Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

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One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Weekend Auctions

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Adelaide was the best performing weekend auction capital with its affordable prices ranging between $330,000 and $1.45 million.
It scored a 75 per cent clearance rate from its 107 auctions.
Perth returned the lowest preliminary auction clearance rate of 52 per cent.
Auction volumes surge well past 3,000 for the first time this year returning a strong national preliminary auction clearance rate of 70 per cent.
There are two more so-called Super Saturdays squeezed in before the Easter break.
Click here <a href="https://www.propertyobserver.com.au/images/2018/2/26/capitals.jpg" target="_blank">to enlarge.</a>
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Upcoming Melbourne sellers include AFL champion Bryce Gibbs.
His former Ascot Vale home (above) before moving interstate to join the Crows has been listed for March 17 auction. 
The former Carlton player bought the two-storey, three-bedroom townhouse at <a id="LPlnk679169" href="https://www.realestate.com.au/property-townhouse-vic-ascot+vale-127607706" target="_blank">67c St Leonards Rd </a>in 2008.
The cheapest weekend result across the capital cities was when a student studio apartment sold pre-auction in Footscray at $120,000.
The sale of <a id="LPlnk308525" href="https://www.realestate.com.au/sold/property-studio-vic-footscray-127480502" target="_blank" rel="noopener noreferrer">224/133 Droop Street offering</a> was a $220 a week rental.
It was listed with a $105,000 to $110,000 price guidance.
The low rise apartment with around 40 sqm had previously traded at $122,000 in 2015. It sold at $127,000 in 2013. 
Across the combined capital cities there was a a total of 3,275 homes taken to auction, up from the prior week's 1,992 auctions when some 66.1 per cent were sold.
It remains down on the same week one year ago when agents secured a 78.4 per cent success rate across a slightly higher volume of 3,301 auctions. 
"Units outperformed the house market, with 72.9 per cent of units selling at auction, while 69.5 per cent of houses sold across the combined capitals," Kevin Brogan, auction analyst at CoreLogic said. 
The highest national sale was in Melbourne when <a id="LPlnk703549" href="https://www.realestate.com.au/sold/property-house-vic-middle+park-127461722" target="_blank" rel="noopener noreferrer">33 Canterbury Road, Middle Park</a> (below) fetched $5.75 million shortly after its auction which had a $5.45 million top bid.
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It was Eumeralla, a five bedroom Victorian terrace home on a 50 metre deep allotment. It had soaring ornate ceilings, marble fireplaces, arched entrance hall, gracious sitting room and main bedroom with full width balcony.
Marshall White secured the sale of the home which last sold at $2.5 million in 2006.
There were two bidders.
The highest Sydney sale under the hammer was the five bedroom <a id="LPlnk905843" href="https://www.realestate.com.au/property-house-nsw-strathfield-127449738" target="_blank" rel="noopener noreferrer">29 Cotswold Road Strathfield</a> which sold for $4,810,000.
It last sold in 2003 at $2 million.
There was a pre-auction sale of <a id="LPlnk767615" href="https://www.realestate.com.au/sold/property-house-nsw-bronte-127339282" target="_blank" rel="noopener noreferrer">4 Bayview Street, Bronte</a> for $7.5 million (below).
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Melbourne and Sydney both secured auction clearance rates of 71.7 per cent.
Melbourne's was up on the 69.8 per cent final result from the prior weekend.
Its volume jumped to 1,610 auctions held, up from 932 auctions.
In Sydney, 1,221 homes were taken to auction, up from the 737 offered over the prior week. 
Its preliminary result of 71.7 percent, was up on last week’s final clearance rate of 67.8 per cent.
Brisbane had a 53.3 percent clearance rate from 164 auctions listed. Its top sale was $5 million at Chelmer. <a id="LPlnk17197" href="https://www.realestate.com.au/property-house-qld-chelmer-127332058" target="_blank" rel="noopener noreferrer">The 127 Laurel Avenue sale</a> was a five bedroom Knowlman McDonald-built home on a 3122 sqm river frontage sold through Adcock Prestige. 
Adelaide's dearest was a tight finish between <a id="LPlnk946036" href="https://www.realestate.com.au/property-house-sa-henley+beach-127482362" target="_blank" rel="noopener noreferrer">a four bedroom $1.42 million Henley Beach offering</a> and <a id="LPlnk429905" href="https://www.realestate.com.au/property-house-sa-glenelg+east-127505126" target="_blank" rel="noopener noreferrer">a five bedroom $1.42 million Glenelg East house</a>. 
Adelaide's cheapest was <a id="LPlnk416596" href="https://www.realestate.com.au/property-house-sa-semaphore+park-127547786" target="_blank" rel="noopener noreferrer">a $330,000 Semaphore Park two bedroom apartment</a> that looked over Point Malcolm Reserve to the sea.
The 12/403 Esplanade offering was a two storey 80 sqm late 1960s apartment with a rental estimate of $320 to $340 per week.
 
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jchancellor-FAypfDUnLy

National clearance rates heads above 70 percent on summer's last hurrah

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Victoria has the most auctions among the capital cities this weekend, according to CoreLogic's weekend auction preview.
Melbourne's Point Cook is the busiest suburb with 12 auctions scheduled, while Sydney's Dee Why is second with 11 auctions set.
A four bedroom house at Point Cook has been listed for sale with over $600,000 hopes. 
The <a href="https://www.realestate.com.au/property-house-vic-point+cook-127257018" target="_blank">35 Martaban Crescent</a>  (pictured below) home has been scheduled for February 10.
It comes with four bedrooms, double remote garage and a north-facing rear garden.
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Another auction is a three bedroom terrace in Point Cook, which also has been scheduled for February 10 auction.
Located at <a href="https://www.realestate.com.au/property-house-vic-point+cook-127306386" target="_blank">42 Middleton Drive </a> (pictured below), this house has uninterrupted views of the parkland.
It has three bedrooms, an open plan kitchen and a remote control double car garage.
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The combined capital cities are set to see a notable increase in activity over the week, with 1,371 properties scheduled to go to auction, this is an increase of 74 per cent on last week when only 790 auctions were held coming out of the holiday period slowdown.
When compared to last year, volumes are expected to be lower this week than the 1,591 auctions held over the corresponding week last year.
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The number of scheduled auctions across Sydney is set to be lower than results from one year ago (640), with 481 auctions scheduled to take place this week which is over double the volume of auctions held last week (216). 
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The numbers are still low for Sydney however, who have nearly 21 percent more listings now than they had this time last year.
The harbour capital is at least heading in the right direction to shift some of its 2017 unsold stock.
 
 
 
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Across Melbourne, Australia’s other major market, the number of properties scheduled to go to auction this week increased to 575, up from last week’s 292, and only slightly lower than final figures one year ago (556).
 
Across the smaller markets, the number of scheduled auctions has increased over the week in Brisbane, Canberra, Perth and Tasmania, while volumes in Adelaide have decreased over the week. 
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Last week, the combined capital cities returned a final auction clearance rate of 62 per cent across 790 auctions, with both clearance rate and volumes recording lower than last year when 68.8 per cent of the 881 auctions cleared.
The two strongest auction markets in terms of clearance rate last week were Melbourne and Adelaide, with both cities recording a 70.2 per cent rate of clearance. Followed by Canberra (62.2 per cent) and Sydney (57.1 per cent), while Brisbane, Perth and Tasmania all recorded clearance rates at or below 50 per cent.
It is expected that auction volumes will returned to normal levels in the coming weeks and a true reading of auction market conditions can be established.
Outside of the capital city markets, Geelong returned a final clearance rate of 88.9 per cent across 20 auctions. While the Gold Coast recorded the highest volume of auctions with 96 held, however only 46.9 per cent were successful. 
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j.ballantyne1990-6AQqhLzZaK

Point Cook ranks as busiest weekend auction suburb

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A two storey modern $3.35 million Freshwater home on Sydney's northern beaches was the highest reported weekend auction sale.
The cheapest capital city offering was a <a href="https://www.realestate.com.au/property-unit-vic-footscray-127102346" target="_blank">one bedroom Footscray apartment</a>, but it was passed in at $210,000 having come with $230,000 plus hopes.
It was the first weekend for sales since Corelogic advised capital city dwelling prices fell by 0.5% in January, while regional prices grew by 0.2% over the month, the fourth consecutive month they’ve performed better than the capitals.
Regional Australia had plenty of cheap weekend results including <a href="https://www.realestate.com.au/property-house-qld-grantham-127202398" target="_blank">a three bedroom $115,000 house on 1000 sqm at Grantham</a> in Queensland. It last sold at $65,000 in 1989, reflecting two percent annual price growth in the Toowomba district town.
There was a $72,000 sale in regional Victoria when a t<a href="https://www.realestate.com.au/property-house-vic-dunolly-127247862" target="_blank">wo bedroom Dunolly cottage</a> went to auction, listed with $65,000 plus expectations. It last sold at $40,000 in 2000, reflecting three percent annual price growth. 
There was <a href="https://www.realestate.com.au/property-unit-nsw-tooleybuc-127160930" target="_blank">a $196,000 sale at Tooleybuc</a>, with views of the Murray River, of a two bedroom villa. Set on the NSW border in the western Riverina, it last sold at $78,000 in 1995, reflecting four percent annual price growth.
The auction market is slowly starting to bounce back from the seasonal Christmas holiday slowdown, with volumes lower than the same time last year.
CoreLogic was tracking 779 auctions over the week to Saturday, compared with the 881 homes taken to auction this week last year. 
Click here <a href="https://www.propertyobserver.com.au/images/2018/2/5/stock_levels.jpg" target="_blank">to enlarge.</a>
<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/2018/2/5/stock_levels.jpg" alt="">
Melbourne was the only capital city to see an increase in volumes year-on-year with its prices ranging up to $1.41 million when <a href="https://www.realestate.com.au/property-house-vic-highett-127275306" target="_blank">a four bedroom 1940s Highett house</a> was sold, at close to the suburb median house price.
The Middleton Street, Highett house had been listed with $1.34 million to $1.4 million price guidance, having last sold in 1986 at $81,400.
Around 290 Melbourne auctions were held with a preliminary auction clearance rate of 72.8 per cent.
"Towards the end of 2017, Melbourne clearance rates sat around the 65 per cent mark," CoreLogic auction analyst Kevin Brogan noted.
Adelaide’s preliminary clearance rate was 76.7 per cent, the best performing mainland capital city. There were 97 Adelaide auctions, compared to the 144 held over the comparable week last year.
It included <a href="https://www.realestate.com.au/property-townhouse-sa-plympton-127266186" target="_blank">a two bedroom Plympton townhouse that fetched $288,000</a>.
The coastal northern Sydney beaches home sold for $3.35 million was the four bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-freshwater-127296178" target="_blank">39 Albert Street, Freshwater</a> (pictured) that sat on a 380 sqm block.
<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/2018/2/5/fresh2.jpg" alt="">
It last sold at $1.4 million in 2006.
Across Sydney, 207 auctions were held over the week, including 180 on Saturday, up from just 42 on the previous weekend. 
The preliminary clearance rate of 63.1 per cent was down from the 72.3 per cent success rate this time last year across 259 auctions. 
Click here <a href="https://www.propertyobserver.com.au/images/2018/2/5/clearance_rates.jpg" target="_blank">to enlarge.</a>
<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/2018/2/5/clearance_rates.jpg" alt="">
There were 98 Brisbane homes taken to auction with a preliminary clearance rate of 55.4 per cent.
Across the Gold Coast 56 results have been reported so far, with a success rate of 48.2 per cent.
Queensland's top sale came when the former Queensland Governor Leneen Forde sold her Gold Coast home of 25 years for $3.1 million.
<div>There were 14 registered bidders seeking to buy the <a href="https://www.realestate.com.au/property-house-qld-bilinga-127239402" target="_blank">four bedroom beachfront Pacific Parade home </a>which exceeded the previous $2.45 million record price for the strip.</div>
<div>Forde was the Governor of Queensland for five years until 1997, and later chaired the Commission of Inquiry into Abuse of Children in Queensland Institutions.</div>
<div> The 1980s brick home was bought by the Liberal National Party local member for Currumbin, Jann Stuckey.</div>
<div>
In Perth, 30 auctions took place this week, with Perth’s preliminary clearance rate of 66.7 per cent. 
Canberra’s preliminary auction clearance rate of 64.4 per cent this week was lower than the 70.5 per cent recorded last year. 
CoreLogic recorded just three auction results across Tasmania this week with two sales.
One was $375,000 when <a href="https://www.realestate.com.au/property-house-tas-west+launceston-127291270" target="_blank">a three bedroom 1900s West Launceston cottage</a> was sold. It last sold in 2009 at $300,000.
Click here <a href="https://www.propertyobserver.com.au/images/2018/2/5/sub-region_performance.jpg" target="_blank">to enlarge.</a>
<a href="https://www.propertyobserver.com.au/images/2018/2/5/sub-region_performance.jpg" target="_blank"><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/2018/2/5/sub-region_performance.jpg" alt=""></a>
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Regions alight, as Freshwater home kicks of 2018 auction sales

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Weekend auction volumes decreased across the capital cities as the extended Christmas break nears.
There are just a handful of auctions scheduled for next Saturday, December 23.
The penultimate pre-Christmas auction weekend saw a preliminary national auction clearance rate of 64.2 per cent, according to CoreLogic.
The rush of vendors who hopefully thought that buyers needed to buy something before the end of the year and were willing to pay ‘anything’ were increasingly mistaken, as the market changed gears from the intensity of early 2017.
Sydney especially looks set to finish the year with an auction clearance rate in the 50s, and even dipping into the high 40s in some regions.
The number of homes taken to auction nationally fell to 2,865 auctions, down on the prior weekend's 3,371 auctions.
The nation's top auction offering was in Brighton with a four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-brighton-127014594" target="_blank" rel="noopener noreferrer">12 Cole Street </a>but which was passed in on a $5.5 million vendor bid.
It had been listed with $5.95 million to $6.44 million hopes, but now comes listed at $5.95 million.
It was a contemporary Steve Domoney Architecture-designed home where the four-bedrooms hugged a Zen-inspired courtyard garden and pool, also accessed from living and dining zones. It came with a two-room Gaggenau kitchen, and a four-room parents’ wing. 
Melbourne's highest sale was $3,825,000 in Carlton.
The four bedroom, one bathroom terrace at <a href="https://www.realestate.com.au/property-house-vic-carlton-127015838" target="_blank" rel="noopener noreferrer">173 Drummond Street </a>had been listed with $3 million to $3.3 million hopes. It last sold in 1983 at $165,000, and before that slightly higher in 1982 at $179,000 before the full effect of Australia's second last recession was felt.
Melbourne, Australia’s largest auction market, finished the year off with an auction clearance rate of 67.3 per cent across its weekend 1,628 auctions in a last minute rush to auction.
This time last year, 1,288 properties were taken to auction across Melbourne and a clearance rate of 73.9 per cent was recorded, CoreLogic auction analyst Kevin Brogan noted.
Mosman had Sydney's highest weekend auction outcome when 8 Cobbittee Street fetched $3.57 million pre-auction.
<a href="https://www.realestate.com.au/sold/property-house-nsw-mosman-127005662" target="_blank" rel="noopener noreferrer">It was offered </a>for the first time in 93 years. 
Sydney’s preliminary clearance rate was 60.8 per cent across 690 auctions. Over the same week one year ago, 878 auctions were held across Sydney and a clearance rate of 71.4 per cent was recorded.
Sydney's pre-auction sales with undisclosed prices included the McMahons Point home (pictured) of the retired litigation lawyer Peter Keel, a former Clayton Utz partner, and his wife Angela.
They had listed their McMahons Point home for December 16 Stone auction.
It was 1999 when the couple commissioned Jon Johannsen to design the modernism <a href="https://www.realestate.com.au/property-house-nsw-mcmahons+point-126782410" target="_blank">double sandstone residence</a> with five bedrooms. It comes with a pool on the double block.
They bought an 1880s-era terrace in the early 1990s for $420,000, and then added its twin in the late 1990s for $620,000.
Slacks Creek, south of Brisbane, had the nation's cheapest weekend house sale.
<a href="https://www.realestate.com.au/property-house-qld-slacks+creek-126022630" target="_blank" rel="noopener noreferrer">The two bedroom 44 Atkinson Street home</a> on 600 sqm fetched $285,000 through Ray White.
It had sold at $267,000 in 2010.
There were 196 Brisbane weekend auctions with a clearance rate of 54.8 per cent, compared to a year ago when there were 234 auctions with a success rate of 42.6 per cent.
Adelaide finished the auction year with the strongest weekend clearance rate of the capital cities, at 70.1 per cent, with 107 reported results across a total of 152 scheduled auctions, increasing on last weekend’s 65.2 per cent and the 58.4 per cent one year ago.
Adelaide's results included a three bedroom at <a href="https://www.realestate.com.au/property-house-sa-lockleys-127058442" target="_blank" rel="noopener noreferrer">3 Veronica Crescent, Lockleys</a> sold at $581,000, exceeding what it had been tipped by Belle Property to sell between $490,000 and $530,000.
But a three bedroom at <a href="https://www.realestate.com.au/sold/property-house-sa-south+plympton-127081426" target="_blank" rel="noopener noreferrer">68 Wheaton Street, South Plympton</a> sold prior for $586,000, fell short of its price guidance which was $599,000 to $649,000.
 
<div> </div>
 
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Fewer bright auction results signals tougher sellers' market ahead in 2018

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CoreLogic is tracking 2,666 scheduled auctions across the combined capital cities over what is the last week for auction reporting for 2017.
It sits lower than the 2,735 held over the corresponding week last year. 
This is lower than last week’s final results which saw 3,371 auctions held.
Week-on-week activity across Melbourne and Sydney is set to fall as the end of year fast approaches, with a bumper 1,514 Melbourne homes scheduled to go to auction this weekend, down from the 1,833 auctions held last weekend.
Last week was the second busiest week for auctions this year across Melbourne.
In Sydney, there are 664 scheduled auctions this week, decreasing from the 1,007 auctions held last week.
All of the busiest suburbs for auctions this week are in Victoria, topping the list with 32 residential homes set to go under the hammer is Reservoir, followed by Craigieburn (27), Epping (23), and Frankston (23).
The Reservoir offerings include <a href="https://www.realestate.com.au/property-house-vic-reservoir-127037502" target="_blank">21 Locksley Avenue</a> (above), with $650,000 to $700,000 price guidance through McGrath.
There are fewer than a handful of auctions on Saturday December 23.
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Reservoir sees out the 2017 auction year on top

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The Hoyts boss Damian Keogh and wife, Maree, pocketed $3.9 million when their longtime Sutherland Shire family home went to auction last weekend.
They are downsizing to a four bedroom oceanfront apartment at Cronulla given all four of their children have now left school.
<a href="https://www.realestate.com.au/sold/property-house-nsw-lilli+pilli-126881274" target="_blank">The Lilli Pilli home</a>, purchased in 1997 for $800,000, had an extensive rebuild in 2002 making it five bedrooms plus study.
Listing agent Greg Gilbert had expectations in the high $3 millions. Bidding opened at $3 million with three parties competing. It was announced on the market at $3.7 million.
The home has views, palatial proportions, and functional family living, along with level lawns, and a basket ball pad. There's an in-ground pool and a cabana alfresco area on its double-width 1486 square metre block.
It was 2016 when they paid $2.85 million for the <a href="https://www.realestate.com.au/property-apartment-nsw-cronulla-121147990" target="_blank">beachfront Tiana apartment</a>.
Keogh retains a Quay West apartment in the Sydney CBD which he uses mid week while at work running the Hoyts Group.
Dubbed one of the best Australia's basketballers of all time, Keogh played over 400 games in the NBL and featured in three Olympic Games.
This article first appeared in The Sunday Telegraph. 
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Hoyts boss Damian Keogh secures Sutherland Shire sale at weekend auction

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Melbourne regained the mantle of being the strongest auction market, but the Carlton AFL legend Anthony Koutoufides was among those who didn't score their sale goal.
His former Brunswick West abode - which has been an $850 a week rental for several years - now has a $1,765,000 asking price.
Sandhaven (above and below), <a href="https://www.realestate.com.au/property-house-vic-brunswick+west-126841782" target="_blank">the four-bedroom Coronation Street</a> had pre-auction price guidance of $1.55 million to $1.65 million.
The California bungalow was where he and wife Susie lived for 15 years after paying $275,000 in 1998. The Herald Sun reported it passed in on a $1.6 million vendor bid.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/27/Bruns2.jpg" alt="">
An 1865 Italianate terrace in Carlton topped Melbourne's sales at $5.46 million. The four bedroom, four bathroom Drummond Street terrace had been marketed with a <a href="https://www.realestate.com.au/property-house-vic-carlton-126846710" target="_blank">pre-declared $4.4 million reserve price</a>. It last traded in 2003 at $1,125,000.
Across Melbourne, preliminary results saw 69 per cent of the 1,456 reported auctions sold on the weekend, making it the third week in a row where the clearance rate has been below 70 per cent.
There were 1,727 properties taken to auction across the city, compared to 1,732 last week when the final clearance rate slipped to 66.9 per cent, the lowest clearance rate since July 2016.
Over the same week last year, 1,616 auctions were held and a clearance rate of 76.1 per cent was recorded. Looking at the sub-regions of Melbourne, the West recorded the highest clearance rate (76.4 per cent across 212 results).
Melbourne's cheapest sale was a one bedroom Essendon North unit (below) that fetched $238,000, <a href="https://www.realestate.com.au/sold/property-unit-vic-essendon+north-126884526" target="_blank">some $2000 less than its pre-indicated $240,000 reserve</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/27/Ess.jpg" alt="">
Domain report there will be more than 1000 offerings across Melbourne next weekend.
Auction volumes across the nation increased again with some 3,409 homes taken to auction across the combined capital cities across the week.
It was the third busiest week for auctions so far this year, with effectively just three Saturdays until the Christmas break.
They returned a preliminary auction clearance rate of 66.9 per cent, bettering the final results of last week when 60.9 per cent of the 3,390 auctions had a successful result.
It was the lowest national clearance rate since late 2015.
Once final results are collected, the combined capital city clearance rate will be in the mid to low 60 per cent range for the sixth week in a row, according to CoreLogic auction analyst Kevin Brogan.
Over the same week last year, a total of 3,398 homes were taken to auction across Australia with a 73 percent clearance rate.
Brisbane had the dearest and cheapest weekend auction results.
There was a $5.65 million Graceville riverfront sale sold by the executors of World War II US Air Force officer turned successful Brisbane businessman, Burton “Pete” Peterson who died at the age of 97 this year.
<a href="https://www.realestate.com.au/property-house-qld-graceville-126760290" target="_blank">It was a 6500 sqm estate</a> last traded seven decades ago. Agent Jack Dixon advertised the 1959 three level home has situated on a flood-free allotment "presenting a unique riverfront acreage lifestyle with multiple development options." 
The preliminary clearance rate in Brisbane rose to 57.6 per cent across 152 auctions this week, from 46.7 per cent across 217 auctions last week, while this time last year 191 auctions were held and a clearance rate of 43.8 per cent was recorded.
A Russell Island two bedroom cottage, set between Brisbane and Southport, was the nation's cheapest result.
<a href="https://www.propertyobserver.com.au/39%20Little%20Cove%20Rd,%20Russell%20Island" target="_blank">The cottage</a> fetched $119,000. It last sold 10 years ago at $132,000. Russell Island's two bedroom median is $190,000 according to CoreLogic.
Sydney was host to 1,200 auctions this week with a 66.2 percent preliminary clearance rate, after last week saw the lowest clearance rate since late 2015.
This time last year, 77.1 per cent of the 1,262 homes taken to auction were sold. The Sutherland Shire's 77.5 per cent was the top weekend performer, followed by the Eastern Suburbs (76.2 per cent), and Inner West (75.0 per cent) regions.
Sydney just missed out of having the nation's top sale when $5.6 million was paid in the Shire. <a href="https://www.realestate.com.au/sold/property-house-nsw-caringbah+south-126816298" target="_blank">The five bedroom Grandview Parade, Caringbah South</a> home was a deep waterfront on 1000 sq m.
It was marketed by Abode agent Suzzane Hibberd as "one of the few properties on Burraneer Bay with its own boat ramp."
It last sold in 1991 at $1.1 million. Domain reported competition from five registered bidders. The house was on the market at $5.48 million after bidding opened at $5 million.
Adelaide's cheapest sale was $297,000. <a href="https://www.realestate.com.au/property-house-sa-ottoway-126819486" target="_blank">The three bedroom brick Ottoway home</a> had been listed with $275,000 price guidance.
In Adelaide, a 67.0 per cent preliminary result was recorded this week across 153 auctions. Last week, 151 Adelaide auctions returned a clearance rate of 64.5 per cent for the city, while at the same time last year, 144 homes were taken to auction, with 63.1 per cent recording a successful result.
Perth’s clearance rate of 38.9 per cent across 18 auction results is down from last week, when 85 auctions were held and a clearance rate of 39.7 per cent was recorded. Over the same week last year, the clearance rate was a lower 27.3 per cent, and 67 auctions were held.
Sales included a <a href="https://www.realestate.com.au/sold/property-house-wa-cloverdale-126773506" target="_blank">four bedroom 1960s brick home at Cloverdale</a> at $475,000. <a href="https://www.realestate.com.au/sold/property-house-wa-cloverdale-126773506" target="_blank"> </a>
Across Canberra, 128 homes were taken to auction this week. Preliminary results show a clearance rate of 66.1 per cent, up from 62.8 per cent the previous week. 
There was a $3.16 million sale at Red Hill. <a href="https://www.realestate.com.au/property-house-act-red+hill-126849794" target="_blank">The five bedroom Mugga Way home</a> on Canberra's golden mile traded at $1,365,000 in 2009. 
 
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Anthony Koutoufides seeks more after his failed Melbourne weekend auction

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The inner west Rozelle, Sydney weatherboard cottage - with the identifying bright yellow front door of former Wiggle Sam Moran - was sold at weekend auction.
<a href="https://www.realestate.com.au/property-house-nsw-rozelle-126290238" target="_blank">The cottage </a>secured $1,835,000 when offered by Moran and his American-born wife Lynn Stuckey who paid $955,000 in 2011.
Moran, who departed the Wiggles in 2011, now fronts the preschool show, Play it with Sam.
While three buyers had registered, there were only two active competitors.
It was declared on the market at $1,835,000.
The investor buyer told the Sunday Telegraph he hopes to get $950 to $1000 a week in rent.
The national weekend auction clearance rate sat at around 70.7 percent, according to CoreLogic, which noted it had been was the busiest since the end of May.
Auction volumes have increased to a total of 2,759 homes taken to auction.
Some 2,226 initial results reported to CoreLogic, the weekend sales returned a preliminary clearance rate of 70.7 per cent, up from last week’s final clearance rate of 66.7 per cent across 2,510 auctions.
Melbourne was host to the most auctions in a bumper pre-grand final weekend offering.
With 1,359 auctions scheduled, there was a preliminary clearance rate of 73.9 per cent from the 1,140 reported results.
Last weekend Melbourne had 1,265 auctions with a final clearance rate of 71.4 percent. 
At the same time last year, Melbourne’s clearance rate was 77.2 per cent across 1,103 auctions.
The North West region recorded the strongest clearance rate of 85.4 per cent across 101 auctions.
Melbourne's top sale was a <a href="https://www.propertyobserver.com.au/50&amp;52%20Boorool%20Rd%20KEW%20EAST" target="_blank">townhouse development site</a> at Kew that fetched $4.36 million.
Permits had been approved for the four townhouses on the 1430 sqm Boorool Road offering which sold at $16 million in 2015.
In Toorak, <a href="https://www.realestate.com.au/sold/property-house-vic-toorak-126261594" target="_blank">$3.72 million was paid for 112 St Georges Road</a>, one of six residences built on the site of former Prime Minister Harold Holt’s home.
The Herald Sun reported auction was slow going at first, but the buyer was the fourth and final bidder.
The four-bedroom house shares a communal pool, jetty on the Yarra River and a large garden with the five neighbours.
A four bedroom penthouse St Kilda apartment that sold for $3.61 million was Melbourne’s most expensive weekend apartment residential acquisition.
Located at <a href="https://www.realestate.com.au/property-apartment-vic-st+kilda-126255338" target="_blank">18/21 Marine Parade</a>, the property with bay views comes with an alfresco terrace for entertainment.
It had sold at $1.56 million in 2001.
A one bedroom Burnswick unit sold for $250,000 was Melbourne’s cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-unit-vic-brunswick-126134498" target="_blank">14/6 Garnet Street</a>, the property last sold in 1983 for $21,000.
Sydney’s preliminary auction clearance rate was 71.5 per cent across 1,014 auctions this week, after last week saw the final clearance rate slip below 65 per cent for the first time this year to 64.2 per cent.
"The current clearance rate across Sydney is significantly lower than this time last year when 80.4 per cent of the 946 auctions held were successful," Kevin Brogan, CoreLogic's auction analyst said.
Strong results however were recorded across the Northern Beaches (84.7 per cent), Central Coast (84.6 per cent) and Ryde (84.6 per cent).
A two bedroom Bankstown unit sold for $461,000 was Sydney’s cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-unit-nsw-bankstown-126280498" target="_blank">10/48 Reynolds Avenue</a>, the unrenovated property last sold in 1996 for $155,000.
Sydney's top sale was a Balgowlah Heights house that fetched $4.1 million pre-auction.
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-balgowlah+heights-126266314" target="_blank">3 Tabalum Road</a>, the four bedroom house on 568 sqm came with views over Middle Harbour.
It last sold in 2008 for $2.1 million.
"Sydney’s auction market survived its September super Saturday, recording a solid clearance rate for sellers despite the usual flood of pre-holiday listings," Domain economist Dr Andrew Wilson noted. 
"The number of properties reported sold before auction continues to climb with motivated sellers keen to secure a sale from a dwindling pool of buyers," he added.
Some 168 Sydney homes were reported sold before auction at the weekend which was well ahead of the 148 reported the previous weekend and significantly higher than the 109 reported mid-August.  
Across Brisbane the preliminary clearance rate was 51.5 per cent this weekend after 99 auctions were reported to CoreLogic.
A five bedroom Ascot house sold for $2.4 million making it Brisbane’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-qld-ascot-126284338" target="_blank">111 Alexandra Road</a>, the 1920s home last sold in 2003 for $1.9 million.
The offering with a tennis court was offered through Vanessa Harte of Ray White who told The Courier Mail five bidders registered for the auction of the 1022 sqm property.
There were 122 Adelaide auctions compared to 100 last week and 131 at the same time last year.
The cities preliminary clearance rate this week was 60.6 per cent, down from 68.2 per cent last week and lower than one year ago (78.2 per cent).
A four bedroom Bedford Park house sold for $420,000 was Adelaide’s cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-house-sa-bedford+park-126342402" target="_blank">16 Franklin Avenue</a>, the three bedroom, one bathroom home on 1000 sam was offered with the potential to create an extra one or two additional bedrooms.
In Canberra, 69.2 per cent of the 78 reported auction results for Canberra were sold this week, down from 71.9 per cent last week and higher than last year (68.4 per cent).
A two bedroom Holt house sold for $290,000 making it Canberra’s cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-house-act-holt-126317694" target="_blank">19 Goddard Crescent</a>, the property was in original condition but featured new carpet in the lounge and bedrooms.
Perth’s clearance rate of 36 per cent across 25 auction results is similar to last week, when 33 auctions were held and a clearance rate of 35.7 per cent was recorded.
Over the same week last year, the Perth clearance rate was a lower 29.5 per cent, and 50 auctions were held.
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Former Wiggle Sam Moran sells Rozelle cottage

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Melbourne reported a strong clearance rate of 80.1 percent over the Queens Birthday long weekend, sharply reversing the weakening trend of the past month according to Domain's Andrew Wilson.
He said this figure was well above the year-low 75.9 percent recorded the previous weekend and well ahead of the 65.8 percent recorded over the same holiday weekend last year.
"The local market hosted typically low numbers of holiday listings at the weekend with just 267 auctions scheduled, which was well below the previous weekend’s 1047 auctions but similar to the 265 conducted over the Queen’s Birthday holiday weekend last year," he said.
"The Sydney home auction market tracked back sharply over the Queen’s Birthday holiday weekend, continuing the declining trend of the past month
"Though it was a predictably slow weekend, with 407 homes on offer, it was still the most auctions ever held over a Queen’s Birthday public holiday. 
"Sydney recorded a clearance rate of 67.1 percent on Saturday, which was well below the previous weekend’s 74.3 percent and also lower than the 70.4 percent recorded over the same holiday weekend last year, when 284 auctions were held.
"Saturday’s clearance rate was the fourth consecutive decline in weekend results and the lowest rate recorded by the local market since December 2015."
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jonathanchancellor-7SQnKwU6yx

Melbourne auctions strong for long weekend, Sydney retreats

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A residential Potts Point car parking space, in inner Sydney, fetched $222,000 at weekend auction, which the Di Jones selling agent declared “top dollar”.
Bidding opened at $120,000 for <a href="https://www.domain.com.au/101-45-53-macleay-street-potts-point-nsw-2011-2013605721" target="_blank">the 16 square metre undercover space</a> (above) in The Chimes apartment block.
There were two of the five registered parties still bidding from $180,000 onwards.
Another standard car space had sold nearby earlier this year at $190,000 with a larger 26 sq m car space fetching $264,000 two years ago.
The successful bidder has resided in Potts Point for two decades and intended the car spot for his personal use, The Sunday Telegraph reported.
The 10-storey, 80 unit Macleay Street strata studio block was built in the mid 1960s when the standard EJ Holden cost the equivalent of $2000.
The car space was among the first week of winter offerings, but not the cheapest. 
A three bedroom house at Smithfield - offered as a renovator's dream - sold for $142,500 as Adelaide’s and the nation's cheapest weekend auction sale.
Built in 1980 it last sold in 1995 for $56,000.
Featuring three bedrooms, the property at <a href="https://www.realestate.com.au/property-house-sa-smithfield-125500850" target="_blank">19 Adaluna Crescent</a> had $110,000 price guidance.
<img src="https://www.urban.com.au/images/2017/06/04/Screen%20Shot%202017-06-05%20at%208.29.18%20AM.png" alt="">
The onset of winter saw auction volumes fall across the country.
Some 2,545 homes were taken to auction, compared to 2,885 the previous weekend, according to CoreLogic’s latest report.
The property data firm says that the preliminary clearance rate across the combined capital cities was higher (73.9 per cent) compared with last week’s finalised result, which was the third lowest clearance rate so far this year (71.3 per cent).
With auction clearance rates typically revising lower as more results flow through, the final clearance rate is likely to be lower than what was recorded last week, CoreLogic auction analyst Kevin Brogan said.
Every city had a higher clearance rate than the same weekend last June.
At the same time last year, both the combined capital city clearance rate and the number of auctions were lower, with 2,008 auctions held and 68.2 per cent reported as successful.
The two largest auction markets, Melbourne and Sydney, saw their preliminary clearance rates rise compared with last weeks finalised results, with Sydney at 77.5 per cent and Melbourne at 75.4 per cent.
Across the smaller capital city markets, week-on-week results show mixed results with clearance rates falling in Brisbane and Canberra.
Across Melbourne, 1,181 homes were taken to auction and preliminary results show a clearance rate of 75.4 per cent, increasing from last weekend when the final clearance rate fell to 74.2 per cent across 1,366 auctions, the lowest clearance rate for the city so far this year.
At the same time last year, Melbourne’s clearance rate was 71.1 per cent, with 970 auctions held across the city.
Looking at Melbourne’s sub-regions, the West region was the best performer in terms of clearance rates, with a 83.5 per cent success rate.
The top weekend sale was a 1970s Hawthorn house for $5.51 million.
Located at <a href="https://www.realestate.com.au/property-house-vic-hawthorn-125400526">17 Fairview Street</a>, (below) the 760 sqm property marketed as suitable to be redeveloped was snapped up by a Chinese buyer who will demolish the five bedroom brick home, Fairfax Media reported. 
<img src="https://www.urban.com.au/images/2017/06/04/Screen%20Shot%202017-06-05%20at%208.30.27%20AM.png" alt="">
With views overlooking Fairview Park, Yarra River and CBD, it was last sold in 2007 for $2.8 million.
There was a record price paid in Fitzroy when a couple from Boroondara with three young children secured Fitzroy House at <a href="https://www.realestate.com.au/sold/property-house-vic-fitzroy-125390094">43 Gore Street </a>with a $4.9 million bid.
It at almost $900,000 more than the suburb’s previous record of $4.011 million set by 17 Bell Street last year.
It was sold by Madman Entertainment co-founder Paul Wiegard and his wife Sarah, who spent about $2 million renovating the three-level 1854 house, which cost $2.1 million in 2008.
It was built for surgeon Thomas Embling.
Sydney’s preliminary auction clearance rate increased to 77.5 per cent from 72.7 per cent last week, while auction volumes were lower this week with 1,000 homes taken to auction, compared to 1,101 last week.
At the same time last year, both the clearance rate and auction volumes were lower with 692 homes taken to auction and a clearance rate of 72.9 per cent.
Sydney's top sale was an art deco Russell Lea house sold for $5.15 million with six bidders registering at the auction.
Located at <a href="https://www.realestate.com.au/property-house-nsw-russell+lea-125413062" target="_blank">26 Clements Street</a>, the P&amp;O style residence sits on a double block that overlooks Iron Cove Bay.
<img src="https://www.urban.com.au/images/2017/06/04/Screen%20Shot%202017-06-05%20at%208.32.12%20AM.png" alt="">
Designed in 1939 by Guy Crick, it was marketed as having potential to renovate or develop through Warwick Williams Real Estate agents Adrian Sereni and Warwick Williams.
There were 146 auctions held across Brisbane this week, down from 162 last week, but higher than one year ago (130).
Preliminary results show that 51 per cent of Brisbane auctions were successful this week, up from 52.2 per cent last week, while one year ago 48.2 per cent of auctions were sold.
A two bedroom timber Woodridge house sold for $241,000 making it Brisbane’s most cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-qld-woodridge-125467238" target="_blank">72 North Road</a> (below), the 875 sqm parcel holding last sold in 1986 for $39,000.
<img src="https://www.urban.com.au/images/2017/06/04/Screen%20Shot%202017-06-05%20at%208.33.32%20AM.png" alt="">
A total of 107 auctions were held in Adelaide this weekend, down from 112 last week, and up from 98 last year.
Preliminary Adelaide results for the weekend show 63.4 per cent sold, up from 57.6 per cent last week. 
An Aldinga Beach beachfront reserve house sold for $1.45 million.
Located at <a href="https://www.realestate.com.au/property-house-sa-aldinga+beach-125424530" target="_blank">210 Esplanade</a>, the 1800 sqm property is just steps away from the beach, 50km from Adelaide CBD, and a short drive to McLaren Vale.
<img src="https://www.urban.com.au/images/2017/06/04/Screen%20Shot%202017-06-05%20at%208.34.32%20AM.png" alt="">
Modernised since built in 1965, it was last sold in 2009 for $1.175 million and in 2002 for $680,000.
Across Perth, preliminary results show 58.3 per cent of the 12 reported auctions were successful, while one week ago 50 per cent of Perth auctions were successful and one year ago just 13 per cent were sold.
There were 78 auctions held in Canberra this week and the preliminary clearance rate was 71.9 per cent, down from 73.8 per cent last week and similar to one year ago (71.1 per cent).
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