One of the penthouses at Lily Lane, the latest stage of Carrington Place by Ellipse Property, has set a new local apartment price record.

The four-bedroom residence, purchased by a local downsizer, sold for $5.75 million—around 75 per cent higher than the previous record of $3.3 million.

Over 40 per cent of the first release of apartments at&nbsp;<a href="https://www.apartments.com.au/new-apartments/lily-lane-at-carrington-place-castle-hill-32-carrington-road-castle-hill-nsw-2154">Lily Lane</a> have already been snapped up just six weeks since it launched to the market.

&nbsp;

Located at 32 Carrington Road, <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a> and designed by award-winning architects <a href="https://www.apartments.com.au/architects/ptw">PTW</a>, Lily Lane is directly opposite the Hills Showground Metro station. It offers a total 213 units over two 12-storey towers - a mix of 67 one-bedroom, 100 two-bedroom and 46 three-bedroom apartments - with a ground-floor retail offering.

[smartcode_project:default project_id=151821 project_image_fid=368352]

Blake Schulze, National Director – Residential at <a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a>, says around 44 per cent of buyers are&nbsp;owner occupiers, with 35 per cent being investors and 21 per cent first homebuyers.

“Developments of this calibre are very rare in the Hills District, and Lily Lane’s sales success demonstrates the depth of demand for over-sized apartments that genuinely compete with freestanding homes," Schulze says.

"We are seeing particular demand from downsizers who want to remain in the area but transition into spacious, high-quality apartment living."

On the penthouse sale, it says it shows buyers&nbsp;are prepared to pay a premium for scale, quality, and direct access to the Metro.

[smartcode_project:default project_id=151821 project_image_fid=368351]

One-bedroom apartments are sized from 50-72 sqm with prices starting at $745,000, while two-bedrooms are priced from $990,000 with sizes from 75 to 132 square metres. Three-bedroom floorplans are sized between 97 and 182 sqm,, with prices starting at $1,395,000.&nbsp;

The three remaining penthouses, spanning up to 262 sqm, are priced from $2.9 million.

Over 75 per cent of apartments include dedicated studies, multipurpose rooms or family rooms, with select layouts offering walk-in pantries and laundries. Apartments are appointed with premium Miele appliances including ovens, washing machines, dryers, gas cooktops and dishwashers, while larger residences also incorporate integrated Miele microwaves, Fisher &amp; Paykel integrated refrigerators and five-burner Miele cooktops.

[smartcode_project:default project_id=151821 project_image_fid=360285]

Lily Lane will be constructed by award-winning iCIRT-rated builder <a href="https://www.apartments.com.au/builders/decode">Decode Group</a>, with construction to commence in mid-2026 and expected to complete early 2029.

Carrington Place comprises more than 800 apartments and is being delivered across multiple stages, with completion expected in 2032. Integrated with neighbouring bushland, the project will feature over 20,000 sq, of outdoor recreational area, including a one-kilometre boardwalk to Fred Caterson Reserve.&nbsp;

The Hills Showground Metro Station is just a two-minute walk away, offering fast connectivity to Sydney’s CBD, North Sydney, Chatswood, Macquarie Park and Norwest Business Park.

[smartcode_project_cta:default project_id=151821]

Joel Robinson

Ellipse sets Castle Hill apartment record with $5.75 million Lily Lane penthouse sale

Fresh off completing its Delano Crows Nest development, Lindsay Bennelong has lodged plans for its next project, this time turning its attention to the beach.

The developer, founded by Clarendon Homes founder Peter Campbell, is proposing a 37-apartment scheme at <a href="https://www.apartments.com.au/new-apartments/17-25-ashburner-street-manly-nsw-2095">17-25 Ashburner Street</a>, Manly, positioned between the southern end of <a href="https://www.apartments.com.au/developments/manly-nsw-2095">Manly</a> Beach and East Manly Cove.

Lindsay Bennelong called on local architecture firm Platform Architects to design the new building, given their success on The Finn, Lindsay Bennelong's current luxury apartment project on North Steyne.&nbsp;

According to the Design Verification Statement by Bridie Gough of Platform Architects, the proposal “relates to the current context but also the desired future character of taller buildings suitable to the new planning controls.”

The site has been identified as a Low to Mid-Rise Housing (LMR) location, given its position within 400 metres of the Manly Town Centre E1 Business Zone. The LMR controls are intended to unlock additional housing supply in well-located areas close to public transport, allowing developers to seek increased height limits to support greater density.

“The proposal seeks to provide this increased level of housing whilst being respectful of some of the smaller scale buildings also nearby,” the statement reads.

Lindsay Bennelong Development Director Leigh Manser said the project has been carefully aligned with the intent of the LMR controls. The proposal will significantly increase housing yield on the site, replacing four houses and 10 apartments, comprising 25 bedrooms, with 37 new apartments delivering a total of 94 bedrooms.

“Sydney is in a severe undersupply, and delivering more dwellings and more bedrooms than what currently exists is exactly what the LMR policy is designed to activate,” Manser said, noting that nine of the apartments will be allocated as affordable housing for frontline workers.

“We have already commenced discussions with our community housing provider to determine the rental levels that frontline workers can realistically afford in this location,” he said. “These will need to sit well below the standard affordable housing benchmark of 20 per cent below market rent, and that has been factored into our feasibility and pricing.”

<img alt="Manly" data-entity-type="file" data-entity-uuid="ad03000f-19f9-48b4-b27d-e85ca800a1da" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%208.41.59%E2%80%AFAM.png?VersionId=a.txHwCZgbCInlQ6QXbIrI.umvW1T.r8" />

The design of the building incorporates a wave-like indentation running through the façade, referencing the nearby coastline and anchoring the building within its local context.

The&nbsp;Design Verification Statement says careful consideration has been given to the articulation of the building, ensuring the bulk is broken down to a more human scale through a defined four-storey podium."

The scheme includes a mix of one-, two- and three-bedroom apartments.

“The design ensures a high level of amenity, with apartments offering generous private open space, many with expansive views, and all with comfortable proportions."

<img alt="Bennelong" data-entity-type="file" data-entity-uuid="6a7f2812-72a1-4959-84b0-997e8cd88aed" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%2010.15.50%E2%80%AFAM.png?VersionId=6iMxU3MkXmHVHAoNhYBjnqgka8CUZNbk" />

<a href="https://www.apartments.com.au/developers/lindsay-bennelong-developments">Lindsay Bennelong</a>&nbsp;is currently developing Finn Manly, just three full-floor luxury apartments on North Steyne. They recently welcomed residents to its 81-unit Delano Crows Nest development, a&nbsp;carefully scaled infill project designed to bridge&nbsp;<a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a>’s lively village centre with its surrounding heritage streets.

Designed by&nbsp;<a href="https://www.apartments.com.au/architects/ajc-architects">AJC Architects</a>,&nbsp;<a href="https://www.apartments.com.au/new-apartments/delano-crows-nest-27-57-falcon-street-crows-nest-nsw-2065">Delano</a>&nbsp;is arranged across three low-rise buildings, incorporating a mix of one, two, and three-bedroom apartments alongside a limited number of townhomes addressing Hayberry Lane. The architectural approach draws on the area’s Art Deco lineage, reinterpreted through contemporary detailing and framed by landscaped communal gardens.

The developer also has a development site in Maroubra.

First look: Lindsay Bennelong's new Manly apartment development revealed

Fifty-nine residences across 37 levels. No more than two per floor. With 80 per cent now sold, what remains at <a href="https://www.apartments.com.au/new-apartments/madeline-by-mosaic-broadbeach-22-mary-avenue-broadbeach-qld-4218">Madeline by Mosaic</a> is a short list.

Madeline was always conceived at a scale that sits outside the normal register of Gold Coast apartment living. The residences are half- and full-floor configurations, with the largest spanning more than 400 sqm, dimensions that place them closer to the penthouse end of the market regardless of where they sit in the building.

That scale is the organising principle of everything else: how the floorplans are laid out, how the materials read, how the connection between inside and outside works.

[smartcode_project:default project_id=150135 project_image_fid=355941]

The interiors were developed in collaboration with <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a>, the architecture practice&nbsp;<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic</a> brought in as design partner for the first time on this project. The palette runs to natural stone, textured timbers, and soft metallics, materials chosen as much for their tactile quality as their appearance.

Light cleverly shifts across surfaces through the day, and the design is explicit about wanting that to be noticed. Full-height glazing runs across the primary living areas, and where the building faces east toward the ocean, those walls of glass are doing real work: framing a view corridor that the site's position directly opposite Broadbeach State School's playing fields keeps permanently open.

That outlook is the site's most consequential asset. In a suburb where new towers continue to rise, a protected view line is genuinely rare, and the Mary Avenue address secures it. Residents at Madeline will look out over open parkland rather than the rear of another building, a distinction that becomes more meaningful with each new development approved nearby.

[smartcode_project:default project_id=150135 project_image_fid=355939]

The private outdoor spaces are sized to match the residences themselves. Terraces on the upper levels frame uninterrupted ocean panoramas, and the planning ensures that living areas extend into those outdoor zones rather than treating them as separate attachments. The flow between the two is part of the design intent, not an afterthought.

Inside, the finish specification reflects the same approach. Rich stone benchtops, warm timber joinery, bespoke hardware, each element specified to hold up over time rather than read as a moment in a particular trend cycle.

[smartcode_project:default project_id=150135 project_image_fid=3409]

Beyond the residences, the amenity offering extends that register. A lap pool and sun deck anchor the outdoor space, alongside a magnesium pool, cold plunge, steam room, and sauna.

A commercial-grade gymnasium, residents' lounge, library, and boardroom round out a programme that functions more like a private members club than a standard building amenity floor.

Construction has commenced under Mosaic's in-house building arm, with completion scheduled for late 2028.

[smartcode_project_cta:default project_id=150135]

Madeline by Mosaic delivers penthouse-level living across every apartment

Developer Fortezza Group is the latest to take its new apartment development, <a href="https://www.apartments.com.au/new-apartments/the-belvedere-5-7-church-street-nelson-bay-nsw-2315">The Belvedere in Nelson Bay</a>, to the NSW Government.

Fortezza, predominantly a South East Queensland developer, is the latest to apply for State Significant Development&nbsp; status through the NSW Government's Housing Delivery Authority, a pathway becoming favoured by developers to speed up the approval process.

They are planning 57 two- and three-bedroom apartments across 5-7 Church Street and 42 Donald Street, near d'Albora Nelson Bay Marina. The diverse apartment mix has sizes from just over 80 sqm to the largest three-bedroom penthouses that reach nearly 200 sqm.

<img alt="Fortezza" data-entity-type="file" data-entity-uuid="090360e1-66d7-43ad-b686-aba81f173bf2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-29%20at%2010.22.40%E2%80%AFAM.png?VersionId=DMqF96eBZolqSAAAcugX0l66ueWng66m" />

Fortezza calls the project a "piece of Istria in Nelson Bay,"&nbsp;referring to the largest peninsula in the Adriatic Sea, shared by Croatia (90%), Slovenia, and Italy, which is known for its Roman history, Venetian-style coastal towns and inland hilltop villages.

They say the The Belvedere is strategically positioned at the apex of Nelson Bay, offering unrivalled views of the ocean, the bay and captivating topography of the area.

"Our commitment to maintaining the integrity of every view and sight line has been relentless," Fortezza Group says.

"Through extensive modelling and analysis, we ensure that each apartment enjoys the natural beauty of Nelson Bay, regardless of future developments. Each design element is carefully curated to harmonise with our European heritage, drawing profound inspiration from the Roman architectural marvels in Istria. The arches, the cascades of greenery and the stonework that define our project pay homage to the structures that once exemplified Roman grandeur."

Residents will have access to a pool, communal green spaces, an office and a coffee shop.

First look: Fortezza Group takes The Belvedere, Nelson Bay apartment development, to NSW Government

SEQ developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a>&nbsp;is the latest to jump into the hot Kangaroo Point market, filing plans for a prime site on Lambert Street.

The 52-unit development, predominantly made up of two-bed apartments, will sit on a 1,012 sqm site at 39 Lambert Street, within the&nbsp;Kangaroo Point Peninsula’s Shafston Precinct.

The 15-storey scheme by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>&nbsp;is anchored by a strong focus on mid-sized apartments, with 48 two-bedroom and four three-bedroom dwellings forming the mix. The project includes three basement levels, as well as ground and mezzanine parking, delivering a total of 66 car spaces.

<img alt="First Look: Keylin targets Brisbane’s mid-market with 15-storey Kangaroo Point proposal" data-entity-type="file" data-entity-uuid="0df78d49-0723-442f-917e-fe29f4eb02c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/2_1.png?VersionId=Ud0OP4FZCGFHLvwFWbaeTcYq8Fc2mtdh" />

Planning documents describe the proposal as “a high-density residential outcome that integrates with its context and encourages urban consolidation and the efficient use of land in a well-serviced, inner-city location.”

The building adopts a slender tower form across 15 levels, including a rooftop communal terrace. Its design is shaped by setbacks and orientation that respond directly to neighbouring buildings, achieving up to 20 metres of separation to the adjacent Point Hotel and between 9 and 17 metres to nearby residential developments.

A key design driver is the integration of subtropical and biophilic elements. The architectural concept, described as an “elevated garden sanctuary,” draws from the natural character of the Kangaroo Point cliffs, incorporating landscaped ledges, deep planting zones, and extensive greenery throughout the façade. Curved balconies and layered planting soften the tower’s vertical form, while the lower levels feature heavier landscaping and screening to create a more human-scaled street interface.

<img alt="First Look: Keylin targets Brisbane’s mid-market with 15-storey Kangaroo Point proposal" data-entity-type="file" data-entity-uuid="95bc4974-fcbd-4a9a-9dfb-95b8e1977187" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/4.png?VersionId=o8hwItpcfKBglOaTH8Hv7MmVOphZF_Fg" />

Residents will have access to a rooftop amenity offering spanning approximately 262 sqm, including a pool and spa, gym, lounge areas, and flexible wellness spaces. Landscaping is embedded throughout the building, with over 280 sqm of planted areas integrated across the façade and rooftop.

Kangaroo Point has been popular for developers in recent years. Mosaic Property Group has almost sold out its two Kangaroo Point buildings,&nbsp;<a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford by Mosaic</a> on Prospect Street, and <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter Building on Linton Street</a>.

Kenlynn has <a href="https://www.apartments.com.au/new-apartments/130lambert-112-130-lambert-street-kangaroo-point-qld-4169">130Lambert</a>, just up the road from Keylin's proposal, while Pikos has two projects in the area.

Keylin targets Brisbane’s mid-market with 15-storey Kangaroo Point apartment development

Spring Market

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EXPERT OBSERVATION
The outlook for the property market is expected to be quieter this Spring compared to previous seasons, but buyers are still there, according to home loan lender, ME.
I shared my spring property predictions:
The property market notoriously blooms in spring with a flurry of listings and buyers preparing to pounce.
But this season will be different: the property market will quieter due to the impact of COVID-19, particularly in Melbourne.
Despite some more listings this Spring and record low interest rates, economic concerns will dampen demand.
Plenty of challenges remain including high levels of unemployment, job insecurity and lower immigration, impacting people’s willingness to transact in property.
Many Australians are also on home loan repayment pauses. The gradual end of this type of support will be a critical juncture for the property market going forward.
Demand: first home buyers pounce, dreams of a sea or tree change to become reality
In terms of demand, buyer activity is expected to be overall lower than previous spring buying seasons, but buyers are still there and have a strong appetite for potentially bargain buys.
ME has seen an influx of first home buyers and expects this to continue. Potential for price falls, reduced investor activity together with historically low interest rates and government support are propelling first home buyers into action.
COVID-19 has also led to a re-assessment of life priorities. New remote and flexible working arrangements have made buying in regional areas a more feasible and affordable lifestyle option, and as such we may start seeing more buyers making their move this Spring.
According to ME’s latest Quarterly Property Sentiment Report, 45% of respondents said they were more likely to consider buying in a regional area, to save money and improve their lifestyle − rising to 60% of first home buyers.
Supply: A rush of fresh real estate listings on the horizon
The fallout of the COVID-19 pandemic and lockdowns has caused a short supply of stock. However, this Spring we may see an increase in listings come onto the market. I don’t foresee new stock overwhelming current demand, but certainly anyone listing will be met with a high degree of inquiry.
More competitive home loans
Competition in the home loan market will continue to benefit consumers looking for a good deal. Many lenders including ME have sharpened both <a href="https://www.mebank.com.au/news/perfectly-simple/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">variable</a> and <a href="https://www.mebank.com.au/news/customers-want-low-fixed-rates-for-shorter-periods/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">fixed home rates</a> to attract and retain customers.
Andrew Bartolo is the ME General Manager of Home Loans
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j.ballantyne1990-6AQqhLzZaK

Spring selling season will be dampened under COVID-19: ME's Andrew Bartolo

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Sticks and Wombat’s Elsternwick renovation from the last season of The Block sold after its weekend auction.
Listed with initial $2.65 millionth $2.75 million price hopes, it fetched $2.83 million <a href="https://www.realestate.com.au/property-house-vic-elsternwick-129120878" target="_blank">through Michael Paproth and Peter Kakos at The Agency</a>.
<div class="page" title="Page 1">There were two bidders and no television cameras when the five-bedroom, four-bathroom home went to its onsite Sunday afternoon auction.</div>
<div class="page" title="Page 1"> </div>
<div class="page" title="Page 1">Passed in at $2.66 million, its sold vert shortly after negotiations to a family from the inner south-eastern suburbs.</div>
The 46B Regent Street last sold for $2.65 million amid the Block's typical frenzy last October.
Larrikins, Mark “Sticks” Croker and Clint “Wombat” Price were fourth place getters on the stressful renovation television series.
Taking home a profit of $130,000, it had been built with an extensive use of reclaimed timber.
The New South Wales representatives had been judged as having the best hallway, front facade and garden.
Canberra was the standout capital city at weekend auctions with the strongest preliminary clearance rate of 68.1 percent, according to CoreLogic.
Prices ranged between $450,500 at Barton and $1.5 million at Braddon.
<a href="https://www.realestateview.com.au/real-estate/31-43-blackall-street-barton-act/property-details-buy-residential-12073654/" target="_blank">The one-bedroom Barton apartment</a> (below) had 69sqm of living space plus a 37 sqm balcony, security car space and storage cage.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/9/17/bardon1.jpg" alt="">
Set in the 2004-built Landmark, the Blackall Street property had been a $430 a week rental in 2016.
The <a href="https://www.realestate.com.au/sold/property-house-act-braddon-129144866" target="_blank">46B Girrahween Street, Braddon</a> offering was a single level, four bedroom home with private easy care gardens. 
Built in 2003, the property has tenanted at $1,000 per week increasing this month to $1,025 per week until July 2019 
It rates were advised as $1,044 pq and its land tax as $1,760 pq.
Only 45.1 percent of Brisbane homes sold including the nation's cheapest weekend result.
It was a $150,000 home at <a href="https://www.realestate.com.au/property-house-qld-russell+island-128985554" target="_blank">14 Akebia Street, Russell Island</a> (below) which was sold under mortgagee instruction. Russell Island is the biggest of the Southern Moreton Bay Islands, situated between the mainland and North Stradbroke Island.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/9/17/Bardon.jpg" alt="">
The three bedroom home had been for sale earlier this year at $229,000 with $235 a week tenancy on offer.
The combined capital cities saw an increase in the number of homes taken to auction to 1,985 auctions held, up from 1,916 auctions.
The preliminary auction clearance of 55 percent was lower than the previous week’s 55.3 per cent final clearance rate.
<div class="column">
"This week’s clearance rate is the lowest preliminary result seen so far this year, it will be interesting to see how this revises as final results are collected," CoreLogic auction analyst Kevin Brogan said.
"So far the Spring selling season has seen a lower volume of auctions take place each week relative to the same period last year, demonstrating the reluctance within a softening market," he added.
</div>
<div class="column">
There were 991 Melbourne homes taken to auction this week, down on one year ago's much higher 1,265 homes.
Melbourne posted a preliminary clearance rate of 57.2 per cent.
Melbourne cheapest sale was a studio apartment at <a href="https://www.realestateview.com.au/real-estate/302-18-34-station-street-sandringham-vic/property-details-buy-residential-12049262/" target="_blank">302/18-34 Station St, Sandringham</a> (below) which fetched $275,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/9/17/strad1.jpg" alt="">
A kew home was Melbourne's dearest. The renovated 1890s Victorian house at <a href="https://www.realestateview.com.au/real-estate/2-belmont-avenue-kew-vic/property-details-sold-residential-12065448/" target="_blank">2 Belmont Avenue, Kew</a> (below), offering with a price guide of $3.5 million to $3.85 million, sold to a Kew downsizer for $3.83 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/9/17/kew1.jpg" alt="">
In Sydney, 52.6 per cent of properties sold, with 665 homes taken to market.
Last year, there were 916 Sydney homes taken to auction with 64.2 per cent being sold.
Sydney has the nation's top sale which was secured in a pre-auction offer for 15 Kareelah Road, Hunters Hill.
The five bedroom non-riverfront <a href="https://www.realestate.com.au/sold/property-house-nsw-hunters+hill-129088850" target="_blank">1871 sandstone residence Doonbah</a>, set on the peninsula with views over the Parramatta River back to the city, fetched $5.61 million through Tracey Dixon at McGrath.
There had been a $4.85 million price guide.
It was sold by Matt and Jo Sandford, founders of online personal card seller Yellow Postie.
</div>
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Sticks and Wombat Elsternwick cottage renovation resold for slightly more

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Are you getting ready to sell your house?
Setting the right asking price is going to be challenging for vendors as spring volumes peak and the summer break looms.
It can be a tricky task, especially when the property market is displaying signs of movement.
Sometimes a home can be listed into a seemingly strong market, which then weakens during the marketing campaign.
Most asking prices tend to a little above what the vendor will actually take, as this allows some negotiating space between the buyer and seller.
Often vendors get a very realistic offer early on from buyers who've been in the market for some time. They might also get a cheeky lowball offer.
It is one of those ponderables as to whether it is best to accept a speedy sale, or wait for that desired higher price.
Higher discounting certainly occur longer into marketing campaigns when the asking price simply doesn't match buyer interest so a vendor eventually accepts a figure well below the initial advertised price.
At the moment Sydney vendors are typically accepting 5.1% discounts on their asking prices to secure their house sales. It was 4.8% at the start of the spring selling season according to CoreLogic.
Canberra is a hot market so its vendors need only to discount by 2.5%, while Darwin is ailing and it requires a 9.9% discount before most sales are done.
The national average sits at just above 5%, with peaks over the past decade seeing 8% required discounting across Australia.
Ofcourse you will have your own idea on the worth of your property, but it is important to canvas and listen to the professions.
Before you signup to one agent, for auction or private treaty, be sure you get two or three other local agents to come through your property.
They will happily provide a report on how they see the local market, its likely direction, and just where your property sits within it.
It is important to get these varied insights for the best way forward.
And don't necessary simply select the agent who promised the highest price outcome.
You have to be comfortable working with your agent all the way through the listing.
Ofcourse the lucky vendors will find a buyer as soon as the for sale sign goes up from someone who's always fancied your home from just along the same street.
The less fortunate will be nervously hoping they finally get that pre-Christmas buyer, forever grateful they had secured extended settlement terms on their next home purchase.
The key is ascertaining where the localised market is placed pricewise, and often that relates to the level of stock.
Overall there's some 25,000 offerings across Sydney - around 20% more stock than the same time last year, which means buyers have more choice. There were 22,000 listings at the start of spring.
Ask your prospective estate agents what, say, four bedroom house stock levels have been in your suburb over recent times, and also find out what sales they have actually secured. 
Asking prices can of course change throughout a campaign but if a vendor’s expectation was unrealistically way too high even this is unlikely to trigger any sale.
This article first appeared in The Daily Telegraph. 
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Setting the right asking price is a fine balance

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With the Springtime property season starting, lenders are going all the way to woo potential borrowers and grow their market share.
The latest to join the trend is HSBC, following moves by major banks such as Westpac and NAB. 
Westpac recently announced it was cutting mortgage interest rates by up to 85 basis points and waiving fees on other products.
Comparison website Mozo too announced its list of the best home loans in the market, with the lowest product being Loans 3.64 percent variable rate.
The Essentials Variable 80 also didn’t have any ongoing fees, though it had an upfront fee.
In second place on Mozo’s list was the Newcastle Permanent Discounted Variable Home Loan product.
It too had a 3.64 percent variable interest rate, no upfront fees and allows a borrower to get a loan with just 5 percent deposit.
Close on its heels was UBank’s UHomeLoan which offered a 3.74 percent variable rate. It also has no ongoing or upfront fees.
Mozo said the product won in categories including best Low Cost, Split Home Loan and both Fixed and Variable Investor Loans. 
Interestingly, the only lender that had two products in the top seven list from Mozo was Loans.
Its second product was the Offset Variable 80 which had a 3.72 percent variable rate. Again, the product has no ongoing fees though there is an upfront fee of $250. 
Below is a table of offers for owner occupiers and investors from Loans.
<a href="https://www.propertyobserver.com.au/images/2017/09/05/LoansOwner.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/05/LoansOwner.png" alt="">
According to Mozo, the product is well suited to borrowers looking for an offset home loan to help pay less interest and repay their loan faster. It's available to owner occupiers borrowing up to 80% of a property's value.
None of the Big Four banks were on the list.
On lower interest rate products, HSBC Australia’s head of mortgages and third party distribution, Alice Del Vecchio, said “lower rates in the market are encouraging customers to refinance their loans, but 25% of mortgage holders don’t know what their home loan rate is, making it harder for them to recognise the financial benefit of switching their loan”.
Del Vecchio added that its 3.65% p.a. rate can “make a huge impact on the savings over the life of the loan, not to mention freeing up money in the short-term with potentially lower repayments”.
A home owner with a $700,000 variable rate loan at 4.00% p.a. will save more than $40,000 over the life of the loan by switching to HSBC’s lower rate.
The bank also ran a survey, along with RFi Group, on 2,000 mortgage holders in Australia to get a feel for home owner attitudes and motivations.
Of those polled, 30% said speaking to a mortgage broker was one of the first steps towards refinancing a mortgage while 25% said they researched loans online.
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