a couple who poured $400,000 into a two bedroom cottage in a bid to turn it into a stylish family home have been left disappointed after it failed to attract a single bid at auction the couple paid $101 million for the terrace house in redfern, an inner city suburb in sydney, 18 months ago, domain reports after months of toiling the house is now beautifully renovated   but it doesn't have a new owner just yet at the front, a new picket fence, synthetic lawn and roof have been added scroll down for video  the house used to be a modest one floor terrace (left) it has now been transformed into a stylish four bedroom house (right) the back garden has been modernised, with the washed out patio being transformed into a stylish, slick grey yard featuring floor lighting inside, the home there is now three bathrooms, and four good sized bedrooms including one with an ensuite the desirable property also features an open plan kitchen and living area with plenty of natural light the only part of the original terrace that still remains is the front room the property in redfern, inncer city sydney, has been revamped and modernised at a cost of $400,000  the backyard was once a washed out patio (left), now it is a slick grey outdoor area perfect for entertaining (right) 'skylights and wide glass fill the space with natural light': as part of the revamp the house has been opened up to become more spacious  the couple had hoped to sell the house on saturday after their real estate agents, bresic whitney, listed it with a price guide of more than $195 million however, despite a current clearance rate of 84 per cent in sydney’s auction market the house at 1 charles street failed to earn a single bid from the 30 people who came to see it go under the hammer the couple told domaincom: ‘we actually didn't want to go to auction in the first place it’s such a unique home we just wanted to put it up for sale’ the property is listed for sale on bresic whitney’s website for $2,150,000 'jdh architects designed, this terrace was rebuilt throughout with obvious attention to detail skylights and wide glass fill the space with natural light,’ the website says ‘it's an impressive result for an inner city laneway setting’ daily mail australia has contacted the couple for comment the couple had hoped to sell the house on saturday after their real estate agents listed it with a price guide of more than $195 million  inside, the home there is now three bathrooms, and four good sized bedrooms including one with an ensuite  the house at 1 charles street failed to earn a single bid from the 30 people who came to see it go under the hammer  at the beginning of february, the reserve bank decided to cut the cash rate by 25 basis points meaning  the typical standard variable mortgage rate is likely to go down to 57 per cent and discounted variable rates to 485 per cent; the lowest cost of mortgage debt since july 1968 the lower mortgage rates appear to have added further fuel to what is already a strong housing market last month rp data reported dwelling values in sydney were set to rise by more than one per cent over the month of february as the house market continues to set new record highs head of research tim lawless said: 'it may take some time for the lower interest rate setting to flow through to an acceleration in dwelling values, however early indicators show the market is responding to the lower cost of debt 'auction clearance rates hit the highest level since 2009 over the weekend'
$101 million 400,000 redfern sydney 18 months saturday
a couple paid $101 million for the terrace house . they have spent a further $400,000 renovating the redfern property, in inner city sydney . over 18 months it has been transformed from a two bed to a four bed home . but the stylish house did not earn a single bid at auction on saturday 