A three-bedroom apartment in Waverton, priced at $2.4 million, failed to attract any bids at auction despite strong interest from potential buyers.Sales agent Sean St Clair noted that while there were 12 people present, including several neighbors, no formal bids were registered.The property's reserve price of $2.4 million will now be used as the sale price, reflecting ongoing buyer hesitancy in the market.St Clair highlighted that buyers are concerned about market volatility and potential further rate rises, which are deterring investment.The auction result underscores challenges in the property market, with buyers wary of committing to purchases amid uncertainty.The property is part of a larger trend where some listings are passing in without bids, indicating a shift in buyer behavior.While the vendors are a growing family seeking more space, the auction outcome highlights the complexities of the current market environment.The incident also contrasts with other auctions in Sydney, where properties have sold at reserve prices, showing mixed market conditions.