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The Block Auction Results 2012; Rumours suggest all four The Block homes sold well - in excess of the $1 million plus price expectations
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Topic Started: 30 Jun 2012, 05:57 PM (46,841 Views)
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Alex Barton
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30 Jun 2012, 05:57 PM
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Channel Nine The Block 2012 Auction Results (Auctioned Saturday 30th June, Televised Sunday 1st July)
First Official Result: 405 Dorcas Street SOLD $1.62 million ($506,000 profit above reserve for Brad and Lara)
Second Official Result: 407 Dorcas Street SOLD $1.44 million ($448,000 profit above reserve for Dan and Dani)
Third Official Result: 401 Dorcas Street SOLD $1.33 million ($355,000 profit above reserve for Dale and Sophie)
Fourth Official Result: 403 Dorcas Street SOLD $1.4 million ($434,000 profit above reserve for Mike and Andrew)
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SPOILER ALERT
The Block 2012 auctions were held behind security-enforced closed doors this afternoon, but results remain officially unreported.
The auction running order was 405 Dorcas Street first, then 407, 401, and lastly 403.
Brad and Lara went first at 2pm, and the auctions finished with Mike and Andrew.
It is believed all four terraces found buyers.
Rumours suggest all four Dorcas Street terraces sold surprisingly well - in excess of the $1 million plus price expectations.
Based on unconfirmed reports, the terrace prices averaged about $1.45 million.
(information courtesy of Jonathan Chancellor and Property Observer)
The official results will be posted here shortly after the show tomorrow (show airs Sunday 1st July 6:30-8:30pm on Channel 9)
In the meantime, read more Channel 9 The Block Threads on Australian Property Forum here: Channel Nine The Block (link)
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Ex BP Golly
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1 Jul 2012, 09:22 AM
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You'd be mad to believe the construction, banking, and real estate industries were going to allow last years oversight to ever occur again!
Each off those sectors, but especially real estate are as crooked as a babies first drawing, and the prices these amateur renovated boxes were going to fetch would have been fixed many months ago.
Wouldnt doubt if government bailed them out with a bit of stimulus or a grant or two.
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WHAT WOULD EDDIE DO? MAAAATE!
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Shadow
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1 Jul 2012, 10:23 AM
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- Ex BP Golly
- 1 Jul 2012, 09:22 AM
You'd be mad to believe the construction, banking, and real estate industries were going to allow last years oversight to ever occur again
It's certainly a much better result than last year, when only two of the properties sold at auction, and both for a massive loss, well below expectations.
Perhaps Melbourne has bottomed?
This time last year, official interest rates had climbed steadily from 3.25% to 4.75%, and most people thought they were going to keep rising. That would have put a lot of negative pressure on the market at the time. But as it turned out, that 4.75% was the peak, and rates started falling a few months later. Now rates are back down to 3.5% and it looks like they might fall further. So the interest rate outlook is much more benign this year.
Also, this weekend Melbourne recorded at overall auction clearance rate of 60% according to APM, which is probably the strongest result this year.
It will be interesting to see the actual sales prices. Might watch the show tonight (haven't watched any episodes so far).
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Shadow's Blog - The Australian Housing Market
1 - Debunking Demographia. Demographia Survey Debunked. Australian housing is not particularly unaffordable by global standards.
2 - USA, Ireland, UK, Spain and Japan Property Bubbles versus Australia. All confirmed property bubbles had one thing in common... a particular house price/income ratio pattern.
3 - Banks can't margin call on residential property unless borrower defaults, because residential property loans are regulated by the NCCP Act 2009.
4 - Housing is the second highest taxed sector of the Australian Economy. Renters don't pay their fair share of tax, and are subsidised by high taxes incurred by homeowners.
5 - Epic Fail! Steve Keen's Bad Calls and Predictions.
Parse: A rep's spare spear pares pears, reaps as per AREPS.
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zaph
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1 Jul 2012, 10:43 AM
Post #4
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- Shadow
- 1 Jul 2012, 10:23 AM
It's certainly a much better result than last year, when only two of the properties sold at auction, and both for a massive loss, well below expectations.
Perhaps Melbourne has bottomed?
This time last year, official interest rates had climbed steadily from 3.25% to 4.75%, and most people thought they were going to keep rising. That would have put a lot of negative pressure on the market at the time. But as it turned out, that 4.75% was the peak, and rates started falling a few months later. Now rates are back down to 3.5% and it looks like they might fall further. So the interest rate outlook is much more benign this year.
Also, this weekend Melbourne recorded at overall auction clearance rate of 60% according to APM, which is probably the strongest result this year.
It will be interesting to see the actual sales prices. Might watch the show tonight (haven't watched any episodes so far).
The stronger results (compared to the last block auctions, if they come to pass) may be the result of the private nature of the auctions. I think a lot of people would not want to be on TV.
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zaph
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1 Jul 2012, 10:48 AM
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The Block 2012 auctions were held behind security-enforced closed doors this afternoon
Security enforced closed doors?
Right! No one's leaving till we get a bid above reserve!! We have sarin and we're not afraid to use it.
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Alex Barton
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1 Jul 2012, 12:20 PM
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Real Estate agent Hocking Stewart reveals result for 403 Dorcas Street: http://www.realestateview.com.au/propertydata/auction-results/victoria/S/#alphabet_links
- Attached to this post:
 403DorcasStreet.png (10.76 KB)
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Shadow
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1 Jul 2012, 12:38 PM
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- zaph
- 1 Jul 2012, 10:43 AM
The stronger results (compared to the last block auctions, if they come to pass) may be the result of the private nature of the auctions. I think a lot of people would not want to be on TV.
I'm pretty sure it's all going to be televised tonight.
They just don't show it 'live' - I expect Channel 9 has a lot of editing to do, to get it ready for the two hour time-slot.
Edited by Shadow, 1 Jul 2012, 12:38 PM. |
Shadow's Blog - The Australian Housing Market
1 - Debunking Demographia. Demographia Survey Debunked. Australian housing is not particularly unaffordable by global standards.
2 - USA, Ireland, UK, Spain and Japan Property Bubbles versus Australia. All confirmed property bubbles had one thing in common... a particular house price/income ratio pattern.
3 - Banks can't margin call on residential property unless borrower defaults, because residential property loans are regulated by the NCCP Act 2009.
4 - Housing is the second highest taxed sector of the Australian Economy. Renters don't pay their fair share of tax, and are subsidised by high taxes incurred by homeowners.
5 - Epic Fail! Steve Keen's Bad Calls and Predictions.
Parse: A rep's spare spear pares pears, reaps as per AREPS.
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Ex BP Golly
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1 Jul 2012, 03:35 PM
Post #8
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- Shadow
- 1 Jul 2012, 12:38 PM
....... - I expect Channel 9 has a lot of editing to do, to get it ready for the two hour time-slot.
I sympathise. The length of time it takes to wrap up an auction......and most on a vendors bid.
Three auctions.....sheeeeeesh!
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WHAT WOULD EDDIE DO? MAAAATE!
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Shadow
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1 Jul 2012, 03:55 PM
Post #9
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- Ex BP Golly
- 1 Jul 2012, 03:35 PM
I sympathise. The length of time it takes to wrap up an auction......and most on a vendors bid.
Three auctions.....sheeeeeesh!
Four auctions.
And don't forget they have to edit in a 5-minute ad break every 15 minutes!
Edited by Shadow, 1 Jul 2012, 03:56 PM. |
Shadow's Blog - The Australian Housing Market
1 - Debunking Demographia. Demographia Survey Debunked. Australian housing is not particularly unaffordable by global standards.
2 - USA, Ireland, UK, Spain and Japan Property Bubbles versus Australia. All confirmed property bubbles had one thing in common... a particular house price/income ratio pattern.
3 - Banks can't margin call on residential property unless borrower defaults, because residential property loans are regulated by the NCCP Act 2009.
4 - Housing is the second highest taxed sector of the Australian Economy. Renters don't pay their fair share of tax, and are subsidised by high taxes incurred by homeowners.
5 - Epic Fail! Steve Keen's Bad Calls and Predictions.
Parse: A rep's spare spear pares pears, reaps as per AREPS.
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Ex BP Golly
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1 Jul 2012, 04:41 PM
Post #10
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- Shadow
- 1 Jul 2012, 03:55 PM
Four auctions.
And don't forget they have to edit in a 5-minute ad break every 15 minutes!
Lol!
I wonder if anyone here actually watches it?
Do any even watch the final episode, or are we just happy to read.about the results?
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WHAT WOULD EDDIE DO? MAAAATE!
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zaph
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1 Jul 2012, 04:51 PM
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- Shadow
- 1 Jul 2012, 12:38 PM
I'm pretty sure it's all going to be televised tonight.
They just don't show it 'live' - I expect Channel 9 has a lot of editing to do, to get it ready for the two hour time-slot.
I haven't followed it so I could be wrong, but I believe there was an option for bidders to be not televised. I expect some of the bidders to be only shown from behind.
this anonymity is what i was referring to.
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Ex BP Golly
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1 Jul 2012, 04:52 PM
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If they could work something like this into the show....... Id watch!
http://www.foxnews.com/us/2012/06/29/suicide-by-poison-suspected-in-ariz-court-death/?test=latestnews
Maybe ther producers are looking for material for a tele movie!
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WHAT WOULD EDDIE DO? MAAAATE!
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zaph
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1 Jul 2012, 05:02 PM
Post #13
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- Shadow
- 1 Jul 2012, 03:55 PM
Four auctions.
And don't forget they have to edit in a 5-minute ad break every 15 minutes!
adding breaks is simple. but they probably have two cameras, over several (+) hours of footage so that's a lot of editing.
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Shadow
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1 Jul 2012, 05:26 PM
Post #14
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Evil Zealot Specufestor
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- zaph
- 1 Jul 2012, 04:51 PM
I haven't followed it so I could be wrong, but I believe there was an option for bidders to be not televised. I expect some of the bidders to be only shown from behind.
this anonymity is what i was referring to.
Fair enough, I don't watch it either, so you might be right.
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adding breaks is simple. but they probably have two cameras, over several (+) hours of footage so that's a lot of editing.
Yes, I do a bit of video editing myself... Final Cut Express and iMovie stuff. It takes a painfully long time to convert raw footage to something watchable, especially when there is more than one camera involved. Unfortunately my relos all avail of my (free!) services for weddings etc, so I spend a lot of my spare time video editing (that's when I'm not astroturfing for the vested interests, of course).
|
Shadow's Blog - The Australian Housing Market
1 - Debunking Demographia. Demographia Survey Debunked. Australian housing is not particularly unaffordable by global standards.
2 - USA, Ireland, UK, Spain and Japan Property Bubbles versus Australia. All confirmed property bubbles had one thing in common... a particular house price/income ratio pattern.
3 - Banks can't margin call on residential property unless borrower defaults, because residential property loans are regulated by the NCCP Act 2009.
4 - Housing is the second highest taxed sector of the Australian Economy. Renters don't pay their fair share of tax, and are subsidised by high taxes incurred by homeowners.
5 - Epic Fail! Steve Keen's Bad Calls and Predictions.
Parse: A rep's spare spear pares pears, reaps as per AREPS.
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earthsta
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1 Jul 2012, 05:45 PM
Post #15
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- Shadow
- 1 Jul 2012, 10:23 AM
- Ex BP Golly
- 1 Jul 2012, 09:22 AM
You'd be mad to believe the construction, banking, and real estate industries were going to allow last years oversight to ever occur again
It's certainly a much better result than last year, when only two of the properties sold at auction, and both for a massive loss, well below expectations. Perhaps Melbourne has bottomed? This time last year, official interest rates had climbed steadily from 3.25% to 4.75%, and most people thought they were going to keep rising. That would have put a lot of negative pressure on the market at the time. But as it turned out, that 4.75% was the peak, and rates started falling a few months later. Now rates are back down to 3.5% and it looks like they might fall further. So the interest rate outlook is much more benign this year. Also, this weekend Melbourne recorded at overall auction clearance rate of 60% according to APM, which is probably the strongest result this year. It will be interesting to see the actual sales prices. Might watch the show tonight (haven't watched any episodes so far).
One more interest rate cut and we'll be where we were back at the zenith of the GFC....and yet YOU think we're traveling OK?
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