New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

Joel Robinson

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.

The project, to be known as Capella Residences Brisbane, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.

The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.

The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.

The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.

<img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" />

Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.

Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.

The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.

The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.

The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.

"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.

"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."

Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.

"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.

"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."

Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.

Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.

The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.

<img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" />

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.

"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.

"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.

"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."

<img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" />

Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.

The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.

"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.

"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

Residential Market

<html><body>
There’s a chasm-sized gap between perception and reality in Australian real estate.
A recent survey of consumers by MLC found there’s a widespread belief that homes are beyond the grasp of first-time buyers and that future generations won’t be able to afford to buy. That’s the common perception and it comes as no surprise, given that mainstream media keeps banging on about an affordability crisis, amid claims that the dream is dead.
The reality is quite different. As I wrote last week, the latest Affordability Index from the HIA has found that affordability nationally is the best it’s been in over five years and that some parts of Australia have the best level of affordability since 2003. Clearly, Sydney is an exception, although there was improvement in the March Quarter.
Reinforcing that point is the actual activity of first-time buyers. The latest NAB Quarterly Australian Residential Property Survey indicates that 33.5% of sales of new dwellings in the March Quarter were to first-time buyers.
That suggests first-time buyers are the dominant buying force in new properties, having a greater market share than owner-occupiers (other than first-home buyers), Australian investors and foreign investors.
In addition, the NAB survey finds that 26 percent of established dwellings were sold to first-time buyers – also a strong market share, though less than owner-occupiers (other than first-home buyers), who make up 43 percent of the market for established homes.
There’s a stark contrast there is the results of two surveys. The MLC survey found most people think young buyers are being priced out of the market and that 58% believe the next generation will be forced to rent all their lives. But the NAB survey found first-time buyers are out there in force and, in the new-home sector, are dominating the market.
Why so different? It’s because the NAB report was based on a survey of property professionals who are at the coalface daily and know what’s going on. The MLC survey was based on consumers, whose perceptions about what’s going on are influenced by media sound bytes.
Media reportage of real estate is overwhelmingly negative and that’s reflected in the MLC survey results – which are interesting but ultimately worthless because they contradict reality.
Generally, the NAB survey found that industry sentiment improved in the March Quarter, after having fallen for the previous three quarters.
Sentiment was strongest in Victoria. This makes sense, because while the Sydney boom is over, Melbourne still has momentum.
Expectations for price growth are strongest in Victoria. Melbourne and Brisbane are expected to be the best price performers in 2016, while Perth (also not surprising) has the weakest expectations for prices among the capital cities.
The findings for the apartment markets also make sense. Unit prices are expected to fall in Perth (because of a weak economy) and Melbourne (because of oversupply).
The survey found foreign buyers were less of a force in the market – and have switched their focus from NSW and Victoria to Queensland, where foreigners account for 20 percent of sales of new properties.
This reflects the ramping up of marketing of high-rise units in Brisbane and on the Gold Coast, two markets that smart investors will avoid.
 
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a> 
 
 
</body></html>

terryryder-YECXbqmri2

Sydney boom over, Melbourne has momentum and avoid Brisbane: Terry Ryder

<html><body>
Yes, I know everyone hates elections but the more I look at this election the more I like it simply because real estate is front and centre.
History will judge whether the government and opposition erred by allowing negative gearing into the debate, although what they have done is to finally open that can of worms which previously had been removed from all discussions.
When you take the time to contemplate the direction that property prices are headed (thanks mainly to all these new developments) there are plenty of dark clouds building. For mine; the smartest solution is to simply limit the number of investment properties to a single tax file number. Opinions vary that negative gearing is driving the values of property although investors account for just one third (approximately) of purchases, so that in itself can’t be the major contributor.
The problem why Australia’s property prices are so high sees the blame at failed political policies where prices have increased two to three times than that when the Baby Boomers were buying property – which by the way were single income families. Governments have failed miserably when it comes to infrastructure where we only ever hear of Very Fast Trains in an election year – come July 2, we in all probability won’t hear it mentioned for another three years.
Opinions when it comes to real estate are always interesting where today we see many property markets starting to ease and nobody comes out and states that this is actually a good thing. Many of Australia’s property markets are actually self-medicating and correcting which is great news given the damage a crash can cause. Naturally we should not also forget that property markets historically slow when an election is announced although many parts of Australia had already started to re-calibrate their prices downwards – we have passed the peak.
This week we saw that for the first time in seven years Australia was now recording deflation – which immediately called for the Reserve Bank of Australia (RBA) to cut the cash rate when they meet next week. Even if it were to cut the cash rate say – 0.25 you can rest assured that the banks won’t be passing this on.
I’ve been on the public record as being opposed to federal government policy in December 2008 when off – the – plan – purchases by foreigners were raised from 50 to 100 per cent – the governments have not addressed nor even discussed this. With interest I have noted that this month the ANZ, Commonwealth Bank and this week Westpac are no longer lending money to foreign buyers wanting to buy residential property in Australia.
The major lenders have already implemented black – spot areas where they will no longer finance new apartment developments. Interestingly nobody has even bothered to raise this with any politicians given this is a significant stance by the major lenders that relates directly to government policy. Now we can expect this to remain the case for quite a few years to come with Sydney and Melbourne embarking on massive new development construction – the major lenders have massive exposure here.
Now should the ALP be elected what does this do to their new policy regarding negative gearing? I can tell you what it will do to off – the – plan acquisitions (new property) – it will shut it down almost immediately. Investors are not permitted to buy existing properties, only new – despite 93 per cent of investors preferring to buy existing.
One would think that there should be much more debate about the repercussions to the economy with the major lenders now not lending to foreign buyers. Then of course one can’t rule out a significant price correction given these new developments are massively over valued due mainly to foreign buyers driving these prices. Investors aren’t going to be buying into these new developments for negative gearing purposes when they know full well that these properties are facing a significant value correction.
One only has to look at the body language of the major banks to see quite clearly they have already commenced direct action to minimise their exposure to this newly created property market.
The problem as I see it is that politicians are making some huge mistakes in judgement when it comes to our property markets but sadly nobody is asking them the right questions. A classic example of this the banks deciding to restrict all loans to foreign buyers which is in direct contradiction to the federal governments policy – which we all know is dumb. Even funnier is that the government did not bat an eyelid when the major lenders announced this policy review.
<h5>MOSMAN – 2088</h5>
Number of houses on the market this time last year – 61
Number of houses on the market last week – 43
Number of houses on the market this week – 45
Number of apartments on the market this time last year – 52
Number of apartments on the market last week – 50
Number of apartments on the market this week – 55
<h5>CREMORNE – 2090</h5>
Number of houses on the market this time last year – 1
Number of houses on the market last week – 7
Number of houses on the market this week – 9
Number of apartments on the market this time last year – 15
Number of apartments on the market last week – 26
Number of apartments on the market this week – 26
<h5>NEUTRAL BAY – 2089</h5>
Number of houses on the market this time last year – 2
Number of houses on the market last week – 11
Number of houses on the market this week – 11
Number of apartments on the market this time last year – 30
Number of apartments on the market last week – 27
Number of apartments on the market this week – 23
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985.  He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000.
</body></html>

robertsimeon-hRNTwJyXkQ

Why I am liking this election: Robert Simeon

<html><body>
The Gold Coast market is a tale of two cities, one representing the best of times and the other the worst of times.
The best is the housing market, which is responding to population growth, infrastructure spending and other stimulus to produce rising sales activity and price growth across the region. The worst is the likely outcome in the coastal suburbs dominated by high-rise apartments.
I’ve made my views about the unit market pretty clear. I wrote about it in this column in September, when I started by saying  “It’s danger time for investors tempted to buy high-rise apartments on the Gold Coast” and ended with “For investors who are susceptible to a strong marketing pitch, it’s time to be afraid, be very afraid”.
Gold Coast high-rise units are a prime candidate for the title of worst capital growth performers in Australian real estate, constantly undermined by a boom-bust history characterised by periods of massive oversupply. 
But the Gold Coast is a big city, with a population currently estimated at 550,000 and projected to top 620,000 in five years. It’s in a similar position to both Melbourne and Brisbane – the downtown unit markets should be avoided because of looming oversupply, but suburban housing markets look strong. 
There is more momentum in the Gold Coast suburban market – what I call the genuine residential market of the Gold Coast – than anywhere else in Australia right now.
The Gold Coast is the clear national leader among the Local Government Areas of Australia, including both capital cities and regional areas. It has the most growth suburbs, by a wide margin.
When we examine the sales volumes suburb by suburb, the momentum is exceptional. And this is key information for real estate consumers, because when sales activity rises strongly, price growth is inevitable.
I have mentioned one of the rising Gold Coast precincts as one of my five markets to watch in 2016 – the northern growth corridor stretching up the Pacific Motorway towards Brisbane.
Oxenford stands out in this precinct, with sales rates lifting from 80-90 per quarter last year to 130-135 in the past two quarters. Other growth suburbs in this area include Coomera, Upper Coomera, Pimpama and Ormeau.
But there are growth markets right throughout the residential suburbs of the Gold Coast. Others include Burleigh Waters, where sales in the past five consecutive quarters have been 85, 92, 100, 131 and 144. The pattern there is undeniable and the suburb’s median price is now growing at an annual rate above 10%.
Mermaid Waters is also a growth market, with sales rates up from around 80 per quarter last year to about 120 per quarter now, which means sales activity has increased 50% in 12 months. And, as in Burleigh Waters, the median price is starting to head north.
This rising trajectory of sales is producing price growth in many of the residential suburbs. The annual change in median house prices is in double digits for some of them, including Helensvale, Merrimac, Pimpama, Robina and Worongary, in addition to Burleigh Waters and Mermaid Waters. 
But more common, to date, is growth of 5%, 6% or 7%. I expect the rate of growth to rise in 2016.
It’s also significant that many of the apartment markets have recorded median price decline in the past 12 months or have had zero growth. And most have long-term growth averages that are negative, zero or just 1-2% per year.
It’s very much a tale of two cities – the city of houses and the city of high-rise apartments. As investors, consider the former but avoid the latter.
 
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
</body></html>

Gold Coast property market a tale of two cities: Terry Ryder

<html><body>
Cashed-up expats are well placed to really make the most of their trip back to Sydney for the 2015-2016 Christmas holiday break.
"Expat buyers are in a powerful negotiating position this summer holiday season given the decline in the Australian dollar," estate agent Vicki Laing at Laing Real Estate says.
"They are cashed-up, ready to buy," she said.
“They have the preparedness to offer local vendors either short or long-term settlements which suits both parties," she adds explaining that often the expats actually don’t need the house immediately and are keen to rent it back to the vendor.
Expatriates in senior positions overseas are looking for properties typically costing upwards of $3 million, with younger expats seeking properties selling for $1 million plus.
She said for many they want close proximity to the CBD with easy access to beaches, restaurants and cafes.
“These professionals work long hours when they return so want to be in and out of the office in a reasonable time.”
</body></html>

jonathanchancellor-7SQnKwU6yx

Expats cashed up and ready to buy this summer

<html><body>
I’ve often referred to Canberra as the Goldilocks of the Australian real estate market: not too cold, not too hot, just right.
The national capital seldom booms, nor does it ever seem to crash. It’s so even and steady in its performance, it’s downright boring.
It’s underpinned by a steady economy, high average incomes, low unemployment and the Territory Government’s close control of residential land supply, designed to keep land prices (and government revenue) high.
So it’s no great surprise that the Canberra market is cantering along quite nicely. It hasn’t replicated the boom in Sydney, three hours up the road, but sales activity picked up as 2016 progressed and the number of ascendant markets rose significantly.
Most of the pick-up has been in the housing sector, with apartment sales generally declining compared to 2015. The strong house sales activity has resulted in solid price growth, with some sources recording 10% annual price growth, while others suggest 5-6%.
Overall, compared to 2015, sales activity was a little down in 2016, but only marginally so. Sales in 2016 were higher than in 2012, 2013 and 2014, notably for houses. The December Quarter is always the highest for Canberra sales, and this was true also in 2016.
In terms of total residential sales, volumes have been gradually rising since 2012, when most quarters were a little below 2,000 sales. In 2016, all four quarters delivered well over 2,000 home sales, including 2,400 sales in the December Quarter.
The apartment market peaked with around 1,000 sales per quarter in 2014-15 and volumes have been gradually decreasing since then, with about 850 sales in each of the September and December Quarters of 2016. Previous oversupply in this market has now been largely absorbed (Canberra now has the lowest vacancy rate among the capital cities, except for Hobart) and we can expect unit sales to rise again in 2017.
Meanwhile, the house sales market has gathered strength and the December 2016 Quarter was the biggest for house sales in the past five years, except for December 2015. The number of suburbs with growing sales activity has increased significantly and is the highest since we began our quarterly surveys three years ago.
Overall, the standout characteristic of Canberra is the steadiness of its performance.
Another predictable factor in the ACT market is the predominance of the northern part of the city in terms of markets with upward momentum.
While there are now growth suburbs across the Canberra metropolitan area, the strongest precincts once again are the Belconnen and Gungahlin districts.
Canberra has 19 suburbs classified as Rising Steadily markets and 11 of those are in the Belconnen (six) and Gungahlin (five) districts in the north of the metropolitan area.
These districts also have a large number of suburbs characterised by their consistent sales levels.
Suburbs with rising markets in the Belconnen District include Flynn, Bruce, Macgregor, Kaleen, Holt and Evatt, along with Amaroo, Bonner, Gungahlin, Ngunnawal and Palmerston in the Gungahlin District.
In Holt, house sales have risen from 20 to 30 to 33 to 40 in consecutive quarters, while Macgregor is up from 33 to 37 to 46 to 51. Both are suburbs with median house prices around $450,000 and attract buyers for their relative affordability (Canberra’s median house price is around $650,000).
There are growth markets elsewhere as well, including in the Tuggeranong and Woden Valley districts, as well as in some of the inner-city areas.
But the most typical Canberra suburbs are the ones with steady sales levels. In Dunlop in the Belconnen District, sales in consecutive quarters have been 35, 39, 37, 36, 34, 38, 40, 41, 40, 38 and 36 over the past three years. That kind of steadiness is what Canberra real estate is really about.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can  <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'%3E%20%3C!--%20document.write('%3Cspan%20style=/'display:%20none;/'%3E');%20//--%3E%20%3C/script%3EThis%20email%20address%20is%20being%20protected%20from%20spambots.%20You%20need%20JavaScript%20enabled%20to%20view%20it.%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20document.write('%3C/');%20document.write('span%3E');%20//--%3E%20%3C/script%3E" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
</body></html>

Canberra market cantering along nicely

<html><body>
Like most people, Australians are past sick and tired of their elected politicians, simply because they do very little and collectively can’t solve problems – in fact, they now make them worse. 
Speaking at the 2017 Committee for Economic Development of Australia summit Henry was scathing. “Australia had become so paralysed by political inaction that it had gone from an optimistic nation which pioneered world’s best policy and nurtured world’s best institutions to a place that nobody looked to anymore to see how it should be done.”
“Have you heard a political leader addressing that question? Do you think anybody has a clue? At the very least, we are going to have to find radical new approaches for infrastructure planning, funding and construction.”
“Based on current estimates, Australia needs to build a city for two million people every two years or a city the size of Melbourne or Sydney every decade yet the only plan seems to be stuffing more people into Sydney and Melbourne.”
 
He went on to say that four priorities could be met by adopting, as a minimum, eight reform proposals. These are:
<ul class="ul1">
<li class="li1">Apolitical infrastructure planning and pricing, including the widespread use of road user charging;</li>
<li class="li1">A much lower company tax rate, or some other mechanism that reduces substantially the cost to Australian businesses of equity capital sourced from abroad, achieved much more quickly than is presently under consideration by our Parliament;</li>
<li class="li1">The removal of stamp duties on residential property;</li>
<li class="li1">Symmetrical tax treatment of interest and capital gains;</li>
<li class="li1">An overhaul of state-based royalties;</li>
<li class="li1">Market-based price signals to guide climate change mitigation and long term investment in the energy sector;</li>
<li class="li1">A broader base and higher rate of GST;</li>
<li class="li1">A substantial adjustment to roles and responsibilities between the Commonwealth and the states.</li>
</ul>
Stamp duty on residential property was supposed to be removed when the GST came in on July 1, 2000. How can you justify a duty that has increased by over 800 per cent over since 2000, when it was agreed that it would be removed? It is a no brainer that the GST has to be increased although this time around stamp duty has to be abolished.
This week, the NSW Premier Gladys Berejiklian announced that the tunnel from Manly Vale to the Warringah Freeway was still going to happen although she could not say when? We all know that this won’t be happening given the Liberal Party has now been promising this tunnel since 2002. So, thousands and thousands of new apartments are approved and the NSW government does nothing for transport infrastructure. Then, of course, the NSW government announced late last year the Ingleside development with 3,400 new homes – this is just ludicrous.
No politician responded to the announcement from a new global report which found Sydney the tenth most expensive city in the world for residential tenants. How are young Australians supposed to be getting into our property markets when they are forced to pay some of the highest rents on the planet, then factor in stamp duty plus add another 10 per cent to their previous 10 per cent deposit to qualify for a bank loan? Superannuation is not the answer that is just a dumb solution. Malcolm Turnbull needs to be talking to Ken Henry and urgently implementing his solutions.
If you want to see the impact of stamp duty on property markets look at the graphs that we have compiled – look at the dramatic reduction in people selling.
<a href="https://www.propertyobserver.com.au/images/2017/02/24/Mosman-House-Sales-2016.png" target="_blank">Mosman House Sales</a>
<img src="https://www.urban.com.au/images/2017/02/24/Mosman-House-Sales-2016.png" alt=""> 
<a href="https://www.propertyobserver.com.au/images/2017/02/24/Mosman-Apartment-Sales-2016.png" target="_blank">Mosman Apartment Sales</a>
 <img src="https://www.urban.com.au/images/2017/02/24/Mosman-Apartment-Sales-2016.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/02/24/Cremorne-House-Sales-2016.png" target="_blank">Cremorne House Sales</a>
 <img src="https://www.urban.com.au/images/2017/02/24/Cremorne-House-Sales-2016.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/02/24/Cremorne-Apartment-Sales-2016.png" target="_blank">Cremorne Apartment Sales</a>
<img src="https://www.urban.com.au/images/2017/02/24/Cremorne-Apartment-Sales-2016.png" alt=""> 
<a href="https://www.propertyobserver.com.au/images/2017/02/24/Neutral-Bay-House-Sales-2016.png" target="_blank">Neutral Bay House Sales</a>
<img src="https://www.urban.com.au/images/2017/02/24/Neutral-Bay-House-Sales-2016.png" alt=""> 
<a href="https://www.propertyobserver.com.au/images/2017/02/24/Neutral-Bay-Apartment-Sales-2016.png" target="_blank">Neutral Bay Apartment Sales</a>
<img src="https://www.urban.com.au/images/2017/02/24/Neutral-Bay-Apartment-Sales-2016.png" alt=""> 
Why do politicians keep crucial infrastructure a secret? Well, that would be as Ken Henry correctly pointed out, “Australia has become so paralysed by political inaction”. To fix the problem you first need a model, and we now have one – courtesy of Ken Henry.
You can watch with interest how our elected politicians respond to Henry and his critiquing of the Australian economy. My money is on nothing happening as today we have political paralysis.
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985. 
He has also been writing real estate blog <a href="https://www.rwm.com.au/news/">Virtual Realty News</a> since 2000.
 
</body></html>

To fix Australia’s housing affordability listen to Ken Henry

<html><body>
The slow and inevitable fade of the Sydney market is happening in concert with a rise in New South Wales regional markets.
Hotspotting’s monitoring of sales activity shows there are growth markets across the state – indeed Regional NSW now has more upwardly-mobile markets than Sydney does.
The Newcastle region and the Central Coast stand out, as markets a little north of Sydney head a strong NSW Regional sector.
While the Sydney market is past its peak and has relatively few growth markets compared to 2015/2016, Regional New South Wales has risen.
Our Spring survey has identified almost 50 regional towns or suburbs with rising markets – a little down on the number revealed in the Winter report, but still very strong.
I’ve observed previously that Newcastle and the regions surrounding it have provided the stand-out precinct in Regional NSW.
This remains the case, but with a new market leader - the Lake Macquarie LGA on the fringe of Newcastle.
This municipality has five suburbs where sales activity is rising steadily and six others with steady sales performance. Growth suburbs include Belmont North, Edgeworth, Macquarie Hills, Toronto and Warners Bay.
Nearby LGAs (including the municipalities of Port Stephens, Newcastle, Maitland, Cessnock, Singleton and Muswellbrook) all have busy sales activity. 
Jointly the Newcastle/Hunter region has 19 growth markets (up from 17 three months ago).
To illustrate what some of these markets look like, dwelling sales in Cessnock have been 65, 67, 84, 90, 96 and 101 in the past six consecutive quarters. This kind of pattern inevitably delivers price growth – and the median house price for Cessnock has increased 13% in the past 12 months.
Hunter Valley locations like Muswellbrook and Singleton continue to improve after the previous downturn caused by over-development and a downturn in the coal industry.
Following the merger of the Wyong and Gosford LGAs to form the Central Coast council area, this municipality is now a significant market in Regional NSW.
It has four rising locations, but 24 with steady sales performance (many of them what we called “plateau” markets, where sales have levelled off a little below the peak), which indicates this market overall is strong but past its best.
On the south coast of NSW, both Batehaven and Tuross Head in the Eurobodalla LGA have growth markets.
Queanbeyan on the ACT border continues to excel as an affordable growth alternative to Canberra. Others to stand out as above-average growth markets in Regional NSW include Bathurst, Dubbo, Taree, Tuncurry and Gunnedah.
Tamworth, Orange, Goulburn, Ballina and Wagga Wagga all have solid markets with steady sales activity.
Areas which were among the Regional NSW growth stars previously, but have now levelled out with plateau markets, include locations close to Sydney which caught a ripple effect from the capital city boom: Wollongong, Blue Mountains and the lifestyle towns of Wingecarribee Shire (the Southern Highlands).
Other previous growth stars now past their peaks include Port Macquarie and Coffs Harbour.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
</body></html>

Regional NSW now has more upwardly-mobile markets than Sydney

<html><body>
A cooling off is occurring in Sydney's Eastern Suburbs residential market for properties especially at lower price points.
The eastern suburbs market is currently witnessing some mixed results which vary between market segments and property types, according to the June report from the valuation firm Herron Todd White.
The first quarter of 2018 started fairly stably however more recently has seen some softening in values, extended selling periods and auction clearance rates falling to 68.3% as of 27 May, compared to 79.4% at the same time last year, t.he report noted
The stronger sector of the market is currently good quality prestige houses in the $5 million to $10 million price range.
The reported quoted prominent eastern suburbs agent, Alexander Phillips, stating that “it’s harder to sell a $900,000 apartment by the beach than a house for $8 million in Bellevue Hill in the current market”.
As he points out, it’s just harder to borrow money, which is reducing the buying power for people looking for apartments.
“If you had a two bedroom apartment in Bondi open for $900,000 you’d get four or five groups, but if you had a house priced at $6 million or $8 million in Bellevue Hill you’d get 20 groups... there are just more buyers at that price point at the moment,” he said.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/6/15/6%20Latimer%20road%20Bellevue%20hill.jpg" alt="">
6 Latimer Road, Bellevue Hill which sold on 12th May for approximately $8,600,000 after the first open home and three days on the market (above). 
"While the prestige housing sector remains somewhat stable, the general unit market is showing signs of market resistance compared to previous years", according to the valuation firm.
A Bellevue Hill unit was originally passed in at auction, then set an asking price of $929,000 which was further reduced to $890,000 and was then sold for $870,000.
"Although not a significant reduction, this is something very rarely seen in the eastern suburbs over the past several years," HTW noted.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/6/15/10-175%20Victoria%20Road%20Bellevue%20Hill.jpg" alt="">
10/175 Victoria Road Bellevue Hill is a typical 2 bedroom, 1 bathroom art deco unit (on a busy road) sold on 4th May for $870,000 after 85 days on the market (above).
Buyers have a more reserved attitude and HTW is forecasting that this will continue for the remainder of the year. 
</body></html>

j.ballantyne1990-6AQqhLzZaK

Cooling off occurring in Sydney's Eastern Suburbs residential market prices: HTW 

<html><body>
Now, more than ever before, is the time to seriously consider and pay close attention to what your real estate agent promises you.
Don’t be too complacent and think that most agents actually care about your best interests. Most realtors wouldn’t shout you a cup of coffee, if it means actually putting their hand in their pockets to accommodate your needs.
No, this isn’t a rant about Vendor Paid Advertising (VPA). We’ve already had that discussion.
This article is about making sure, your agent, is looking after your best interests. Your interests when they suggest that your property is best marketed; via an auction campaign.
Below are some simple steps to follow and questions to pose to the agents that are hell-bent on auction strategies.
In this instance, the focus is on the auctioneer, more than the listing agent that wants to sign you up. Or in some cases: stitch-you-up.
Questions you need to ask about the auctioneer:
1)     Price: Is the auctioneer the cheapest in the area?
2)     Performance: How well does he/she perform?
3)     Pre-auction inspection: Will they actually come to view the home before the day of the auction?
4)     Price
Like everything, pay peanuts and you will get monkeys. But sometimes in the auction game, you also get very expensive baboons.
The key here is, don’t just base the decision on the criteria of “price”. Base your decision, in collaboration with the other two points, as well as price.
Performance
To help you better gauge the caliber of the individual that will have control of the sale on the day, make time to see them in action. Do it first hand and don’t rely on what their mate, the real estate agent, tells you about them.
Pre-auction inspection
I find it difficult to grasp the belief that an auctioneer, that has 5-9 properties to auction off in a period of 5 hours, can actually perform to their best of their ability on the day.
What I have seen is, most auctioneers stumbling and running late from appointment to appointment in Saturday traffic-jams in Sydney.
Their complacency, may have worked for them as people are prepared to pay 20-30% above the odds in a hot market; however, the tide has turned. Clearance rates are dropping weekly and rapidly.
You may be about to give a fool, the reigns of what is your most valuable asset. Think twice before you do. Perhaps the following points will assist you with your decision.
Foolish things agents and auctioneers do when they are under pressure
1)     Run an auction when no one has actually registered nor has anyone requested contracts prior to day of auction. I witnessed one last week. It was disastrous for     the vendor.
2)     Advertise low price-guides to draw a crowd only to pass the property in at the low price-guide.
3)     Calling vendors bid low, believing this will stimulate the bidding. I see this occur over and over again, and auctioneers do this even when the reserve is 15%-25% higher.
The common outcome: property is passed in at vendors bid and therefore, devaluing the potential of the property.
4)     Auctioneer not properly informed, if at all, about material facts such as; easements and covenants, development potential, history and not knowing in detail about the property.
5)     Auctioneers, thinking more about the traffic conditions they will encounter travelling to the next property, than the actual sale at hand.
6)     Agents and auctioneers conducting room auctions with 3 or more properties. Again, may have worked in a hot market, however, this is suicide for the vendor in normal circumstance.
Prevention is better than cure
To understand why agents are pushing auctions, you need to have a behind the scenes peak. Most real estate training manuals simply state:
“…Auction campaigns, gives the agent a definitive sales date. One that vendors and buyers are locked into… and you’re guaranteed your commission”
The above would be perfect if it also meant two outcomes:  first, the sale achieves the best price and second, the agent was ethical about the entire campaign. 
If your agent’s recommendations of an auctioneer does not meet the above criteria and what you hear and see on the video; you may well lose tens if not hundreds of thousands of dollars.  Then again, ask yourself, is your property that unique to go to auction, and is it really the best strategy.
Happy selling. 
 
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
</body></html>

ealmedia-arK4DBYLjS

Pay close attention to what your real estate agent promises you: Edwin Almeida

<html><body>
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.
The number of auctions due to be held across the capital cities this week rose to 3,068 from 2,547 last week when there were just 629 auctions held across Melbourne as the city prepared for Melbourne Cup.
This week, 1,262 auctions are scheduled for Melbourne and 1,297 across Sydney, accounting for over 80% of all capital city auctions. These figures also demonstrate just how much of an impact these two auction markets results can have on the weighted average clearance rate. Last week, Sydney’s final clearance rate fell to 60.2%, heightening the reality that the clearance rate could likely slip into the 50’s over the coming weeks to wrap up an otherwise strong year for the city.
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.
Compared to last year when there were 2,942 auctions held across the combined capitals, auction activity will be busier in Adelaide, Melbourne and Sydney this year, while volumes are expected to be slightly lower in Brisbane, Canberra and Perth as per below
Sydney: 1,297 this year, 1,261 last year Melbourne: 1,262 this year, 1,139 last year Adelaide: 151 this year, 131 last year Canberra: 127 this year, 141 last year Brisbane: 173 this year, 188 last year Perth: 45 this year, 65 last year
In terms of clearance rates, last week the best performing capital city auction market was Canberra, where 71.0% of the reported auctions were successful. Following this was Melbourne, where the final auction clearance rate for the week came in at 65.6%.
This week, the busiest individual suburbs for auctions nationally are Mount Waverley (Vic) with 23, Glen Waverley (Vic) with 18 and Mosman (NSW) with 17.
</body></html>

Residential Market

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Residential Market

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News