SYDNEY LUXURY HOME LISTED WITH A CHEEKY $1 RESERVE
An opulent Ryde home, packed with cinema, pool, sauna and more, is hitting the auction block with a $1 reserve.
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In a move that is equal parts audacious and inspired, luxury real estate group Black Diamondz has listed a newly completed five-bedroom mansion in Ryde with a reserve price of $1.
The property at 26 Clermont Avenue is anything but bargain basement – featuring four lavish levels, a concrete structure, a private cinema, a mineral lap pool, a wine cellar, a sauna and even lift access.
Meanwhile, Ryde’s median house price is hovering around $2.5 million.
“This is not just another house. It’s a showpiece,” says Monika Tu, founder of Black Diamondz. “We’re not asking the market to guess its worth; we’re inviting it to experience it.”
Spicing things up further, the sales campaign doubles as a philanthropic effort.
Tu, along with agents Courtney Wong and Blake Morris, is using the high‑profile auction to raise awareness (and funds) for the Children’s Cancer Institute as part of the 2025 Dare to Cure challenge.
“We believe in creating value beyond the transaction,” says Tu. “Shining a light on the Children’s Cancer Institute turns luxury into legacy.”
Property Highlights
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Five bedrooms, four bathrooms, three en-suites
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Private cinema, sauna, gym and wine cellar
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Gourmet kitchen with Miele appliances and butler’s pantry
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Tundra limestone, Venetian plaster finishes, mineral lap pool
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Quiet street near top schools, parks and Top Ryde Shopping Centre
Whether the $1 reserve is a marketing masterstroke or the future of auction theatrics, one thing’s sure: this isn’t your average Ryde listing.
Bidding starts with a gold coin. Final sale price? That’s anyone’s guess.
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Buyer demand, seller confidence and the First Home Guarantee Scheme are setting up a frantic spring, with activity likely to run through Christmas.
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The spring property market is shaping up as the most active in recent memory, according to property experts Two Red Shoes.
Mortgage brokers Rebecca Jarrett-Dalton and Brett Sutton point to a potent mix of pent-up buyer demand, robust seller confidence and the First Home Guarantee Scheme as catalysts for a sustained run.
“We’re seeing an unprecedented level of activity, with high auction numbers already a clear indicator of the market’s trajectory,” said Sutton. “Last week, Sydney saw its second-highest number of auctions for the year. This kind of volume, even before the new First Home Guarantee Scheme (FHGS) changes take effect, signals a powerful market run.”
Rebecca Jarrett-Dalton added a note of caution. “While inquiries are at an all-time high, the big question is whether we will have enough stock to meet this demand. The market is incredibly hot, and this could lead to a highly competitive environment for buyers, with many homes selling for hundreds of thousands above their reserve.”
“With listings not keeping pace with buyer demand, buyers are needing to compromise faster and bid harder.”
Two Red Shoes identifies several spring trends. The First Home Guarantee Scheme is expected to unlock a wave of first-time buyers by enabling eligible purchasers to enter with deposits as low as 5 per cent. The firm notes this supports entry and reduces rent leakage, but it is a demand-side fix that risks pushing prices higher around the relevant caps.
Buyer behaviour is shifting toward flexibility. With competition intense, purchasers are prioritising what they can afford over ideal suburb or land size. Two Red Shoes expects the common first-home target price to rise to between $1 and $1.2 million over the next six months.
Affordable corridors are drawing attention. The team highlights Hawkesbury, Claremont Meadows and growth areas such as Austral, with Glenbrook in the Lower Blue Mountains posting standout results. Preliminary Sydney auction clearance rates are holding above 70 per cent despite increased listings, underscoring the depth of demand.
The heat is not without friction. Reports of gazumping have risen, including instances where contract statements were withheld while agents continued to receive offers, reflecting the pressure on buyers in fast-moving campaigns.
Rates are steady, yet some banks are quietly trimming variable and fixed products. Many borrowers are maintaining higher repayments to accelerate principal reduction. “We’re also seeing a strong trend in rent-vesting, where owner-occupiers are investing in a property with the eventual goal of moving into it,” said Jarrett-Dalton.
“This is a smart strategy for safeguarding one’s future in this competitive market, where all signs point to an exceptionally busy and action-packed season.”
Two Red Shoes expects momentum to carry through the holiday period and into the new year, with competition remaining elevated while stock lags demand.
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