Fewer properties but consistent clearance rates point to a busy weekend
There’s plenty of activity for motivated buyers on the Australian east coast
1 min
The number of auctions scheduled across Australia has fallen week-on-week, new figures show.
Data from CoreLogic shows that the number of properties across the combined capitals is down -7.7 percent for the first weekend in August, with a total of 1,821 expected to go under the hammer. However, figures are still a significant improvement on last year, up 23.8 percent on the same week in 2022 when 1,471 auctions took place and the clearance rate was just 56.6 percent.
Melbourne has experienced the biggest fall, with a -9.0 percent decrease on last week. However, the eastern capital will still see the most properties go to market, with 792 homes scheduled compared with 748 homes in Sydney. The difference is that Sydney figures have remained steady, with just one less home up for sale this week compared with the previous week. Auction figures in both cities are considerably higher than this time last year with data showing an increase of more than 25 percent.
In the smaller capitals, it’s a mixed bag. Brisbane is experiencing its quietest week since Easter with 86 homes scheduled, a significant drop from the previous week when 173 homes went to auction while Adelaide has 105 homes set to go to market (nine less than last week). However, the nation’s capital is set for a busy weekend, with 81 homes scheduled in Canberra – the highest number of homes in nine weeks.
Figures in Perth are typically lower, with just seven auctions scheduled. It’s a similar story in tightly held Tasmania, with just two properties going to market this weekend.
Clearance rates from last week continue to show a steady winter auction market, the 64.9 percent of properties put to market resulting in a sale. This time last year, the clearance rate was just 54 percent.
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Continue reading “Victoria’s New Auction Rules Will Force Reserve Prices Into the Open”
More than 10,000 homes, an expansive central park and a mix of hospitality, retail and wellness facilities will form Azizi Developments’ first master-planned community in the emirate.
2 min
Sharjah is set to receive one of its largest new residential communities, with Azizi Developments unveiling plans for a US$8.1 billion master-planned precinct containing more than 10,000 homes.
Named Azizi Florence, the freehold development will comprise 1,130 villas, more than 6,000 townhouses and 3,500 apartments. Three-bedroom townhouses will start from US$515,000, with an indicative rate of US$231 per square foot of saleable space.
The project marks the Dubai-based developer’s first move into Sharjah, expanding a portfolio that includes the planned Burj Azizi skyscraper and the Azizi Venice community in Dubai.
A park at the heart of the community
Rather than treating landscaping as an afterthought, Azizi Florence will be organised around a 1.7 million sq ft central park.
The wider precinct is planned as a self-contained neighbourhood combining homes with retail, hospitality, education, leisure and wellness facilities.
Six residential clusters will sit within the development, each with its own park, clubhouse, community centre and landscaped gardens. The approach reflects a broader shift across large Middle Eastern developments, where greenery, recreation and everyday convenience are increasingly central to the residential proposition.
The scale of Azizi Florence suggests it is intended to function as a neighbourhood rather than a collection of housing estates. Its mix of housing types should also give the project broader appeal, accommodating apartment buyers alongside families seeking townhouses or standalone villas.
Azizi expands beyond Dubai
Azizi Developments has delivered more than 45,000 homes to buyers from over 100 countries and says it has approximately 150,000 units under construction.
Much of its growth has been concentrated in Dubai, where its portfolio extends across Palm Jumeirah, Mohammed Bin Rashid City, Dubai South, Sheikh Zayed Road and Downtown Jebel Ali.
Its most prominent current project is Burj Azizi, which is intended to become the world’s second-tallest building. Azizi Florence represents a different type of undertaking: a low-rise, family-oriented community built around public space and daily amenity.
For company founder and chairman Mirwais Azizi, the Sharjah project also carries a personal connection. The emirate was his first home in the UAE more than three decades ago, adding a symbolic dimension to the developer’s expansion.
Sharjah’s residential ambitions grow
Although Dubai and Abu Dhabi have traditionally captured much of the international attention directed at the UAE property market, Sharjah has been steadily broadening its residential offering.
Large freehold communities such as Azizi Florence have the potential to attract both local families and international purchasers looking for comparatively accessible entry points into the Emirates’ property market.
At a starting price of US$515,000, the project’s three-bedroom townhouses will sit well below the cost of equivalent family homes in many of Dubai’s more established luxury communities.
The ultimate appeal, however, will depend on execution. At this scale, the quality of the public realm, connections between residential clusters and delivery of the promised supporting infrastructure will be as important as the homes themselves.
If those elements come together, Azizi Florence could help establish a new benchmark for large-scale residential development in Sharjah—and give buyers another option beyond the UAE’s better-known property markets.
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