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

Joel Robinson

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

The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD

The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;

The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.

The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.

A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.

“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.

"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."

Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.

[smartcode_project:default project_id=134477 project_image_fid=374401]

Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;

Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.

Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.

With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.

It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.

Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.

"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”

Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.

[smartcode_project:default project_id=134477 project_image_fid=374402]

Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.

The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.

&nbsp;

According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.

"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.

"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.

“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”

Demolition and early construction works have commenced onsite at Castlereagh Place.

[smartcode_project_cta:default project_id=134477]

Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.

The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.

According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.

&nbsp;

Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.

[smartcode_project:default project_id=106566 project_image_fid=185853]

Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.

The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.

"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.

"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.

"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."

[smartcode_project:default project_id=106566 project_image_fid=374280]

Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.

McMahon said the pricing strategy was a deliberate response to the current market.

"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."

[smartcode_project:default project_id=106566 project_image_fid=362498]

Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.

Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.

[smartcode_project_cta:default project_id=106566]

SPG Land launches $1.5 billion Paradiso Place at attractive price point

Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.

The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.

[smartcode_project:default project_id=140818 project_image_fid=366473]

<a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.

"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.

"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."

[smartcode_project:default project_id=140818 project_image_fid=366474]

Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.

Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.

"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.

"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.

"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."

[smartcode_project:default project_id=140818 project_image_fid=374378]

According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.

"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.

"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.

"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."

&nbsp;

[smartcode_project:default project_id=140818 project_image_fid=366480]

The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.

A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.

The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.

Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.

&nbsp;

[smartcode_project_cta:default project_id=140818]

Lowe Living set new Melbourne off the plan apartment record

For more than three decades, Hyecorp has been delivering residential projects across Sydney's Lower North Shore, building a portfolio centred on design-led apartment living in some of the city's most established neighbourhoods.

Hyecorp recently launched the latest in its long line of apartment developments, Celine, a 29-storey tower on Archer Street in Chatswood. Like the majority of the developer's projects, Celine caters to a broad buyer demographic, offering a mix of one, two, three and four-bedroom apartments, all designed with owner-occupiers in mind.

Functionality and flexibility are often buzzwords in the new apartment market, but they sit at the core of Hyecorp's design philosophy.

Hyecorp Joint Managing Director Stephen Abolakian says the developer understands it isn't designing apartments for today's needs alone, but for how buyers will live several years into the future.

"When we launch our projects we need to be aware that these developments aren't finished for several years," Abolakian says.

"That home office in the here and now might be a nursery by the time the project completes for a prospective buyer, so we need to think about how the apartment spaces function for future uses so there's longevity in the ownership."

Celine's architects, Fuse, followed the same philosophy, saying the design extends well beyond aesthetics.

"Celine focuses on timeless architectural form and functionality, with a strong emphasis on light, proportion and materiality. The design responds to the urban context of Chatswood while delivering calm, highly liveable interiors that feel both contemporary and enduring. The floorplans have been carefully resolved to maximise usability and outperform typical market offerings in terms of efficiency and liveability."

Most apartments incorporate multipurpose rooms designed for flexibility. Each includes an integrated desk and a standard Murphy pull-down single bed, allowing the space to transition from a home office or study to guest accommodation as needs change. The layouts have also been designed to maximise natural light, storage and overall functionality.

One and two-bedroom apartments feature Miele appliances, while three and four-bedroom residences are appointed with integrated Gaggenau appliances and Taj Mahal stone benchtops.

Buyers who purchase early in the construction process can also take advantage of Hyecorp's "Live Your Way" interior design service, allowing them to personalise finishes and tailor elements of their home to suit their own lifestyle. It's a feature designed to appeal to owner-occupiers who want their apartment to feel uniquely theirs from the day they move in.

[smartcode_project:default project_id=149594 project_image_fid=362614]

While flexible floorplans have become a hallmark of Hyecorp's apartment design, the developer has also continued to place significant emphasis on resident amenity.

As buyers increasingly expect more from apartment living, shared spaces have evolved beyond a gym and barbecue area. They are now an extension of the home, providing spaces to relax, exercise, entertain and connect with neighbours.

At Celine, the resident amenity has been designed with a focus on wellness, centred on the level six podium. An infinity-edge swimming pool, spa, sauna and fully equipped gym are complemented by barbecue facilities and a residents' lounge, creating a range of spaces for relaxation, recreation and social connection above the streets of Chatswood.

Practical conveniences have also been integrated throughout the building, including EV charging provisions, smart parcel lockers, bicycle storage, a pet wash station and dedicated car wash bays, reflecting the project's focus on making everyday living as seamless as possible.

[smartcode_project:default project_id=149594 project_image_fid=362633]

"Celine has been designed to deliver a refined residential experience that reflects the evolution of Chatswood into a premium urban centre,"&nbsp;Abolakian says.

"With over 30 years of experience delivering projects across Sydney's Lower North Shore, Hyecorp brings a deep understanding of what local buyers value. Every detail has been considered to balance luxury, functionality and long-term liveability. This is not just about apartments, but about creating a lasting residential address for discerning buyers."

Hyecorp, vertically-integrated builder-developer, is anticipating construction commencement later this year.

[smartcode_project_cta:default project_id=149594]

Hyecorp brings 30 years of Lower North Shore experience to Celine in Chatswood

Robert Larocca

<html><body>
Real estate is often about numbers. Everything it seems, from the price of the house to the weekly rent, can be expressed as a number.
Here are five topical numbers as the market enters spring:
<ul>
<li>25,080</li>
</ul>
This is the number of units in the suburb of <a href="/news">Melbourne</a>. Melbourne has the most individual dwellings of any suburb in the city which will come as little surprise to anyone who has watched the highrise market take off in the last decade.
This is also a very large number in the context of the general density of the city. By way of contrast, the suburb with the most houses is <a href="/news">Reservoir</a> with 13,692 and when you include all the units, the number rises to 20,430, still well short of Melbourne.
<ul>
<li>871</li>
</ul>
With 871 houses sold in the last 12 months <a href="/news">Pakenham </a>has recorded the most house sales of any suburb in Melbourne.  The popularity of housing in the suburb is based on many factors, key amongst them is its relative affordability.  Based on the sales in the last year the median price was $337,500 compared $532,000 for Melbourne.
<ul>
<li>49</li>
</ul>
There are now 49 suburbs in Melbourne that have a median house value of $1 million or more. At nearly one in 10 sales across the city occurring for a sale price in the million dollar range, it is far more common than it used to be.
What has not changed is the most expensive suburb, <a href="/news">Toorak</a>, which had a median value of $2.941 million and saw 151 sales for more than a million dollars over the past year.
<ul>
<li>30</li>
</ul>
The median value of a house in Melbourne has grown by 30.4% over the past five years. Only two capital cities have exceeded that over the same time, Sydney and Darwin.
<ul>
<li>1</li>
</ul>
One is the number of suburbs in the cities west that have a median house value of more than one million dollars. Overlooking the Maribyrnong River and neighbouring the popular <a href="/news">Essendon</a>, <a href="/news">Aberfeldie</a> has a median house value of $1.04 million after a 14% rise in last year.
If you wanted to live there and can afford the price then you will probably need to wait as it is only a small suburb, 1,099 houses, and averages only one sale every 6.5 days.
Weekend auction preview
There are 765 auctions scheduled this week in Melbourne compared to 530 for the same time last year. The highest number of auctions is expected in the <a href="/news">Glen Waverly</a> with 16 scheduled this week.
Buyers are likely to face more vibrant market conditions and higher prices compared to the spring selling season last year.
The August RP Data Core Logic home value indices results released this week shows a rise in dwelling values of 0.8% in Melbourne and 7.6% rise this year.
Due to high levels of supply in the unit market, the majority of the growth occurring in the market is for houses. For houses, the index recorded a rise of 8.3% this year compared to 2.5% for units.
Time on market results for houses sold at private sale rose from 44 days to 47 days over the last week whilst vendor discounting rose from -5.2% to -5.3%.
Key data
<ul>
<li>Clearance rate week ending 31 August: 73.5%</li>
<li>Melbourne auctions expected week ending 7 September: 765</li>
<li>Melbourne private sales time on market week ending 31 August: 47 days (houses)</li>
<li>Melbourne vendor discounting market week ending 31 August: -5.3% (houses)</li>
<li>Listings being prepared for market are -1.3% lower in month ending 31 August (seasonally adjusted)</li>
</ul>
</body></html>

rlarocca-zWhvjay44N

The five numbers to know about Melbourne: RP Data's weekend auction preview

<html><body>
A preliminary weighted average clearance rate of 72.2% was recorded this week across capital cities compared to 69.5% last week and 71.5% this time last year. This is the highest recorded since early March this year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140901-Capital-city.jpg" rel="wp-prettyPhoto[g3667]"><img class="aligncenter size-large wp-image-3668" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140901-Capital-city-580x431.jpg" alt="RP Data auction market comment | Capital city" width="580" height="431"></a>
Data from the last four weeks has shown that this the best lead into spring since 2010 with more homes being sold at auction and overall higher prices in most capital cities.
In Sydney the market is delivering results comparable to this time last year and looks set to have a strong spring. This week a preliminary clearance rate of 81.1% was recorded compared to 76.1% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140901-Sydney.jpg" rel="wp-prettyPhoto[g3667]"><img class="aligncenter size-large wp-image-3669" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140901-Sydney-580x385.jpg" alt="RP Data auction market comment | Sydney" width="580" height="385"></a> In Melbourne there was a preliminary clearance rate of 71% recorded compared to 70.7% last week. This has been the most vibrant auction market since the middle of February this year with three consecutive weeks over 70%.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140901-Melbourne.jpg" rel="wp-prettyPhoto[g3667]"><img class="aligncenter size-large wp-image-3670" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140901-Melbourne-580x378.jpg" alt="RP Data auction market comment | Melbourne" width="580" height="378"></a> In Brisbane a preliminary clearance rate of 47% was recorded compared to 51.2% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140901-Brisbane.jpg" rel="wp-prettyPhoto[g3667]"><img class="aligncenter size-large wp-image-3671" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140901-Brisbane-580x382.jpg" alt="RP Data auction market comment | Brisbane" width="580" height="382"></a>
Adelaide recorded a clearance rate of 66.1% compared to 67.2% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140901-Adelaide.jpg" rel="wp-prettyPhoto[g3667]"><img class="aligncenter size-large wp-image-3672" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140901-Adelaide-580x385.jpg" alt="RP Data auction market comment | Adelaide" width="580" height="385"></a>
In Canberra a clearance rate of 72.4% was recorded and in Perth there was a clearance rate of 46.2%.
</body></html>

Clearance rate lifts on the eve of spring: RP Data's national auction wrap

<html><body>
The suburbs with the highest proportion of owner occupiers differ in value and tend to have one thing in common – they are well established and in contrast to those proving popular for investors.
Last week’s post revealed that many of <a href="/news/vic/the-melbourne-suburbs-investors-are-most-active-in">the most popular suburbs for investors</a> were those that are more recently developed.
In the inner city the suburbs within a 10 kilometres of the CBD such as <a href="/news">Aberfeldie</a>, has the highest proportion of houses with 90% of these owner occupied. Aberfeldie recently became the first million dollar suburb in the city’s west. <a href="/news">Strathmore </a>ranked second with owner occupiers accounting for 88.6% of houses. The top five is rounded out by <a href="/news">Kew East</a>, <a href="/news">Ivanhoe </a>and <a href="/news">Malvern</a>.
In the middle ring of suburbs, those between 10 and 20 kilometres of the CBD, there is greater disparity in the prices of suburbs popular with owner occupiers.<a href="/news"> Eltham North</a> recorded 94.3% of houses as being owned by their occupiers and second on the list, <a href="/news">Campbellfield</a>, had 91.4%. Campbellfield is much more affordable with a median house value of $334,601 compared to $646,869 in Eltham North.
Finally, in the outer suburbs the highest proportion of owner occupiers at 95.2% can be found in <a href="/news">Montrose</a>. Four of the top five suburbs are in fact are in or near-to the Dandenongs. Second on the list, <a href="/news">Mount Evelyn</a>, has 94.1% of houses owned by their occupiers and <a href="/news">Warranwood </a>has 93.8%. Fifth on the list, <a href="/news">The Basin</a>, recorded 93.7%.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/08/RankedByProportionOfOwnerOccupiers-rpdata.jpg" rel="wp-prettyPhoto[g3656]"><img class="aligncenter size-large wp-image-3657" src="https://blog.rpdata.com/wp-content/uploads/2014/08/RankedByProportionOfOwnerOccupiers-rpdata-580x432.jpg" alt="Melbourne suburbs ranked by proportion of owner occupiers | RP Data" width="580" height="432"></a>
There are 809 auctions scheduled this week in Melbourne compared to 837 for the same time last year. The highest number of auctions are expected in the <a href="/news">South Yarra</a> with 21 expected.
The auction market is gathering strength with an average clearance rate of 70.6% over the past four weeks.
This is the last week before spring officially starts and the latest research from RP Data shows that there have been, including last week, 26.7% more homes sold at auction than the same time last year.
Importantly there have been almost as many extra sales with 24.7% more sales at auction in Melbourne.
At this stage conditions are well balanced between buyers and sellers across the market.
Time on market results for houses sold at private sale was stable at 44 days over the last week whilst vendor discounting rose from -5.1% to -5.2%.
Key data
<ul>
<li>Clearance rate week ending 31 August: 70.7%</li>
<li>Melbourne auctions expected week ending 31 August: 809</li>
<li>Melbourne private sales time on market week ending 24 August: 44 days (houses)</li>
<li>Melbourne vendor discounting market week ending 24 August: -5.2% (houses)</li>
<li>Listings being prepared for market are -0.2% lower in month ending 24 August (seasonally adjusted)</li>
</ul>
</body></html>

Melbourne's most popular owner occupier suburbs: RP Data's weekend auction preview

<html><body>
A preliminary weighted average clearance rate of 66.7% was recorded this week across capital cities compared to 70.8% last week and 70% this time last year.
All capital cities have seen a higher number of auctions than last year. Compared to last year the best performing auction markets from the perspective of relative improvement this year have been Sydney, Tasmania and then Adelaide. Sydney has seen a 63% rise in the number of homes sold at auction, Tasmania a 56% rise and a 48% rise was recorded in Adelaide.  
It should be noted that there have been 357 auctions in Tasmania this year, 2,467 in Adelaide and 22,329 in Sydney.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/08/20140824-Capital-city.jpg" rel="wp-prettyPhoto[g3640]"><img class="aligncenter wp-image-3641 size-large" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140824-Capital-city-580x430.jpg" alt="RP Data auction market review | Capital city" width="580" height="430"></a>
In Sydney a preliminary clearance rate of 76.2% was recorded this week compared to 76.2% last week. Compared to last year and over recent months Sydney has clearly been the strongest auction market.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/08/20140824-Sydney.jpg" rel="wp-prettyPhoto[g3640]"><img class="aligncenter wp-image-3642 size-large" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140824-Sydney-580x382.jpg" alt="RP Data auction market review | Sydney" width="580" height="382"></a>
In Melbourne there was a preliminary clearance rate of 64.1% recorded compared to 73.3% last week. Melbourne remains on trend and once final results are in should confirm it has a healthy auction market on the eve of spring.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/08/20140824-Melbourne.jpg" rel="wp-prettyPhoto[g3640]"><img class="aligncenter size-large wp-image-3643" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140824-Melbourne-580x386.jpg" alt="RP Data auction market review | Melbourne" width="580" height="386"></a>
In Brisbane a preliminary clearance rate of 52.1% was recorded compared to 50% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/08/20140824-Brisbane.jpg" rel="wp-prettyPhoto[g3640]"><img class="aligncenter size-large wp-image-3644" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140824-Brisbane-580x383.jpg" alt="RP Data auction market review | Brisbane" width="580" height="383"></a>
Adelaide recorded a clearance rate of 68.5% compared to 65.6% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/08/20140824-Adelaide.jpg" rel="wp-prettyPhoto[g3640]"><img class="aligncenter size-large wp-image-3645" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140824-Adelaide-580x391.jpg" alt="RP Data auction market review | Adelaide" width="580" height="391"></a>
In Canberra a clearance rate of 46.9% was recorded and in Perth there was a clearance rate of 38.9%.
</body></html>

National auction market well placed for spring sales: RP Data's national auction wrap

<html><body>
There are 689 auctions scheduled this week in Melbourne compared to 712 for the same time last year.
It is encouraging for sellers that for each of the last five weeks the clearance rate has risen in the lead up to spring.
As the market has appreciated over the past year it has resulted in some new suburbs joining the ranks of those with million dollar median values for houses. The new suburbs were <a href="/news">Aberfeldie</a>, <a href="/news">Caulfield South</a>, <a href="/news">Fitzroy North</a>, <a href="/news">McKinnon</a>, <a href="/news">Ormond</a>, <a href="/news">Park Orchards</a>, <a href="/news">Princes Hill</a>, <a href="/news">South Melbourne</a> and <a href="/news">South Yarra</a>.
This is particularly noteworthy as Aberfeldie is the first suburb from the western region of Melbourne to upgrade to the million dollar median value ranks while Fitzroy North and Princess Hill are the first in the north. These changes underscore just how much the structure of the housing market has changed in the last decade.
Time on market results for houses sold at private sale was essentially stable with a small rise from 43 to 44 days over the last week whilst vendor discounting fell from -5.3% the previous week to -5.1%.
Key data
<ul>
<li>Clearance rate week ending 17 August: 73.3%</li>
<li>Melbourne auctions expected week ending 24 August: 689</li>
<li>Melbourne private sales time on market week ending 17 August: 44 days (houses)</li>
<li>Melbourne vendor discounting market week ending 17 August: -5.1% (houses)</li>
<li>Listings being prepared for market are 1.2% higher in month ending 17 August (seasonally adjusted)</li>
</ul>
</body></html>

Melbourne's new million dollar median suburbs: RP Data's weekend auction preview

<html><body>
What drives investment activity in one suburb over another? Is it pursuit of a high yield or is it a desire for good capital gains?
These are often debated topics and interestingly the data suggests there is not one clear-cut answer.
For instance, a review of the proportion of houses owned by investors in the inner, middle and outer suburbs shows a high level of investment in suburbs with low and high yields.
In the inner city, those suburbs within a 10 kilometre radius of the CBD is where the highest level of investors can be found in <a href="/news">Carlton North</a>, followed by <a href="/news">North Melbourne</a> and <a href="/news">Richmond</a>. Carlton North has a historically high level of appreciation and low yield whereas Richmond has a very low appreciation and higher yield.
In the middle suburbs, those between 10 and 20 kilometres from the CBD, the investor activity is highest in growth suburbs with new housing – <a href="/news">Laverton</a>, <a href="/news">Derrimut </a>and <a href="/news">Deer Park</a>. These suburbs have good yield according to the research but lower capital gains prospects given the high level of supply. Conversely, an established suburb such as <a href="/news">Clayton</a> has a high level of investors and very low yield, presumably because the market is purpose-built around students.
Finally, in the outer suburbs the investment activity is again concentrated in growth suburbs which are seeing a high rate of new home construction. For example <a href="/news">Point Cook</a>, <a href="/news">Tarneit</a> and <a href="/news">Truganina</a>.
The research suggests that there is more to the decisions of investors than suburb level analysis of yield and historical capital gains. Issues such as the level of supply is important, some suburbs are popular simply because they provide affordable stock for investors. Others are popular because investors are capitalising on a local factor, such as a university.
Possibly what’s more important is that investment decisions are also made after consideration of the actual house and its relative location and price.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/08/2014-08-20-robert-larocca-blog-img.jpg" rel="wp-prettyPhoto[g3616]" style="line-height: 1.3em;"><img class="aligncenter size-large wp-image-3618" src="https://blog.rpdata.com/wp-content/uploads/2014/08/2014-08-20-robert-larocca-blog-img-580x492.jpg" alt="Investor activity by distance from CBD | Robert Larocca RP Data" width="580" height="492"></a>
Source: RP Data
</body></html>

The Melbourne suburbs investors are most active in

<html><body>
Around one in 10 of all residential home sales in Melbourne transact for more than $1 million and most are concentrated in the inner east and south-east.
Such is the concentration that it is very hard to find a suburb with a median house price of under $1 million along the length of Burke Road.
That is of course no surprise to anyone who follows the local market.
More surprising is the suburbs with million dollar sales in the outer suburbs. For this exercise ‘outer’ includes those suburbs that are 20 kilometres or more from the CBD.
In those areas, the outer suburban million dollar market is most concentrated in the Mornington Peninsula and in the Kingston council area.
A common theme in these suburbs is the proximity to the bay and its associated recreational options.
The highest prevalence was in <a href="/news">Mount Eliza</a> where 83 homes have sold for over $1 million in the past year, 10 of which were sold for more than $2 million. <a href="/news">Mount Martha</a>, which shares many of the same attractions recorded 48 sales at or in excess of $1 million, almost one a week. The median sale price in Mount Eliza was $775,000 and in Mount Martha it was $620,000.
As you travel further south there are a range of other suburbs that recorded more than 10 sales above the $1 million mark including <a href="/news">Sorrento</a>, <a href="/news">Mornington</a>, <a href="/news">Safety Beach</a>, <a href="/news">Rye </a>and <a href="/news">Blairgowrie</a>. Obviously like Mount Eliza and Mount Martha the majority of homes in all of these suburbs sell for well under a million dollars so the data shows that, due to the location within the suburb, a different group of buyers is active.
Clearly you can’t fully judge a suburb by its median sale price.
This is also the case in the City of Kingston, in <a href="/news">Mentone</a>, <a href="/news">Parkdale</a>, <a href="/news">Patterson Lakes</a> and <a href="/news">Mordialloc </a>where between 24 and nine $1 million sales occurred in the last year. With the exception of Patterson Lakes these sales will mostly be in the section of these suburbs between the Nepean Highway and Port Phillip Bay.
The positive impact of the bay on property values extends to Frankston as well where 13 sales in excess of $1 million were recorded in <a href="/news">Frankston South</a> and eight in <a href="/news">Frankston</a>.
Other areas that saw these sales at the very top end of the market were <a href="/news">Eltham</a>, <a href="/news">Mitcham </a>and <a href="/news">Vermont</a>.
There are 658 auctions scheduled this week in Melbourne compared to 668 for the same time last year.
The growth in the volume of homes being listed for sale in Melbourne has slowed following a strong first half of the year.
A range of data available which highlights the moderate, but not strong, nature of the Melbourne market. The most recent of this is the settled sales so far for this year. It shows transactions have only risen by 5% compared to 2013 and remain 18% below the peak of 2007. On current numbers the total number of residential sales in Melbourne is projected to be between 85,000 and 87,000 compared to 82,495 last year and 72,757 in 2012. Remarkably the proportion of homes sold at auction is 35% higher than last year.
Time of market results for houses sold at private sale contracted from 46 days to 43 days over the last week whilst vendor discounting rose from -5.1% to -5.3%. This reflected a largely stable market for houses at private sale.
Key data
<ul>
<li>Clearance rate week ending 10 August: 69.6%</li>
<li>Melbourne auctions expected week ending 17 August: 658</li>
<li>Melbourne private sales time on market week ending 10 August: 43 days (houses)</li>
<li>Melbourne vendor discounting market week ending 10 August: -5.3% (houses)</li>
<li>Listings being prepared for market are 2.7% higher in month ending 10 August (seasonally adjusted)</li>
</ul>
</body></html>

You can’t always judge a suburb by its median sale price: RP Data's Melbourne auction preview

<html><body>
A preliminary weighted average clearance rate of 65.9% was recorded this week across capital cities compared to 68.9% last week, and 70.1% this time last year. 
The lower clearance rate was a result of a softening in the Melbourne market. This contrasted with the very buoyant outcome in Sydney and Adelaide.
<img class="aligncenter size-large wp-image-3590" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140811-Capital-city-580x430.jpg" alt="RP Data National Auction Comment" width="580" height="430">
Sydney continues to be the capital city with the strongest and most consistent auction market. A preliminary clearance rate of 75.5% was recorded this week compared to 76.7% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/08/20140811-Sydney.jpg" rel="wp-prettyPhoto[g3589]"><img class="aligncenter size-large wp-image-3591" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140811-Sydney-580x380.jpg" alt="RP Data National Auction Comment - Sydney" width="580" height="380"></a>
The lowest result in nine weeks occurred in Melbourne where a preliminary clearance rate of 63.9% recorded compared to 69% last week.
Auction numbers have risen in the inner east after a seasonal lull. Rising stock numbers in the next month will clearly test the market.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/08/20140811-Melbourne.jpg" rel="wp-prettyPhoto[g3589]"><img class="aligncenter size-large wp-image-3592" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140811-Melbourne-580x384.jpg" alt="RP Data National Auction Comment - Melbourne" width="580" height="384"></a>
In Brisbane a preliminary clearance rate of 35.3% was recorded compared to 36.7% last week.
<img class="aligncenter size-large wp-image-3593" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140811-Brisbane-580x383.jpg" alt="RP Data National Auction Comment - Brisbane" width="580" height="383">
Adelaide recorded a very strong clearance rate of 75% compared to 61% last week.
Low stock numbers at this time of the year can affect the clearance rate by making in more variable than in spring and summer.
In Canberra a clearance rate of 45.8% was recorded and in Perth there was a clearance rate of 66.7%.
<img class="aligncenter size-large wp-image-3594" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140811-Adelaide-580x387.jpg" alt="RP Data National Auction Comment - Adelaide" width="580" height="387">
</body></html>

Sydney leads as national clearance rate dips: RP Data's national auction wrap

<html><body>
There are 1,726 auctions scheduled across Australia this week.
In capital cities there are 1,372 auctions expected compared to 1,441 for the same period last year. Based on previous years, this annual period typified by low auction volumes should be over by the end of the month.
The national clearance rate has been both stable over the past few weeks and in line with this time last year. Given the higher volumes this means more active buyers are in the market.
<ul>
<li>In Sydney there are 486 auctions expected compared to 588 last week and 521 for this week last year. Last week’s clearance rate of 76.7% was the highest since March. The auction market is following the trajectory of last year which suggests a very competitive spring ahead for buyers.</li>
<li>Brisbane is expecting 97 auctions after 96 last week.</li>
<li>Adelaide is expecting 50 auctions compared to 95 last week.</li>
<li>Canberra has 31 auctions scheduled compared to 28 last week.</li>
<li>Perth has 25 auctions compared to 20 last week.</li>
<li>There are nine auctions scheduled in Tasmania.</li>
</ul>
Across Australia, the highest number of auctions is expected in <a href="/news">Malvern East</a>,<a href="/news"> Balwyn North</a> and <a href="/news">Reservoir</a>, each of which has 13 scheduled.
There are 673 auctions scheduled this week in Melbourne compared to 677 for the same time last year. Buyers are clearly in the market for capital gains, as yields remain low at 3.3% for houses; the lowest of all capital cities.
Low yields translate into good conditions for renters in many parts of Melbourne. Recently released rental market data showed that the median advertised rent for a house in Melbourne was stable in July at $447 per week and has risen by 2.4% in the previous twelve months.
This means that the median advertised rent for houses is not keeping pace with the CPI, 3.2% in Melbourne, for most relevant period. The comparable data for units showed a drop of a dollar a week to $397 over the month and an increase of 1.6% in the year. This reflects the adequate levels of supply in the higher density market.
The average time on market for houses sold last month rose from 44 to 46 days. Vendor discounting rose, but only slightly from -5% the previous week to -5.1% last week.
Key data for Melbourne
<ul>
<li>Clearance rate week ending 3 August: 69%</li>
<li>Melbourne auctions expected week ending 10 August: 673</li>
<li>Melbourne private sales time on market week ending 3 August: 46 days (houses)</li>
<li>Melbourne vendor discounting market week ending 3 August: -5.1% (houses)</li>
<li>Listings being prepared for market are 0.7% higher in month ending 3 August (seasonally adjusted)</li>
</ul>
</body></html>

Period of low auction numbers coming to an end: RP Data's weekend auction preview

<html><body>
A preliminary weighted average clearance rate of 69.7% was recorded this week across capital cities compared to 67.9% last week and 69.3% this time last year.
<img class="aligncenter size-large wp-image-3562" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140804-Capital-city-580x429.jpg" alt="RP Data auction comment - capital cities" width="580" height="429">
Both Sydney and Melbourne, which account for the majority of the auction market in Australia, had strong results with clearance rates above trend.
This week a preliminary clearance rate of 77.6% was recorded in Sydney compared to 75.4% last week. Prior to this weekend the year to date clearance rate was a healthy 74.4%.
<img class="aligncenter size-large wp-image-3563" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140804-Sydney-580x384.jpg" alt="RP Data auction comment - Sydney" width="580" height="384">
In Melbourne a result above trend for the year was reached with a preliminary clearance rate of 70.9% recorded compared to 68.5% last week. Not including this weekends results the clearance rate for the first eight months of the year was 67.3%.
<img class="aligncenter size-large wp-image-3565" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140804-Melbourne-580x380.jpg" alt="RP Data auction comment - Melbourne" width="580" height="380">
In Brisbane a preliminary clearance rate of 32.3% was recorded compared to 44.7% last week. 
Adelaide recorded a clearance rate of 60.3% compared to 60.3% last week.
In Canberra a clearance rate of 59.1% was recorded and in Perth there was a clearance rate of 46.2%.
<img class="aligncenter size-large wp-image-3566" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140804-Brisbane-580x380.jpg" alt="RP Data auction comment - Brisbane" width="580" height="380"> <img class="aligncenter size-large wp-image-3567" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140804-Adelaide-580x384.jpg" alt="RP Data auction comment - Adelaide" width="580" height="384">
</body></html>

Robert Larocca

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Robert Larocca

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News