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<a href="https://www.apartments.com.au/developers/doma-group">DOMA Group</a> has unveiled plans for Newcastle Quay, a major waterfront precinct set to reshape Newcastle’s harbourfront and further cement the city’s evolution into one of Australia’s fastest-growing urban destinations.

Positioned on a prominent site within the Honeysuckle Precinct, Newcastle Quay will span both sides of Honeysuckle Drive, connecting directly to the Foreshore Promenade and sitting within walking distance of Newcastle Interchange.

The mixed-use precinct is planned to include around 1,000 apartments, more than 28,000 sqm of commercial office space, 6,000 sqm of retail, and a 180-room hotel anchored by a 500-seat conference and exhibition centre, a move expected to significantly lift Newcastle’s ability to attract major business and tourism events.
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<img alt="DOMA Group unveil Newcastle’s future with transformative Newcastle Quay Precinct" data-entity-type="file" data-entity-uuid="0642ca09-67cc-4920-8a7e-d18df9729b4e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/%3D.png?VersionId=CnDmZxQnOV5LN0ePu7jaFBXC9tPGTrWm" />

The proposal builds on DOMA’s growing Newcastle pipeline, where the developer has already delivered 866 apartments and more than 19,000 sqm of commercial and retail space since entering the market in 2013. A further $2 billion pipeline is also in the works across the city.

The masterplan and executive architecture are led by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, with building concepts developed alongside Stewart Architecture, Architecture AND and Curious Practice, and landscape design by <a href="https://www.apartments.com.au/landscape-architect/turf-design">Turf Design Studio</a>. More than 11,000 sqm of open space is planned, including a new waterfront park known as Honeysuckle Green, upgrades to Tree of Knowledge Park, and new pedestrian and cycling links throughout the precinct.

At the centre of the development will be the heritage-listed Wickham School of Arts, which DOMA plans to reposition as the civic and cultural heart of the precinct through restaurants, bars, events and public gathering spaces.

The broader vision is to create a genuine day-to-night precinct, blending residential, hospitality, retail, commercial and cultural uses in a way Newcastle has yet to experience at this scale.

DOMA Group Managing Director Jure Domazet said the aim was to create a precinct that becomes synonymous with Newcastle itself.

“Our vision is to create a precinct that not only delivers high-quality commercial, residential, and cultural spaces, but also defines Newcastle’s waterfront for generations to come,” Domazet said.

DOMA’s Chris Farrington said the project would fundamentally change how Newcastle is perceived nationally.

“Newcastle Quay is more than a waterfront precinct, it is a national announcement for this city,” Farrington said.

“A world-class Conference and Exhibition Centre will open Newcastle and the Hunter Region to a national and international audience for the first time, delivering something this city has long deserved.”

The project is expected to generate more than 4,000 full-time equivalent jobs and act as a major economic driver for the Hunter region through tourism, business events, hospitality and commercial investment.

&nbsp;

&nbsp;

Minister for Planning and Public Spaces Paul Scully said the final parcel of harbourfront land will be a "true mixed-use precinct destination that includes housing, hospitality and entertainment, commercial spaces, retail, economic and social outcomes."

Joel Robinson

DOMA Group unveils 1,000-apartment Newcastle Quay precinct

ASX-listed developer Stockland is continuing to ramp up its return to the apartment market.

In late 2024, <a href="https://www.apartments.com.au/developers/stockland">Stockland</a> announced it would resume apartment development after a 13-year absence, launching with Stanton Place in Rosebery, a 144-apartment project now under construction.

Last week, the developer unveiled plans alongside the NSW Government for a <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-nsw-gov-unveils-plans-for-3-300-home-waterloo-south-renewal">3,300-home precinct in Waterloo</a>.

Now, Stockland has shifted its focus in St Leonards, lodging a State Significant Development Application (SSDA) to replace an approved 42-storey office tower with a 52-storey residential development comprising more than 500 apartments.

<img alt="Stockland" data-entity-type="file" data-entity-uuid="8979095e-9072-432b-a7da-58b180cf994d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-20%20at%204.27.36%E2%80%AFPM.png?VersionId=_jbRXYOafCSHjwsz.yQCNIymMyCj8zkF" />

An existing 14-storey commercial office building would make way for a 264.5-metre tower designed by <a href="https://www.apartments.com.au/architects/bates-smart">Bates Smart</a>. The project would deliver 538 apartments, including 30 affordable housing units, alongside retail and commercial uses at the podium and ground plane.

It will rise from&nbsp;<a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">601 Pacific Highway</a>, a prominent 2,844 sqm triangular site adjoining Mitchell Plaza and fronting Pacific Highway.

The development is being pursued under the Housing Delivery Authority pathway after Stockland’s proposal was declared State Significant Development earlier this year.

<img alt="First look: Stockland plans 52-storey mixed-use tower with 538 apartments in St Leonards" data-entity-type="file" data-entity-uuid="67f40f35-0458-47ab-80c0-a4e98a31838a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%201.png?VersionId=rxXe3njr.auuGDuiR0k42uI8Zr4K.gZA" />

The apartment mix includes 217 one-bedroom apartments, 191 two-bedroom apartments, 122 three-bedroom apartments, and eight four-bedroom residences. Six basement levels would accommodate 300 car spaces, bicycle parking, loading areas, and building services.

Bates Smart said the project has been shaped around a series of urban design principles intended to improve the pedestrian experience and respond to the evolving character of St Leonards.

“With a boundary length of almost 75m along Pacific Highway and 70m along Atchison Street to the north, complying simply with the LEP envelope and required setbacks would result in a very wide tower form on the skyline,” the architects noted in the Design Report.

“We propose breaking the tower form into two defined volumes rather than a singular form.”

The podium has similarly been articulated into separate forms to reduce perceived bulk and create a finer-grain response to Mitchell Plaza and Atchison Street. Retail tenancies would activate the lower levels, while commercial space is proposed across the podium floors.

<img alt="First look: Stockland plans 52-storey mixed-use tower with 538 apartments in St Leonards" data-entity-type="file" data-entity-uuid="90149990-0551-40d2-bd48-14b69a015d12" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%202.png?VersionId=MJC2KIIWFvU9FPGr3IVq09gkRN_gX3m8" />

The design also places a significant emphasis on communal amenity and environmental performance. Residents would have access to landscaped terraces, wellness areas, flexible workspaces, and rooftop communal facilities, while the all-electric building is targeting an average 7-star NatHERS rating. Bates Smart said the project incorporates passive design measures including natural ventilation, integrated shading, and lightweight façade systems.

Planning documents note the site is around 350 metres from St Leonards Station and 400 metres from the metro entrance, placing it within one of Sydney’s most connected emerging residential precincts.

The project arrives amid a wave of large-scale redevelopment proposals reshaping the St Leonards and Crows Nest skyline. Several nearby sites have recently been approved, lodged, or declared under the Housing Delivery Authority pathway as the precinct absorbs significant residential density uplift tied to transit-oriented development policies.

<img alt="Stockland" data-entity-type="file" data-entity-uuid="7805bd7c-dfd7-4b35-8e15-ec4a8bf8e61b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-20%20at%204.27.26%E2%80%AFPM.png?VersionId=iY12K2m2bQ6EeDnshqfZC9rbLx_oEugP" />

Bates Smart’s report describes St Leonards as transitioning away from its historical commercial identity toward a more mixed-use urban environment.

“In recent years, the character of St Leonards has started to evolve, driven by new development trends along the Pacific Highway corridor,” the report said.

“These projects have increasingly focused on residential accommodation, marking a shift from its purely commercial roots.”

Sekisui House Australia is currently selling Waterstone down near Newlands Park, in a pocket being branded "St Leonards South." Hyecorp recently completed Audrey in the same pocket.

First look: Stockland plans 52-storey, 538-apartment St Leonards tower

ANZ believes the Reserve Bank is in no rush to move again.

Following the release of the May Monetary Policy Board Minutes, ANZ has taken the view that the RBA is now firmly in a holding pattern, with the cumulative impact of previous rate hikes giving the Board scope to assess how the economy evolves from here.

That positioning, in ANZ’s view, makes a June rate hike unlikely.

The bank continues to expect the cash rate to remain unchanged at 4.35 per cent for an extended period, with the RBA adopting what is effectively a wait-and-see approach.

The Minutes point to a Board that sees financial conditions as already restrictive, but without a clear read on just how restrictive they are. That uncertainty has shifted the focus away from immediate policy action and toward monitoring both domestic conditions and global developments, particularly the conflict in the Middle East.

As ANZ interprets it, the Board is deliberately avoiding strong forward guidance.

Instead, it is allowing itself flexibility, acknowledging that monetary policy has limited ability to influence the near-term trajectory of inflation, while also recognising that economic growth is likely to remain below potential for some time.

Despite that pause in momentum, ANZ notes that the Board still carries a tightening bias.

The Minutes reveal that, in weighing up its decision, the Board seriously considered another 25 basis point increase. The key debate centred on the trade-off between inflation and activity, particularly in the context of global uncertainty.

Ultimately, most members leaned toward the inflation side of that equation.

Underlying inflation is still expected to remain above target for an extended period, regardless of how external risks evolve. That has led to a view within the Board that the risks to its inflation objective have increased, and that the current cash rate may not be sufficiently restrictive to fully contain those pressures.

That’s important.

While the decision, for now, is to hold, the underlying tone of the Minutes suggests the door to further tightening has not been closed.

ANZ also points to commentary from Assistant Governor (Economic) Sarah Hunter, who highlighted the risk that inflation could pass through the economy more quickly and broadly than in previous cycles. Both Hunter and a majority of the Board expressed concern that inflation expectations could become less anchored after such a prolonged period above target.

That combination, persistent inflation and the risk of expectations shifting, is what continues to underpin the RBA’s cautious stance.

However, where ANZ diverges from the RBA is on the outlook for activity.

The Board appears relatively comfortable with current spending patterns, effectively downplaying recent declines in business and consumer sentiment. It notes that sentiment has historically been only weakly correlated with actual spending, and that feedback from its liaison program has not yet pointed to a meaningful slowdown in consumption.

ANZ is less convinced.

The bank believes the link between household disposable income, sentiment and spending is more direct than the RBA is currently acknowledging. With inflation continuing to erode real incomes, ANZ expects household spending to soften more materially than the central bank is forecasting.

That divergence matters because it shifts the balance of risk.

If activity weakens more than expected, the trade-off between inflation and growth changes. In ANZ’s view, that would reduce the need for further tightening and reinforce the case for the RBA to remain on hold.

It also suggests that the current policy setting may already be doing more work than the Board fully appreciates.

The broader takeaway from ANZ’s interpretation is that the RBA is walking a narrow path.

On one side sits the risk of inflation remaining elevated for longer than expected. On the other is the growing pressure on households and the potential for a sharper slowdown in activity.

For now, the Board is choosing to wait.

But it is a pause that still carries an underlying tightening bias, rather than a clear pivot toward easing.

In practical terms, that leaves the cash rate anchored at 4.35 per cent for the foreseeable future, with the next move still uncertain.

For borrowers, it reinforces the reality that relief is not imminent.

And for the broader economy, it highlights the delicate balance the RBA is trying to strike, between bringing inflation back to target and avoiding an unnecessarily sharp slowdown in growth.

According to ANZ, it is a balance that is becoming increasingly difficult to maintain.

RBA to hold rates for "prolonged period" rather than hikes: ANZ

<a href="https://www.apartments.com.au/developers/venturecrowd-property-projects">VentureCrowd</a> is down to the final Canopy Villa release at Cumulus Grand Villas in Carrara, as construction continues on the 59-residence gated community positioned above 100 hectares of natural savanna on the Gold Coast.

The remaining Canopy Villa forms part of one of four collections within the <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>-designed community and has attracted interest from buyers seeking larger-format homes that combine privacy, security and low-maintenance living. Positioned within a private cul-de-sac and facing a protected black she oak forest, the four-bedroom villa includes a large private outdoor area suited to pet owners and families wanting more flexible space.

<a href="https://www.apartments.com.au/new-townhouses/cumulus-grand-villas-carrara-17-baltimore-court-carrara-qld-4211">Cumulus Grand Villas</a>, located at 17 Baltimore Court, comprises a mix of three and four-bedroom villas across the Skyline, Canopy, Savanna and Broadview collections. Prices currently range from $1.455 million to $1.895 million, with the final Canopy Villa priced from $1.825 million.

[smartcode_project:default project_id=135663 project_image_fid=360477]

The Canopy Collection villas offer four bedrooms, 2.5 bathrooms and approximately 245 sqm of internal space, alongside double garages and landscaped private areas. Expansive glazing, open-plan living spaces and private balconies have been designed to maximise natural light and outlooks toward the surrounding savanna landscape.

Construction is now underway across the fully funded development, which VentureCrowd says has become an increasingly important consideration for buyers assessing off-the-plan opportunities on the Gold Coast. The project is being delivered by <a href="https://www.apartments.com.au/builders/devcon">Devcon Property Group</a>, which has operated in South East Queensland since 1993 and delivered more than 1,000 homes across the region.

VentureCrowd Director of Property David Whitting previously said the project responds to changing buyer priorities in the prestige Gold Coast market.

“Flexible floorplans have proven particularly relevant for purchasers aged between 40 and 65, including next home buyers, downsizers and investors,” Whitting said.

[smartcode_project:default project_id=135663 project_image_fid=360505]

The buyer profile at Cumulus has reflected that shift toward owner-occupier-driven demand. Stuart Towns and Tracey Loynes recently purchased a Canopy Villa, drawn to both the lifestyle offering and the flexibility the home provided for their next stage of living together.

The couple, who met three years ago, sold their Robina home earlier this year after identifying what they saw as strong long-term investment potential at Cumulus while remaining within the same Gold Coast market. The villa’s private backyard was a major drawcard for their dog Luna, while proximity to golf courses including Emerald Lakes also aligned with their lifestyle interests.

Beyond the residences themselves, the community has been planned around shared lifestyle and recreation amenities. The Infinity Terrace will include a 20-metre heated pool, barbecue facilities, alfresco dining spaces and elevated retreat areas overlooking the surrounding landscape. Walking trails, a private nature reserve, orchard and herb garden are also integrated into the masterplan.

[smartcode_project:default project_id=135663 project_image_fid=360473]

BDA Architecture Director Darren Greenaway said the design approach was heavily influenced by the site’s outlook and secluded setting.

The practice sought to create what Greenaway described as a “little piece of paradise,” drawing inspiration from the elevated views, surrounding greenery and quiet location.

<a href="https://www.apartments.com.au/developments/carrara-qld-4211">Carrara</a> continues to attract buyers seeking larger homes within proximity to the coast but without direct beachfront pricing. Cumulus sits within easy reach of Broadbeach, Pacific Fair, Robina Town Centre and the M1, providing connections north to Brisbane and south toward the Gold Coast Airport and northern New South Wales.

The first stage of Cumulus Grand Villas is targeting completion in 2026.

[smartcode_project_cta:default project_id=135663]

VentureCrowd nears sell-out of Canopy Collection at Cumulus Grand Villas in Carrara

Waverley Council has made a call that many councils have been reluctant to make publicly. Growth is coming, regardless of who controls it.

The release of the Bondi Junction Vision and Master Plan is less about whether the Eastern Suburbs’ primary centre will change, and more about how that change is shaped, funded, and ultimately experienced on the ground. Waverley Council has released a 100-page plan which is effectively the first comprehensive blueprint for Bondi Junction in over two decades, and in doing so, signals a clear shift in how councils are positioning themselves in the current planning environment.

For the past 18 months, the conversation across New South Wales has been dominated by the State Government’s Low and Mid-Rise Housing reforms and the emergence of the Housing Delivery Authority pathway. Both have created faster, more centralised avenues for development approvals, particularly in well-located, infrastructure-rich areas like Bondi Junction.

Waverley Council’s response has been to move early, and decisively.

Rather than react to individual proposals as they come through the HDA or broader State-led reforms, Council has sought to establish a clear, place-based framework that sets the terms for how Bondi Junction evolves. The underlying position is relatively straightforward: if densification is inevitable, it should be tied to infrastructure, public domain improvements, and a cohesive vision for the centre, not delivered piecemeal through ad hoc applications.

<img alt="bondi junction" data-entity-type="file" data-entity-uuid="7f1f729c-ed99-4c6c-bf87-ffbce6991941" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-19%20at%209.58.16%E2%80%AFAM.png?VersionId=ULX4OlXKjeJ5BvNCNGL86evgXCjCfMih" />

At its core, the document is attempting to reposition Bondi Junction from what it largely functions as today, a transport interchange anchored by a major retail centre, into something far more layered. The ambition is to transform it into what the plan describes as the “civic and cultural heart of Sydney’s East,” a place that is active beyond commuting hours and capable of supporting a broader mix of uses, experiences and communities.

That repositioning is built around four key ambitions.

The first is to create a true destination. Bondi Junction already attracts significant foot traffic, with more than 86,000 daily transport users and millions of annual retail visits, but much of that activity is transient. People pass through, rather than stay.

The Master Plan seeks to change that dynamic. It leans heavily into the idea of an “18-hour economy,” extending activity well beyond traditional retail hours through dining, cultural programming, events, and a more active night-time offering. This is not just about adding more hospitality venues, but about fundamentally shifting how the centre operates, from a daytime shopping destination to a place that functions across the full span of the day and into the evening.

Oxford Street Mall sits at the centre of that shift.

Long seen as underperforming relative to its potential, the Mall is identified as one of the key catalyst projects in the plan. It is to be reimagined as a day-to-night spine, combining retail, dining, wellness and cultural uses in a way that creates a continuous flow of activity. Outdoor dining, rooftop venues, laneway activation and a curated events program are all part of the strategy, alongside significant public domain upgrades that aim to improve comfort, safety and usability.

&nbsp;

The second ambition is to transform Bondi Junction into a world-class interchange.

Despite being one of the most heavily used transport nodes in Sydney, the current experience is fragmented. Connections between the station, Westfield, Oxford Street Mall and surrounding streets are often unclear, and major roads create physical barriers that disrupt pedestrian movement.

The Master Plan proposes a more seamless, people-focused network. That includes clearer pedestrian links, improved wayfinding, better integration between transport modes, and a rethinking of how arrival into the centre is experienced. The aim is to shift the perception of Bondi Junction from a place people move through, to a place they arrive in.

The third ambition focuses on greening and open space.

One of the more consistent pieces of community feedback throughout the Vision phase was the need for more greenery, better public spaces, and a more comfortable urban environment. Despite being surrounded by major parks, Bondi Junction itself has relatively limited accessible open space, with much of the public realm dominated by hard surfaces and traffic infrastructure.

The plan responds with a network of new and upgraded public spaces, increased tree canopy, and what it terms the “Parkline,” a green link connecting Waverley Park through to Centennial Park. This is not just about aesthetics. It is about addressing heat, improving liveability, and ensuring that increased density is matched by access to high-quality outdoor space.

The fourth ambition is perhaps the most important from a development perspective: growth that gives back.

Bondi Junction is already the primary location for new housing supply in the Waverley LGA, and that is expected to continue. The area carries a target of 2,400 new dwellings by 2029, with further growth projected beyond that as demand for well-located housing continues to rise. The Master Plan does not seek to limit that growth. Instead, it attempts to shape it.

New housing is to be concentrated around transport, with stepped building heights designed to protect the character of surrounding neighbourhoods. At the same time, the plan introduces a more explicit link between development uplift and public benefit. This is where value capture becomes central.

The document outlines a framework where increased development potential is tied to contributions that fund public domain improvements, community infrastructure, open space, and affordable housing. It is an approach that recognises that much of the transformation of Bondi Junction will be delivered by the private sector, but seeks to ensure that the benefits of that growth are shared more broadly. The Civic Precinct is a key part of that equation.

Leveraging Council-owned land, the plan proposes a consolidated civic and cultural hub centred around Ebley Street. This would include new community facilities, cultural spaces, and potentially a new Council Chambers, creating a focal point for civic life that currently does not exist in Bondi Junction at scale.

It is one of several catalyst projects identified in the Master Plan, alongside the Oxford Street Mall transformation. These projects are intended to anchor change, acting as early interventions that unlock broader investment across the precinct.

Importantly, the Master Plan is not just a design document. It includes a delivery framework that sets out how these ambitions are intended to be realised.

Council is explicit in acknowledging that it cannot deliver the transformation alone. Implementation will require coordination between State agencies, private developers, landowners and the community, with a mix of planning agreements, infrastructure contributions and direct delivery mechanisms used to fund and stage improvements over time.

The plan outlines a mix of short-term, medium-term and long-term actions, from immediate public domain upgrades and planning controls, through to larger-scale projects that will unfold over the next decade or more. In practical terms, the next 12 to 24 months will be the most important.

This is when the Master Plan will move through exhibition, refinement and eventual adoption. It is also the period in which Council will seek to embed the framework into its planning controls, giving it weight in the assessment of future development applications.

Council officers have indicated that once the Master Plan is in place, it could be used as a benchmark when assessing Housing Delivery Authority proposals, and potentially reduce the need for further HDA declarations within Bondi Junction. In effect, it is an attempt to bring planning control back to the local level, while still aligning with State housing targets.

That tension between State-led reform and local planning control is not unique to Waverley. It is playing out across Sydney.

&nbsp;

&nbsp;

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If delivered as intended, Bondi Junction will become denser, more active, and more complex. It will support more residents, more workers, and a wider range of uses, extending beyond its current retail core into a more layered urban environment.

“The civic and cultural heart of Sydney’s East”: Bondi Junction masterplan revealed

Robert Larocca

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A preliminary weighted average clearance rate of 70% was recorded this week across capital cities compared to 67.3% last week and 70.2% this time last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150216-Capital-City.jpg" rel="wp-prettyPhoto[g4273]"><img class="aligncenter size-large wp-image-4274" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150216-Capital-City-580x431.jpg" alt="National auction review - Capital City" width="580" height="431"></a>
The market performed to recent trend this week and results between now and the Labour Day long weekend should provide a clearer indication as to the state of the auction market this year.
In Sydney a preliminary clearance rate of 77.9% recorded compared to 80.6% last week and 80.2% last year. The Sydney auction market has not shown any sign of weakness following the stand out year in 2014.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150216-Sydney.jpg" rel="wp-prettyPhoto[g4273]"><img class="aligncenter size-large wp-image-4275" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150216-Sydney-580x376.jpg" alt="National auction review - Sydney" width="580" height="376"></a>
In Melbourne the auction market improved following the lowest clearance rate in 26 months last week. The preliminary clearance rate was 67.4%, compared to 60.7% last week and 69.2% this time last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150216-Melbourne.jpg" rel="wp-prettyPhoto[g4273]"><img class="aligncenter size-large wp-image-4276" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150216-Melbourne-580x378.jpg" alt="National auction review - Melbourne" width="580" height="378"></a>
In Brisbane a preliminary clearance rate of 50.6% was recorded compared to 47.6% last week.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150216-Brisbane.jpg" rel="wp-prettyPhoto[g4273]"><img class="aligncenter size-large wp-image-4277" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150216-Brisbane-580x375.jpg" alt="National auction review - Brisbane" width="580" height="375"></a>
In Adelaide a preliminary clearance rate of 72% compared to 58.2% last week.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150216-Adelaide.jpg" rel="wp-prettyPhoto[g4273]"><img class="aligncenter size-large wp-image-4278" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150216-Adelaide-580x387.jpg" alt="National auction review - Adelaide" width="580" height="387"></a>
In Canberra a clearance rate of 72.2% was recorded compared to 67.9% last week.
In Perth a clearance rate of 33.3% was recorded.
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rlarocca-zWhvjay44N

National clearance rate of 70% recorded for the weekend: Robert Larocca

<html><body>
A preliminary weighted average clearance rate of 66.9% was recorded this week across capital cities compared to 61.6% last week and 68.2% this time last year.
<img class="aligncenter size-large wp-image-4245" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150209-Capital-City-580x431.jpg" alt="Auction market review - Capital Cities" width="580" height="431">
This weeks result compares well to the 2014 market when an overall clearance rate of 67.8% was recorded. It also broadly reflects the moderate growth recorded in home values this year.
The positive impact of the rate cut will take a few weeks to be apparent on a national wide scale as volumes are still low. If the rate cut is to encourage a few more active buyers and sellers it will also take a few weeks to be obvious.
In Sydney a preliminary clearance rate of 80.5% recorded compared to 77.9% last week and 79.5% last year. Compared to last year this is near identical start.
<img class="aligncenter size-large wp-image-4247" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150209-Sydney-580x396.jpg" alt="Auction market review - Sydney" width="580" height="396">
In Melbourne a preliminary clearance rate of 61.4% was recorded compared to 66.3% last week and 67.5% this time last year. It is still early but results so far make it interesting to see which way the market goes as the year has started with lower auction volumes and clearance rates.
<img class="aligncenter size-large wp-image-4246" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150209-Melbourne-580x385.jpg" alt="Auction market review - Melbourne" width="580" height="385">
In Brisbane a preliminary clearance rate of 45.6% was recorded compared to 43.3% last week.
<img class="aligncenter size-large wp-image-4244" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150209-Brisbane-580x390.jpg" alt="Auction market review - Brisbane" width="580" height="390">
In Adelaide a preliminary clearance rate of 61.1% compared to 52.7% last week.
<img class="aligncenter size-large wp-image-4243" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150209-Adelaide-580x381.jpg" alt="Auction market review - Adelaide" width="580" height="381">
In Canberra a clearance rate of 62.8% was recorded compared to 72.7% last week, whilst for Perth a clearance rate of 35.7% was recorded.
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No interest rate cut impact on auctions, yet: Robert Larocca

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Residential dwelling values in Melbourne returned to trend in January with a 2.7% rise recorded by CoreLogic RP Data in the latest home value indices results.
This sets the Melbourne property market up for another stable year with moderate value increases likely, particularly in the detached house market. Melbourne home owners have seen stable growth in values for two years now and are more likely to record a profit when selling now.
House values in the city grew the strongest with a 2.8% rise compared to 1.7% for units. This takes the growth in values over 12 months to 7.5% for houses and 2.7% for units.
The rise in property values will be welcomed by vendors seeking to sell over the summer and in autumn as it suggests the poorer performance recorded in November and December last year was a consequence of high supply levels in spring and summer.
Demand is not limitless and there is still some caution from buyers.
Based on settled sales the median price of a house in the past three months was $613,000 and $480,000 for a unit.
The performance of the auction market provides little indication of the markets health due to the very low auction numbers in January and their geographic diversity. Volumes are likely to rise strongly over the next few weeks.
Melbourne continues to have the lowest rental yields in Australia with 3.2% for houses and 4.2% for units. This does not appear to have a negative impact on investors who are happy to wait for capital gains.
Melbourne’s ‘Mega suburbs’!
<ul>
<li>Reservoir is the largest suburb in Melbourne</li>
<li>Gilderoy is the smallest suburb in Melbourne</li>
<li>The are 12 suburbs in Melbourne with over 10,000 houses</li>
</ul>
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/glen-waverley-railway-station-300x199.jpg"></a>Most weeks when the highest volume of auctions are listed, the suburbs of Reservoir, Glen Waverly and Mount Waverly come out near the top.
Auctions may well be a popular method of sale in these suburbs but their appearance in the list is more likely due to the fact that they are three of Melbourne’s largest areas.
Melbourne’s progressive growth over the past 180 years has seen suburbs planned and developed in many different ways. Sometimes geography provides natural borders and sometimes the common ownership by one developer provided the impetus for the naming or borders. Sometimes names and borders have even moved.
As a result Melbourne suburbs vary from 13,741 houses in Reservoir to 18 in Gilderoy. At more than 67km from the CBD the small ‘suburb’ of Gilderoy is more representative of it being a town than a considered decision to create a small suburb.
There are 12 suburbs in total that have more than 10,000 houses. Each is bigger than medium-sized regional centres such as, Mildura, Shepparton and Warrnambool and without outlying suburbs.
Those 12 suburbs are Reservoir, Frankston, Glen Waverly, Berwick, St Albans, Pakenham, Point Cook, Werribee, Mount Waverly, Hoppers Crossing, Craigieburn and Sunbury. Interestingly many of those were once separate towns which have now expanded considerably as they have become more proximate to the cities outer edge. As many of those are still being developed they are likely to grow further.
The vagaries of place naming and suburb size become even more obvious when the case of Croydon is considered.  On its own, Croydon is a large but not massive suburb with 7,293 houses. But once neighbouring Croydon North, South and Hills are considered, its size grows to 12,446 houses.
When buying in larger suburbs it is therefore sensible to consider where specifically a home is as factors such as distance from a train station, park or school may vary considerably. The form of housing may vary as well.
Auction buyers to benefit from interest rate cuts
This week’s interest rate cut will provide a boost to the auction market over the coming month and deliver a welcome reprieve for buyers looking to reduce costs. Not only will buyers enjoy the increased purchasing power, sellers will welcome the unexpected boost to the market in the middle of their marketing campaigns.
This week, there are 1,218 auctions expected across Australia, with 824 of these scheduled for in capital cities. This is compared to 502 last week and 927 for the same week last year. The primary reason for lower auction volumes in capital cities is due to 36 per cent fewer auctions in Melbourne.
In Sydney 317 auctions are expected compared to 154 last week and 362 this week last year.
In Melbourne 214 auctions are expected compared to 102 last week and 335 this week last year. The main activity this week in Melbourne will be found in the eastern suburbs with 9 auctions in Mount Waverley and 8 in Glen Waverly. In Portarlington, near Geelong, there are also 9 auctions expected.
There are 99 auctions expected in Brisbane compared to 85 last week and 98 this week last year. This highest level of activity will be found outside Brisbane with 180 auctions scheduled across the rest of Queensland. For example, the most auctions in any one suburb in Queensland will be in Surfers Paradise where 9 are expected.
In Adelaide there are 86 auctions expected. This is slightly lower than the 102 last week but higher than the 70 on the same week last year.
In Canberra the volume of auctions is higher than last week and this time last year when there was 50. There are 69 expected this week.
In Perth 30 auctions are expected compared to 24 last week and 43 this week last year.
The highest volume of auctions will be in Port Macquarie (NSW) where 10 are expected.
 
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Melbourne house owners on track for another year of growth: Robert Larocca

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In many respects the Melbourne auction market last year was better than in 2013. 
Auction volumes rose 19.7% compared to last year, however the clearance rate fell a small degree from 69.2% to 68.4%.
While there is a great degree of interest in data associated with the auction market, what exactly should buyers be looking at to help inform their judgement?
Firstly, when undertaking market analysis it is important to get as much information as possible and understand the data in context, after all the sale of a new home means something different to the sale of an established one.
Auctions can provide a rich source of information, even if you are not bidding.
Auctions account for around one in five sales in capital cities and nearly one third in Melbourne.
With that in mind there are three important things for buyers to look at from auctions;
<ul>
<li>Number of Buyers:</li>
</ul>
The number of active buyers is a slice of the people you are competing against in a given area. If you go to enough open houses and auctions you will get a feel about how strong demand is in an area and that will affect the price you need to pay..
<ul>
<li>
Sale Price (or passed in amount):
</li>
</ul>
Buyers will be able to compare the sale prices with their expectations of price, even if it is passed in. This information will help you make informed judgments about the market when bidding on the home you want. You can then see this data the day after, however it’s far better to turn up and see it live.
<ul>
<li>
Local Auction Conduct:
</li>
</ul>
Auctions can be a high-pressure event, as a result the more you attend the more used to the process you will get which in turn will help you stick to your budget and strategy. Attending auctions in the area you aim to buy in will allow you to become acquainted with the styles of different auctioneers and the level of competition in the area.
Key facts
<ul>
<li>Attendence at auctions important for buyer research</li>
<li>Clearance Rates – in 2014 these fell to 68.4%</li>
<li>Auctions increased to take advantage of rising market</li>
</ul>
January has seen a fairly typical commencement to the auction market with only 419 auctions held. The market moves up a notch this week with 800 expected across Australia and 391 in capital cities.
The volume of auctions in capital cities should rise to exceed 1,000 in the middle of February, as most real estate agents need to allow a reasonable marketing period for the property.
It is also fairly typical to see the majority of auctions outside the capital cities and that is the case this week.
The highest volume of auctions is expected in Adelaide with 97. There are 94 expected in Sydney, 80 in Melbourne, 24 in Perth and 21 in Canberra.
Before the auction market increases significantly in volume it is useful to reflect on how 2014 ended. On a national basis there 101,444 auctions held in capital cities, the first time ever the volume has exceeded 100,000.
Melbourne had the most auctions with 44,089 and just exceeded Sydney for the most sold. The most significant shift in 2014 was the growth in the Sydney auction market. If this is sustained this year it will be difficult for Melbourne to retain the title of the “auction capital”.
The highest clearance rate for 2014, 74%, was recorded in Sydney.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/2015-01-29-capital-Low-volume-of-auctions-this-week.jpg" rel="wp-prettyPhoto[g4230]"><img class="aligncenter size-full wp-image-4231" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/2015-01-29-capital-Low-volume-of-auctions-this-week.jpg" alt="Capital Low volume of auctions this week - CoreLogic RP Data blog" width="604" height="304"></a>
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How buyers can use auction results to be better buyers: CoreLogic's weekend auction preview

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The latest CoreLogic RP Data Pain and Gain Report  compares the sale price with purchase price for all homes sold in the most recent quarter and for which there is comprehensive data available.
Note: The report does not cover developer sales.
The central message of the <a href="https://www.corelogic.com.au/news/pain-gain-report-released-for-the-september-2014-quarter" target="_blank" title="Read the Pain and Gain report">Pain &amp; Gain Report</a> is  that owners are more likely to make a profit if they hold the property for a reasonable length of time, especially when the upfront impost of stamp duty and other transaction costs are taken into account.
For example, nationally, 3.3% of sellers made a 100% profit selling within one year of buying and almost passed this mark by half after 10 years of ownership.
In the September quarter last year, 6.5% of sellers in Melbourne made a loss in nominal terms. This was a slight improvement on the 6.6% in the June quarter and a substantial improvement on the 7.4% a year ago.
On a more local basis there are two ways of looking at the data; the proportion of sellers that made a profit and the gross profit made. Obviously the total profit made was higher in the more expensive municipalities. For example the highest profit was recorded in Boroondara at $232 million. By comparison the total profit in Brimbank was $66 million.
The other way of assessing the data looks at the proportion of owners who made a profit. Of municipalities wholly within the metropolitan area Knox topped the list with 98.6%. It was followed by Monash on 97.4%, Casey with 96.6% and both Glen Eira and Whitehorse with 96.4%.
Interestingly this demonstrates that through medium to long-term ownership a profit can be found in more than just the most expensive parts of Melbourne.
Key facts
<ul>
<li>35.7% of sellers made a 100% or higher profit 
</li>
<li>Sellers in Boroondara made the highest total profit of $232 million 
</li>
<li>98.6% of sellers in Knox made a profit</li>
</ul>
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Profits can be found in more than just the expensive parts of Melbourne: Robert Larocca

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The top 10 Melbourne suburbs ranked by growth in house values in 2014 were dominated by some of the cities most expensive suburbs and they were located south of the Yarra.
Overall, the Melbourne housing market produced a near repeat of 2013 with house values rising by 8.4% and units recorded a rise of 1.1% as a result of high levels of supply; particularly in the inner city highrise market.
<a href="/news">Armadale</a>, <a href="/news">Caulfield North</a> and <a href="/news">Kew </a>experienced the highest growth in house values and this is reflective of a number of factors including that the strongest rate of value growth being recorded in the middle and upper segments of the market.
The appearance of <a href="/news">Box Hill</a> in the Top 10 highlights the continual popularity of the group of suburbs around <a href="/news">Balwyn</a> and <a href="/news">Mont Albert</a>. Over the last decade these suburbs have provided the best capital gains for owners. These suburbs have broad appeal for myriad reasons such as close proximity to local amenities such as parks, a range of transport choices, local shopping nodes and accessibility to the central business district.
At a broader level, the fundamentals of the Melbourne property market remain sound. A major contributor to these fundamentals is the positive impact on housing market from supportive monetary policy in the form of a record low interest rate. Furthermore, ongoing strong overseas migration to Victoria and a record high influx of residents moving to the state from the rest of Australia also helps to support housing demand.
House value growth slowed from 3.8% in the September 2014 quarter to just 0.8% over the final quarter of 2014. My big question for the summer and autumn markets is whether this was simply due to higher levels of supply or the start of a softer trend.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/melbourne-property-values-table1.jpg" target="_blank"><img class="aligncenter wp-image-4157 size-full" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/melbourne-property-values-table1.jpg" alt="" width="694" height="586"></a>
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South of the Yarra dominates Melbourne's top suburbs for house value growth

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According to CoreLogic RP Data, Melbourne now has 52 suburbs with a median house value in excess of $1 million – the data covers the 12 months ending in September.
Melbourne’s most expensive suburb remains <a href="/news">Toorak</a>, with a median house value of $2.92 million. The median sale price, which reflects the prices paid over the last year has for the first time, exceeded $3 million. This indicates a slightly more expensive segment of Toorak has been selling over the last year.
Toorak will clearly be the city’s first $3 million dollar suburb, its just a matter of when.
There are three other suburbs with medians in excess of two million: <a href="/news">Deepdene</a>, <a href="/news">Canterbury</a> and <a href="/news">Kooyong</a>.
From sales volumes perspective, the highest was in <a href="/news">Brighton</a> followed by <a href="/news">Balwyn North</a>, <a href="/news">Kew</a>, <a href="/news">Glen Iris</a> and <a href="/news">Camberwell</a>.
Putting aside the cost, the million dollar suburb that proved the easiest to buy into was Deepdene were 14% of houses sold in the last year. In contrast <a href="/news">Fairfield</a> was a tightly held suburb with only 2.8% of houses selling.
Two new suburbs in the list are <a href="/news">Prahran </a>and <a href="/news">Williamstown</a>. The median value of a house in Williamstown – the second suburb in the west to reach this level was $1,002,000. Prahran’s median for a house is now $1 million.
There are 565 auctions scheduled this week in Melbourne compared to 531 for the same time last year. This is the last week for the year in which there are expected to be a substantial volume of auctions. Until early February next year there will be a small number of auctions weekly, mostly outside of the metropolitan area.
With one week to go this year the auction market has seen more homes sold by more people. The clearance rate for 2014 is likely to be marginally lower, around 68.6%, than 2013 when it was 69.2%. With one week to go there have been 43,298 auctions held, 17.8% more than last year and 29,632 homes selling.
Weeks with over 1,000 auctions used to be a rarity, but with 22 occurring this year they are now a regular feature of the market.
In the private sale market conditions continue to be healthy for sellers. On a citywide basis, the time on market results for houses sold at private sale was stable at 31 days over the last week and vendor discounting was also stable at -5%.
Key data
<ul>
<li>Clearance rate week ending 14 December: 68.6%</li>
<li>Melbourne auctions expected week ending 21 December: 565</li>
<li>Melbourne private sales time on market week ending 14 December: 31 days (houses)</li>
<li>Melbourne vendor discounting market week ending 14 December: -5% (houses)</li>
<li>Listings being prepared for market are 1.3% lower in month ending 14 December (seasonally adjusted)</li>
</ul>
Photo of Chapel Street, Prahran courtesy of Wikimedia Commons.
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Prahran joins million dollar club in Victoria: Melbourne auction preview

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A preliminary weighted average clearance rate of 65.2% was recorded this week across capital cities compared to 63.7% last week and 65.1% this time last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Capital-City.jpg" rel="wp-prettyPhoto[g4123]"><img src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Capital-City-580x426.jpg" alt="National Auction Comments | Capital City" width="580" height="426"></a>
The market may have cooled since the start of spring but that won’t prevent the overall clearance rate for 2014 exceeding last year. In 2013 the capital cities clearance rate was 66.2% and with one week to go this year it is 67.9%. With the exception of Melbourne and Perth the clearance rate has risen in each capital city. More people have sold more homes at auction this year.
In Sydney a preliminary clearance rate of 71.2% recorded compared to 66.1% last week and 72.2% last year. The Sydney auction market has delivered very good outcomes for sellers this year with a higher clearance rate and number of sales. The clearance rate for 2014 is likely to be close to 74.4%, higher than 72.7% last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Sydney.jpg" rel="wp-prettyPhoto[g4123]"><img class="aligncenter size-large wp-image-4125" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Sydney-580x392.jpg" alt="National Auction Comments | Sydney" width="580" height="392"></a>
In Melbourne a preliminary clearance rate of 65.9% was recorded compared to 66% last week and 64.9% this time last year. The clearance rate for 2014 is likely to be marginally lower, around 68.5%, than 2013 when it was 69.2%.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Melbourne.jpg" rel="wp-prettyPhoto[g4123]"><img class="aligncenter size-large wp-image-4126" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Melbourne-580x390.jpg" alt="National Auction Comments | Melbourne" width="580" height="390"></a>
In Brisbane a preliminary clearance rate of 47.3% was recorded compared to 39.7% last week. The overall clearance rate in Brisbane for 2014 is likely to be 45.8%, higher than 41.5% last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Brisbane.jpg" rel="wp-prettyPhoto[g4123]"><img class="aligncenter size-large wp-image-4127" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Brisbane-580x390.jpg" alt="National Auction Comments | Brisbane" width="580" height="390"></a>
In Adelaide a preliminary clearance rate of 57.5% compared to 56.6% last week. The overall clearance rate for 2014 is likely to be 61.9%, higher than 56.5% last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Adelaide.jpg" rel="wp-prettyPhoto[g4123]"><img class="aligncenter size-large wp-image-4128" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Adelaide-580x384.jpg" alt="National Auction Comments | Adelaide" width="580" height="384"></a>
In Canberra a clearance rate of 59.5% was recorded. The overall clearance rate for 2014 is likely to be 55.9%, higher than 52.3% last year.
In Perth a clearance rate of 33.3% was recorded. The overall clearance rate for 2014 is likely to be 41.1%, lower than 46.5% last year.
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Sydney auction market has delivered very good outcomes for sellers this year: National auction wrap

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The most recent update to the list of million dollar suburbs in Melbourne has seen 50 reach or exceed that mark.
This is an increase of one on last month with <a href="/news">Caulfield East</a> joining the list. The median value of a house in that suburb is now $1,002,366. Prior to Caulfield East the other recent additions were <a href="/news">Fairfield </a>and <a href="/news">Aberfeldie</a>. Those additions meant that Melbourne now has million dollar suburbs in the north, east, south and west of the city.
The list is headed by the usual suspects; <a href="/news">Toorak</a>, <a href="/news">Deepdene</a>, <a href="/news">Canterbury</a>, <a href="/news">Kooyong</a> and <a href="/news">East Melbourne</a>.  The median house value in <a href="/news">Toorak</a> is now $2.85 million and unlike the majority of million dollar suburbs this number has fallen over the last year.
The suburbs next in line do not contain many surprises but can also tell us a lot about housing values in Melbourne.
The suburbs that are within $20,000 of the million dollar mark are <a href="/news">Prahran</a>, <a href="/news">Carlton North</a>, <a href="/news">Port Melbourne</a>, <a href="/news">Williamstown </a>and <a href="/news">Bentleigh</a>.
Bentleigh is quite typical of the next group of suburbs that will join the list. It would have been quite surprising a few years ago to think of Bentleigh houses costing this much but with 97 selling for over a million in the last 12 months it now a regular feature of the area.
A cursory glance at the ‘for sale’ advertisements shows a suburb undergoing significant change with an increase in multi unit dwellings replacing the older homes on what are now large blocks. These homes coexist with a mixture of styles that are clearly proving to be very popular with buyers.
There are 1,338 auctions scheduled this week in Melbourne compared to 1,270 for the same time last year. The most auctions will be found in <a href="/news">Bentleigh East </a>with 29.
Auctions are generally more popular in the most expensive segment of the market and some suburbs have been recording multiple sales in the ultra expensive category.
A review of suburbs ranked by the number of sales valued at more than $2 million over the last year shows that three had more than 100; <a href="/news">Brighton</a>, Toorak and <a href="/news">Kew</a>. <a href="/news">Camberwell</a>, Canterbury, <a href="/news">Balwyn</a>, <a href="/news">Hawthorn </a>and <a href="/news">Malvern </a>had between 50 and 100. Outside of the leafy inner east there were some interesting results in <a href="/news">Hampton</a>, <a href="/news">Elwood</a>, <a href="/news">Ivanhoe </a>and <a href="/news">Richmond </a>had between 10 and 20 sales over $2 million.
On a citywide basis, the time on market results for houses sold at private sale was stable at a very low 31 days over the last week and vendor discounting remained stable at -4.8%.
Key data
<ul>
<li>Clearance rate week ending 9 November: 65.5%</li>
<li>Melbourne auctions expected week ending 16 November: 1,338</li>
<li>Melbourne private sales time on market week ending 9 November: 31 days (houses)</li>
<li>Melbourne vendor discounting market week ending 9 November: -4.8% (houses)</li>
<li>Listings being prepared for market are 4.3% higher in month ending 9 November (seasonally adjusted)</li>
</ul>
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Bentleigh soon to become a million dollar suburb: RP Data's Melbourne weekend auction preview

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A preliminary weighted average clearance rate of 63.7% was recorded this week across capital cities compared to 68.7% last week and 68.3% this time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/11/20141110-Capital-City.jpg" rel="wp-prettyPhoto[g3951]"><img class="aligncenter size-large wp-image-3952" src="https://blog.rpdata.com/wp-content/uploads/2014/11/20141110-Capital-City-580x421.jpg" alt="RP Data auction market comments | Capital City" width="580" height="421"></a>
It is interesting to note that due to an increase in the popularity of auctions more homes have been sold in Sydney at auction this year than Melbourne. This is the first time this has occurred. After this week there have been 24,590 auction sales in Sydney and 24,336 in Melbourne.
In Sydney market a preliminary clearance rate of 69% recorded compared to 75.6% last week and 76% last year. After a fortnight of mild improvement the ongoing high volumes are clearly having an impact with a lower clearance rate this week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/11/20141110-Sydney.jpg" rel="wp-prettyPhoto[g3951]"><img class="aligncenter size-large wp-image-3953" src="https://blog.rpdata.com/wp-content/uploads/2014/11/20141110-Sydney-580x385.jpg" alt="RP Data auction market comments | Sydney" width="580" height="385"></a>
In Melbourne there was a preliminary clearance rate of 63.8% recorded compared to 69.6% last week and 68.1% this time last year. The market is shifting in favor of buyers at the right time of the year with a high volume of auctions expected between now and Christmas.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/11/20141110-Melbourne.jpg" rel="wp-prettyPhoto[g3951]"><img class="aligncenter size-large wp-image-3954" src="https://blog.rpdata.com/wp-content/uploads/2014/11/20141110-Melbourne-580x382.jpg" alt="RP Data auction market comments | Melbourne" width="580" height="382"></a>
In Brisbane a preliminary clearance rate of 45% was recorded compared to 45.3% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/11/20141110-Brisbane.jpg" rel="wp-prettyPhoto[g3951]"><img class="aligncenter size-large wp-image-3955" src="https://blog.rpdata.com/wp-content/uploads/2014/11/20141110-Brisbane-580x386.jpg" alt="RP Data auction market comments | Brisbane" width="580" height="386"></a>
Adelaide recorded a clearance rate of 61.3% compared to 57.4% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/11/20141110-Adelaide.jpg" rel="wp-prettyPhoto[g3951]"><img class="aligncenter size-large wp-image-3956" src="https://blog.rpdata.com/wp-content/uploads/2014/11/20141110-Adelaide-580x388.jpg" alt="RP Data auction market comments | Adelaide" width="580" height="388"></a>
In Canberra a clearance rate of 50.6% was recorded.
In Perth a clearance rate of 56.3% was recorded.
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Robert Larocca

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