A Ryde couple in their 20s have had their dreams of a home for their young family dashed at the last minute by a property developer known locally as “Testosterone Tony”.

The auction of the three-bedroom weatherboard home at 97 North Road, Ryde – which sold for $1.51 million, $230,000 over reserve – was one of just 263 scheduled around Sydney on Saturday. There were fewer than last week due to the holiday weekend. With 187 of the results in by Saturday evening, Domain Group put the clearance rate at 76.6 per cent.

In Ryde, cement renderer Ali Dandan, 28, looked to have it in the bag. When a first home buyer opened proceedings with a $1 million bid, Dandan came back with $1.2 million. When another young bidder offered $1.23, Dandan said $1.3 million.

Ali Dandan and his wife Rianne were outbid by a developer at 97 North Road, Ryde. Photo: Daniel Munoz

These two then battled it out in an exciting exchange of $5000 bids. Dandan’s wife, Rianne, 24, a medical receptionist, looked on in horror as her determined husband sailed right past their limit. “He said $1.5 million and I thought, ‘What the hell’,” she confided later.

But the developer, who has already snapped up the house next door and two behind, was simply biding his time. Standing at the back, his first and only bid of $1.51 million caught everyone by surprise. 

As Dandan shook his head in disbelief and announced to auctioneer Mark Roberts “I’m out”, the developer’s friend thought it was a great joke as auctioneer Mark Roberts declared the property sold.

Vendor Maree Woodcock with her daughter, Robyn Roberts, and son, Garry Woodcock. Photo: Daniel Munoz

 “What do you do?” asked Dandan, who has a three-year-old and a one-year-old. “We’ve been looking for about a year and we keep on getting beaten at auctions – it’s just very tough for young families.”

It was an emotional day too for vendor Maree Woodcock, whose husband, John, had built the home himself over 2½ years. Working as a shift worker at the Shell oil refinery, he was also a carpenter who spent his weekends working on the house.

“John was 23 and I was 20,” Mrs Woodcock said. “We were married in June, 1959, and we moved in on the 15th of November.”

Buyers register for the auction of 97 North Road, Ryde. Photo: Daniel Munoz

She wasn’t sure what he’d paid for the block – “it was before I was on the scene” – but their mortgage was £2600, which they paid off in their 30s.

She had hoped another young family would buy their home. The developer, who didn’t reveal his name, said he didn’t know how many villas he’d build on the site. He has his eye on several neighbouring properties, too. “There’s good money in it,” he said.

The agent, Max Pracy​, of Tracy Yap Realty in Epping, said there had been 19 contracts out on the 632-square metre property, which was close to the popular Denistone East Public School.

The crowd at 97 North Road, Ryde, on Saturday. Photo: Daniel Munoz

The price guide had been $1.1 million to $1.2 million. “The owner would have taken anything over $1.15,” he said. “No one gave me feedback over $1.2 million.”

In other results, at Camperdown in the inner west, a two-bedroom apartment in the award-winning Sugarmill warehouse conversion at 21/1 Gibbens Street was popular – selling for $1.83 million – $480,000 over reserve.

The north-east facing large private terrace made this one a winner: Joseph Tropiano of Belle Property Newtown issued 46 contracts and 38 people registered to bid for the 134 square-metre unit. It sold to a Darling Point downsizer.