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Remove items from your saved list<\/a> to add more.<\/p>\n AAA<\/p>\n A three-bedroom, two-storey heritage apartment in leafy Elizabeth Bay failed to sell at auction on Saturday, as a winter chill continues to grip the Sydney property market<\/a>.<\/p>\n The property at 3\/4 Holdsworth Avenue<\/a> had a $2.35 million reserve and was marketed with a price guide of $2.4 million.<\/p>\n Despite its house-like proportions, Edwardian-era features and proximity to Rushcutters Bay Park, the apartment attracted one pre-registered bidder.<\/p>\n Proceedings opened with a vendor bid of $2.2 million. A female spectator who had previously inspected the property then registered on the spot, but she did not put in a bid. The other registered bidder declined to counter the vendor bid, and the property was passed in.<\/p>\n The vendor was a local investor. Both the registered bidders were owner-occupiers.<\/p>\n Ray White agent Renee Cross said both parties were \u201cvery strong contenders\u201d to buy the property post-auction.<\/p>\n At the time of publication, the property had not sold.<\/p>\n Cross said she and the vendor has discussed withdrawing the apartment from auction during the week due to a lack of registrations, but had ultimately decided to proceed and \u201cnot become a casualty of the current market.\u201d She said the outcome had exceeded her expectations.<\/p>\n \u201cTo walk out of that auction with two registered bidders that can afford to buy gives me confidence. I\u2019m stoked.\u201d<\/p>\n The property was one of 564 scheduled to go to auction in Sydney this week. By evening, Domain Group recorded a preliminary auction clearance rate of 49 per cent<\/a> from 325 reported results throughout the week, while 114 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.<\/p>\n In Forest Lodge, four registered bidders battled it out for a one-bedroom apartment with parking, pushing the price to $757,000.<\/p>\n The top-floor property at 33\/211 Wigram Road<\/a> had a $650,000 reserve, the same as its price guide.<\/p>\n Bidding opened at $640,000 and proceeded swiftly, rising in $5000 and $10,000 increments until the price surpassed $700,000.<\/p>\n The field then narrowed to two parties. At $740,000, the bidding increments shrunk to $1000, until a final $5000 bid brought the hammer down.<\/p>\n The property was a deceased estate. All four registered parties were first home buyers, and both the winning bidder and the underbidder were flanked by their parents.<\/p>\n<\/p>\n Belle Property Glebe agent James Cahill described the spirited bidding as a \u201cpunch-up\u201d and said the result was a pleasant surprise.<\/p>\n Related Article \u201cIt shows that, even in this market, first home buyers will compete for properties that tick all the boxes.\u201d<\/p>\n Cahill said the unit\u2019s leafy outlook, proximity to Annandale village and secure undercover parking space generated strong interest during the campaign. Also attractive to buyers was the apartment\u2019s condition, he said.<\/p>\n \u201cIt was well kept and perfectly liveable, but there was scope to add value by updating the kitchen and bathroom. In that sense, it offered the best of both worlds.\u201d<\/p>\n Cahill said the executors of the estate had listened to the market and set a \u201cfair and reasonable\u201d reserve, which had encouraged bidding.<\/p>\n Meanwhile, in Cronulla, a two-bedroom apartment with a striking vaulted ceiling sold for $1.49 million, just shy of its original $1.5 million reserve.<\/p>\n The unit at 8\/123-125 Gerrale Street<\/a> was marketed with a price guide of $1.45 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 Related Article Two registered parties competed for the top-floor residence. After an opening bid of $1,350,000, the price rose in $25,000 increments until it reached $1,425,000.<\/p>\n The increments then narrowed to $10,000, then $5000. A final flurry of $1000 bids failed to reach the reserve, but after consultation with the vendors, the auctioneer declared the reserve had been revised down to $1.49 million, and a final $5000 bid sealed the deal.<\/p>\n The winning bidders were a couple who plan to downsize into the apartment in a few years\u2019 time. The other registered party was also an owner-occupier couple.<\/p>\n The vendors, a couple, had been renting out the apartment. They had planned to downsize into it themselves but have since decided to move elsewhere in Sydney.<\/p>\n Cronulla Real Estate agent Corey Bell said the apartment\u2019s double lock-up garage, central location and large balcony with water glimpses made it an attractive pick for downsizers seeking a low-fuss lifestyle.<\/p>\n Bell said the result was indicative of how the Sydney market was performing this winter.<\/p>\n \u201cQuality property will always attract interest, but in this market, it has to be priced attractively and marketed correctly; otherwise vendors will struggle.\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![\"The](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/07\/285dc2333625ba730834bd82e47396da7ce5ba7d.jpeg\")
The Elizabeth Bay apartment had house-like proportions.Domain<\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/07\/95fb5fea11e3f3225786f3e285a585d87c560bd1.jpeg\")
The apartment has two storeys.Domain<\/p>\n![\"Meredith](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/07\/8e7fd6710771a1422efde7cc4ebbd8559d6874fb.jpeg\")
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The Wigram Road unit looks out onto trees.Domain<\/p>\n![\"Stephanie](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/07\/7bb3a57392a2f25a1b820fcc047368869a93b59e.jpeg\")
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The apartment in Gerrale Street, Cronulla was bought by downsizers.Domain<\/p>\n
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