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June 29, 2026 \u2014 11:30am<\/p>\n
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Remove items from your saved list<\/a> to add more.<\/p>\n AAA<\/p>\n A first home buyer won a stylish two-bedroom Surry Hills terrace at auction this weekend, paying $103,000 more than its vendors paid one year ago.<\/p>\n The two-storey home with a sleek, contemporary renovation at 53 Marshall Street<\/a> sold under the hammer for $2.31 million, while in June 2025 it traded for $2,207,000.<\/p>\n The property was one of 812 scheduled auctions in Sydney last week. By Saturday evening, Domain Group recorded a preliminary auction clearance rate of 49 per cent from 445 reported results, while 178 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.<\/p>\n This compares to a preliminary result last week of 47 per cent \u2013 broadly comparable to lockdown-era lows<\/a>.<\/p>\n Five parties from around the Sydney area, including one investor from Bellevue Hill, registered for the Surry Hills auction.<\/p>\n Related Article Bidding opened at $1.85 million, which was $50,000 below its $1.9 million guide.<\/p>\n Four parties competed. Initially, small $10,000 rises got the battle underway, then increments climbed higher to $25,000 and $50,000 rises as more buyers entered the fray.<\/p>\n The terrace sold for $210,000 above its $2.1 million reserve. The keys were secured for $2.31 million by a young first home buyer whose father bid on her behalf. She had been renting in Paddington. The vendors are upsizing to Balmain.<\/p>\n There is no legal requirement for a vendor\u2019s reserve to be in line with their property\u2019s price guide.<\/p>\n Selling agent Cadan Hickey from Ray White Touma Taylor said: \u201cIn this market at the moment\u2026 if you look at any home that was sold between 2021 until now\u2026 most of those homes are selling for a loss.<\/p>\n \u201cWe were expecting the same on this, so the fact that they made money at all is actually quite a large achievement, given what\u2019s happening locally.\u201d<\/p>\n In Maroubra, a three-bedroom apartment with a lockup garage guided at $850,000 drew 14 registered bidders, including two investors who did not participate.<\/p>\n Five parties were active, most were first home buyer couples vying for the unit at 3\/261-263 Bunnerong Road<\/a>.<\/p>\n Related Article Bidding opened at $800,000 and, in three bids, reached its $850,000 reserve. The competition then continued in $20,000, $50,000, $10,000 and $5000 increments.<\/p>\n It sold under the hammer for $1,075,000 to a downsizer who had sold their property in the suburb but wanted to stay local.<\/p>\n \u201cOnce the bidding started, there were no breaks at all. It just flowed right to the end,\u201d selling agent Paul Spanoudakis from Raine & Horne Maroubra said.<\/p>\n \u201cThere are people out there looking to buy, and I think this was a property that really attracted those young couple first home buyers.\u201d<\/p>\n He added that investors aren\u2019t as strong as they were before the government\u2019s changes to tax arrangements, which is giving some opportunity to young people to get into the market.<\/p>\n The deceased estate last traded for $191,000 in 1993, records show.<\/p>\n In Cronulla, a two-bedroom apartment with ocean views sold for $1.67 million.<\/p>\n The unit at 12\/18-20 Arthur Avenue<\/a> faced the Esplanade and had a sweeping ocean vista from the open-plan living room.<\/p>\n![\"14](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/06\/5aa19b2de484c588484c42749930c5005852ef08.jpeg\")
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