<text>  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 1.01 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 doesnt 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 1.95 million. However, despite a current clearance rate of 84 per cent in Sydneys 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 Domain.com: We actually didnt want to go to auction in the first place. Its such a unique home we just wanted to put it up for sale. The property is listed for sale on Bresic Whitneys 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. Its 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 1.95 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 5.7 per cent and discounted variable rates to 4.85 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. 