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Remove items from your saved list<\/a> to add more.<\/p>\n AAA<\/p>\n A developer paid $2.28 million on Saturday for a North Epping home that he plans to knock down and replace, beating two other bidders who had the same plan.<\/p>\n The three-bedroom house at 4 Grigg Avenue<\/a> had a reserve of $2.05 million and was marketed with a guide of $1.95 million. <\/p>\n There is no legal requirement for a vendor\u2019s reserve to be in line with their property\u2019s price guide.<\/p>\n Of the 10 registered bidders who braved the cold to attend the morning auction, seven were owner-occupiers keen to renovate the original-condition 1960s home.<\/p>\n The property was one of 715 scheduled to go to auction in Sydney this week. By evening, Domain Group recorded a preliminary auction clearance rate of 51 per cent from 424 reported results throughout the week, while 163 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.<\/p>\n Related Article But when bidding opened at $1.9 million, the field narrowed to three parties, all of whom intended to redevelop the almost 740 sq m parcel as a duplex.<\/p>\n After three swift bids, rising in $50,000 increments, the property was declared on the market. Bidding then narrowed to $20,000 climbs, followed by $10,000 and a handful of $5000 rises.<\/p>\n The winning bidder was on holiday in Thailand and was represented by a buyer\u2019s agent.<\/p>\n The vendor, a retiree whose father built the home 60 years ago, is moving to Western Australia to be near her niece.<\/p>\n McGrath agent Betty Ockerlander said the property\u2019s 19-metre frontage and position on the high side of the street made it ripe for redevelopment.<\/p>\n The owner-occupiers who had registered were attracted by the home\u2019s peaceful surroundings and position within the Cheltenham Girls\u2019 High and Epping Boys\u2019 High catchments, but were \u201cultimately priced out\u201d.<\/a><\/p>\n Ockerlander said she had worked overtime to achieve an above-expectations result in the current market.<\/p>\n \u201cI\u2019ve been doing this for 32 years, and I\u2019ve seen this cycle before. You just have to do more buyer work. You have to chase the buyers<\/a>.\u201d<\/p>\n In Camperdown, a two-bedroom worker\u2019s cottage on a wide, tree-lined street sold for $1,465,000 after a rapid-fire bidding battle.<\/p>\n The home at 20 Hopetoun Street<\/a> had a reserve of $1.4 million, the same as its guide.<\/p>\n Three bidders had registered, but one withdrew on Friday evening, citing issues with finance.<\/p>\n The two remaining parties, both owner-occupiers, clocked up 39 bids between them. Bidding opened at $1,255,000 and rose in $25,000 increments until auctioneer Edward Riley declared the home on the market.<\/p>\n The increments then narrowed to $5000, followed by $1000. The successful party sealed the deal with a final $5000 bid.<\/p>\n The property was a deceased estate. The purchaser, who was represented on the day by his father, plans to renovate before moving in.<\/p>\n Forsyth agent James Snodgrass said the home\u2019s appeal was \u201call about location\u201d, with parks, Royal Prince Alfred Hospital and Newtown an easy walk away.<\/p>\n He said the result showed there were \u201cfantastic opportunities\u201d for buyers in the current market<\/a>.<\/p>\n \u201cGenerally speaking, the market has come off between 10 and 30 per cent. The government\u2019s telling us it\u2019s come off a couple of per cent, but that data\u2019s already way out of date.\u201d<\/p>\n In Caringbah South, a double-brick house with park views defied the downturn and sold for $105,090 above its reserve at auction on Saturday.<\/p>\n The home at 29 Robin Place<\/a> had a reserve of $1.9 million and was marketed with a guide of $1.7 million. It sold for $2,005,090.<\/p>\n A sizable crowd, including eight registered bidders, gathered in the cul-de-sac for the mid-morning auction. Of those registered, six took part.<\/p>\n After an opening bid of $1.7 million, the price rose largely in $5000 increments, narrowing to $1000 increments as the home approached its reserve.<\/p>\n When the price reached $1.9 million and the home was declared on the market, bidding heated up again, with a flurry of $5000 raises before the successful party bid an extra $5090 to secure the keys.<\/p>\n Related Article The home was a deceased estate. \u201cIt was quite an emotional sale for the family,\u201d Pulse Property Agents\u2019 Luke Lombardi said. \u201cTheir father had lived there for 45 years.\u201d<\/p>\n The purchaser is planning to renovate, stripping the original-condition home of its bright-red carpets, beige wallpaper and blue bathroom tiles before moving in with his family.<\/p>\n Lombardi said the result exceeded his expectations. \u201cThe amount of interest I had in this property did surprise me, to be honest.\u201d<\/p>\n He said the registered bidders had been attracted by the quiet cul-de-sac location, the generous 588 sq m block and the five-bedroom home\u2019s solid bones.<\/p>\n Lombardi said the result was cause for cautious optimism. \u201cLet\u2019s hope it is a sign that the market\u2019s rebounding.\u201d<\/p>\n Save<\/p>\n You have reached your maximum number of saved items.<\/p>\n Remove items from your saved list<\/a> to add more.<\/p>\n![\"Home-buying](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/07\/d2433ad4338d4bdc75ace174dd06fd5137c68e65.jpeg\")
Home-buying hopefuls braved the cold at Saturday\u2019s auction in North Epping.George Chan<\/p>\n![\"xx\"](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/07\/434364dc30288b52eeaaa27dc0d4902040a1f12e.jpeg\")
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The vendor is planning to move to Western Australia.George Chan<\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/07\/fc4de5c8e978ce431931645cec19aefe7a1b726b.jpeg\")
The agent said the property was \u201cripe for redevelopment\u201d.Domain<\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/07\/eea1946cc7dc8c7167151719bf1443ec1f784f22.jpeg\")
The winning bidder plans to renovate the home.Domain<\/p>\n![\"Niko](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/07\/598a70ad8a72405b7ca72a07062474f048478f96.jpeg\")
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