Agents place values on The Block apartments

Belinda Punshon 20 November 2015 NEWS

Agents estimate the block

Representing real estate agents for The New Block contestants disclose their estimates of what the apartments will sell for when they go under the hammer.

As the most anticipated auction on reality television approaches, fans of The Block will soon get to see which apartments will be snapped up by the highest bidders, which properties will surpass the reserves, and how much (if any) the once-renovation-rookies will pocket at the close of auction day.

Reserve prices have not yet been revealed and auction order is yet to be decided, but just how high will the bidders go? Will there be enough demand for the lux South Yarra apartments to smash their reserves? Will the auctions be heated with relentless and competing buyers? Or will the properties only just scrape past market value?

Check out our full analysis of Melbourne’s auction clearance rates and The Block post-auction sales results to see which factors may shape auction activity.

Last night, the Nine Network’s A Current Affair revealed the real estate agents working with the contestants and their predictions for the apartment price tags.Contestants Andrew and Whitney from The New Block 2015.

All properties on the previous season of The Block went for over $2 million, with an average sales price of $2.17 million for the Triple Threat South Yarra apartments.

While the market would have changed drastically between now and then, we wonder if the agents deliberately underquoted.

Here’s what the agents are predicting for the upcoming auction:

Contestants Agent Quote Comments
Kingi and Caro Mark Konishi from Hockingstuart $1.5 million “They’ve gone very warm. I think a lot of people that walk in will feel that it’s that street urban, industrial theme, which is becoming very cool and trendy at the moment. We’re hopeful to see something possibly up around the $1.5 million”, Konishi said.
Andrew and Whitney Greg Hocking from Greg Hocking $1.3 million “It’s got a definite Scandinavian feel that’s resonated very well with the public. We’ve had a few people happy to talk around $1.3 million, but I think [the contestants] deserve a bit better than that”, Hocking said.
Suzi and Voni Glen and Nikki from RT Edgar $1.3 million+ “A lot of people, when they walk in here, say it’s so much brighter than they thought, so seeing it in person is really different. We’ve been quoting in excess of $1.3 million, and I think that’s the right quote price.the beauty of it comes from being furnished”, Glen said.
Ebony and Luke Andrew Crotty from Biggin Scott $1.5 million “The open-plan living has been really popular.the contestants have knocked out the walls of the main living area here and that’s been really, really popular”, Crotty said.
Shay and Dean Andrew McCann from Jellis Craig $1.5 million+ “There’s a really consistent flavour to the palette of interior decoration from Shay, and I think Dean’s background in being a tradesperson... he’s got great attention to detail.“We’ve promoted the property for $1.5 million+, so I would think – subject to a sense of the reserve price – we should sell the property well beyond that”, McCann said.

The Block (2015) auction will be held on Wednesday, 25 November,at 7:30pm on the Nine Network.

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