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 52-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 52-storey tower, which has just shy of 250 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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Australian Supercars driver Rick Kelly secured the $3.7 million weekend sale of his beachfront home at Carrum overlooking Port Phillip Bay.
The sale (below) came soon after the two-storey Nepean Highway house had been passed in at $3.4 million at its Ray White auction.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/07/700_kelly.jpg" alt="" width="552" height="335">
<div class="x_w_ad x_w_unruly">The resort-style property, that features three bedrooms, sold to a local mature-age couple.</div>
<div class="x_w_ad x_w_unruly">
The nation's top sale came elsewhere in Melbourne when the Armadale home of the former Qantas chairwoman Margaret Jackson was sold for $5.84 million (lead image).
<a href="https://www.realestate.com.au/sold/property-house-vic-armadale-125913590" target="_blank" rel="noopener noreferrer">The four-bedroom house</a> saw two bidders compete for the property owned by downsizes, Ms Jackson and her husband, Roger Donazzan.
The Marshall White auctioneer Justin Long opened with a vendor bid of $4.8 million, then declaring it on the market at $5.42 million.
Last traded in 2004 at $2.75 million, it was offered with price hopes of $4.9 million to $5.39 million.
Melbourne's inner east was the only Melbourne region to register a clearance rate below 70 per cent, according to Domain.
The northern suburbs region scored a 91.7 per cent clearance rate on Saturday.
The first weekend of August saw fewer auctions across the capital cities, according to the CoreLogic property data firm which calculated the national clearance rose to 71.5 per cent.
</div>
The capital cities had 1,846 auctions, down from the 1,987 auctions held over the prior week, but still up on a year ago when there were the 1,540 auctions.
The preliminary auction clearance compared with the prior weekend's preliminary clearance of 70.7 percent success rate.
But this was revised to 68.7 per cent after late results, according to Kevin Brogan, the CoreLogic auction analyst.
"Final results have been consistently in the high 60 per cent range since the first week of June," he noted.
Across the two larger auction markets, Melbourne continued to show resilience.
Melbourne's 75.7 per cent result came from 799 reported auctions.
There were 907 auctions held across the city, down from 956 last week when the final auction clearance rate was 75.6 per cent.
The volume was higher than the 724 auctions held one year ago, along with a lower clearance rate of 74.2 per cent last August.
An Albert Park house sold for $5 million.
Located at <a href="https://www.realestate.com.au/property-house-vic-albert+park-125864530" target="_blank" rel="noopener noreferrer">24 Herbert Street</a>, (below) the home came with three bedrooms plus study, along with two bathrooms.
<img src="https://www.urban.com.au/images/2017/08/07/Screen%20Shot%202017-08-07%20at%2011.37.39%20AM.png" alt="">
The home was set behind a striking, original Art Deco facade, of the former Morris Bros Union Dairy on the 327 sqm block.
The property, offered through David Wood at Hockingstuart, had a $4.6 million reserve.
It was a family that eventually came out on top, paying $400,000 above reserve set by the vendor who renovated after the property was bought for $626,400 in 1999.
Melbourne's St Kilda East has the nation's cheapest sale when a one bedroom apartment sold for $307,000.
Located at <a href="https://www.realestate.com.au/sold/property-apartment-vic-st+kilda+east-124621614" target="_blank" rel="noopener noreferrer">22/87 Alma Road</a> (below) the property was marketed as perfect for first home buyers.
<img src="https://www.urban.com.au/images/2017/08/07/Screen%20Shot%202017-08-07%20at%2011.38.48%20AM.png" alt="">
Built in 1960 it was last sold in 2010 for the same price of $307,000.
Across Sydney, 615 homes were taken to auction with a preliminary clearance rate of 71.1 per cent across 477 reported results.
Last week, the final clearance rate for the city was 65.4 per cent, across 714 auctions.
One year ago, 544 Sydney homes were taken to auction and the clearance rate was 77.5 per cent.
The City and Inner South had a success rate of 84.9 per cent and the Inner West at 82.1 per cent.
Sydney's top sale was <a href="https://www.maxwalls.com/buying/search/detail?id=ID223" target="_blank" rel="noopener noreferrer">a three bedroom Mosman apartment</a> (below) that sold for $4.7 million.
<img src="https://www.urban.com.au/images/2017/08/07/Screen%20Shot%202017-08-07%20at%2011.40.11%20AM.png" alt="">
Located at 20B Redan Street, the Balmoral Slopes offering last sold in 1995 for $1.025 million.
The duplex was offered through Max Walls International agent Anthony Walls.
Domain reported over the first seven months of this year, 19,221 Sydney homes had been auctioned - some 31 per cent higher or 4628 more than the 14,593 listed over the same period last year.
There were 153 Brisbane homes taken to auction this weekend, with the preliminary clearance rate at 48.8 per cent, down from 49.6 per cent last week.
Brisbane's Fig Tree Pocket saw <a href="https://www.realestate.com.au/property-house-qld-fig+tree+pocket-125861762" target="_blank" rel="noopener noreferrer">Rivergum Retreat</a> (below), a mansion, owned by former Linc Energy boss Peter Bond, fail to sell at auction.
<img src="https://www.urban.com.au/images/2017/08/07/Screen%20Shot%202017-08-07%20at%2011.42.06%20AM.png" alt="">
<div class="x_in-content-ad">The riverfront seven-bedroom, nine-bathroom mansion on 1.2 hectares was passed in at $9.25 million, $250,000 short of its 2008 purchase price.</div>
<div class="x_in-content-ad"> </div>
<div class="x_in-content-ad">Ray White agent Matt Lancashire marketed it as “one of the most substantial properties in Brisbane."</div>
Bidding between two parties started at $8 million. 
Brisbane's top sale was a five bedroom house at Calamvale for $3.3 million.
Located at <a href="https://www.realestate.com.au/property-house-qld-calamvale-125905222" target="_blank" rel="noopener noreferrer">85 Menser Street</a> (below), the 10,119 sqm property was marketed as having development potential.
<img src="https://www.urban.com.au/images/2017/08/07/Screen%20Shot%202017-08-07%20at%2011.43.08%20AM.png" alt="">
The property was last sold in 2016 for $3.08 million has approval for 38 town houses.
Adelaide recorded a clearance rate of 69.4 per cent across 59 auctions on the weekend, up from 64 per cent across 82 auctions on the prior weekend.
A 1910 stone-fronted Prospect house was among Adelaide's results, selling for $955,000.
Located at <a href="https://www.realestate.com.au/property-house-sa-prospect-125906674" target="_blank" rel="noopener noreferrer">46 Johns Road</a>, (below) the four bedroom 1910 property last sold in 1994 for $165,000.
<img src="https://www.urban.com.au/images/2017/08/07/Screen%20Shot%202017-08-07%20at%2011.44.01%20AM.png" alt="">
Perth’s clearance rate surprised with a 72.7 per cent across 35 auctions.
It was up from the previous week, when 28 auctions were held and a clearance rate of 34.8 per cent was recorded.
Canberra’s preliminary auction clearance rate of 69.6 per cent was lower than last weekend, when the final auction clearance rate was 70.5 per cent and lower than the 74.1 per cent recorded on the same weekend last year.
A five bedroom Hackett house sold for $1.26 million making it Canberra’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-act-hackett-125919762" target="_blank" rel="noopener noreferrer">4 Verco Street</a>, (below) the property is set on the foothills of Mount Majura nature reserve.
<img src="https://www.urban.com.au/images/2017/08/07/Screen%20Shot%202017-08-07%20at%2011.44.47%20AM.png" alt="">
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j.ballantyne1990-6AQqhLzZaK

Australia's top weekend sale in Armadale, Melbourne

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Units in Melbourne, the NSW Central Coast, the Gold Coast and Newcastle are still at the peak of the market according to the August property clock from Herron Todd White.
Apartments in Ballarat are now at the peak of the market, with the Sydney apartment market starting to decline.
<a href="https://www.propertyobserver.com.au/images/2017/08/04/Screen%20Shot%202017-08-04%20at%2010.32.32%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/04/Screen%20Shot%202017-08-04%20at%2010.32.32%20AM.png" alt="" width="669" height="445">
 
Units in Melbourne, the NSW Central Coast, the Gold Coast and Newcastle were at the peak of the market in July, apartments in Cairns, Townsville and the Whitsundays were ranked at the bottom of the market and apartments in Sydney, Ballarat and Dubbo were approaching the peak of market.
In the August report, HTW said Sydney is fast becoming a vertical city, with a change in buyer expectations and a surge in demand for apartment living.
As a result, modern, medium to high density zones are becoming increasingly common with many notable precincts springing up across the city including Green Square at Zetland, Harold Park at Forest Lodge, Discovery Point at Wolli Creek, Central Park in Chippendale as well as developing precincts in Erskineville and Camperdown (to name a few).
"Another example of an investor hot spot is the area known as Kings Cross," HTW said.
"Kings Cross is one of Sydney’s highest density precincts and covers the suburbs of Potts Point, Elizabeth Bay and Rushcutters Bay.
"It is well established, being within two kilometres of the CBD, and has a train station, light commercial buildings and retail spaces.
"Recent changes to laws governing the opening hours of entertainment establishments in the area has allowed the precinct to begin to shed its reputation as a somewhat unsafe nightlife district allowing it to become increasingly popular with investors.
"Investors targeting this area in the past have been seeking the strong rental returns offered by the many small studio and 1-bedroom units.
"It seems to be the trend however that many small studio units have lower levels of capital growth than standard 2-bedroom units for example which we assume is also due to the broader market appeal.
"In western Sydney the new apartment market continues in various degrees throughout all major regional zones with the Liverpool/Fairfield areas as well as Parramatta and The Hills district in particular seeing substantial development.
"The Norwest Railway line currently under construction from Rouse Hill to Epping has resulted in a signi cant increase in unit developments approved or under construction in what is typically considered the burbs, with unprecedented construction occurring particularly in Kellyville.
"This list in western Sydney is continually growing with a record number of unit approvals passed over recent years.
"What these areas have in common is that they all appear to have a high investor contingent although the future of some will depend heavily on an unknown tenant pool with oversupply perhaps becoming a future issue."
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jonathanchancellor-7SQnKwU6yx

Sydney apartment market in decline, Ballarat units at peak: HTW property clock

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An app designed by WA real estate agents, called Open Negotiation allows sellers to pre-approve terms and conditions from people interested in buying their house.
The approved buyers are then able to bid for the property in an online auction, enabling bidders to see what the other parties are offering.
It has attracted listings from agencies including Mint, Abel McGrath, Jones Ballard and The Agency.
“In a normal private treaty we often get calls from the buyers that miss out saying, ‘I would’ve paid that. I found out what you sold it for and I would’ve paid more if I had known what you sold it for’,” said Peter Clements, a real estate agent and one of the brains behind the concept.
“With Open Negotiation I have never enjoyed selling as much, because you can share other people’s prices. All the buyers feel comfortable because if they miss out, they only chose to miss out because they couldn’t pay any more,” he told the local Perth paper.
The app has been operational for five weeks with 17 homes sales since using the technology.
“There’s never ever been another system that pre-contracts and then allows agents to still be involved at the same sort of level,” Mr Clements said.
Clements said while the initial roll-out was in WA, there was interest across Australia.
There were five bidder and eight bids on a Bayswater recent listing, a three bedroom duplex at 117B Milne Street. 
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Open Negotiation Date:  Jul, 25, 2017, 07:00pm (Perth Time)
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Successful Bidder: 3255 $465,000.00
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Bidders Final Offers  
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3255 $465,000.00 Highest
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<div class="auct-detailbox col-lg-12 col-md-12 col-sm-12 col-xs-12">
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7876 $415,000.00
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<div class="auct-detailbox col-lg-12 col-md-12 col-sm-12 col-xs-12">
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3255 $410,000.00
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<div class="auct-detailbox col-lg-12 col-md-12 col-sm-12 col-xs-12">
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7876 $407,000.00
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<div class="auct-detailbox col-lg-12 col-md-12 col-sm-12 col-xs-12">
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5399 $307,000.00
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<div class="auct-detailbox col-lg-12 col-md-12 col-sm-12 col-xs-12">
<div class="property-price">8 Bids 5 Bidders</div>
<div class="property-price">The website advised should a successful sale not be concluded, other bidders will be contacted in order of the last bids.</div>
</div>
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For more information, go to <a href="https://www.openn.com.au/" target="_blank">openn.com.au</a>
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Openn.com.au app advances online residential property auction capabilities

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Werribee in Victoria will be the busiest suburb for auctions across the nation this weekend, with 18 properties scheduled to go to auction, followed closely by Reservoir (14), Frankston (13) and Elwood (12), all of the busiest suburbs this week are in Victoria.
Auction volumes are set to remain steady for another week, with 1,787 properties scheduled to go to auction this week across the combined capital cities, according to CoreLogic.
Over the last three weeks, auction activity has remained relatively sedate, with this week expected to increase by only two per cent when compared to last week’s final results (1,748).
Looking at the two major auction markets of Melbourne and Sydney, volumes are set to increase over the week, with 862 homes scheduled to go under the hammer in Melbourne, and 647 auctions scheduled across Sydney, increasing on last week’s 833 and 625 auctions held respectively.
Across the smaller auction markets, Adelaide and Brisbane will see an increase in auction activity over the week, while Canberra, Perth and Tasmania will see a lower volume of auctions scheduled this week compared to last week.
The total number of homes scheduled to go to auction this week is higher than what was seen over the same week last year (1,610).
A three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-werribee-125783266" target="_blank">28 Purchas Street</a>, Werribee (above) will go under the hammer this weekend with price guidance between $395,000 to $430,000.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-werribee-125893210" target="_blank">2 Eldan Drive</a>, Werribee (below) will go under the hammer with $440,000 hopes.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/27/2%20Eldan%20Drive.jpg" alt="">
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Werribee ranks as weekend's busiest auction locality

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Melbourne ranks as the strongest auction market around the capital city markets recording the highest preliminary clearance rate at 79.4 per cent.
There were the 676 reported auctions sold, CoreLogic calculated.
There were 816 Melbourne properties taken to auction across the city, up from 756 last week when the final clearance rate was recorded at 74.9 per cent.
Over the same week last year, 572 Melbourne auctions were held and a clearance rate of 71.6 per cent was recorded.
The strongest success rate was in Melbourne's North West region, where 90.1 per cent of the 71 reported auctions were successful.
Melbourne's top sale was a Balwyn North offering that sold for $2.668 million as a development site.
Located at <a href="https://www.realestate.com.au/sold/property-house-vic-balwyn+north-125761814" target="_blank">1120 Burke Road</a>, (above) the 993 sqm property with three bedroom 1950s home is surrounded by apartments and townhouses complexes.
The property, which last sold in 1980 for $65,000, was offered through Noel Jones agents David Fileccia and Greg Bowring.
Melbourne's highest home sale was a <a href="https://www.realestate.com.au/sold/property-house-vic-fitzroy-125806890" target="_blank">six-bedroom Georgian-style home</a> at 201 Gore Street, Fitzroy that Domain reported sold to an upsizing family from Northcote for $2.59 million.
Sydney was host to 613 auctions with a 74.9 per cent clearance rate, rising from 69.2 per cent last week across 609 auctions.
"The final clearance rate for Sydney has been trending below 70 per cent for the last six weeks, although it has been nudging higher over the last two weeks," CoreLogic noted.
Sydney's top sale was an award winning house at Manly on the Northern Beaches which fetched $5.2 million.
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-manly-125714870" target="_blank">5 College Street</a>, the 695 sqm property won the Building Designers Australia award in 2012.
The interiors designed by Hare + Klein have featured in numerous design magazines.
James Cooper of Sanctum Design envisioned the coastal contemporary residence near Manly Beach in Sydney to capture the essence of a relaxed 1950s beach shack in a modern suburban beachside setting.
As well as the Premier's Award for Design Excellence, the beach house won for New residential buildings over 450 sqm.
There were six bedrooms and four bathrooms with the master suite having its own ensuite and balcony.
There was also a self-contained studio/guest apartment.
Outside in the landscaped gardens is a fire pit and heated lap pool plus spa.
The property was offered through Clarke &amp; Humel agents Michael Clarke and Cherie Humel.
Seven of the 15 Sydney sub-regions recorded clearance rates above 75 per cent with the stand out being the Northern Beaches at 92.3 per cent.
In the Eastern Suburbs around 89.2 per cent of listings found buyers, followed by North Sydney and Hornsby (83.6 per cent) and City and Inner South (78.3 per cent) regions.
The combined national capital city preliminary clearance rate rose to 74.8 per cent this week, up from a revised final clearance rate of 69.4 per cent last week, while auction volumes increased week-on-week.
There were 1,712 properties taken to auction this week, up from 1,627 last week, and higher than this time last year, when 1,329 auctions were held and a clearance rate of 67.9 per cent was recorded.
All but Adelaide saw the clearance rate increase week-on-week.
In Adelaide, a 69 per cent preliminary result was recorded across 73 auctions.
Last weekend, the 64 Adelaide auctions returned a clearance rate of 69 per cent for the city.
A sandstone Rose Park house sold for $1.605 million making it Adelaide’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-sa-rose+park-125882334" target="_blank">8 Hewitt Avenue</a>, the 1900 three bedroom property last sold in 1995 for $307,500.
The preliminary clearance rate in Brisbane rose to 50.6 per cent, from 41.7 per cent last week. Auction volumes were slightly higher this week with 126 auctions held, up from 116 last week.
A two bedroom Indooroopilly unit sold for $292,500 making it the nation's cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-unit-qld-indooroopilly-125804670" target="_blank">3/55 Central Avenue</a>, the 97 sqm property is one of only six in the block.
It was last sold in 1993 for $125,000.
Perth’s clearance rate of 73.3 per cent across 15 auction results was up from last week, when 35 auctions were held and a clearance rate of 46.2 per cent was recorded.
Over the same week last year, the clearance rate was a lower 33.3 per cent, and 22 auctions were held.
Across Canberra, 46 homes were taken to auction on the weekend.
Preliminary results show a clearance rate of 73.3 per cent, up from 68.9 per cent the previous weekend.
A Forrest house sold for $4.22 million making it Canberra’s most expensive weekend auction sale which sold through Peter Blackshaw agent Mario Sanfrancesco..
Located at <a href="https://www.realestate.com.au/property-house-act-forrest-125816690" target="_blank">5 Moresby Street</a>, the property last sold in 2001 for $2.14 million.
 
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Melbourne ranks as the strongest capital city auction market

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Some 72.9 percent of the 660 Sydney auction listings were sold, up from last weekend, when the final clearance rate for the city was 68.6 percent.
Melbourne was the best performing city with 77.4 percent of the 667 results recording a successful result.
Adelaide was strong too with a 75 percent clearance rate.
The national auction volumes were down for the fourth consecutive winter week, with school holidays contributing to the reduced stock levels, according to CoreLogic's latest report.
However the auction clearance rate has risen.
The number of homes taken to auction across the capital cities with just 1,612 auctions held this week, down from 1,766 last week,
It was higher than this time last July when 1,391 properties went under the hammer.
The combined capital city preliminary clearance rate increased to 72.4 percent this week, up from the final clearance rate of 68.4 per cent last week, although this will revise as more results are collected, CoreLogic auction analyst Kevin Brogan said.
Sydney's Baulkham Hills and Hawkesbury region recorded the strongest clearance rate of 94.1 percent across 21 auctions, followed by the Eastern Suburbs (84.2 percent).
Melbourne's strongest clearance rate was recorded across the Outer East, with 90.9 percent of the 55 reported auctions clearing, followed by the South East region with a clearance rate of 86.2 percent.
At Northcote the house of Collingwood AFL midfielder Levi Greenwood was passed in at $1.28 million, but sold shortly afterwards to the highest bidder for $1,307,500.
The single-fronted Edwardian on <a href="https://www.realestate.com.au/property-house-vic-northcote-125754366" target="_blank">Arthurton Road </a>(above) was bought unrenovated in late 2014 for $725,000, shortly after joining the Pies from North Melbourne.
Its Ray White Northcote selling agent Angelo Bafunno had quoted $1.25-$1.35 million for the house, which features a self-contained two-bedroom bungalow at the back.
There were 116 Brisbane homes taken to auction, with 87 results reported so far.
The preliminary clearance rate for Brisbane was 44.8 per cent, down from 55.7 per cent last week and lower than one year ago, when 47 per cent of the 120 properties taken to auction were successful.
The nation's cheapest mainland result was a <a href="https://www.realestate.com.au/property-house-qld-haigslea-125740370" target="_blank">three bedroom Haigslea house </a>(below) near Ipswich that sold for $277,000.
<img src="https://www.urban.com.au/images/2017/07/17/Screen%20Shot%202017-07-17%20at%209.20.22%20AM.png" alt="">
Located at 304 Haigslea Malabar Road, the house sat on a 3843 sqm block with paddock views which last traded in 2012 at $325,000.
There was <a href="https://www.realestate.com.au/property-house-tas-riverside-125815470" target="_blank">a $160,000 one bedroom house sale</a> (below) at Riverside, near Launceston in Tasmania.
<img src="https://www.urban.com.au/images/2017/07/17/Screen%20Shot%202017-07-17%20at%209.21.18%20AM.png" alt="">
The top sale around the nation was in Sydney when a harbour-view five bedroom house at Balgowlah Heights sold for $3.55 million.
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-balgowlah+heights-125617790" target="_blank">15 Fisher Street</a>, (below) the 841 sqm property has a 1980s house was was last sold in 2015 for $2.875.
<img src="https://www.urban.com.au/images/2017/07/17/Screen%20Shot%202017-07-17%20at%209.22.28%20AM.png" alt="">
The property was offered through Clarke &amp; Humel Property agents Kingsley Looker and Michael Clarke.
This week, Adelaide saw a preliminary clearance rate of 75 percent, with 36 reported results across a total of 65 scheduled auctions.
In comparison, over the previous week Adelaide’s clearance rate was 59.6 per cent and 54.7 per cent one year ago.
Adelaide prices ranged between $300,000 and $781,000.
A three bedroom 1960s house on 800 sqm at Marryatville sold for $781,000 at <a href="https://www.realestate.com.au/property-house-sa-marryatville-125761978" target="_blank">1 The Crescent</a> (below).
<img src="https://www.urban.com.au/images/2017/07/17/Screen%20Shot%202017-07-17%20at%209.23.25%20AM.png" alt="">
A three bedroom Ingle Farm house sold for $300,000 making it Adelaide’s cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-sa-ingle+farm-125768690">3 Haydn Street</a> (below), the property marketed to first home buyers, investors and downsizes last sold in 2006 for $178,000.
<img src="https://www.urban.com.au/images/2017/07/17/Screen%20Shot%202017-07-17%20at%209.24.13%20AM.png" alt="">
There were 33 Perth auctions this week and so far 18 results have been reported, with 44.4 percent selling.
Canberra’s preliminary auction clearance rate of 72.7 percent across 39 auctions is higher than both last week, when the final auction clearance rate was 62.7 percent, and last year (63.3 percent).
In Yarralumla four bidders competed for <a href="https://www.propertyobserver.com.au/https://www.allhomes.com.au/ah/act/sale-residential/arkana-street-yarralumla-canberra/1317347820311" target="_blank">3B Arkana Street</a> (below), a five-bedroom house on a 1393-square-metre block with resort-style facilities, which Domain reported sold for $2.46 million
<img src="https://www.urban.com.au/images/2017/07/17/Screen%20Shot%202017-07-17%20at%209.25.25%20AM.png" alt="">
Tasmania saw six auctions take place this week and five results have been reported so far, with three sales.
 
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National auction volume down for fourth consecutive winter week

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There were more homes for auction in Melbourne and Sydney in the past six months than at any time over the past two years.
Over the first six months of the year, Sydney had 16,370 auction listings, a 29 percent increase on the 12,708 over the same period last year.
It was also a 5.7 percent gain on the 15,486 of the first six months of 2015, Domain Group figures show.
Melbourne showed a similar pattern, with 18,175 auction listings in the first half, a 13 percent gain on last year's 16,083 and 10.2 percent higher than the 16,486 in the first half of 2015.
The increase in auction listings from last year is partly due to the quiet start of 2016, when owners delayed putting their homes on the market after a surprisingly quiet final quarter of 2015, when prices fell fell in the two largest cities and the average auction clearance rate fell from 73.4 percent in the September quarter to 62.1 percent.
There was also a Federal election that interrupted the 2016 market.
"There's been a real rush into the marketplace this year for both Melbourne and Sydney," Domain chief economist Andrew Wilson told Domain.
"The market did rebound with lower interest rates last year and the end of last year was quite strong for markets.
"Perhaps there's also a sense of the market peaking."
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More 2017 property auctions than in the past two years

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Tasmania, which garnered international attention last week when Hobart appeared on the latest Knight Frank global list of the top 50 cities with strongest price growth, secured the nation's cheapest weekend auction result.
It was when $140,000 was paid for a three bedroom weatherboard home at Montello, the <a href="https://www.realestate.com.au/sold/property-house-tas-montello-125668178" target="_blank">north coast Burnie suburb</a> (below).
<img src="https://www.urban.com.au/images/2017/07/10/Screen%20Shot%202017-07-10%20at%2011.27.15%20AM.png" alt="">
It was snapped up pre-auction, one of the state's 10 weekend auction listings.
<img src="https://www.urban.com.au/images/2017/07/10/Screen%20Shot%202017-07-10%20at%2011.28.23%20AM.png" alt="">
"There was the ability to glimpse Bass Strait from the front rooms of this wonderful property," the Harcourts marketing of 25 Morse Street advised.
<img src="https://www.urban.com.au/images/2017/07/10/Screen%20Shot%202017-07-10%20at%2011.25.54%20AM.png" alt="">
Five of the eight known Tasmanian results found buyers, topped by <a href="https://www.realestate.com.au/property-house-tas-howrah-125703610" target="_blank">a $500,000 sale at Howrah</a> in Hobart (below).
<img src="https://www.urban.com.au/images/2017/07/10/Screen%20Shot%202017-07-10%20at%2011.31.37%20AM.png" alt="">
It was marketed as a "weathered, but charming three bedroom home that captures picturesque views of the River Derwent and Mount Wellington."
Hobart was the newcomer on the Knight Frank list of the top 50 cities whose property prices have risen the most in the world, leaping to 34th spot, only 11 places behind Sydney and 10 behind Melbourne, after its annual price growth of 11.3 per cent. 
On the mainland, after more than 100 groups through, the former AFL ruckman Angus Graham scored a $202,000 over reserve result when his Yarraville townhouse sold at weekend auction.
The three-bedroom timber<a href="https://www.realestate.com.au/property-townhouse-vic-yarraville-125674450" target="_blank"> inner west of Melbourne property</a> (below) was sold for $1.152 million to a local family by the former Richmond and Adelaide player.
<img src="https://www.urban.com.au/images/2017/07/10/Screen%20Shot%202017-07-10%20at%2011.32.35%20AM.png" alt="">
The final two of the four bidders went toe-to-toe from $1 million, the Herald Sun reported.
The HockingStuart agency had been quoting $900,000 to $950,000. The strata townhouse last sold for $663,000 seven years ago to the carpenter.
Across Melbourne, there was a 73.9 per cent success rate of the 716 reported auctions. It was the nation's highest capital city clearance rate with one in six sold before the scheduled auction.
There were 812 properties taken to auction across Melbourne, down from 874 last week when the final clearance rate was recorded at 70.8 per cent.
Over the same week last year, 619 auctions were held and a clearance rate of 71.8 per cent was recorded.
The nation's top sale was in Sydney when a three bedroom McMahons Point terrace that sold for $4.05 million through through Stone agents Annika Bongiorno and Aaron Bongiorno.
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-mcmahons+point-125673478" target="_blank">2/12 Commodore Street</a>, (below) the lower North Shore offering had views of Sydney Harbour.
<img src="https://www.urban.com.au/images/2017/07/10/Screen%20Shot%202017-07-10%20at%2011.33.39%20AM.png" alt="">
Built in 2005, it was last sold in 2011 for $1.648 million. The lower north reported the highest clearance rate at the weekend, with a booming 81.3 per cent result, Domain noted.
Domain figures showed an overall Sydney clearance rate of 71.5 per cent on Saturday, up from 69.7 percent the week before.
The bounceback in clearance rates was also apparent in CoreLogic data that noted Sydney was host to 650 auctions this week with a 72.5 per cent success rate, rising from 68 per cent last week across 840 auctions.
The national auction clearance rate sat at 70.7 percent, up from 67.3 per cent last week, while winter bauction volumes fell week-on-week.
There were 1,751 properties taken to auction this week, down from 2,001 last week, although higher than this time last year, when 1,399 auctions were held and a clearance rate of 70.6 per cent was recorded.
Almost all the capital cities saw the clearance rate increase week-on-week, CoreLogic auction analyst Kevin Brogan noted.
Adelaide however saw a decline to a 56.1 per cent preliminary result across 61 auctions, down on the prior weekend's 80 auctions which returned a clearance rate of 60.6 per cent.
The top sale in Adelaide was a four bedroom Linden Park house that sold for $1.12 million.
Located at <a href="https://www.realestate.com.au/property-house-sa-linden+park-125704398" target="_blank">26 Sturdee Street</a>, the 841 sqm corner four bedroom property has been marketed as a rare investment opportunity.
<img src="https://www.urban.com.au/images/2017/07/10/Screen%20Shot%202017-07-10%20at%2011.34.41%20AM.png" alt="">
The 1954 property, last sold in 2009 for $655,000, is leased to tenants until January 2018.
The nation's cheapest mainland auction result was outside of Brisbane where a four bedroom Beaudesert house was sold for $275,000.
Located at <a href="https://www.realestate.com.au/sold/property-house-qld-beaudesert-124619862" target="_blank">52 Meridian Way</a>, (below) the property sold at under the median price of a house in Beaudesert which is $320,000.
<img src="https://www.urban.com.au/images/2017/07/10/Screen%20Shot%202017-07-10%20at%2011.37.34%20AM.png" alt="">
The preliminary clearance rate in Brisbane on the weekend rose to 57.7 per cent, up from 51.6 per cent.
Brisbane auction volumes were only slightly lower with 112 auctions held, down from 118 last week.
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The Domain chief economist Andrew Wilson suggested the extra strength in the national auction market was probably the result of first home buyer activity after the introduction of greater grants and concessions.
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<div class="cq-article-content-paras section">
"It is going to take a few weeks to know but I think the first home buyer activity is making a difference. There is definitely a bounce back," Mr Wilson told Domain.
"We probably would have expected the clearance rate to fall otherwise."
But Sydney's cheapest sale was to an investor through Laing+Simmons agency that secured a $410,000 sale of a 1970s unit at <a href="https://www.realestate.com.au/property-unit-nsw-bankstown-125708838" target="_blank">45/127 Chapel Road, Bankstown</a> (below).
<img src="https://www.urban.com.au/images/2017/07/10/Screen%20Shot%202017-07-10%20at%2011.38.32%20AM.png" alt="">
The marketing offered a $390,000 price guidance for the two bedder that last sold at $27,500 in 1978.
Melbourne's cheapest result was when a two bedroom house at Melton South fetched $280,500.
Located at <a href="https://www.realestate.com.au/property-house-vic-melton+south-125669682" target="_blank">1/33 Staughton Street</a>, (below) the 1990s property was last sold in 2001 for $85,000.
<img src="https://www.urban.com.au/images/2017/07/10/Screen%20Shot%202017-07-10%20at%2011.39.49%20AM.png" alt="">
Melbourne's dearest result was in Albert Park, where eight bidders vied for a large unrenovated Victorian home.
Last sold seven decades ago ago, the 320 sqm holding at <a href="https://www.realestate.com.au/sold/property-house-vic-albert+park-125702086" target="_blank">16 Greig Street</a> (below) sold to a local family for $3,560,000 through Greg Hocking Real Estate, well above its $3 million reserve.
<img src="https://www.urban.com.au/images/2017/07/10/Screen%20Shot%202017-07-10%20at%2011.40.45%20AM.png" alt="">
Across Canberra, 65 homes were taken to weekend auction with the preliminary results showing a clearance rate of 63 per cent, down from 71.4 per cent the previous week.
A four bedroom Hughes, ACT house sold for $1.701 million making it Canberra’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-house-act-hughes-125722674" target="_blank">38 Lynch Street</a>, (below) it had last sold in 2012 for $1.38 million. 
<img src="https://www.urban.com.au/images/2017/07/10/Screen%20Shot%202017-07-10%20at%2011.41.44%20AM.png" alt=""> 
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jchancellor-FAypfDUnLy

Tasmania secures cheapest weekend auction result

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The much anticipated July 1 stamp duty savings for first time buyers came into effect on Saturday in NSW and Victoria, though the impact wasn't immediately overly obvious.
"It is still a sellers' market," the Domain auction commentator Dr Andrew Wilson advised.
He suggested the market was likely inflated by first-home buyers "or certainly supported by them."
Despite the onset of winter, and school holidays, continued overall strong buyer demand triggered a small uptick in the national auction success rate.
Brisbane had the nation's cheapest sale when a townhouse at Woodbridge fetched $245,000 in pre-auction negotiations.
Located at <a href="https://www.realestate.com.au/property-townhouse-qld-woodridge-124939366" target="_blank">23/45-47 Defiance Street</a>, the three bedroom property has been a $330 a week rental for its South Australian investors.
They had paid $314,000 in 2009. They had been looking to sell since 2016 when they sought $280,000.
Melbourne's cheapest was a one bedroom unit at Essendon sold for $291,000.
Located at <a href="https://www.realestate.com.au/sold/property-unit-vic-essendon-125666794" target="_blank">10/30 Richardson Street</a>, the 1970s apartment last sold in 2009 for $252,500.
Sydney's cheapest auction result was a $455,000 pre-auction sale of a studio apartment in Darlinghurst.
The <a href="https://www.realestate.com.au/sold/property-studio-nsw-darlinghurst-125661238" target="_blank">17/257-261 Darlinghurst Road offering</a> in the 1880s The Statler complex last sold at $250,000 in 2011.
The agents suggested it had a potential $400 a week rental income.
The nation's dearest weekend sale was an original condition 1960s Armadale house which sold for $5.2 million, Melbourne’s most expensive weekend auction result.
Located at <a href="https://www.realestate.com.au/sold/property-house-vic-armadale-125647978" target="_blank">52 Adelaide Street</a>, the five bedroom, three bathroom home on 761 sqm has the potential to be renovated, rebuilt or redeveloped, according to Marshall White selling agents Marcus Chiminello and Nicole French.
The national clearance rate edged back to the lows 70s%, according to CoreLogic.
It was higher than the 69% preliminary rate which sat at 66% after late results, the lowest clearance rate since June 2016.
The combined capital city preliminary clearance rate was 70.3 per cent on the first July weekend.<a href="https://www.propertyobserver.com.au/images/2017/07/02/Screen%20Shot%202017-07-02%20at%2011.07.33%20am.jpg" target="_blank"> </a>
"Auction clearance rates have been trending lower since reaching a peak at the end of February 2017 when the combined capitals clearance was recorded at 78.4%," Kevin Brogan, the CoreLogic auction analyst said.
Auction volumes were lower this week with 1,984 homes taken to auction across the combined capital cities, down from 2,355 last week.
The volume was significantly higher than this time last year when auction volumes were quieter due to the Federal Election when only 841 homes were taken to auction.
Melbourne had the highest number of auctions, with 866 properties going to market, followed closely by Sydney with 832 homes going under the hammer.
Across Melbourne, 71.9 per cent sold amid the 750 reported auctions.
This was down from 1,047 last week when the final clearance rate was 70.7 per cent.
Melbourne's strongest clearance rate was recorded across the North East, with 80.8 per cent of the 99 reported auctions clearing.
There was no sale when <a href="https://www.realestate.com.au/property-house-vic-templestowe-125639230" target="_blank" rel="noopener noreferrer">7 Watties Rd, Templestowe</a>, one of the suburb’s original farmhouses, was offered.
Built in the early 1900s, the two-bedroom weatherboard cottage on 1.37ha, now comes with a $2.6 million asking price through Steve Schumann, of Fletchers Manningham.
It last sold in 1991 at $362,000.
In Sydney, 832 properties were taken to auction this week with a preliminary clearance rate of 72.6 per cent, increasing from last week, when the final clearance rate for the city was 68.2 per cent across 939 auctions.
One year ago, just 365 Sydney homes were taken to auction and the clearance rate was 78.4 per cent.
Sydney’s Ryde region had the strong result at 89.7 per cent and followed by Sutherland's 84 per cent.
There were 119 Brisbane homes taken to auction on the weekend, with 77 results reported so far.
A Manly house sold for $1.42 million making it Brisbane’s most expensive weekend auction.
Located at <a href="https://www.realestate.com.au/property-house-qld-manly-125609666" target="_blank">12 Kooralgin Street</a>, the 483 sqm property is positioned on Manly Hill with harbour views.
Brisbane's preliminary clearance rate was 54.5 per cent, up from 33.3 per cent last week and higher than one year ago, when 35.6 per cent of the 68 properties taken to auction were successful.
Adelaide saw a preliminary clearance rate of 62.5 per cent, with 56 reported results across a total of 79 scheduled auctions.
In comparison, over the previous week Adelaide’s clearance rate was 68.5 per cent and 62.3 per cent one year ago.
The Adelaide results included a 1930s Hawthorn house for $1.125 million.
Located at <a href="https://www.realestate.com.au/property-house-sa-hawthorn-125711646" target="_blank">21 Sussex Terrace</a>, the art deco-style property was originally built as a doctor’s residence with consulting room.
Built in 1938, it was last sold in 2008 for $880,000.
There were 43 Perth auctions with 50 per cent selling. Last week there was a 39.6 per cent clearance rate for Perth.
Canberra’s preliminary auction clearance rate of 75.8 per cent across 36 auctions is higher than both last week, when the final auction clearance rate was 67.2 per cent, and last year (54.2 per cent).
A four bedroom Red Hill, ACT house sold for $1.4 million making <a href="https://www.realestate.com.au/property-house-act-red+hill-125670706" target="_blank">12 Hicks Street</a> Canberra’s most expensive weekend auction sale.
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First home buyers take July 1 stamp duty savings changes without any frenzy

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Australian cricketers are trading in and out of Brisbane's blue chip suburb of Windsor.
Opening Test batsman Usman Khawaja has sold his investment property on B<a href="https://www.realestate.com.au/sold/property-house-qld-windsor-124633414" target="_blank">owen Street for $960,000</a>, (above) having spent $2.75 million upgrading to Holland Park last year.
The four bedroom home cost Khawaja $880,000 in 2014 after returning from playing for Lancashire in England.
After buying the home Khawaja immediately leased at $900 a week while he shared a place in Hawthorne with teammate Ben Cutting. It represented a 5.3 percent yield.
McGrath Bulimba - Balmoral agent Glenn Bool sold the home after 62 days. He had a guide of between $950,000 and $1.05 million.
Less than 500 metres away, the big hitting Chris Lynn, who recently starred in the IPL representing the Kolkata Knight Riders, has just <a href="https://www.realestate.com.au/sold/property-house-qld-windsor-122802058" target="_blank">settled on a $1.7 million home</a>.
The luxury family home was renovated before Lynn's recent purchase.
It has six bedrooms, five bathrooms, a games room and a heated swimming pool.
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