Channel 9 The Block 2011: Purchase, Reserve & Sale Prices, Renovation Costs, Rental Yields; Block houses expected to lose half a million dollars each. All four cottages bought by investors.
Tweet Topic Started: 22 Aug 2011, 09:43 AM (26,550 Views)
AUSTRALIANS' addiction to TV renovation shows is well known, but now there's financial proof - we back it up with our wallets. Economic research undertaken for The Saturday Age suggests the popular reality television show The Block broadcast on Channel Nine earlier this year has a statistically significant impact on the economy when it comes to renovations. Spending on renovations across the nation was boosted by $251 million each time the series was broadcast, econometric modelling by the Housing Industry Association found. ''The results appear to be surprisingly robust,'' HIA's Economics Group said.
The final episode of the show, filmed in inner-suburban Richmond, fizzled during the last screening when only one of the contestants' four homes sold at auction, but the entire series appears to trigger a renovation jackpot. ''The model suggests that an airing of The Block in any particular quarter causes a statistically significant boost to renovations six months later,'' said HIA economist Andrew Harvey.
By Jonathan Chancellor Wednesday, 23 November 2011
The Block 2012 filming is well underway on Dorcas Street, South Melbourne, but its key point of difference has yet to get through Port Phillip Council.
The Channel 9 reality television shows – which will headline the 2012 programing launch by the network after its stellar 2011 season – features the formulaic four adjoining properties.
It is Victorian terraces this time – unlike the Richmond cottages last year.
But plans to demolish an adjoining cottage on Montague Street to make way for rear four-car garaging with loft rooms has yet to get through the council.
There are three objections to the plans, which are being considered by council staff. It is usually council policy that matters with fewer than 15 complaints are dealt with by delegated authority by council officers and needn't go before a council meeting for final approval.
Filming began late last month, with the show expected to air in February, with Scott Cam back as the affable host.
Nine has been keeping details of the fifth series a big secret, having not provided any information yet on the contestants.
But some details of the series are expected to be unveiled at today’s programming and sales launch.
The series – which aired in an expanded format last year – rated more than 1 million viewers daily, with the series finale in August pulling in 3.2 million viewers nationally.
The production company spent some some $3,025,000 on four unrenovated terraces in Dorcas Street.
One of the four Richmond properties on the hit Channel 9 renovation series The Block 2011 is back on the rental market, but with a lower rental asking price.
It was the dearest home sold at last year's auction – the three-bedroom 37 Cameron Street Edwardian cottage, which Josh and Jenna sold for $1 million.
Before last September's auction buyers were given guidance that the property could be expected to fetch between $1,200 and $1,300 per week in rent and came with price hopes of $900,000 to $990,000.
It was initially for lease with a weekly $1,250 asking rent last September.
Its is now available for rent at $1,100 a week.
It’s listed for rent through Woodwards Carnegie.
Its initial asking rent post-auction reflected a 6.3% gross yield.
The Block unearths home truths about renovation spending
And the truth was very ugly and it points out most the blow-hard PI's lie about their costs and gains.
Quote:
A proposed 12-storey Richmond apartment block with shops is set to hurt the re-sale potential and rental income of the four homes sold recently on Channel Nine's hit TV series The Block.
Then the ugly truth gets uglier...........
You're promised golden beaches but the reality is you get eaten by a shark!
The next trick of our glorious banks will be to charge us a fee for using net bank!!! You are no longer customer, you are property!!!
Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.
Forum Rules:
The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.
Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.
Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.
This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.
Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ
Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy