indicators. These indices take different approaches to dealing with the key measurement challenge, which is that there is significant variation in the sorts of houses that are sold month to month. For example, if a lot of large, well-located and expensive houses are sold in one month and smaller, less well-located, cheap houses are sold another, this can have a big effect on the raw median price measures.
In this case, housing price growth would appear to slow, but this would not be a true picture of the change in price of the overall housing stock. Instead, it would be a reflection of the compositional changes in what was being sold month to month.
The four main measures tracked in Australia that seek to control for these compositional effects are a hedonic measure (Corelogic), a stratified median measure (APM), a repeat-sales measure (Residex) and the official ABS measure, which also uses a stratification approach.
Hedonic measures control for compositional shifts in turnover by accounting for things like number of bedrooms, block size and location, amongst other characteristics. The stratified approach groups houses into ten different price level boxes and then averages the medians from each box to produce an overall measure. The repeat-sales method controls for quality by tracking the same houses through time.
<a href="/images/2016/09/27/Screen%20Shot%202016-09-27%20at%207.56.58%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/27/Screen%20Shot%202016-09-27%20at%207.56.58%20AM.png" alt="">
At the moment, the various measures are showing y-o-y growth in national housing prices of between 7 percent (Corelogic) and 3 percent (APM) (Charts 1 and 2). On a q-o-q basis, the gap is even larger, with the hedonic measures showing more strength recently. Keep in mind that the main debate is really only about whether the Sydney and Melbourne markets are cooling, as there has been little housing price growth in other cities in recent years (Chart 3).
The gap between the measures has led to some debate about which measure is closest to the truth. A challenge has been that the Corelogic measure, which is showing the strongest growth and has typically been the one most relied upon by the RBA in recent years, has recently had some methodological changes. As a result, the RBA has become less confident about the veracity of this measure, stating in its August official statement that 'strong increases reported by CoreLogic were overstated as a result of methodological changes'. 
<a href="/images/2016/09/27/Screen%20Shot%202016-09-27%20at%207.57.58%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/27/Screen%20Shot%202016-09-27%20at%207.57.58%20AM.png" alt="">
Digging a little deeper into the issue (to the extent that we can without the unit records), we find it interesting that the CoreLogic raw median, which does not adjust for compositional changes, has also shown much slower housing price growth in Sydney than the adjusted measure (Chart 4). The gap between the hedonic measure and the raw median is the largest it has ever been. The clear implication is that compositional shifts in turnover have been quite large recently.
One plausible explanation is that a greater amount of lower-priced housing has been turned over recently. This fits with the fact that a lot of newly built apartments have been coming to market and apartments tend to be lower-priced than detached houses. Apartment prices have also grown more slowly than detached dwelling prices more recently. Lower-priced detached houses are also the ones that are likely to see the biggest spill-over effect from the apartment supply boost, as they are typically a closer substitute to most apartments than higher-priced houses.
Another timely measure of housing market activity, auction clearance rates, has also been high in recent months (Chart 5). This may also be consistent with the gap in the housing price measures. Auctions are more prevalent for higher-priced homes and account for only 30% of housing sales in Melbourne, 20% in Sydney and far lower rates in the other capitals. Auction volumes have recently been lower than in recent years, suggesting fewer high-priced dwellings are being sold.
More sales of lower-priced dwellings would also be consistent with the fall in housing loan approvals and slowdown in housing credit growth, as access to credit is typically a more important factor for lower- priced housing (Chart 6). The tightening of lending standards since late 2014 has also applied most aggressively to loans to investors, which are more prevalent in the apartment market.
The bottom line is that the weight of evidence suggests that there has been some cooling in the housing market (for more details on why the market it is likely to have cooled, see: 'Downunder Digest: Australian housing is still set to cool', 21 June 2016). Compositional shifts in housing turnover are making it difficult to get a clear read on housing price growth, but, importantly, housing loan approvals and credit growth have slowed. For monetary policy, the slowdown in housing credit growth is particularly important. Housing price gains are far more worrisome when they are fuelled by credit. It is the leverage that matters most.
Our central case is that the RBA is unlikely to cut further, with this call grounded in our view that domestic inflation and wages growth is set to stabilise as the rebalancing act comes to its end (see 'Australia's low inflation: It's part of the rebalancing act', 13 July 2016). If housing price growth proves to be stronger than most of the measures show, or there is a re-acceleration of housing prices, loan approvals or credit growth, we see this as likely to bolster, rather than challenge, our case that the RBA is unlikely to cut further. 
<a href="https://www.about.hsbc.com.au/hsbc-in-australia/management-team" target="_blank">PAUL BLOXHAM</a> IS CHIEF ECONOMIST (AUSTRALIA AND NEW ZEALAND) FOR HSBC. 
</div>
</div>
</div>
</div></body></html>

How much is the housing market cooling? HSBC's Paul Bloxham

<html><body>
Sydney has a preliminary auction clearance rate of 80.0 percent across 604 reported results for the week ending September 11, according to CoreLogic.  
Across the Eastern region the preliminary clearance rate is 91.6 per cent, and the Central Coast sub-region at 58.3 percent.
<a href="/images/2016/09/12/Screen%20Shot%202016-09-12%20at%2011.40.20%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/12/Screen%20Shot%202016-09-12%20at%2011.40.20%20AM.png" alt="">
</body></html>

jonathanchancellor-7SQnKwU6yx

Sydney's Central Coast at 58.3 percent clearance rate: CoreLogic

<html><body>
Much of the weekend Melbourne action was bayside.
The top auction result was $6.5 million in Brighton when <a href="https://www.realestate.com.au/property-house-vic-brighton-123294222%20" target="_blank">204 Esplanade</a> (above) was sold as a likely development site.
The four bedroom brick 1980s house that last traded in the 1970s sits on 1234 sqm near the sea baths.
Agent Kyle Charlton was suggesting one of very few undeveloped home sites left on the ‍Esplanade would fetch $5 million to $5.5 million.
The weekend's cheapest result across the nation was also in Melbourne at $194,000 in St Kilda.
It was a 1960s studio apartment - just 25 sq m - that had previously traded at $123,000 in 2006.
<img src="/images/2016/09/12/700_st_kilda.jpg" alt="">
The <a href="https://www.realestate.com.au/property-apartment-vic-st+kilda-123377994" target="_blank">6/27 Waterloo Crescent</a> (above) studio has been a $270 a week rental.
There was also significant interest in the nearby 1880s home offering at <a href="https://www.realestate.com.au/property-house-vic-st+kilda-123371802" target="_blank">7 Robe Street, St Kilda</a> (below) which sold at $2.72 million through Marshall White’s Michael Paproth and Daniel McGuire who were expecting more than $2.2 million.
<img src="/images/2016/09/12/500_robe.jpg" alt="">
The renovated, double storey three-bedroom plus study home last sold at $1.925 million in 2009 when sold by two-time Olympic Gold medallist Nick Green who paid $1.15 million in 2002.
The injured Western Bulldogs young gun midfielder Mitch Wallis secured $1.07 million post-auction for his weekend Port Melbourne apartment offering.
Wallis’s two-bedroom apartment at 1<a href="https://www.realestate.com.au/property-apartment-vic-port+melbourne-123348630" target="_blank">33/95 Rouse St, Port Melbourne</a> (below) passed in to an investor at $1.06 million with RT Edgar agent Gerald Betts negotiating a sale soon afterwards.
<img src="/images/2016/09/12/600_melb.jpg" alt="">
The 23-year-old AFL footballer - who bought his HM@S apartment five years ago for $900,000 - and his partner, nurse Emily Clemmens have purchased a house in nearby Albert Park.
CoreLogic's national preliminary auction clearance rate sat at 76 percent across the combined capital cities.
Some 2,026 total auctions were held across the capital cities, higher than last week, when 1,899 auctions were held, but remaining lower than one year ago at 2,654.
The clearance rate was down slightly from last week’s clearance rate of 77 percent, which was the highest clearance rate recorded for the year to date.
At the same time last year the clearance rate was 71 percent and in noticeable decline.
In Melbourne, a preliminary auction clearance rate of 78 percent was recorded, slightly lower than last week.
There were 978 auctions held across the city, up from 830 but lower than the 1,189 auctions held one year ago.
Across Sydney, 720 homes were taken to auction - with 550 on Saturday - with a preliminary clearance rate of 80 percent. It mirrored the 80 percent across 747 auctions.
"One year ago, 1,075 Sydney homes were taken to auction and the clearance rate was 73.1 percent," CoreLogic's Kevin Brogan said.
Brisbane was host to 148 auctions this week and its 55 percent success rate was up from 52.2 percent last week and higher than one year ago, when 50 percent of the 179 properties taken to auction were successful.
Domain had Brisbane prices ranging from $255,000 at Beenleigh to $2.125 million at Windsor.
Sales included a restored 1894 colonial house in Indooroopilly (below) which fetched $1.6 million with 16 registered bidders keen to secure 19 Jackson Street.
<img src="/images/2016/09/12/600_indoo.jpg" alt="">
It sold prior to its renovation at $745,000 in 2004.
Adelaide recorded a clearance rate of 76 percent across 88 auctions this week.
Across Canberra a total of 60 auctions were held this week, compared to 77 last week and 79 at the same time last year.
Canberra prices ranged from $357,000 in Holt to $2.98 million in Forrest.
Canberra’s preliminary clearance rate of 78 percent well up from 65 percent at the same time last year.
</body></html>

Bayside Melbourne full of weekend auction action

<html><body>
The number of auctions scheduled across the capital cities is virtually unchanged over the week, with CoreLogic currently tracking 1,895 residential auctions, just four fewer than last week.
The difference in weekly activity is more prominent on a city-by-city basis, with the number of auctions scheduled in Melbourne rising this week, from 830 last week to 915 this week, compared to a fall in Sydney auction volumes, from 747 last week to 672 this week.
Outside of Sydney and Melbourne, auction activity will remain steady across Brisbane (137) and Perth (27), while more auctions are expected in Adelaide this week (84), however less across Canberra (56).
Capital city auctions this week:
<ul>
<li>Sydney: 672</li>
<li>Melbourne: 915</li>
<li>Brisbane: 137</li>
<li>Adelaide: 84</li>
<li>Perth: 27</li>
<li>Canberra: 56</li>
</ul>
This week there are three individual suburbs across Australia where more than 15 auctions will be held and each is located in Melbourne. The busiest suburb is Reservoir, with 17 auctions, followed by Glen Waverley and St Kilda, each with 16 homes scheduled for auction.
 <img src="/images/2016/09/09/Screen%20Shot%202016-09-09%20at%202.47.09%20PM.png" alt="">
Last week, CoreLogic collected a total of 1,723 auction results across the capital cities, with a final auction clearance rate of 77.1 per cent, the highest clearance rate for the year to date, and the highest reading since June last year (77.3 per cent). Last week’s clearance rate of 77.1 per cent was moderately higher than the previous week (74.5 per cent). Last week, Melbourne, Canberra and Adelaide each recorded their highest year to date clearance rate.
Sydney’s clearance rate hit the 80 per cent mark last week, at 80.7 per cent, while Melbourne’s clearance rate came in just below, at 79.3 per cent, both representing week-on-week improvements for the cities. Across the individual sub-regions of the two major auction markets, the strongest clearance rate was across Sydney’s Eastern Suburbs (90.7 per cent) and Melbourne’s Mornington Peninsula (94.1 per cent).
<a href="/images/2016/09/09/Screen%20Shot%202016-09-09%20at%202.49.47%20PM.png" target="_blank">Click to enlarge</a>
 <img src="/images/2016/09/09/Screen%20Shot%202016-09-09%20at%202.49.47%20PM.png" alt="">
Outside of the capitals, the strongest performing regional markets last week, based on clearance rate, were Wollongong (76.7 percent) and Geelong (89.5 percent), however auction activity across these regions remains low.
 
 
</body></html>

Capital city auctions over the week to September 11 steady from previous week: CoreLogic National Auction Preview

<html><body>
A record price was set for a Surry Hills, inner Sydney warehouse at weekend auction when purchased by North Shore buyers.
It fetched $7.95 million some $400,000 higher than the $7.45 million prior top price.
The weekend buyer secured a 780-square-metre four-bedroom three-level warehouse in Bennett Place, a mid-19th century building that had undergone a transformation by designers Hare &amp; Klein (above).
The space came with a four-car garage, artist’s studio, plus plenty of open-plan living areas with lofty ceiling and industrial throwbacks. 
The Bennett Place warehouse previously held the suburb record the last two times it traded, for $5.71 million in 2012 and then $3.1 million in 2009. Not sure it was a record price when it was sold at $350,000 in 1991.
Artist Melinda Marshman and medico husband, David sold the warehouse which sits on the Marshall Street corner having bought it for $5.71 million in 2012 when bought from sculptor Gaby Porter.
The 1870 building, first recorded in Sands Directory as being a carriage and livery stable, has 760 square metres of floor space.
The earlier record stood since last year at $7.55 million, when Mark Ainsworth bought the nearby one with a distinctive heart-shaped pool.
It ranks among the more authentic of the warehouses of Surry Hills that once housed the city’s rag-trade industry. 
The $7.55 million sale last year secured a heart-shaped pool as the centrepiece of 450-square-metre converted warehouse once owned by Stuart Membery. 
</body></html>

Surry Hills warehouse among the weekend auction top sales

<html><body>
The nation's cheapest weekend result was in Adelaide where a two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-sa-st+kilda-122850590" target="_blank">2/12 Fooks Terrace</a>, St Kilda Beach, SA fetched $183,000 through Peter Migali at The Professionals Salisbury.
It fetched less than its 2010 sale price of $220,000 and its 2007 sale of $195,000. There were three bidders for the 2003 built apartment which is upstairs in the block of six next to the St Kilda Beach Hotel.
</body></html>

St Kilda Beach price heads backwards in weekend cheapest auction result

<html><body>
<div>
<div>
Anytime auctioneer Damien Cooley raised his gavel, more bids came until <a href="https://www.realestate.com.au/property-house-nsw-double+bay-122971786" target="_blank">27 South Avenue, Double Bay</a> finally fetched $3.17 million at weekend auction.
<div>
<div>
<div>
There were 10 third and final moments over the 12 minute onsite event.
But the humble home owned by late colourful, controversial Commonwealth Games chief Arthur Tunstall that last sold for £420 seventy years ago wasn't Sydney's highest.
That was over at Strathfield, the regular Saturday Sydney auction stadium, where a four-bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-strathfield-122804438" target="_blank">17 Firth Avenue</a> sold for $4.12 million through Georges Ellis and Co.
They had the 16 registered bidders with 55 rapid fire bids for the single storey home on its 1280 sqm block with pool offered for the first time offered in over 30 years.
</div>
</div>
</div>
The Sydney home auction market has continued to strengthen over recent weekends.
</div>
<div>Domain had the Sydney clearance rate at 75.4 per cent, which was higher than the election weekend’s initial 73.5 per cent result, though below the boom-time 80 per cent reported on the same weekend last year.</div>
</div>
<div>
Relatively low auction numbers continue to characterise the Sydney market, according to Domain Group's chief economist, Dr Andrew Wilson with strong competition among buyers.
Just 419 auctions were listed on Saturday, well below the 605 auctioned over the same weekend last year. 
<div>
Melbourne reported a preliminary clearance rate of 75.7 per cent on Saturday, which was the highest rate in nearly three months, below the 79.2 per cent reported over the same weekend last year.
Melbourne clearance rates are now trending upwards compared to the same time last year, Dr Wilson noted.
More than 530 Melbourne homes were listed for auction at the weekend, similar to the 559 auctioned over the same weekend last year.
Melbourne's consistently strong west suburban region reported the highest clearance rate at the weekend with 85.4 per cent and the highest number of sales at 76. 
</div>
The Sydney Central Coast reported the highest regional clearance rate with 83.3 per cent, followed by Canterbury Bankstown with 81.8 per cent, the lower north with 81.5 per cent.
Trailing the pack was the south west with 57.6 per cent and the Blue Mountains with a clearance rate of 50 per cent.
The Central Coast had Sydney's most affordable property when $280,000 was paid for a two-bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-wyong-122674530" target="_blank">1/61 Howarth Street, Wyong</a> through LJ Hooker Wyong. The 65 sqm unit, which was available recently at $280 a week, last sold at $140,000 in 1994.
Melbourne's most expensive property was a four-bedroom 1930s Elwood home, renovated in 2009, at <a href="https://www.realestate.com.au/property-house-vic-elwood-122896790" target="_blank">12 Glen Huntly Road</a>, which sold for $2,465,000 through Chisholm and Gamon.
The Californian bungalow had been listed with $2.2 million plus price guidance.
The most affordable Melbourne property was a one-bedroom unit at <a href="https://www.realestate.com.au/property-apartment-vic-brunswick-122878634" target="_blank">2/11 Aberdeen Street</a>, Brunswick, which sold for $271,000 through Ray White.
It last sold in 2006 at $169,000.
Sydney recorded a median auction price of $1,045,500, some 7.5 per cent higher than the $972,500 recorded over the same weekend last year. A total of $228.5 million was reported sold.
Melbourne recorded a median auction price of $650,000, which was 1 per cent lower than the $655,000 recorded over the same weekend last year. A total of $191.4 million was reported sold.
Dr Wilson said lower Sydney auction numbers will continue to characterise the market over coming weekends, with just over 300 auctions expected next weekend — around half the number auctioned over the same weekend last year.
But in Melbourne auction numbers, although typically lower during the winter, are set to remain "robust" for this time of the year with around 550 listings scheduled next weekend.
Dr Wilson said low and falling interest rates continued to support buyer and seller confidence with strong competition amongst banks for mortgage customers also driving housing demand.
"Although the Reserve Bank has decided to leave interest rates on hold over July at the record low 1.75 per cent, the odds have certainly narrowed for a cut sooner rather than later and perhaps as soon as next month.
"The June quarter inflation data due to be released by the Australian Bureau of Statistics on July 27 will provide a key determinant of future rate settings, with another low result likely to activate the Bank," Dr Wilson said.
CoreLogic advised some 1,365 capital city auctions were scheduled for the week, with a preliminary clearance rate of 72 per cent. At the same time last year, 1,704 capital city auctions were held with 74.9 per cent clearing.
The nation's cheapest weekend result was in Adelaide where a two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-sa-st+kilda-122850590" target="_blank">2/12 Fooks Terrace</a>, St Kilda Beach, SA fetched $183,000 through Peter Migali at The Professionals Salisbury.
It fetched less than its 2010 sale price of $220,000 and its 2007 sale of $195,000. There were three bidders for the 2003 built apartment which is upstairs in the block of six next to the St Kilda Beach Hotel.
</div>
</body></html>

16 registered bidders compete in Strathfield auction battle

<html><body>
Melbourne's preliminary auction clearance rate came in at 71.6 per cent for the week ending 3 July, according to CoreLogic.
The Inner South sub-region had a 100.0 percent clearance rate and South East sub-region came in at 86.4 percent.
<a href="/images/2016/07/04/Screen%20Shot%202016-07-04%20at%201.32.14%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/04/Screen%20Shot%202016-07-04%20at%201.32.14%20PM.png" alt="">
</body></html>

Residential Auctions

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Residential Auctions

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News