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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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The Block Auction Results 2014

Chris & Jenna's Apartment

Chris & Jenna’s Apartment

Last night the nation tuned in to watch the finale of Channel 9’s The Block. Whether you’ve followed the series since the beginning, watched a few episodes here and there or purely just switched on to see the results, we were all watching and everyone’s talking today!

Last year the contestants took home over $500,000 each, a big difference to this year’s results…
  • The boys Simon & Shannon won this years series and took home $445,000 ($100,000 prize money plus $335,000 profit)
  • 2nd place Chris & Jenna walked away with $310,000
  • 3rd place Max and Karstan received $40,000
Shannon & Simon's Apartment

Shannon & Simon’s Apartment

Darren & Dee and Michael & Carlene walked away with just $10,000 for their efforts over the last 10 weeks. As news.com.au calculated, their efforts were worth $10.21 per hour based on a 16 hour working day over 7 days a week, including the $700 per week away-from-home allowance received from Channel 9! To sum it up, these two couples worked for just over half of the hourly minimum wage.

This morning I asked our Managing Director Kylie Emans about the results and her response as a real estate agent was: “the property market has spoken, now that was reality! The only reality in that reality tv show!”

Michael & Carlene's Apartment

Michael & Carlene’s Apartment

All those people lining up to look and all of us watching on TV but who are the buyers? 3 bidders stood out and the first auction stalled before a bidding war between two parties kicked off (what a relief that was!), but they were all the same buyers (even some familiar faces from previous seasons) bidding on each apartment, what a joke!

Now everyone is pointing the blame – were the reserves set too high? Are the auctioneer’s to blame? Did the bidders have inside information? Or was it all down to the order of the auctions? (despite the majority of couples wanting to go towards the end!)

One thing’s for sure, it definitely shows the unpredictable nature of the property market!Source: http://www.news.com.au/entertainment/tv/the-block-darren-and-deanne-and-michael-and-carlene-earnt-just-1071-per-hour-for-their-efforts/story-fn8yvfst-1227088489917

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