![\"Robyn](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/10\/1791609613_740_64179db9ef6efe76947feec1575bc58538a8d9b1b51eebd2752ad6a2a1d3bc56.png\")
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October 10, 2026 \u2014 1:50pm<\/p>\n
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Remove items from your saved list<\/a> to add more.<\/p>\n Gift this free article<\/p>\n Share full article with anyone \u2014 no subscription needed to read it. It won’t deduct your gift credits. Learn more<\/a><\/p>\n Share article as gift<\/p>\n AAA<\/p>\n A young couple renting locally won the keys to their first home on Saturday, paying $981,000 for a two-bedroom apartment in Marrickville at auction.<\/p>\n Three parties registered to bid for the mid-century home at 2\/35-37 Pile Street<\/a>, with two active. Bidding opened quickly at $950,000, the same as the guide, going up in increments of $5000 and $1000 until it reached $976,000 when it stalled.<\/p>\n One party made a further bid of $4000 to $980,000 at which point the reserve was renegotiated to $1 million. The same bidder then increased their bid to $981,000 and the property sold.<\/p>\n There is no legal requirement for a vendor\u2019s reserve to be in line with their property\u2019s price guide.<\/p>\n The successful bidders were attracted to the boutique size of the block, which has 10 units, and the quiet, tree-lined street. The underbidder was an owner-occupier seeking to return to the Marrickville area from north west Sydney. The vendor is hoping to upsize.<\/p>\n Sales agent for Adrian William, Norman Tran, said the size of the bids and re-adjusted reserve were an indication that there was still a \u201cprice sensitivity\u201d in the market.<\/p>\n \u201cThat is requiring vendors to re-align expectations<\/a> if they want to sell,\u201d he said.<\/p>\n Turnkey properties are also giving vendors the edge, he said, as buyers shy away from the added expense of renovating.<\/p>\n Related Article The property was one of 637 scheduled to go to auction in Sydney this week.<\/p>\n In Sutherland, a young couple expecting their first child successfully bid for a five-bedroom home with pool, paying $1.88 million.<\/p>\n Four parties registered to bid for 24a Glencoe Street<\/a>, including groups on the phone from France and Britain, with three active.<\/p>\n Bidding opened at $1.7 million, the same as the guide, followed by increments of $50,000, and then $10,000, $5000 and $1000 before the hammer fell.<\/p>\n The property had a reserve of $1.8 million. The winning bidders and the underbidder, an English-Australian couple who had first seen the property when they were overseas, were both on site. The vendor plans to downsize.<\/p>\n Luke Lombardi, sales agent for Pulse Property Agents, described the auction as \u201cquick and effective\u201d. He said the latest interest rate rise<\/a> had motivated some buyers to act.<\/p>\n \u201cBuyers are cautious that if another rate rise happens, their preapproval [loan] finishes, and they may lose some of their budget.\u201d<\/p>\n<\/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 Gift this free article<\/p>\n Share full article with anyone \u2014 no subscription needed to read it. It won’t deduct your gift credits. Learn more<\/a><\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/10\/df691553a71af58743a5a9496b1ec474cf5ef394.jpeg\")
The two-bedroom apartment is in a boutique block of just 10.Domain<\/p>\n![\"Sole](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/10\/8d7b8102b59a150efb36a898ea26e2c78f5a4faa.jpeg\")
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The single-level home sits on a 790.8 square metre block and is designed for open plan living.Domain<\/p>\n
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