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.

Joel Robinson

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.

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&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

Toorak's dress circle St Georges Road, home to some of the city's priciest homes, is set for a rare new apartment development.

Blood Diamond Group, an entity tied to Tina Brandi, wife of David Brandi who has been a prolific bidder on The Block over the years, has filed plans for an ultra-exclusive development across an amalgamated 3,662 sqm site at <a href="https://www.apartments.com.au/new-apartments/104-106-st-georges-road-toorak-vic-3142">104 and 106 St Georges Road</a>.

The proposal would replace two existing homes on the riverfront site with a five-level apartment building cascading down the steeply sloping land toward the Yarra River. Designed by Charles Wright Architects, the development has been carefully shaped around the site’s topography and river environs, with the upper levels stepping back to reduce visual bulk from both St Georges Road and the Yarra corridor.

Planning documents describe the proposal as “a site layout and building typology that is consistent with the emerging character of the area and which provides exceptional amenity for future residents without compromising that of neighbouring properties.”&nbsp;

<img alt="First look: Blood Diamond Group unveils riverfront apartment plans for Toorak Pavilion" data-entity-type="file" data-entity-uuid="ea19a17e-7528-4fa8-b727-05f2f7c025e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Toorak%20pavilion%20a_0.png?VersionId=rZ2IjdoUL_UrRl1sZ4wZHnQXbYUaEmUQ" />

The scheme comprises 12 apartments, including 10 three-bedroom residences, one one-bedroom apartment, and a substantial split-level five-bedroom penthouse. A 624 sqm communal rooftop terrace will crown the building, while three undercroft levels embedded into the hillside will accommodate apartments and basement parking.

The design leverages the site’s dramatic northern outlook across the Yarra River, with living areas and balconies oriented toward the water. A central atrium running the full height of the building is intended to draw natural light deep into the residences and improve internal amenity.

Landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo Design &amp; Landscape</a> will play a major role in softening the built form, particularly along the river edge where significant setbacks have been introduced. The proposal includes a minimum 30-metre setback from the Yarra River boundary, preserving a substantial landscaped buffer between the development and the waterway.

While a mature English Oak near the front of the site is proposed for removal, the plans retain a large English Elm closer to the riverfront, alongside other established vegetation in the lower section of the property.

<img alt="First look: Blood Diamond Group unveils riverfront apartment plans for Toorak Pavilion" data-entity-type="file" data-entity-uuid="ed3bf19b-5bc7-482f-bde7-41f709a13c3a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Toorak%20pavilion%20b.png?VersionId=SG_kBGu4rOaSPY8FtVcmPJfSCrstuOfg" />

Architecturally, the building adopts strong horizontal forms with expansive glazing and curved balcony edges facing the river. Planning documents note the upper levels “adopt a receding form” to ensure the building responds appropriately to the Yarra River environs overlay controls.&nbsp;

The surrounding streetscape is characterised by large contemporary homes embedded into the hillside, many presenting as modest one or two-storey forms to the street before expanding toward the river frontage below. The planning report notes this established pattern heavily influenced the massing strategy for Toorak Pavilion.&nbsp;

Until the recent sale of the landmark Clendon Road mansion Coonac for around $130 million, St Georges Road held the state's most expensive home, the $80,000,088 derelict "Ghost House" mansion that was bought by crypto king Ed Craven.&nbsp;

Blair House, also on St Georges Road, sold for $74.5 million in 2022.

First look: Toorak Pavilions slated for dress circle St Georges Road

Six months after a development site on Kangaroo Point’s Shafston Avenue sold for $6.55 million, plans have been lodged for a 23-storey apartment tower.

A company named JMT Mega Capital, understood to be interstate investors when the 1,222 sqm double block traded late last year through Patona Property, is proposing an 84-apartment development in place of the existing low-rise buildings.

The slender tower at <a href="https://www.apartments.com.au/new-apartments/212-220-shafston-avenue-east-brisbane-qld-4169">212–220 Shafston Avenue</a>, overlooking the Brisbane River, has been designed by <a href="https://www.apartments.com.au/architects/aplus-design-group">Aplus Design Group</a>. It will comprise a mix of one-, two- and three-bedroom apartments above six basement levels, topped by rooftop resident amenities.

<img alt="First look: 23-storey Kangaroo Point tower planned for Shafston Avenue riverfront precinct" data-entity-type="file" data-entity-uuid="7e17ba9e-553e-42ef-92b6-22081671521a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_3.png?VersionId=hlVUf99vrOjUs.vhQs0qV0DhOncUy9T8" />

The development has been designed as a vertically articulated tower with recessed balconies, curved façades and planted edges intended to soften its scale within the evolving Shafston Avenue skyline. In the submitted Urban Design Report, Aplus Design Group said the tower had been “shaped with a slender vertical expression, articulated façades, recessed balcony zones, integrated planting and a clearly defined podium relationship, helping to reduce perceived bulk and create a more elegant contribution to the Shafston Avenue streetscape and broader Kangaroo Point skyline.”

The scheme comprises 84 apartments, including 25 one-bedroom units, 34 two-bedroom apartments and 25 three-bedroom residences. A total of 104 car spaces are proposed across six basement levels, including resident, visitor and accessible parking.

Residents will have access to rooftop communal open space and shared amenities, while the development also incorporates deep planting zones and subtropical landscaping throughout the podium and tower levels. The project includes 35 per cent communal space coverage across the site and a 17.5 per cent deep soil zone allocation to support urban greening outcomes.

The application exceeds the mapped building height under the Kangaroo Point Peninsula Neighbourhood Plan and is being assessed under Brisbane City Council’s impact assessment pathway. The design team argues the additional height is supported by the site’s strategic inner-city location, existing high-density zoning, and proximity to transport and employment hubs.

“The design has been developed to make better use of a well-serviced urban site within an established high-density residential setting, while improving the street presentation and overall quality of the public realm interface,” the report states.

<img alt="First look: 23-storey Kangaroo Point tower planned for Shafston Avenue riverfront precinct" data-entity-type="file" data-entity-uuid="1ab44b1e-ff45-4bf3-8da8-8aa0cd79db33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_10.png?VersionId=tSxeGekZOqj1e9g3PEn_yFoC3taKDp3U" />

The proposal adds to a growing pipeline of apartment developments reshaping Kangaroo Point ahead of the 2032 Brisbane Olympic Games, with demand continuing to strengthen for new housing supply in well-connected inner-city precincts.

Mosaic has nearly sold out its under-construction <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>&nbsp;and <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter</a>,&nbsp;while Pikos recently completed <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye Residences</a> nearby. Pikos is also delivering <a href="https://www.apartments.com.au/new-apartments/gaia-kangaroo-point-108-lambert-street-kangaroo-point-qld-4169">Gaia</a>, over 230 three- and four-bedroom apartments on Lambert Street.

First look: 23-storey Kangaroo Point apartment tower planned for Shafston Avenue riverfront precinct

Vaucluse

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A block of nine apartments sold on the weekend following a makeover in Vaucluse for $10.4 million.

The three storey complex at 8 Marne Street has 15 bedrooms.

The selling agent Paton Jamieson advised the 1970s block had undergone a recent transformation so generous depreciation benefits were available.

The whole block on a 576 sqm block was traded in February last year at $7 million, and at $5.75 million in 2015.

It has 3x1 bedroom apartments, plus 6x2 bedroom apartments and 7x single lock-up garages.

When sold last year its gross annual income was put as $251,000 with an estimated market gross income of $288,600 after a rental reversion opportunity to increase rents to market at lease expirations.

It came with a NLA of 513sqm.

The Orcades coplex is located close to the Vaucluse Village in a pet friendly community.

Some apartments had ocean views.

McDonald Industries had been preparing to sell the apartments separately with pricing from $899,000 for the one bedroom apartments and the two bedroom apartments from $1,095,000.

<h2>Popular Vaucluse projects to check out:</h2>

[smartcode_project:default project_id=84683]

[smartcode_project:default project_id=8392]

[smartcode_project:default project_id=29375]
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A block of nine apartments has sold in Vaucluse for $10.4 million

jchancellor

Vaucluse apartment block sells for $10.4 million

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Canberra was the standout performer for another week with over 80 percent of weekend auctions being successful.
Adelaide’s clearance rate took a hit as the city entered into lockdown during the week, reducing from an 80 percent final clearance rate last week to a 41 percent success rate this week with many auctions withdrawn.
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There were 1,791 homes scheduled for auction across the nation's combined capital cities this week and of the 1,442 results collected so far by CoreLogic, 73 percent have reported a successful result.
This week’s volumes were not only higher than last week’s 1,728 auctions held, but the highest number of auctions held since April.
 Preliminary figures indicate that the clearance rate weakened over the week, after last week’s higher preliminary figure of 75 percent, which later revised down to 70 percent at final figures. 
One year ago, a much higher 2,612 homes were auctioned, when a lower 68 percent cleared.
In Melbourne, volumes increased over the week with 632 properties scheduled to go under the hammer, of the results collected so far a preliminary clearance rate of 77 percent was recorded. 
This was higher than both last week and last year’s clearance rate, however volumes are only half of that seen last year. Last week, 604 Melbourne homes were auctioned recording a final auction clearance rate of 69 percent and last year a 70 percent clearance rate was achieved across 1,221 auctions.
It was the last weekend with Melbourne auctions to be held with only 10 bidders allowed to attend an auction or home inspection.
There has now been an easing of coronavirus-related rules, from midnight Sunday, to allow 20 people at a private inspection as long as social-distancing rules are met. 
Up to 50 people will also be able to attend an auction held outside under the new rules that were introduced.
Melbourne’s top reported weekend sale was $4 million in Malvern (top and below), having come with a $3.9 million to $4.2 million Marshall White price guide.
<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/2020/NOV/23/Malvern%202.jpg" alt="">
The four bedroom contemporary home behind its 1890s facade at 46 McKinley Avenue last traded in 2003 prior to its 2008 Canny Homes rebuild at $1.17 million.
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There were 807 Sydney homes taken to auction over the week, preliminary figures show that 76 percent sold, lower than last week’s preliminary figure of 76 percent when volumes were a higher 840. 
Sydney’s final clearance rate came in at 71 percent last week, "so it’s likely this week’s will be similar," CoreLogic noted.
 One year ago, 940 Sydney homes were auctioned returning a final clearance rate of 76 percent.
Sydney prestige sales included a $16.6 million house in Vaucluse. Wendouree, a Vaucluse house listed through Sotheby's for the first time in eight decades, was the nation’s top sale.
There was also a $11.01 million sale through Sotheby's in Bellevue Hil, which was $1.5 million above the reserve.
The four-bedroom home on 830 sqm, at 29 Kambala Road, Bellevue Hill, attracted six registered bidders. 
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jchancellor-FAypfDUnLy

Melbourne continues residential auction rebound

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Sydney recorded another strong week of auction clearance rates, with preliminary result of 75 per cent of property selling under the hammer on Saturday.
The headline came from Vaucluse where the auction record was broken for the first time in over a decade.
It had been held a $23 million purchase of the Bellevue Hill mansion Le Manoir in 2009.
But now the former home of the late Japanese billionaire Akihito Terada holds the accolade, selling for $24.6 million, some $10 million over reserve.
The 2009-built home (pictured in title), last traded for $11.7 million in 2013.
Sotheby's agent Michael Pallier marketed the Vaucluse Road home on 1,085 sqm which has five bedrooms, six bathrooms, a tennis court and an indoor/outdoor heated lap pool.
The purchaser was a young local Chinese family that had never bid at auction before.
<a href="https://www.propertyobserver.com.au/images/2020/9/28/CL%20SEPT%2028.JPG" target="_blank">Click to enlarge:</a>
<img src="https://www.urban.com.au/images/2020/9/28/CL%20SEPT%2028.JPG" alt="">
Sydney's strong auction clearance rate comes from 630 auctions, down from the forecast 843 homes expected on Friday.
Melbourne's auction market remains dried up with the 49 properties going under the hammer. Just 14 sold.
Across the smaller auction markets, both Adelaide and Canberra saw strong clearance rates of above 77% while Perth struggled and Tasmania saw zero auctions.
 
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jrobinson-rf4aSBido9

Sydney auctions clear 75 per cent with record $24.6 million Vaucluse sale

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Sydney saw a preliminary clearance rate at 72.2 per cent after 435 reported results were received.
Of these, 67 properties withdrawn from auction and there are further results yet to be be advised from the 610 scheduled auctions on Saturday in Sydney.
One of the big sales saw a non-harbourfront Vaucluse semi (above and below) sell for $5.5 million.
Domain reported the two-bedroom home at 10 Coolong Road, on the market for the first time in 45 years, was knocked down to near neighbour, estate agent Alexander Phillips.
There were nine registered parties who took the bidding at the Sotheby's auction to $2 million over reserve.
<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/2020/9/21/Coolong%202.jpg" alt="">
CoreLogic figures had a 72.4 per cent clearance from the 562 reported results of its 679 scheduled auction tally.
It was up on the previous week's preliminary 70.4 per cent rate which was revised down to 65.9 per cent after late results.
Canberra saw a preliminary clearance rate of 89 per cent after 65 reported results of its 74 scheduled sales.
It was 64 per cent in Adelaide and 61.9 per cent in Brisbane.
There were only 13 auctions scheduled across Victoria on Saturday, with in-person auctions resuming in regional Victoria.
An older-style home in Edithvale sold under the virtual hammer with 84 Rae Avenue fetching $963,500.
It sold to a developer, Domain reported.
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j.ballantyne1990-6AQqhLzZaK

Sydney auction success rates sits in the 70s

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Sydney’s auction market saw a preliminary clearance rate of 70.9 per cent.
Some 284 results had been reported, following 449 scheduled auctions, of which 56 were withdrawn from sale. 
Melbourne’s stage 4 restrictions on auctions and inspections saw the preliminary clearance rate fall to 53 per cent, according to Domain.
There were 139 scheduled online auctions, with 63 reported results and 46 withdrawals.
Of the online auctions that went ahead, the clearance rate was 67 per cent.
Canberra continues to be the standout performer with 87.8% of auctions successful this week at preliminary collection. The city does only account for a small portion of overall auctions however.
<div class="fe-co-audience-experiments" data-febuild-id="fe-co-audience-experiments_1"> </div>
<div class="fe-co-audience-experiments" data-febuild-id="fe-co-audience-experiments_1"><img src="https://www.urban.com.au/images/2020/8/24/CL%20AUG%2024.png" alt=""></div>
<div class="fe-co-audience-experiments" data-febuild-id="fe-co-audience-experiments_1"> </div>
<div class="fe-co-audience-experiments" data-febuild-id="fe-co-audience-experiments_1">The top sale was $7.2 million in Vaucluse.</div>
<div class="fe-co-audience-experiments" data-febuild-id="fe-co-audience-experiments_1"> </div>
<div class="fe-co-audience-experiments" data-febuild-id="fe-co-audience-experiments_1">Another of the big auction results was the four-bedroom home at 42 Bulls Road, Burraneer (pictured in title), that told for $7.1 million, some $1.85 million above the reserve. </div>
<div class="fe-co-audience-experiments" data-febuild-id="fe-co-audience-experiments_1"> </div>
<div class="fe-co-audience-experiments" data-febuild-id="fe-co-audience-experiments_1">In Little Bay in Sydney’s south-east, a five-bedroom, four-storey home at 6 Lister Avenue sold for $6.4 million.
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Sydney auction success rate moves into the 70s

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Optus chief exec Kelly Bayer Rosmarin and her CBA banker husband Rodney Rosmarin are selling their Vaucluse home.
They’re selling the Brian Meyerson-designed home they bought for $4.5 million in 2012, just as the five Sydney property boom began.
The 2009-built home near Parsley Bay, set in 800 sqm of Peter Fudge gardens and with interiors from Shellee Gordoun, has five bedrooms, a gym and a heated pool.
Laing + Simmons Double Bay agents D’Leanne Lewis and Jacob Hannon are asking between $7.2 million to $7.3 million for what they describe as the “quintessential Vaucluse home”.
Rosmarin took the top job at Optus from outgoing boss Allen Lew in April, having joined the telco as deputy CEO just over a year earlier.
Rosmarin and Beyer have owned a luxury Bowral weekender since 2009 when they paid $2.25 million for a 1915-built manor.
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Optus boss Kelly Bayer Rosmarin lists Vaucluse home

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Star Entertainment Group boss Matt Bekier is moving on from Vaucluse.
He and wife Melinda have listed their renovated 1930s European-style home they paid $4.05 million for in 2012, shortly after Bekier departed Tabcorp where he was their chief financial officer.
Now they're asking $7.5 million for the seven bedroom, five bathroom home with swimming pool through Raine and Horne agents Sam Schumann and Luke Hogan.
The sale comes with approved plans from Weir Phillips Architects which would see a top floor redesign, accessed by a spiral staircase through the centre of the home.
The plans are also for a renovation of the outdoor entertaining space, as well as providing lift access and additional parking.
The Bekier's have owned a beach house down in Callala Bay, near Jervis Bay, since paying $1.1 million in 2014.
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Star Entertainment boss Matt Bekier lists in Vaucluse

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Star casino chief Matt ­Bek­ier and his wife Melinda snappily sold their seven-­bedroom, five-bathroom Vaucluse home mid-week. 
It had been listed with a $7.5 million to $8.2 million guide by Raine &amp; Horne agent Samuel Schumann.
<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/2020/8/5/Matt%20Bekier%202.jpg" alt="">
It seems it happened so quickly the agency hadn’t quite updated the open for inspection web notifications, so hopeful attendees were still turning up yesterday.
The three-level house last traded in 2012 for $4.05 million when sold by former rugby league player-turned hotelier Steve Bowden.
The home was bought shortly after Bekier departed Tabcorp, where he was CFO.
<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/2020/8/5/Matt%20Bekier%203.jpg" alt="">
Fairview’s prior owners include art dealer Marlene Antico.
It now comes with $667,000 approved plans from Weir Phillips Architects that would see a top-floor redesign, accessed by a spiral staircase as well as a lift.
The Bekier’s have owned a beachfront house at Callala Beach on Jervis Bay since 2014 that cost $1.1 million.
This article first appeared in The Sunday Telegraph.
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Star Entertainment boss Matt Bekier sells Vaucluse home in 10 days

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Former Australian cricket captain Steve Smith has spent $6.6 million on a family home in Vaucluse.
The four-bedroom, six-bath home was inspected by Smith and his wife Dani Willis in late May, having been leasing nearby.
Danny Doff of Laing and Simmons Double Bay secured the sale which Smith and Willis will renovate extensively.
The house, which has an inground pool, gym, steam room, four-car garage, 400-bottle wine cellar and travertine-tiled outdoor entertaining terrace with a built-in BBQ and wine fridge, last traded in 2005 for $3.22 million.
It also has views out towards Sydney Harbour. Prior to buying the home, the Smiths had been renting in the area, having sold the Coogee apartment they had owned since 2011.
Smith had other reasons to celebrate this week, marking his return to training with a cheeky Instagram post.
Fully padded and wearing a helmet, he told his two million followers: “First hit in the nets in 3 months. Good news...I remembered how to hold the bat.”
Smith and the Aussie team haven’t played a competitive game since their one day international win over New Zealand in mid-March. The series was cancelled shortly after due to the pandemic.
The couple add the Vaucluse house to an already-crowded property portfolio, which also includes homes in Balmain, Birchgrove, Marrickville and Sans Souci.
This article first appeared in The Daily Telegraph.
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Former Australian cricket captain Steve Smith buys Vaucluse home

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There has been a $900,000 loss taken on a non-harbourfront Vaucluse listing.
The knockdown home on the high side of prestigious Carrara Rd fetched $10.9 million midweek via private treaty, having sold a year ago at $11.8 million to the Grunberg family from North Bondi.
The single level home, on its 728sqm cul-de-sac block, had ­previously been the abode of ­Michael Caredes and his wife Fylia for 44 years.
The resale price, after 50 days on the market, reflects a 7.5 per cent price drop, at the lower end of the worse case COVID-19 price collapse forecasts. The $900,000 decline comes after its $765,000 stamp duty purchase outlay, plus its 8.25 per cent mortgage rate.
Laing and Simmons agent D’Leanne Lewis handled both sales.
The property, which has views of the Harbour Bridge across the 1930s hospital dormitory building on the Strickland House estate, comes with a 1950s height covenant from a neighbouring Vaucluse Rd home.
Up the other end of Carrara, another non-waterfront sale has been done at $7.5 million, less than the $10.85 million sought on its initial 2018 listing. The house is set on 600 sqm above the Hermitage estate.
This article first appeared in the Sunday Telegraph. 
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