Zetland terrace sells for $2.23 million at Sydney auction

A four-bedroom terrace house in Zetland, Sydney, sold for $2.23 million at auction on Saturday. The property, located at 59 Hansard Street, had an initial price guide of $2.1 million. The sale occurred after the vendors adjusted their reserve price down by $45,000 to meet the market.

The buyer, a father purchasing the home for his university-aged son, engaged in a bidding process that included increments of $10,000 and $25,000. The vendors had originally purchased the property in 2021 for $2,030,000.

In the broader Sydney market, Domain reported a preliminary auction clearance rate of 51 per cent from 653 reported results during the week. Out of 1,029 scheduled auctions, 232 were withdrawn.