No bids despite renovations: $4m Rosebery home passes in
A $3.95 million-listed family home in Rosebery received no bids at Saturday's auction despite three registered bidders.
The four-bedroom bungalow at 24 Morley Avenue attracted three interested buyers but none raised their hand when bidding opened. The reserve was $4 million.
The home features leadlight windows, a gourmet kitchen, covered barbecue area and swimming pool. The selling agent said bidders had done their homework but chose not to bid.
Sydney's auction clearance rate fell to 53 per cent last week, showing the market remains favourable to buyers. The vendors are relocating to be closer to family.
- 53 per cent
- Auction clearance rate
- $4 million
- Reserve price
- 3
- Registered bidders
- $3.95 million
- Listed price
Why it mattersEven high-quality, fully renovated homes struggle to sell in Sydney's soft market, signalling continued weakness for sellers at the premium end.
AustraliaSydney's property market remains a buyer's market below the 60 per cent clearance threshold; sellers must price competitively even with renovations.
✓ Claims checked against the source. checked 11 d ago
