It’s a wrap – The Block auction recap

Season 13 of The Block has come to an end and there is always plenty of drama until the final property is sold. Five beautiful homes went under the hammer, and many potential buyers gathered to try and get their hands on a great piece of real estate. The dream family homes are perfectly located between the Elsternwick and Ripponlea villages with public transport, restaurants, cafes and also one of Australia’s best schools, Caulfield Grammar within walking distance.

Bidding at auction can be nerve-racking, and these days more and more people are seeking advice and support from a buyer’s advocate or advisor. A buyer’s advocate can guide a buyer or seller through the process to help them get the best possible outcome. This season each home was purchased by a buyer’s advocate, who were bidding on their client’s behalf. This year PropertyDuo represented comedian and TV personality Dave Hughes.

How the auctions played out

The auctions were off to a great start and Greville Pabst placed the winning bid to secure Josh and Elyse’s house on behalf of Hughesy, with the youngest couple on The Block and Hughesy incredibly happy with the result. Josh and Elyse’s, or now Hughesy’s house, is located on a corner block that faces north, with a smart roller garage door that opens onto the backyard, an impressive hallway with soaring high ceilings and solid hardwood floors. To top it all off, the Dave Franklin designed garden with plunge pool is simply stunning.

Second up was Jason and Sarah’s house, which also achieved a great result. When taking buyers through the houses in the lead up to the auction, most people fell for Josh and Elyse’s and Jason and Sarah’s homes. We’re not surprised that these two Melbourne couples ended up in the top two, with Josh and Elyse being the winners of the season.

When the first two auctions were completed, the tension increased as Sticks and Wombat reached $130,000 over reserve, which was less than the previous two homes. The bidding continued to slow down with a thin buying pool, so it’s not surprising that the remaining houses did not reach a better result. The three remaining houses sold with Perth couple Ronnie and Georgia’s passed in, with an offer made following the auction.

The past weekend was one of the busiest auction weekends in Melbourne history, with over 2000 properties up for auction, making the competition even harder, especially when five houses in the $2.5+ million price range were auctioned back to back. This is a rare occasion and if the auctions were staggered over a few months the results would most likely have been higher.

The auction order is showing to be of importance and the winners of the last two seasons have been the first homes up for auction. We’re now really excited for the next season to start and see the transformation of the iconic Gatwick Hotel in St Kilda in 2018.

PropertyDuo is a solutions driven property advisory service that is underpinned by WBP Group’s 25 year history, experience, data and risk analytics.

Getting independent advice is the best way to have a game plan and the information at hand leading into an auction. Speak to one of our trusted PropertyDuo associates for the advice you need to make an informed buying decision.

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By | 2017-11-01T10:47:12+00:00 November 1st, 2017|The Block|0 Comments