Two groups of first-home buyers competed for a two-bedroom Clovelly apartment near the beach before local buyers secured the property for $1.5 million following a private post-auction negotiation.
More than a dozen people gathered in the living room at 3/377B Clovelly Road for the Saturday auction, where a buyer’s agent represented local first-home buyers against another first-home buyer couple.
The buyer’s agent opened bidding at $1.41 million, which was $10,000 above the apartment’s $1.4 million guide. The other couple followed with a further $10,000 bid.
Clovelly Apartment Passes In At Auction
Several more bids followed in amounts of $3000, $5000 and $8000. The buyer’s agent held the lead at $1.458 million when the competing bidders paused to confer.
The agent then raised the offer to $1.46 million before four further bids were made. Bidding eventually stalled at $1.478 million, with the buyer’s agent still holding the highest offer.
The other first-home buyers then dropped out and the apartment was passed in.
A short negotiation followed in private. The buyer’s agent made another offer on behalf of the local purchasers, and the property sold for $1.5 million, matching the vendor’s reserve.
Apartment Sits 200 Metres From Clovelly Beach
The two-bedroom, one-bathroom apartment is about 200 metres from Clovelly Beach and forms part of a red-brick 1960s walk-up containing six apartments.
The property has a north-facing position and a north-east-facing balcony. It also includes a lock-up garage, parquetry flooring, double-glazed windows and an electric kitchen with cupboard and storage space.
The apartment had been freshly painted and fitted with new carpet. Its original bathroom includes a separate bath and shower, while shared laundry facilities are available on each level of the building.
The Clovelly Road property is close to cafés, village shops, buses and the coastal walk. A pub is next door and a cafe is across the street.
Belle Property Randwick agents Nick Lennan and Emilee Tayyara handled the property, while Jake Moore of Cooley conducted the auction.
Lennan said hesitation remained among some buyers, particularly first-home buyers, although he considered that less evident in Sydney’s eastern beaches suburbs.
The Clovelly apartment had been marketed with a $1.4 million guide before passing in at $1.478 million and selling shortly afterwards for its $1.5 million reserve.
Published 2-September-2026
