Sydney Inner-West Auctions Reveal Divergent Outcomes Amid Shifting Market

On October 17, 2026, three distinct properties changed hands at auction in Sydney’s inner-west suburbs, illustrating how buyers and sellers are responding to current conditions.

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• 62 O’Connor Street, Haberfield – A four-bedroom heritage home on a 563 m² block sold for $3.1 million, $200,000 above the reserve and $200,000 over the $2.9 million guide price. Four parties registered, three actively bidding, while more than 30 onlookers watched the rapid escalation from $2.8 million to the final price.

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• 16 Brighton Avenue, Croydon Park – A two-bedroom semi-detached house with a reserve of $1.45 million sold for $1.3 million, $150,000 below reserve after a single formal bid.

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• 16/73 Denman Avenue, Woolooware – A three-bedroom townhouse guided at $1.4 million and reserved at $1.52 million sold for $1.43 million after the sole registered bidder placed successive self-bids.

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These sales were part of a week in which 576 properties were scheduled for auction across Sydney.

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Interest-rate rises have constrained some buyers’ budgets, prompting strategic reserve settings and, in at least one case, a willingness to accept a price below reserve to secure a sale.

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The Haberfield home retained original timberwork and fireplaces, while the Croydon Park semi preserved many period features and had last sold for $520,000 in 2009. The Woolooware townhouse includes a covered outdoor area off an open-plan living space. Sales agents noted that the auction process enabled rapid turnover, especially for families looking to upsize after selling an apartment.

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• Charlie Powell, auctioneer (Apollo Auctions), described the bidding rhythm at Haberfield as a “Pavarotti, a tenner” sequence, emphasizing the role of clear communication between vendor and agent.

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• Joseph Rupolo, sales agent (Laing + Simmons Five Dock/Drummoyne), said under-bidders were families from Leichhardt and Annandale seeking more space.

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• Marco Errichiello, sales agent (Rich & Oliva), explained that the Croydon Park buyer’s offer reflected the maximum she could afford amid rising interest rates and that the vendor preferred a sale now rather than waiting for better conditions.

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• “She said that was the maximum she could afford to spend with the current [interest] rate rises,” — Marco Errichiello

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These auctions underscore a nuanced market where sellers sometimes accept below-reserve offers to avoid prolonged listings, while others achieve premiums by leveraging heritage appeal and buyer enthusiasm.

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