The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Residential Sales

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Dilapidated homes aplenty at weekend auction with most doing very well.
In Melbourne's Albert Park five bidders competed for 33 Little Page St, paying $2.572 million for the <a href="https://www.realestate.com.au/sold/property-house-vic-albert+park-124005210" target="_blank">brick warehouse</a> (above) under a rusted roof on 190sq m.
It had last sold for $40,000 in 1982, it went to a Camberwell buyer who will convert the space into a family home.
At Fitzroy $677,000 was paid for a dilapidated terrace where agents Chambers had given a price guide of mid-$500,000s.
<img src="/images/2016/11/28/Screen%20Shot%202016-11-28%20at%209.46.12%20AM.png" alt="" width="508" height="299">
A builder secured the offering at <a href="https://www.realestate.com.au/property-house-vic-fitzroy-124012338" target="_blank">11 Henry Street</a> (above) which came with plans and permits in place for a double-storey home with a rooftop terrace while keeping the heritage-protected 1860s facade. 
It last sold in 2014 at $510,000, and now comes with artwork by street artist, <a href="https://r-o-n-e.com/about/bio/">Rone</a> who recently had a local exhibition that included photographs of murals painted in abandoned houses throughout the city.
At Box Hill a knockdown home on 646 square metres sold to one of two competing apartment developers for $4.5 million at <a href="https://www.realestate.com.au/property/23-irving-ave-box-hill-vic-3128" target="_blank">23 Irving Avenue</a>.
<img src="/images/2016/11/28/700_irving.jpg" alt="" width="542" height="329">
It last sold in 1993 for $133,000.
Even the Adelaide which was the nation's cheapest sale was a demolition prospect, despite its outward appearance.
<img src="/images/2016/11/28/Screen%20Shot%202016-11-28%20at%209.50.45%20AM.png" alt="">
It was a $220,000 house at <a href="https://www.realestate.com.au/property-house-sa-para+vista-124024234" target="_blank">Para Vista</a> (above) which had been marketed with $230,000 hopes. The three bedroom 5 Heather Court house was offered as "in need of demolition due to cracking and structural problems."
"It could be possible to rent the home out with some work done but it was land value only," the selling agent John Leske said.  
In Sydney there was a keen bidding for a Rozelle dump that fetched $1.688 million.
<img src="/images/2016/11/28/Screen%20Shot%202016-11-28%20at%209.52.02%20AM.png" alt="">
The overseas vendors had only got around to installing a new bathroom since they'd paid for the unliveable freestanding house at <a href="https://www.realestate.com.au/sold/property-house-nsw-rozelle-123985778" target="_blank">23 Gordon Street</a> (above). It last sold at $1.17 million in 2013.
 
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jchancellor-FAypfDUnLy

Blank canvas Albert Park auction listing attracted keen buyer interest

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The 2016 spring auction market finished with continued strength despite the late spike in property listings. 
There were 500 more weekend auctions across Sydney and Melbourne, which accompanied by early signs of rising fixed interest rates, did little to dent buyer enthusiasm.
Sydney's preliminary auction clearance rate of 81.9 per cent was up on the prior weekend's 79.6 percent while Melbourne's 76.9 percent rate was slightly down from the prior 79.4 percent rate, according to Corelogic.
The Seddon transformation of celebrity renovation couple - Dan and Danu from The Block - <a href="https://www.realestate.com.au/property-house-vic-seddon-123982822" target="_blank">failed to sell</a> (below).
<img src="/images/2016/11/28/Screen%20Shot%202016-11-28%20at%208.46.52%20AM.png" alt="">
The Block regulars Dan Reilly and Dani Wales restored and extended the property at 3 Sydenham St over a two year period.
The three-bedroom property was passed in at $1.26 million. 
There had been a price guide of $1.1 million plus on the now three bedroom home that was previously an untouched Victorian. 
The couple paid $462,000 for the home after filming concluded for The Block All Stars season in mid-2013.  
Their renovation, including updating the Victorian facade, has come at a cost of around $400,000. 
Sydney's auction success rate stayed high on the final spring weekend. 
Sales ranged from $337,000 at Guildford for a one bedroom flat that had been marketed as set to fetch $350,000.
The dearest was a $5,505,000 <a href="https://www.realestate.com.au/property-house-nsw-cronulla-123857510" target="_blank">Cronulla beachfront sale</a> (below) where two of the three registered bidders competed through agent Mark Wigley.
<img src="/images/2016/11/28/Screen%20Shot%202016-11-28%20at%208.49.07%20AM.png" alt="" width="429" height="342">
It was the former abode of the former sports promoter and administrator Kevin Elphick who paid $4 million in 2013 for the Taloombi Street home.
Melbourne's dearest was in Elwood where a <a href="https://www.realestate.com.au/property-house-vic-elwood-124001262" target="_blank">contemporary house</a> sold for $4.75 million. 
<img src="/images/2016/11/28/Screen%20Shot%202016-11-28%20at%208.50.16%20AM.png" alt="" width="532" height="361">
The four bedroom 14 Kingsley Street home sat in Jack Merlo gardens. 
Auction volumes increased with 3,367 properties taken to auction this week - the second highest number of reported auctions this year for the combined capital cities.
It was up from 2,987 over the previous week, according to CoreLogic, who noted the volume was still significantly lower than the corresponding week last year's 3,729 offerings. 
The preliminary auction clearance rate, despite the increase in volume, remained strong at 76 per cent, up from last week’s final of 74 per cent. 
The same final weekend of spring last year saw a 60 percent success rate. 
"Every capital city except Perth and Canberra are showing auction numbers to be lower than a year ago, while every capital has recorded a higher clearance rate compared with last year," Kevin Brogan from CoreLogic said.
Across Melbourne, the preliminary clearance rate was recorded at 76.9 percent, down on last week but remaining well above the 65.9 percent last year.
Melbourne was host to 1,618 auctions, which was the second highest reported for Melbourne this year, but lower than a year ago when there were 1,876 Melbourne auctions held. 
Across Sydney, 1,236 homes were taken to auction this week with a preliminary clearance rate of 81.9 percent. One year ago, 1,306 Sydney homes were taken to auction and the clearance rate was 56 percent. 
Across Sydney's Inner West region, the preliminary clearance rate was 90 percent, while across the South West had just 59 percent successfully sold.  
Brisbane's preliminary clearance rate was 53 percent, up from 45 percent last week and also higher than one year ago, when it was 47 percent.
A total of 140 Adelaide homes were taken to auction, with a preliminary clearance rate of 66 percent.
Perth’s preliminary clearance rate of 36 percent sits around the same as one year ago.
Canberra’s clearance rate was 72 percent this week across 112 auctions which included a new suburb record for Kaleen when <a href="https://www.realestate.com.au/property-house-act-kaleen-124034794" target="_blank">45 Onkaparinga Crescent</a> (below) fetched $1,045,000, topping the previous record of $935,000 at 12 Sanford Place last December. 
<img src="/images/2016/11/28/Screen%20Shot%202016-11-28%20at%208.52.23%20AM.png" alt="">
The weekend sale was a five bedroom, two storey house on a 1637 sq m block. 
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Dan and Dani from The Block miss the spring Super Saturday sales surge

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We all know Spring as supposedly the best time to be bringing your home to the market. 
What is often forgotten is that if everyone acts in the same way looking to sell during Spring, there is a lot more competition amongst vendors and it can be more difficult to sell.  In fact, looking at auction markets, the clearance rate quite regularly falls during Spring as volumes rise.
<a href="/images/2016/11/27/chart-1-1.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/27/chart-1-1.jpg" alt="">
On a weekly basis throughout 2016, auction clearance rates across the combined capital cities have been recorded at an average of 70.9 percent.  If we compare this to the previous years, the average weekly auction clearance rates were recorded at: 48.0 percent in 2011, 50.4 percent in 2012, 66.2 percent in 2013, 67.8 percent in 2014 and 72.0 percent in 2015.  Over recent years clearance rates have fallen over the final quarter of the year, however, this year there has been no such fade-away in clearance rates.  In comparison to 2015 for example, auction clearance rates were much higher earlier in the year than they have been this year while in 2015 clearance rates faded substantially over the final quarter of the year.
<a href="/images/2016/11/27/chart-2-2.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/27/chart-2-2.jpg" alt="">
The average number of properties being put up for auction each week has been lower in 2016 than it has been over recent years.  So far in 2016, there has, on average, been 1,765 auctions each week across the capital cities.  By comparison, average auction counts over recent years have been recorded at: 1,384 in 2011, 1,334 in 2012, 1,733 in 2013, 2,029 in 2014 and 2,170 in 2015.   
Auction volumes so far this year have been similar to those in 2013 however, in 2013 average clearance rates were on average quite a bit lower at 66.2 percent compared to 70.9 percent this year.  If we look at the past three years auction volumes through the final quarter of the year, we can see volumes rising through Spring as the selling euphoria hits.  So far this year, , volumes have risen but they have not hit the heights of 2014 and 2015, subsequently auction clearance rates have so far not faded through the end of the year like they did in 2014 and 2015 and have in each of the previous years highlighted.
A lower volume of auctions overall has certainly been a key driver of why auction clearance rates have been stronger this year.  Importantly, this is not just a feature of the auction market itself, new and total listings in the two largest auction markets (Sydney and Melbourne) are lower than they were a year ago so overall, there is less stock available for sale to choose from.
<a href="/images/2016/11/27/chart-3-2.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/27/chart-3-2.jpg" alt="">
Focusing on auction statistics for the final quarter of each of the past four years in the regions of Sydney and Melbourne it shows that almost every region in both cities has seen an increase in average auction clearance rates so far in 2016 compared to 2015.  At the same time, average auction volumes are lower than they were last year across all regions of Sydney and Melbourne. 
In Sydney in particular the regions that have had relatively weaker auction clearance rates over recent years have generally so far this year seen proportionally fewer auctions.  This seems to suggest that vendors are getting more selective about using an auction to sell in those areas which are not traditional auction-centric markets.
The combination of fewer overall properties for sale, fewer homes being taken to auction and vendors being more selective around which homes to auction seems to be resulting in much stronger auction clearance rates.  Additional factors over the year such as lower interest rates are also likely to be supporting the market.  If these conditions persist, it is reasonable to expect that for the remainder of 2016 and into 2017 the auction market will remain strong.
<div>
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
 
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ckusher-ujnxiKuFQs

Spring auction clearance rates not fading like past selling seasons

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First home buyer activity in New South Wales is at the lowest on record for the state according to Domain Group chief economist Andrew Wilson.
He said latest ABS data reveals that just 1284 loans were approved for NSW first home buyers over September which is the smallest September total recorded in the series since the all-time low recorded over September 1991.
"First home buyer loans in NSW accounted for a record low 4.5 percent of all lending approved for housing purchases over September," he said.
"This is well below the long-term market share for this group of 13.0 percent and is clearly the lowest proportion of all the state markets – well below the next lowest state South Australia with a 9.7 percent loan market share.
<a href="/images/2016/11/24/FHBSep16.png" target="_blank"></a>First home buyer residential loan market share September 16
NSW   4.5 percent
VIC   10.5 percent
QLD  12.9 percent
SA      9.7 percent
WA    19.7 percent
TAS    13.2 percent
Source: ABS, Dr Andrew Wilson
 
"Although activity levels are low and falling, the average loan approved for a first home buyer in NSW increased by 2.9 percent to $376,700 over the month and was clearly the highest of all the states with next highest Victoria at $325,100.
"First home buyer activity in NSW is set to remain at historically low levels, particularly with home prices rising sharply in the Sydney market over recent months.
"The recent surge in investor activity is also clearly a factor in sidelining NSW first home buyers and will continue to contribute significantly to prices growth."
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First home buyer fallout in New South Wales

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GUEST OBSERVER
With Christmas fast approaching, more property sellers are opting for three-week auction campaigns.
This weekend’s Super Saturday auction extravaganza features a large number of properties, which are using three-week marketing campaigns, rather than the traditional four-week approach.
This is a sensible strategy given Sydney’s high clearance rates and stock levels that are lower than in previous years. These factors are encouraging more owners to act quickly before buyers lose interest, or more stock comes onto the market.
The hottest auction clearance rates were achieved in Sydney’s Inner West last weekend, with 91 percent of properties selling under the hammer.
The next best was the Northern Beaches with a clearance rate of 90.5 percent, followed by the city and the Eastern Suburbs with 90.2 percent, and the Lower North Shore with 84.4 percent.
A clearance rate above 90 percent means vendors have very a solid chance of selling in this market, and it’s this realisation, and the proximity to Christmas, which is encouraging more owners to choose a shorter, marketing campaign.
Savvy sellers also realise that some committed buyers may be willing to accept a three-week settlement, as they wish to move into their next property before the end of the year. However, once we reach the second week of December this possibility fizzles out.
Also by the middle of next month, the mindset of many buyers will start to drift away from real estate, to preparing for a Christmas visit from the in-laws, buying presents for the children and planning for the holiday season.
The higher than usual number of three week auction campaigns indicated more real estate agents are adapting to prevailing market conditions.
James Pratt is director of auctions, Raine &amp; Horne, and can be contacted <a href="https://www.raineandhorne.com.au" target="_blank">here</a>.
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Shorter auction campaigns are tempting buyers seeking a pre-Christmas property purchase

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The Lane Cove family home of the late Sydney architect Harvey Webster has been listed.
The Panorama Road home was designed and built by the architect in 1987.
Located at <a href="https://www.domain.com.au/17-panorama-road-lane-cove-nsw-2066-2013171197" target="_blank">17 Panorama Road</a>, the property showcases vaulted ceilings with limed timber finishes.
The five-bedroom residence is set over three levels on a 866 square metre block.
The November 26 home has been listed through Bernadette Hayes of Harbourline Real Estate.
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Sydney architect Harvey Webster's Lane Cove home listed

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A record price has been paid for penthouse in Parramatta.
The $3 million sale was in the initial offering of Coronation Property’s highly anticipated 8 Phillip Street in Parramatta.
Local Parramatta businessman Bob Reiman (below) had originally planned to buy a standard three bedroom apartment, but upgraded to the $3 million penthouse - one of a handful of apartments on the top two floors of the 55 storey tower.  
<img src="/images/2016/11/21/DSC_0011.JPG" alt="">
 
The apartments for sale started from $459,000 for a studio apartment.
<img src="/images/2016/11/21/700_coronation.jpg" alt="">
The prior disclosed off the plan penthouse offerings elsewhere in Parramatta had been in the $2.2 million to $2.6 million range. 
“I was really impressed with the quality of the finishes of the apartment and the design by international architect Woods Bagot," said Mr Reiman.
Its stage one sold out, after more than 200 expressions of interest were received prior to launch day resulting in more than $110 million sold in the first few hours.  
Further strong sales are anticipated over the next few days.
The luxury 55-storey tower will feature boutique QT Hotel accommodation on its lower levels, together with world-class facilities including a signature QT bar &amp; grill restaurant which will also be open to the public, multiple meeting and event spaces, Spa Q, a ballroom accommodating 200 people seated and an alfresco infinity pool on the 18th storey.
8 Phillip Street will comprise just over 300 residences when completed in 2020, with apartments to include one, two and three bedroom configurations, as well as studio and penthouse options.
<img src="/images/2016/11/21/700_parra.jpg" alt="">
The tower’s pièce de résistance is its spacious ‘Studio 54’ rooftop bar which will be open to residents as well as the public and will easily be able to accommodate 600 patrons, who will be able to enjoy unapparelled views of Sydney’s CBD and surrounds.
Jason Soulos, Sales Director, Coronation Property, said the response to 8 Phillip Street had been exceptionally strong in the lead-up to the sales launch.
“Although we were expecting robust sales at our launch, it wasn’t until we opened our project gallery in recent weeks that we were able to truly gauge just how exciting the project had become to locals – many of whom have since purchased apartments within the development,” Mr Soulos said.
“The addition of high-tech, immersive virtual reality booths within our project gallery to showcase the project to buyers was exceptionally well-received – the technology was able to virtually transport buyers right to the top of the tower to experience its facilities and vistas for themselves.”
Buyers on the day also cited the inclusion of world-class landscape architecture and outdoor design elements by project partner Jamie Durie as another drawcard for 8 Phillip Street, with the gardening guru planning a floating forest and trapeze garden to grace the tower’s façade and foyer.
According to Mr Soulos, the majority of purchasers to date are owner-occupiers, with many currently living or working in Parramatta.
The project gallery and display apartment is open from 11am – 4pm on Thursdays to Sundays or by appointment.  Appointments can be made by calling 1800 753 163 or enquiring via <a href="mailto:sales@coronation.com.au" target="_blank">sales@coronation.com.au</a>.
For more information visit liveat8phillipst.com.au.
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Record $3 million penthouse sale in Coronation’s 8 Phillip Street, Parramatta

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Sydney had a stellar weekend with strong prestige property sales.
An off the plan penthouse offering at the luxury development Opera Residences on Circular Quay <a href="https://www.operaresidences.com.au/" target="_blank">sold for $27 million</a>, bettering a $26 million adjacent sale announced just a few days earlier.
The sale of the last 280sqm penthouse (below) occurred on Saturday at the official launch of the 109 apartments to be built on Macquarie Street by Chinese developer Macrolink and its local joint venture partner, Landream. 
<img src="/images/2016/11/21/700_penthouse.jpg" alt="" width="520" height="316">
A local family from the Sydney's lower north shore secured the 19th level with views of the Harbour Bridge, Opera House and the Botanical Gardens. 
There was also confirmation of a <a href="https://www.realestate.com.au/property/54-wunulla-rd-point-piper-nsw-2027" target="_blank">$60 million plus sale of Altona</a>, a Point Piper harbourfront home (lead image pictured above).
It was sold by the low key Wang family to the Huang family from Hunters Hill. 
The Wang family had bought the prized harbourfront home for $52 million in 2013, so with few only minor renovations have made a handy profit.
Its sale did not require Foreign Investment Review Board approval by the resident Australians.
The iconic Victorian Italianate home sits on a 2400 sq m holding.
Sydney dominated the weekend auction scene too.
A $5.9 million pre-auction sale was secured at Mosman.
<img src="/images/2016/11/21/Screen%20Shot%202016-11-21%20at%209.26.08%20AM.png" alt="">
The <a href="https://www.realestate.com.au/property/6-lavoni-st-mosman-nsw-2088" target="_blank">6 Lavoni Street offering</a> (above) has sold at $5.55 million in September 2015.
In Sydney, 1,064 auctions were held this week, down from 1,089 over the previous week. The preliminary clearance rate of 81.2 percent is slightly down from 81.4 percent last week, however still higher than the corresponding week last year, when a clearance rate of 56 percent was recorded across 1,116 auctions.
The North Sydney and Hornsby region recorded the strongest clearance rate of 90 percent, while also recording the highest volume of auctions of all the regions with 149 offerings.
Next weekend the Sydney market will host its peak spring Super Saturday of auctions with more than 950 homes due to go under the hammer, according to Domain.
There were 2,950 auctions held across the combined capital cities, with only a small increase over the 2,897 reported capital city auctions last week.
The number of auctions are tracking at the highest level since March.
"There has been no indication that clearance rates are starting to ease as we approach summer," said CoreLogic's Kevin Brogan.
"However, when compared to last year, auction volumes continue to track lower with vendors still seemingly reluctant to place their properties on the market despite such strong selling conditions.
"There were 3,166 auctions reported over the corresponding week last year, with a clearance rate of 59.5 percent, which is a substantially lower rate of clearance when compared to the higher rate that has remained consistent since July."
This week’s preliminary clearance rate remains healthy at 75.6 percent, decreasing only slightly over last week’s final clearance rate of 75.8 percent.
In Melbourne, a preliminary auction clearance rate of 79 percent was recorded across 1,299 auctions this week.
Last week, Melbourne’s final clearance rate was recorded at 76 percent across 1,329 auctions, while this time last year, 1,510 properties were taken to auction across Melbourne and a clearance rate of 67 percent was recorded.
Melbourne's top sale was a contemporary home at St Kilda.
<img src="/images/2016/11/21/Screen%20Shot%202016-11-21%20at%209.28.25%20AM.png" alt="">
The five bedroom 1880s home with modern extension at <a href="https://www.realestate.com.au/sold/property-house-vic-st+kilda-123935874" target="_blank">10 Charlotte Place</a> fetched $4.4 million.
The Essendon midfielder Dyson Heppell sold his Moonee Ponds house after its weekend auction.
It was his renovation project spent during his year banned from football.
A $2.65 million sale was secured for the 1910 house which the 24-year-old transformed while serving his AFL doping ban,
The property had been bought in September 2015 for $1.74 million with Heppell naming it Albertus after his grandfather..
The selling agent Rebecca Towns of Brad Teal had been quoting $2.5 million to $2.65 million for the four-bedroom home.
The preliminary clearance rate in Brisbane this week was 47 percent, down from 53 percent over the previous week. Auction volumes were higher this week with 260 auctions held, up from 196 last week.
Brisbane had the nation's cheapest sale over the week at Beenleigh when a <a href="https://www.realestate.com.au/property-townhouse-qld-beenleigh-123832474" target="_blank">three bedroom townhouse fetched $230,000</a>. 
<img src="/images/2016/11/21/Screen%20Shot%202016-11-21%20at%209.29.39%20AM.png" alt="" width="502" height="348">
It was a mortgagee sale.
It last sold at $112,000 in 2002.
A total of 135 Adelaide homes were auctioned this week and the preliminary auction clearance rate of 68 percent is just higher than the 67 percent from the previous week across 133 auctions.
It was higher than the equivalent week last year, when 64 percent of auctions were successful.
In Perth, 72 auctions took place this week, with 35 results reported so far. Perth’s preliminary clearance rate of 48.6 percent across these 35 results is higher than both last week’s result (37.5 percent) and the clearance rate from one year ago (31.3 percent).
Canberra’s preliminary auction clearance rate of 71 per cent this week is lower than last week, when the final auction clearance rate was 76 percent and higher than the 61 percent recorded last year. 
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Sydney's stellar weekend of prestige property sales

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Listings in Melbourne are similar to last week but with a late spring market surge expected before the end of the year according to Domain Group’s chief economist Andrew Wilson.
He said in Sydney, Blacktown is the most popular suburb for listings this weekend, with similar auction levels expected this week compared to last.
"The Melbourne market is set to host its biggest spring weekend for auctions next week and the second biggest day of the year when nearly 1400 homes are likely to go under the hammer," he said.
"The inner south will again provide the most auctions this weekend in Melbourne with 183, closely followed also again by the west with 169, the outer east 144, the north-east 131, the inner city 128, the inner-east 116, the north 98 and the south-east 59.
<div>
<div class="infogram-embed" data-id="_/u5MBgODFMacs7muxoCS8" data-title="Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Copy: Melbourne scheduled auctions queen's birthday" data-type="interactive">"Glen Waverley is Melbourne’s most popular auction suburb this weekend with 22, followed by Reservoir with 17, Craigieburn and Hawthorn each with 14, East Malvern and Coburg each with 13 and Brighton with 12 auctions scheduled on Saturday.</div>
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"Nearly 1100 homes are again scheduled to go under the hammer this Saturday, which will be comparable to the 1106 auctioned last weekend but again well below the 1235 auctioned over the same weekend last year. 
"In Sydney, more than 750 homes will go under the hammer, similar to the 760 auctioned last weekend. Although auction activity is typically rising through the late-spring market, numbers remain below last year’s offerings but the gap is narrowing. Last year in the same weekend, 863 auctions were listed and next weekend Sydney is set for its biggest spring day of the year with more than 900 auctions scheduled.
"The city and east will host the highest number of auctions of all the Sydney suburban regions this weekend with 105, followed by the inner west with 101, the south 99, the upper north 93, the lower north 71, the west 59, the northern beaches 55, the south-west 54, the north-west 43, Canterbury-Bankstown 31, the central coast 28 and the Blue Mountains with one auction scheduled for Saturday.
"Blacktown is the most popular auction suburb in Sydney this weekend with 10 followed by Mosman, Lane Cove and Carlingford each with nine and several suburbs with eight auctions listed including Epping, Castle Hill, Maroubra, Beecroft and Paddington."
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Same same for Melbourne, Sydney weekend auction markets

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The REINZ has released its house price data for October, which revealed that Auckland’s median house price jumped by 5.2 percent to $868,000 to be up by 16 percent year-on-year and hitting the highest level on record.
Nationally, house prices fell by 1 percent over October, but were up by 10.9 percent year-on-year: 
<a href="/images/2016/11/14/Screen%20Shot%202016-11-14%20at%201.50.16%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/14/Screen%20Shot%202016-11-14%20at%201.50.16%20PM.png" alt="" width="779" height="273">
 
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Bryan Thomson, REINZ spokesperson said Auckland experienced a lot of strength in the upper end of the market but the lower end appears to be wavering due to the impact of LVRs. 
"The national sales volumes fell by 14 percent in October compared to the same time last year and the number of properties for sale as measured by realestate.co.nz has fallen by almost 7,400 over the past year," he said.
“Our data suggests that the impact of the revised LVR rules is having more of an effect on lower-priced sales compared to higher priced sales, with a surge in the percentage of sales over $1million and a noticeable decline in the number of sales below $400,000 compared to 12 months ago.
<a href="/images/2016/11/14/Screen%20Shot%202016-11-14%20at%201.55.10%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/14/Screen%20Shot%202016-11-14%20at%201.55.10%20PM.png" alt="">
 
"Some of this change may be reflective of the overall uplift in prices over the past year as the market for higher-priced properties is continuing as normal, but the market for lower priced properties is becoming more difficult for both buyers and sellers.
“There is some evidence that the normal spring ‘bounce’ in the number of listings has so far been quite weak this year. One possible reason for this is that the revised rules could be making it harder for people to know whether to sell, as they wonder if there are buyers about, so they hold their properties back from the market. This could have the result that we’re seeing, which is that supply falls but the demand is still there, so prices keep rising.”
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