A ‘cracking’ start to 2024 with strong weekend property auction results
It was the second-biggest start since 2008 with 1,671 homes going under the hammer
It was the second-biggest start since 2008 with 1,671 homes going under the hammer
More than seven in 10 homes that went to auction on Saturday sold under the hammer, delivering a preliminary national clearance rate of 73.9 percent across the combined capital cities, according to CoreLogic data. The strongest result was seen in Canberra where 80 percent of the 75 homes auctioned were sold. Adelaide recorded a 77.6 percent clearance rate, Sydney 76.3 percent, Melbourne 71.9 percent and Brisbane 68.5 percent.
Impressive clearance rates were also recorded in regional areas. Newcastle and Lake Macquarie hosted 37 auctions with a 77.8 percent clearance. The Gold Coast saw 126 homes go to auction with a clearance of 65.3 percent. For perspective, a clearance rate of 60 percent reflects normal market conditions, with anything above this indicating strong selling conditions and high buyer demand.
Australia’s biggest agency network, Ray White, also reported a 74 percent clearance rate for the 387 auctions it conducted on Saturday. The company said the market was roaring back in 2024, with the number of buyers attending open inspections up by 24 percent since 1 January compared to the same period last year.
CoreLogic said the first major week of auctions had set a “cracking pace” for the market in terms of volume and sales success. Saturday was the second-biggest start to a new year’s auction season since CoreLogic began keeping records in 2008. A total of 1,671 homes went to auction across the capital cities. CoreLogic economist Kaytlin Ezzy said the clearance rates in Sydney and Melbourne represented “a sizeable step change” compared to the end of last year.
“Overall, it looks like auction markets are starting the year on a strong footing,” Ms Ezzy said. “Potentially, the news of low inflation and the possibility of early rate cuts is already boosting sentiment. The next few weeks should provide further guidance on whether this strong result is simply some early-year exuberance or a trend that can persist.”
Last week the Australian Bureau of Statistics revealed inflation fell to 4.1 percent in December, lower than the expected forecast of 4.5 percent, representing a two-year low. Prior to the figures being released, most economists were predicting that interest rates could start to fall by September this year.
The first interest rate decision by the Reserve Bank will be announced at 2.30pm today. Following on from changes signalled last year in the way the rate decision is announced, Governor Michele Bullock will conduct a press conference to explain the board’s decision and answer questions from journalists at 3.30pm.
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A two-level penthouse atop Burleigh Heads’ award-winning Norfolk development has hit the market for the first time, offering sweeping ocean views and a private rooftop pool.
One of Burleigh Heads’ most architecturally significant penthouses has hit the market for the first time since its completion five years ago.
The listing provides the first real look inside the two-level penthouse crowning Norfolk, Forme’s award-winning Goodwin Terrace development which was completed in 2021.
The penthouse sold off the plan for $5.35 million around 18 months before construction was completed and has remained tightly held ever since, meaning its resale offers the first insight inside one of Burleigh’s most architecturally impressive apartment buildings.
The four-bedroom residence spans approximately 461 sqm, comprising 276 sqm of internal living and a further 185 sqm of outdoor space across its two levels.
Its position on Goodwin Terrace gives the penthouse one of the Gold Coast’s comparatively rare true north-to-water aspects, with views stretching from Burleigh Headland along the coastline towards the towers of Surfers Paradise. Floor-to-ceiling glazing has been used extensively throughout the residence, framing the ocean outlook from almost every principal living space.
Forme, led by Managing Director David Calvisi, acquired the prime 1,012 sqm site, formerly home to The Fish House restaurant, before developing Norfolk as the first new multi-residential project delivered on Goodwin Terrace in around three decades.
The strength of the location was clear. The more unusual proposition was the building itself.

Forme appointed Koichi Takada Architects to design the 10-level development, marking the practice’s first Gold Coast building. Rather than treating Norfolk’s beachfront setting as a backdrop, Takada used the Norfolk Island pines along the foreshore as the basis for the architecture.
Curved balcony slabs and horizontal battens create the building’s distinctive layered exterior. Sliding timber screens can be repositioned for privacy, shade and protection from the coastal conditions, continuously changing the appearance of the façade.

Takada has compared the concept to the structure of a pinecone, whose overlapping layers open and close according to environmental conditions. In an earlier account of the project, the architect said the objective was to celebrate the site and create a stronger connection between the residences and the elements outside.
The response helped turn Norfolk into an architectural marker for Burleigh’s transformation.
Norfolk comprises 12 half-floor apartments, two dual-level penthouses and one two-level beach house. MIM Design created the interiors, Hutchinson Builders undertook construction and Plus Architecture supplied documentation services for the builder.
Inside Residence 901, MIM Design’s restrained palette brings together timber, natural stone and tailored joinery without competing with the outlook. Travertine surfaces have subsequently received paint-protection film, while the home is being offered with a custom furniture package.
A private lift opens directly into the main living level. Living, dining and media spaces are arranged along the view, accompanied by a concealed bar and a broad north-eastern terrace.
The kitchen has an oversized stone island, European appliances and bespoke cabinetry, supported by a butler’s pantry and separate scullery. An integrated RTI system controls lighting, climate, fans, security, entertainment and audio using in-home touchscreens or a smartphone application.
The principal suite occupies a private wing with ocean views, a dressing room and ensuite. Two additional bedrooms have their own ensuites, while a fourth bedroom can operate as an executive study. A concealed Murphy bed allows that room to accommodate guests when required.
The rooftop is what moves the residence beyond even a generously proportioned beachfront apartment.
Reserved exclusively for the penthouse, it contains a heated lap pool, landscaped gardens, several entertaining areas and an alfresco kitchen with a built-in barbecue. An integrated outdoor cinema allows the rooftop to function as an open-air screening room above the Pacific.

Four side-by-side secure car spaces, dedicated electric-vehicle charging and private storage address practical constraints often encountered by prestige-apartment buyers. The parking allocation is particularly relevant for owners moving from a large house or maintaining a car collection.
Norfolk’s wider amenities include a beach-club-style residents’ area, swimming pool, gymnasium and sauna. Burleigh Beach is directly opposite, while James Street, Burleigh Head National Park and restaurants including Rick Shores and The Tropic are within walking distance.
The building’s reputation has also moved well beyond its beachfront address. Norfolk received both jury and popular-choice honours in the mid-rise multi-unit housing category at the 2022 Architizer A+Awards. It won a Queensland Australian Institute of Architects award for multiple housing and was named the 2022 Medium-Density Residential Development of the Year by The Urban Developer. Further recognition came from the Master Builders awards and Architecture MasterPrize.
Calvisi later said the aim with Norfolk was to produce something the Gold Coast had not previously seen.
The penthouse is being marketed through expressions of interest by Dean Pegoraro of Whitefox Gold Coast.
The megamansion was built for Tony Pritzker, heir to the Hyatt Hotel fortune and brother of Illinois Gov. JB Pritzker.
The grand harbourside residence combines sweeping Sydney Heads views, resort-style entertaining and refined designer finishes with a reported $36 million price guide.