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Remove items from your saved list<\/a> to add more.<\/p>\n AAA<\/p>\n A five-bedroom home in leafy Wahroonga sold for $2.77 million on Saturday \u2013 $120,000 below its auction reserve \u2013 after one of the two registered bidders got cold feet.<\/p>\n The home at 16 Tanderra Street<\/a> had a reserve of $2.89 million and was marketed with a guide of $2,675,000.<\/p>\n There is no legal requirement for a vendor\u2019s reserve to be in line with their property\u2019s price guide.<\/p>\n After an opening bid of $2,675,000, the action stalled, before one of the two registered parties signalled they would not be participating.<\/p>\n Auctioneer Michael Walter, who was also the property\u2019s selling agent from First National Avenue, then invited the sole active party \u2013 a young family \u2013 to raise their bid.<\/p>\n Back and forth between the vendors and the active party ensued, with bids rising in ever-smaller increments until, finally, the vendors accepted an offer of $2.77 million. <\/p>\n \u201cIt was bloody hard, but little by little we negotiated an outcome,\u201d Walter said.<\/p>\n The vendors are a separating couple. The family who won the keys are upsizing from a home nearby.<\/p>\n The property was one of 580 scheduled to go to auction in Sydney this week. By evening, Domain Group recorded a preliminary auction clearance rate of 53 per cent from 353 reported results throughout the week, while 124 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.<\/p>\n Related Article Walter said the prospective buyers who inspected during the campaign had been drawn in by the home\u2019s generous around 967 sqm block size, its position next door to a nature reserve and its proximity to Wahroonga village.<\/p>\n Ultimately, however, current market sentiment thinned the field, Walter said.<\/p>\n \u201cIn this market<\/a>, something has to be perceived as great value to sell, which is what ultimately led the vendors to accept the offer they did,\u201d he said.<\/p>\n Walter said properties in upmarket suburbs such as Wahroonga were unlikely to remain bargain-priced for long.<\/p>\n \u201cThe broader market\u2019s probably come off 10 per cent, but in this area, it\u2019s only a matter of time before it comes back again.\u201d<\/p>\n In Belmore, two parties competed for a three-bedroom semi with a large backyard, pushing the price to $1,505,000.<\/p>\n The home at 18 Liberty Street<\/a> had a reserve of $1.5 million and was marketed with a guide of $1.4 million.<\/p>\n Four registered parties attended the mid-morning auction but only two participated, and the hammer fell after just six bids.<\/p>\n Bidding opened at $1.4 million, rising in ever-smaller increments until, five bids later, it hit $1.5 million and the home was declared on the market. One final $5000 bid sealed the deal.<\/p>\n The winning bidders and the underbidders were both local families looking to upsize. Both were represented by buyer\u2019s agents.<\/p>\n The vendors, a couple moving elsewhere in Sydney, were \u201cover the moon\u201d with the result, said William Angelis, agent at Richard Matthews Real Estate.<\/p>\n Domain<\/p>\n Angelis said the property had generated significant interest during the campaign, with 55 parties inspecting.<\/p>\n The home\u2019s double-brick construction, north-facing backyard and proximity to shopping villages, train stations and an upcoming Metro station were major selling points.<\/p>\n \u201cIt ticked every box, and in the end that was what got it sold, despite the market,\u201d Angelis said.<\/p>\n Meanwhile, in Matraville, a compact two-bedroom villa fetched $1,075,000 after spirited competition between five registered bidders.<\/p>\n The home at 18\/581 Bunnerong Road<\/a>, part of a residential complex, had a $1 million reserve and was marketed with a $990,000 guide.<\/p>\n Bidding opened at $920,000 and was \u201call over the place,\u201d McGrath Maroubra agent Joshua Karam said.<\/p>\n \u201cSome people were bidding in $1000s, others in $20,000s, but all five parties were active.\u201d<\/p>\n Related Article The eventual winning bidder made his presence felt early on.<\/p>\n \u201cWhenever someone bid, he countered with a bit of authority,\u201d Karam said. \u201cHe really showed that he wanted it.\u201d<\/p>\n Bidding slowed after the price hit $1 million and the home was declared on the market. It was a final $20,000 bid that brought the hammer down.<\/p>\n The property was a deceased estate. The winning bidder, a Matraville local, plans to renovate the home before moving in.<\/p>\n \u201cIt was a given that whoever won today would renovate,\u201d Karam said.<\/p>\n All the other bidders were owner-occupiers. Karam said the registered parties had been attracted first and foremost by the price point \u2013 \u201ca small house for the price of an apartment\u201d \u2013 and the peaceful surrounds.<\/p>\n \u201cA lot of first home buyers would rather buy something with a bit of a backyard, in a neighbourhood that feels welcoming, than an apartment,\u201d he said.<\/p>\n Karam said the market was \u201cdefinitely still struggling\u201d but that demand for affordable properties in his area remained high.<\/p>\n \u201cToday just shows you that if you price properties correctly, then buyers will turn up and bid,\u201d he said.<\/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![\"Auctioneer](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/07\/af48c0db62a213683132c205ad374aa3e3e51963.jpeg\")
Auctioneer Michael Walter runs proceedings at Tanderra Street.Audrey Richardson<\/p>\n![\"Prospective](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/07\/6aa87007367e45a3c4680a783b0a07f7b17596c2.jpeg\")
Prospective buyers were keen on the property\u2019s block size.Audrey Richardson<\/p>\n![\"xx\"](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/07\/434364dc30288b52eeaaa27dc0d4902040a1f12e.jpeg\")
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The property is next door to a nature reserve.Audrey Richardson<\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/07\/4e86d509ee44851f87ee6c22706652d224e1ecab.jpeg\")
The property has a north-facing backyard.<\/p>\n![\"Claire](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/07\/1228c80ee994c1e00e97a23e150a419a6f23fc31.jpeg\")
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The winning bidder is a local.Domain<\/p>\n
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