Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

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.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

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;

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.

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.

[smartcode_project:default project_id=112195 project_image_fid=3286]

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.

"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.

"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."

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.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

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.

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.

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.

<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.

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.

<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" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"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.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

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.

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.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"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.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

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.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

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.

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.

[smartcode_project:default project_id=28384 project_image_fid=3823]

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.

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.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"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."

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.

<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>

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.

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.

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.

[smartcode_project:default project_id=28384 project_image_fid=372542]

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.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

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.

"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."

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.

[smartcode_project_cta:default project_id=28384]

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

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.

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.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"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."

[smartcode_project:default project_id=143337 project_image_fid=374767]

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.

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.

[smartcode_project:default project_id=143337 project_image_fid=374760]

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.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"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."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"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.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

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.

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.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

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

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.

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.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"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.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"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."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"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."

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.

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>

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.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"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."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

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;

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.

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

Residential Auctions

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Melbourne's North West secured a strong clearance rate of 78.2 percent from its 91 auctions over the weekend, according to CoreLogic.
The inner Melbourne region held over 200 auctions with a clearance rate of 67.6 percent.
 
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jonathanchancellor-7SQnKwU6yx

Melbourne's North West shines in damp weekend auction results

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According to CoreLogic, Ryde secured an 88 percent clearance rate at the weekend auctions.
Baulkham Hills and the Hawkesbury region only secured 50 percent of their 17 auctions.
North Sydney secured a strong 85.5 percent from their busy 113 auctions.
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Ryde rides high at 88% while Baulkham Hills stumbles in weekend auctions

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The weather failed to inflict much damage on the east coast residential sales success despite the hazardous first auction weekend of winter.
Sydney’s clearance rate rose from 73 percent last week to 76 per cent, according to the preliminary CoreLogic RP Data tally. The Domain data even suggested it bettered 80 percent.
Auction prices across Sydney ranged between $348,000 in Canley Vale and $5.7 million in Strathfield.
<a href="https://www.realestate.com.au/property-house-nsw-strathfield-122626106" target="_blank">It was a contemporary Strathfield home</a> with the most modern of fireplaces featured in the living room at 20 Llandilo Avenue, Strathfield.
There were four bidders - from among the 12 registered parties - after the opening $4.5 million offer at the auction by Strathfield Partners agent Hawre Ahmad.
The Sydney auctioneer Damien Cooley noted that while fewer attendees come to onsite auctions when the weather isn’t friendly, the percentage of serious bidders among the attendees actually increases.
"You know you have a keen buyer if they are turning up to your auction," Damien Cooley said on the turn in the weather. 
There was a similiar tick-up trend, with the reduced early winter offerings, in Brisbane where vendors fared well too despite rising flood waters.
Brisbane’s clearance rate rose from 41 percent last week to 55 percent.
Melbourne's success rate held steady at 71 percent with prices ranging between $240,000 in Braybrook and $5.1 million in East Melbourne.
Around 959 residential properties were taken to auction in Melbourne down on the 1,170 auctions in the prior week as the winter slowdown commences.
Lower winter market listings will become even more noticeable from the Queen’s Birthday holiday break. 
The winter property auction hibernation doesn't necessarily happen across all Sydney suburbs, according to CoreLogic RP Data statistics.
Since 2011 Sydney auction volumes have jumped over the three month winter season from around 5000 offerings to 11,000 listings.
The forthcoming federal election might distract some potential vendors but recent July auction volumes have been Sydney’s busiest on record.
Auction hibernation continues to happen more so in Sydney's higher-priced suburbs through winter as overseas vacations are popular with owners and agents alike.
Garden suburb vendors also tend to hold back too until spring.
"June and July usually see’s the average number of buyers taper off, and this was certainly evident in the first weekend of June," auctioneer Rocky Bartolotto said.
"Give the very wet day, it’s fair to say that any buyers at auctions were no doubt very serious about securing a property," he added.
He advised certain Sydney properties continued to attract high inspections usually matched with a higher number of registered buyers.
The average was four bidders, Bartolotto noted, down from six to seven buyers last June.
But the recent strong autumn sales period must ensure there are still plenty of committed buyers around as we head into winter, James Pratt, director of auction services at Raine &amp; Horne said.
Estate agent John McGrath also recently suggested that winter was not a bad time to sell.
"Actually, the opposite is usually true," he said especially as buyers with approved finance are typically only given six months to buy before they have to re-apply, so they don’t have time to take three months off over winter.
Some lenders are imposing tougher new borrowing conditions that reduce the amount property buyers qualify for as the six months comes up, according to Mortgage Choice, the listed broker.
Conditions used to assess a property loan are being tightened so that living expenses are increased, assessable incomes reduced and the maximum amount borrowed cut in some cases by more than 10 percent, the brokerage told Fairfax Media. 
It cited an example of a couple six months ago earning net income of about $116,000 could have qualified for a loan of about $1.1 million, according to Mortgage Choice analysis.
Under the new rules they would qualify for about $70,000 less, although during this period variable rates have been reduced by up to 25 basis points.
 
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jchancellor-FAypfDUnLy

Auction heat remains in Strathfield result despite winter's onset

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<h2>Domain has released a list of Sydney suburbs where there was a 100% success rate at auction last month.</h2>
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<h2>Suburbs with a 100 per cent clearance rate in May</h2>
<h2>Houses</h2>
– Alexandria – Artarmon – Croydon Park  – Croydon  – Warriewood  – Birrong  – Cammeray  – Killarney Heights  – Naremburn – North Bondi  – West Pymble 
<h2>Units</h2>
– Lane Cove  – Wollstonecraft – Rose Bay  – Maroubra  – Bondi Junction  – Alexandria  – Botany – Woolloomooloo  – Epping – Vaucluse
Source: Domain Group
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Sydney's strongest May auction suburbs: Domain

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<div class="moveable_w" data-element-id="particle_2590ab71-eeb6-4b41-8e05-3718f85d2b83" data-object-id="2590ab71-eeb6-4b41-8e05-3718f85d2b83" data-object-type="particle">
<div class="maintitle">
<div class="innertext" data-placeholder="">Domain has released a list of Melbourne suburbs where there was a 100% success rate at auction last month.</div>
<div class="innertext" data-placeholder=""> </div>
<div class="innertext" data-placeholder="">
<div class="moveable_w" data-element-id="particle_569b251e-7312-4873-a3e4-8ddcd779a315" data-object-id="569b251e-7312-4873-a3e4-8ddcd779a315" data-object-type="particle">
<div class="maintitle">
<div class="innertext" data-placeholder="">Suburbs with 100 % clearance rates (houses)</div>
</div>
</div>
<div class="moveable_w" data-element-id="table_28568331" data-object-id="f114a03c-6dd8-47a1-a708-c7834b2eff1c" data-object-type="chart">
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<div id="igc-subtable-28568331" class="igc-chart inner">
<div class="igc-table-container">
<table id="Chart_28568331" class="igc-table igc-table-align-center __dynamic __visible tablesorter tablesorter-default">
<colgroup>
<col>
<col>
<col>
</colgroup>
<thead><tr class="tablesorter-headerRow">
<th class="igc-table-header tablesorter-header tablesorter-headerUnSorted" scope="col" data-column="0">
<div class="tablesorter-header-inner">Suburb</div>
</th>
<th class="igc-table-header igc-table-dynamic-column tablesorter-header tablesorter-headerUnSorted" scope="col" data-column="1">
<div class="tablesorter-header-inner">Region</div>
</th>
<th class="igc-table-header igc-table-dynamic-column tablesorter-header tablesorter-headerUnSorted" scope="col" data-column="2">
<div class="tablesorter-header-inner">Auctions</div>
</th>
</tr></thead>
<tbody class="igc-table-body">
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Caulfield South</th>
<td class="igc-table-cell igc-table-dynamic-column">Inner South</td>
<td class="igc-table-cell igc-table-dynamic-column">23</td>
</tr>
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Yarraville</th>
<td class="igc-table-cell igc-table-dynamic-column">West</td>
<td class="igc-table-cell igc-table-dynamic-column">18</td>
</tr>
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Blackburn South</th>
<td class="igc-table-cell igc-table-dynamic-column">Outer East</td>
<td class="igc-table-cell igc-table-dynamic-column">10</td>
</tr>
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Moonee Ponds</th>
<td class="igc-table-cell igc-table-dynamic-column">West</td>
<td class="igc-table-cell igc-table-dynamic-column">10</td>
</tr>
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Windsor</th>
<td class="igc-table-cell igc-table-dynamic-column">Inner Urban</td>
<td class="igc-table-cell igc-table-dynamic-column">10</td>
</tr>
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Coburg North</th>
<td class="igc-table-cell igc-table-dynamic-column">North</td>
<td class="igc-table-cell igc-table-dynamic-column">9</td>
</tr>
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Fitzroy North</th>
<td class="igc-table-cell igc-table-dynamic-column">Inner Urban</td>
<td class="igc-table-cell igc-table-dynamic-column">9</td>
</tr>
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Elsternwick</th>
<td class="igc-table-cell igc-table-dynamic-column">Inner South</td>
<td class="igc-table-cell igc-table-dynamic-column">8</td>
</tr>
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Carlton North</th>
<td class="igc-table-cell igc-table-dynamic-column">Inner Urban</td>
<td class="igc-table-cell igc-table-dynamic-column">7</td>
</tr>
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Heathmont</th>
<td class="igc-table-cell igc-table-dynamic-column">Outer East</td>
<td class="igc-table-cell igc-table-dynamic-column">7</td>
</tr>
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Keilor</th>
<td class="igc-table-cell igc-table-dynamic-column">West</td>
<td class="igc-table-cell igc-table-dynamic-column">7</td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>
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<div class="bodytext">
<div class="innertext" data-placeholder=""> </div>
</div>
</div>
</div>
 
</div>
<div class="innertext" data-placeholder="">Suburbs with 100 % clearance rates (units) in May</div>
</div>
</div>
<div class="moveable_w" data-element-id="table_28568375" data-object-id="1c9ac09e-0e04-41cc-b07e-81cbd1300fce" data-object-type="chart">
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<div id="igc-subtable-28568375" class="igc-chart inner">
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<thead><tr class="tablesorter-headerRow">
<th class="igc-table-header tablesorter-header tablesorter-headerUnSorted" scope="col" data-column="0">
<div class="tablesorter-header-inner">Suburb</div>
</th>
<th class="igc-table-header igc-table-dynamic-column tablesorter-header tablesorter-headerUnSorted" scope="col" data-column="1">
<div class="tablesorter-header-inner">Region</div>
</th>
<th class="igc-table-header igc-table-dynamic-column tablesorter-header tablesorter-headerUnSorted" scope="col" data-column="2">
<div class="tablesorter-header-inner">Auctions</div>
</th>
</tr></thead>
<tbody class="igc-table-body">
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Brighton</th>
<td class="igc-table-cell igc-table-dynamic-column">Inner South</td>
<td class="igc-table-cell igc-table-dynamic-column">14</td>
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<th class="igc-table-header igc-table-header-left">Mentone</th>
<td class="igc-table-cell igc-table-dynamic-column">Inner South</td>
<td class="igc-table-cell igc-table-dynamic-column">7</td>
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<th class="igc-table-header igc-table-header-left">Keilor East</th>
<td class="igc-table-cell igc-table-dynamic-column">West</td>
<td class="igc-table-cell igc-table-dynamic-column">5</td>
</tr>
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<th class="igc-table-header igc-table-header-left">Forest Hill</th>
<td class="igc-table-cell igc-table-dynamic-column">Outer East</td>
<td class="igc-table-cell igc-table-dynamic-column">4</td>
</tr>
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<th class="igc-table-header igc-table-header-left">MacLeod</th>
<td class="igc-table-cell igc-table-dynamic-column">North East</td>
<td class="igc-table-cell igc-table-dynamic-column">4</td>
</tr>
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<th class="igc-table-header igc-table-header-left">Williamstown</th>
<td class="igc-table-cell igc-table-dynamic-column">West</td>
<td class="igc-table-cell igc-table-dynamic-column">4</td>
</tr>
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<th class="igc-table-header igc-table-header-left">Blackburn</th>
<td class="igc-table-cell igc-table-dynamic-column">Outer East</td>
<td class="igc-table-cell igc-table-dynamic-column">3</td>
</tr>
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<th class="igc-table-header igc-table-header-left">Chadstone</th>
<td class="igc-table-cell igc-table-dynamic-column">Outer East</td>
<td class="igc-table-cell igc-table-dynamic-column">3</td>
</tr>
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<th class="igc-table-header igc-table-header-left">Flemington</th>
<td class="igc-table-cell igc-table-dynamic-column">West</td>
<td class="igc-table-cell igc-table-dynamic-column">3</td>
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<th class="igc-table-header igc-table-header-left">Ivanhoe</th>
<td class="igc-table-cell igc-table-dynamic-column">North East</td>
<td class="igc-table-cell igc-table-dynamic-column">3</td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>
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Melbourne's best auction suburbs in May 2016: Domain

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A Millers Point property comprising eight one-bedroom apartments has sold at auction for $7.22 million, boosting the NSW government's efforts to provide social housing through the sale of heritage-listed properties.
The property at 85-87 Kent Street was sold on behalf of the Department of Family and Community Services, and takes the total amount raised from Millers Point sales to $189.95 million.
In February, a heritage-listed former aged care facility, Darling House at Millers Point fetched a record $7.7 million at auction.
Selling agent Richard Shalhoub of McGrath said the 85-87 Kent Street property was bought by a private investor.  
“This was a rare opportunity to purchase a block of 8 x 1 bedroom apartments in the Millers Point Precinct with the opportunity to upgrade the apartments for a healthy rental yield," said Shalhoub.
It is a three-storey 19th century terrace with an additional contemporary infill building erected in 2000.
The two buildings were internally altered to create one building and were sold as a block.
The property remains subject to a Conservation Management Plan, endorsed by the NSW Heritage Council, providing buyers with instructions on preserving and maintaining the heritage components of the property.
Conservation Management Plans endorsed by the NSW Heritage Council are included in contracts for sale for all heritage-listed properties in Millers Point. 
Proceeds from sales in the Millers Point precinct will fund 1,500 new social housing dwellings across the state, with 590 new fit-for-purpose social housing dwellings funded to date.
 
 
 
 
 
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Millers Point property fetches $7.22 million at auction

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The Westpac–Melbourne Institute Consumer Sentiment Index dipped 2.2 percent from 101.3 in Feb to 99.1 in March.
The softer read reflected weaker reads on ‘family finances vs a year ago’ and ‘time to buy a major item’ partially offset by improved expectations for the economy.
State divergences remain a strong theme across the survey detail with the ‘lukewarm’ national result reflecting a mix of much weaker reads across the ‘mining’ states and considerably stronger sentiment across the other major states.
Responses to additional questions on news recall showed lower recall on most topics compared to Dec – particularly news on ‘international conditions’ – with news assessed as less unfavourable as well though still predominantly negative overall.
Updates on the ‘wisest place for savings’ question show a sharp rise in risk aversion with a big drop in the proportion nominating ‘real estate’ and a corresponding rise in those favouring ‘deposits’ and ‘pay down debt’. The shift appears to stem from a combination of increased market volatility, unfavourable media coverage on property markets and potential changes to tax policy.
The mix resulted in a 20pt jump in the Westpac Risk Aversion Index to its highest level since Mar 2013.
CSI, our modified sentiment indicator that we favour as a guide to actual spending, posted a heavy 5.7 percent fall in Mar to be down 8 percent over Q1 as a whole. The Index suggests spending will lose momentum over the first half of 2016.
The sub-index on ‘time to buy a major item’ registered a sharp 6.6 percent fall in Mar to be 12pts below average. The Q4 national accounts suggest the pace of durables spending has already softened with the sub-index suggesting more subdued soft growth in early 2016.
The ‘time to buy a dwelling’ index increased 5.4 percent from 99.3 in Feb to 104.7 in Mar and continues to show signs of settling just above the 100 level. Assessments in NSW have improved from very weak levels.
The Westpac-Melbourne Institute Consumer House Price Expectations Index also rebounded 9.8 percent in Mar to be just 5pts below its 10yr average. 
Expectations continue to show increased volatility likely reflecting mixed actual conditions and uncertainty around the outlook for key policies affecting housing markets.
The Westpac-Melbourne Institute Unemployment Expectations Index edged up 1.3 percent in Mar, indicating a slightly poorer outlook for unemployment. The Index still points to an improvement in job loss fears compared to 2014 and most of 2015. However the tentative signs of a renewed deterioration in recent months bears watching closely. 
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As is often the case, ‘the devil was in the detail’ with the March Westpac–Melbourne Institute Consumer Sentiment survey.
On the surface, the headline Index was just a touch lower in the month, essentially holding in line with average readings over the last 6mths. Likewise, the Westpac–Melbourne Institute Unemployment Expectations Index also deteriorated only slightly.
The detail however shows a much richer pattern of strength and weakness, and a more nuanced account of the factors currently influencing the consumer mood.
The dip in sentiment was driven by a sharp fall in assessments of ‘family finances vs a year ago’, and accompanied by a sharp rise in risk aversion indicated by responses to additional questions on the ‘wisest place for savings’.
Although both moves may prove to be temporary, these components have had a major bearing on consumers’ spending and savings decisions in the past. Indeed, this aspect of the survey points to a softer near term demand environment, particularly when compared to what now looks to have been a strong finish to 2015.
The detail around housing showed a more positive but still mixed situation.
Views on ‘time to buy a dwelling’ and house price expectations both look to have pulled out of last year’s abrupt slide at levels that are soft but not so soft as to suggest a ‘hard landing’ is on the way.
The main qualifier here is around investor housing with the survey showing a sharp drop in the proportion of consumers nominating real estate as the ‘wisest place for savings’. One of the main drivers appears to be uncertainty around potential changes to policies affecting residential investment – something that looks set to remain a factor through to the Federal election.
On the labour market, the main mystery still concerns the disconnect between consumer views and improvements now clearly being shown across a wide range of market metrics. While these have shown a marginal softening in recent months, consumers never really bought into 2015’s improvement.
We have several ideas as to why that may be but these are yet to be confirmed. In the meantime, the anxious consumer view on jobs remains a clear restraint on demand. 
The consumer mood: bogged down
The Westpac-Melbourne Institute Index of Consumer Sentiment dipped 2.2 percent in Mar from 101.3 in Feb to 99.1. The Index is back to around its average reading over the last 6mths.
The index continues to hold on to most of the gains seen since last year’s leadership change – it surged 8.3 percent through Oct-Nov and has only slipped back 2.5 percent from that high although technically we are now slightly back in the region where pessimists outnumber optimists.
Financial markets have maintained significant volatility since the last survey while finishing the month on an encouraging high.
Responses to additional questions on ‘news recall’ indicate that consumers were generally less focussed on ‘international conditions’ than in Dec, recall on this topic falling from 20 percent to 15.5% in Mar, although perceptions remained highly unfavourable.
The highest levels of news recall were for items on ‘budget and taxation’ (37.1 percent) and ‘economic conditions’ (36.7 percent). Perceptions of both topics were less unfavourable in Mar than in Dec. Respondents registered low recall rates on news on ‘interest rates’, ‘employment’ and ‘inflation’ although again perceptions were significantly less unfavourable than in Dec. 
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Three of the five component indexes fell in Mar. Notably, the sub-index on ‘finances vs a year ago’ fell 8.2 percent. The RBA has singled out this component as providing a useful guide to actual spending. As such, it would be of some concern that, having failed to lift following last year’s leadership change, the sub-index is down 5.9%yr. That said, the prudent approach to the sharp move in March is to assess the degree to which it is sustained in coming months.
The ‘finances, next 12mths’ sub-index edged up 0.2 percent. Views on the economy were more mixed, the ‘economy, next 12mths’ sub-index up 8.2 percent, the ‘economy, next 5yrs’ sub-index down 2.5 percent.
― The ‘time to buy a major item’ sub-index was on the weak side, falling 6.6 percent to be down 2.5 percent yr.
State divergences remain a strong theme across the survey detail. Indeed the ‘lukewarm’ results for sentiment overall are partly a matter of arithmetic: the ‘mining states’ account for 31% of consumers in Australia and while-ever sentiment across this group is stuck around 90 it’s difficult to generate a ‘strong’ national result. An index reading in the 110+ range, for example, would require sentiment reads in NSW and Vic to be pushing towards 120 or more. Viewed this way, middling consumer sentiment reads may be as good as it gets in 2016. 
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Sentiment indicators: housing
The ‘time to buy a dwelling’ index increased 5.4 percent from 99.3 in Feb to 104.7 in Mar. After a sharp fall in 2015 H2, the national index continues to show signs of settling at a level just above 100. That puts it well below the long run average of 129 but above the lows seen during previous housing market corrections – these have seen sub-100 readings with sub-80 readings in major downturns. 
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<div class="column">Notably, the state detail on ‘time to buy a dwelling’ shows buyer sentiment in NSW – the weakest state – is now 44 percent above its Sep low although it is still 19 percent below its level from a year ago.</div>
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<div class="column">Markets are now emerging from the summer hiatus. However, most data releases still relate to the Dec-Jan period and are hence less reliable guides to trends. The main exception is around auction market activity, which is reported weekly and provides more robust information, albeit heavily skewed to parts of the Syd &amp; Melb markets.</div>
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Auction clearance rates continue to show a firm start to 2016 compared to what was a very weak finish to 2015. Although underlying volumes are low (down 20% on Sep levels and –2.3%yr), both Syd and Melb clearance rates have been around 67-68% level, allowing for seasonal fluctuations. 
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Sentiment indicators: house prices
The Westpac-Melbourne Institute Consumer House Price Expectations Index rebounded 9.8% in Mar to be 16.6% above its Dec low but still 18.4% below its year ago level. At 120.9, the index is less than 5pts shy of its 10yr average.
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Just over 22 percent of consumers expect prices to decline in the year ahead, 33 percent expect no change, 38 percent expect gains of 0-10 percent and 6 percent expect 10%+ gains. State-wise, the main lift vs Feb was a more bullish view in NSW and a less pessimistic view in WA. That said, the state and sub-group detail continues to show volatile moves suggesting consumers may be struggling to get a firm handle on the price outlook. 
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This volatility may derive from the uncertain outlook for policies affecting investor activity and the uneven picture presented by various price measures. The most timely price gauge – the CoreLogic RP Data series – has shown clear signs of stabilising after a weak Q4 with prices likely to finish up close to 2 percent in Q1. Other less timely measures are still reflecting last year’s weakness but get equal coverage in the media. 
Viewing all the elements of housing sentiment by state – price expectations, buyer sentiment and investor sentiment – conditions overall appear weakest in Qld &amp; WA although by far the biggest deterioration vs a year ago is in NSW. 
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Volatility reflecting mixed conditions and uncertainty around policies affecting housing markets: Westpac-Melbourne Institute

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A six bedroom, four bathroom home in Bellevue Hill topped this weeks most expensive sales with $7.25 million, according to CoreLogic RP Data.
Sold through Ballard Properties Clint Ballard and James Ball, the home features a swimming pool, a home cinema and a wine cellar.
The second most expensive house was in Collaroy where Brendan Pomponio and Kirsten Bertram of Belle Property sold a five bedroom, four bathroom home for $5.65 million.
The designer sandstone and timber designer home belonged to Fairfax CFO David Housego and features an open fire place beside the swimming pool.
 
Top ten sales of the week
25 Suttie Road, Bellevue Hill, NSW: 6 bed, 4 bath, 4 car house - $7.25 million - Ballard Property Group Woollahra
14 Seaview Parade, Collaroy, NSW: 5 bed, 4 bath, 2 car house - $5.65 million - Belle Property Dee Why
7 Cheyne Walk, Castlecrag, NSW: 5 bed, 4 bath, 3 car house - $4.72 million - McGrath Estate Agents
1/6 Wulworra Avenue, Cremorne Point, NSW: 3 bed, 2 bath, 3 car unit - $4.06 million - McGrath Estate Agents
25a/171 Gloucester Street, The Rocks, NSW: 3 bed, 2 bath, 3 car unit - $3.75 million - Colliers International Sydney
32 Lower Almora Street, Mosman, NSW: 2 bed, 2 bath, 1 car house - $3.7 million - Belle Property Mosman
9 Oxley Avenue, St Ives, NSW: 5 bed, 4 bath, 2 car house - $3.37 million - Savills Cordeau Marshall St Ives
59 Station Street, Pymble, NSW: 5 bed, 3 bath, 2 car house - $3.2 million - LJ Hooker Wahroonga
27 Ruskin Rowe, Avalon Beach, NSW: 4 bed, 4 bath, 5 car house - $3.15 million - LJ Hooker Avalon Beach
8e/171 Gloucester Street, The Rocks, NSW: 3 bed, 3 bath, 2 car unit - $3.12 million - McGrath Estate Agents.
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jrobinson-rf4aSBido9

Fairfax CFO David Housego misses out on the most expensive sale of the week

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It was records galore at property auctions at the last weekend in Melbourne, in a spectacular near-finish to the 2015 auction year.
The 1,648 auctions held on Saturday broke the previous record for a single Saturday (1,626 auctions), set on October 25 last year.
Even for the week, it was a record, with 1,749 auctions held last week – 62 more than in the week ending October 26 last year.
And in a finish to the month that will take some beating, 5,669 auctions were held in November, 259 more than in the previous record month, November 2014, according to the REIV.
REIV CEO Enzo Raimondo said it was a remarkable year for Victoria’s property sector, with more homes going to auction than ever before: 39,380 across the state in the year to December 1, 5% more than the same period last year.
Raimondo said the high number of auctions really is creating strong options for buyers, with 1,560 due this Saturday.
“With the high number of auctions, the clearance rate is starting to moderate which offers buyers excellent opportunities to buy prior to year-­end,” he said.
“Melbourne property buyers really are spoiled for choice, with auctions in more than 350 suburbs in the next fortnight.”
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j.ballantyne1990-6AQqhLzZaK

Melbourne auction record smashed, another big weekend coming: REIV

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Auction clearance rates fell for the third consecutive week across the combined capital cities, down to 61.0% last week across a total of 2,288 reported auction results. 
This week 1,297 are scheduled across Sydney, with the 1,262 auctions are scheduled for Melbourne, accounting for over 80 per cent of all capital city auctions. 
Auction activity in Sydney has increased since this time last year, the latest CoreLogic RP Data figures show.
There are 1,297 auctions this week as opposed to 1,261 this time last year.
Brisbane, Canberra, Sydney, and Perth are all expecting fewer auctions than last week, while in Melbourne and Adelaide, the number of auctions this week relative to last week is higher. 
CoreLogic RP Data say Mosman is the busiest Sydney suburb with 18 auctions scheduled.
Last weekend the previously strong inner west in Sydney fell to its weakest auction clearance rate for some time, at 64%. The east, that had also been travelling above 80%, also fell, but only to the mid 70s. 
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