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Updated July 6, 2026 \u2014 12:11pm,first published 11:49am<\/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 couple paid $1,804,000 for a renovated, two-storey Glebe terrace at auction on Saturday, in a week when just over half the scheduled auctions sold.<\/p>\n The two-bedroom home at 12 Gottenham Street dates to about 1890 but features stylish updates and an entertainers\u2019 courtyard with a copper outdoor shower.<\/p>\n The property was one of 715 scheduled auctions in Sydney last week. By Saturday evening, Domain Group had recorded a preliminary auction clearance rate of 51 per cent from 424 reported results during the week, while 163 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.<\/p>\n The Glebe home was listed with a price guide of $1.7 million and drew five registered bidders.<\/p>\n Bidding began at $1.6 million, and three parties competed, narrowing to a two-horse race later in the auction.<\/p>\n Related Article Ray White selling agent Matthew Carvalho said that towards the end of proceedings the bidding was \u201cpretty slow going\u201d as contestants appeared to approach ceilings of about $1.8 million. The reserve was $1.8 million.<\/p>\n He said that interest had come from young couples and first home buyers, and the winners were renting in the Centennial Park area. He did not have investors interested in the property.<\/p>\n The market, broadly, was mixed at present, Carvalho said.<\/p>\n \u201cUnder $2.5 million, the market is still reasonably good. That $2.5 million to $3.5 million, people are just being a little more selective and fussy.\u201d He also said that buyers were mindful of the budget, interest rates and global events.<\/p>\n \u201cThis [home in Glebe] might have got closer to $2 million 12 months ago,\u201d he said.<\/p>\n Elsewhere, a dual income property, generating $1100 a week in rent, sold below reserve in Chester Hill.<\/p>\n The \u201cinvestor\u2019s dream\u201d at 2 McClelland Street<\/a> \u2013 with a four-bedroom house and two-bedroom granny flat \u2013 had a reserve of $1.32 million and sold under the hammer for $137,500 less than its reserve, for $1,182,500.<\/p>\n Two buyers registered to bid and after one eventually opened the auction at $1 million, the second buyer increased the price by $50,000. Then the opening bidder, who planned to flip it, promptly got in his car and left.<\/p>\n Related Article An investor from South Granville continued to negotiate, and after a vendor bid at $1,150,000, bid until the vendor agreed to sell at $1,182,500.<\/p>\n Selling agent Jordon Le Breux of Ray White Bankstown said the auction \u201cwas a bit of a shock. It was like pulling teeth to try and get an opening bid.\u201d<\/p>\n As for the $1.5 million guide, Le Breux said, \u201cthat estimated selling price was done about two months ago, before I suppose all these things were happening in the market. This kind of property, respectfully, six months ago would have got $1.4 [million] and $1.5 [million], no doubt about it.\u201d<\/p>\n \u201cA property with \u2026 a granny flat, in these kinds of areas, close to the station. Obviously, it\u2019s an investor\u2019s dream, but we\u2019re not really an investor\u2019s market,\u201d he said, adding that the proposed federal tax changes had reduced investors\u2019 borrowing capacity.<\/p>\n The address last traded for $400,000 in 2012, records show.<\/p>\n![\"North](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/07\/1783313602_863_f1d9acc4710ce35d44f4d9f959e3466a07090740.jpeg\")
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