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The Block Triple Threat 2015 Auction Results

Last night Channel Nine’s The Block handed out $3.165mil in prize money to the four couples, representing the biggest prize pool received on one single TV episode in the world.

Crazily enough, all teams left the show with at least a $665,000 boost to their bank balances, a stark contrast to the disappointing results of last season.

theblockThe auction results of the designer apartments on Darling Street in South Yarra were:

  • 1st – Dea & Darren – SOLD $2,290,000
    Reserve set at $1.455mil
    Profit of $835,000 plus $100,000 for winning
  • 2nd – Josh & Charlotte – SOLD $2,200,000
    Reserve set at $1.39mil
    Profit of $810,000
  • theblock23rd – Tim & Anastasia – SOLD $2,175,000
    Reserve set at $1.42mil
    Profit of $755,000
  • 4th – Jess & Ayden – SOLD $2,000,000
    Reserve set at $1.335mil
    Profit of $665,000

 

The four auctions were all fast paced and over in a matter of minutes with opening bids exceeding the reserve prices. In a split second Jess & Ayden made $365,000 thanks to a generous opening bid of $1.7mil smashing their reserve.

The winners and almost instant millionaires Dea & Darren were crushed last year after taking home just $10,000 for their hard work on The Block’s Glasshouse series in Prahran, what a turnaround!

theblock3The question every viewer was asking, were the reserves set too low? Or is it the market in Melbourne driving up the selling prices, especially for popular brand new furnished designer apartments in one of South Yarra’s most prestigious streets?

In Sydney, the citywide auction clearance rate hit a staggering 91% last week (APM), while the same week last year saw clearance rates at 71%. With median property prices in Sydney exceeding $900,000, it’s no wonder the auction clearance rates have jumped significantly in the last year. Sydney has led the Australian housing price growth with property values rising 14.1% in the last year, double that of nearest rival Melbourne with 7.2%.

In Melbourne, 87% of homes were sold at auction last week compared with 63% last year, so were The Block’s crazy results a truthful representation of the market? The market is definitely booming but we have to keep in mind that it is a TV show and they really did take a hit last season so reserves were probably on the conservative side.

Next season The Block returns to Prahran with the upcoming series to be filmed at the obsolete Hotel Saville on Commercial Road.

 

References
http://news.domain.com.au/domain/real-estate-news/the-block-winners-darren-and-deanne-jolly-pocket-almost-1-million-at-auction-20150429-1mw74e.html
http://www.news.com.au/entertainment/tv/the-block-result-what-happened-when-the-cameras-turned-off/story-fn8yvfst-1227088392377
http://www.news.com.au/entertainment/tv/deanne-and-darren-jolly-take-out-the-block-with-record-breaking-profit/story-fn8yvfst-1227327454814
http://www.news.com.au/finance/real-estate/record-for-sydneys-highest-auction-clearance-rate-smashed-again-amid-drop-in-volume-of-sales/story-fnd91nhy-1227322875446
http://www.theaustralian.com.au/business/property/sydneys-housing-market-auctions-set-record-clearances/story-fniz9vg9-1227322111435

 

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Don’t Overpay On Advertising When Selling Your Home

Real estate advertising has come so far since I first started in the industry. I remember as the salesperson, having to take the photos on a camera using film, then walk up to the local chemist to have them developed, $15 and an hour later we would realise the photos were not all that good and needed a second take but having to meet a print deadline we would have to pick the best of a bad bunch.

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14 Randell Ave, Lilli Pilli

Now we have such sophisticated technology for marketing at our fingertips with specialists for every step of that process, whether it is the photographer or stylist, I would not dare to pick up a camera to photograph a vendor’s property. At the same time, the cost of advertising has decreased significantly as print media falls by the wayside.

241 Attunga Rd, Yowie Bay

241 Attunga Rd, Yowie Bay

At Beach & Bay Realty we have taken a simple approach to marketing that encompasses a substantial online presence, including social media, with print media including brochures and signboards to reinforce the online experience.  We have designed our marketing packages to be best value for money without compromising on the quality of the advertising. It is no longer necessary to spend $10,000 on a marketing campaign.

5/5 McDonald St, Cronulla

5/5 McDonald St, Cronulla

Buyers are busy people, they want the information at their fingertips and this is why real estate websites have become the norm for finding buyers. Print media advertising such as our local paper is great for a coffee table read but if you are actively looking for a home or investment property, by the time that property is advertised in the paper, the agent is exchanging contracts with the buyer who found it online.

We have also sold several homes from our local  social media marketing, including the “I love Cronulla” Facebook page and Beach & Bay’s Instagram page (instagram @beachandbayrealty). With 8000 followers on Facebook, people know we know the area and check our updates daily.

15 Seaforth Ave, Woolooware

15 Seaforth Ave, Woolooware

If a vendor would like to advertise in newsprint the option is always there but we like to encourage our vendors to spend their money where it is best going to seen by active buyers. We look at it from the angle that if we were selling our own home or investment property where would we spend our money on advertising?

This is what we stand by, it works, it works fast and we have done it ourselves:

  • Professional photography – we believe our photographer is the best in the area
  • Floorplan
  • Virtual Floorplan or video
  • Websites – as many as you can be on
  • Colour brochure with floorplan
  • Signboard
  • Social media
  • 17 Bass St, Port Hacking

    17 Bass St, Port Hacking

    On-site Auctioneer if market and property suitable

This can all be done for less than $3000.

Happy Selling!

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Auction Sales Before Easter

This week all the auctions are midweek to avoid the 4 day long weekend which is traditionally a poor weekend to choose to auction your property. Most agents encourage vendors to schedule an auction prior to Easter or go for a longer campaign and hold the auction the following weekend. Thus last Saturday was a huge weekend for the Sydney property market with overall a clearance rate of 71% with 485 properties going to auction (Australian Property Monitors Sydney statistics).

With the weather still unseasonably warm, along with the ocean temperature this weekend has all the ingredients for a perfect getaway to that weekender on the South or North Coast before winter sets in. If you are staying at home there are plenty of distractions with the Easter Show coming to Cronulla!

Good luck to those vendors selling mid week and we hope everyone enjoys their 4 day weekend, we know we will!

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Local auction clearance rate beats Sydneywide

Things improved last week for the auction local clearance rate with a final score of 61.5% compared with Sydneywide of 54%.  This weekend there are no auctions scheduled in the local area because of the Easter long weekend but there are 4 midweek auctions tonight which we will update you on tomorrow.

Interest rates have been left on hold by the Reserve Bank today but petrol prices are supposed to drop this weekend? That will be a first for an Easter long weekend!

Happy Easter and let’s hope this fantastic autumn weather continues!

Autumn sunset at Cronulla

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