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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
Topic Started: 30 Jun 2012, 06:57 PM (51,576 Views)
Alex Barton
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The results from The Block Sky High Auction 2013 will be posted in the thread linked below on Sunday 28th July 2013 or earlier if known:

The Block Sky High 2013 Auction Date Results Winner: Who Wins the Biz Motel Melbourne Auction on Channel 9?

2012 thread continues below.

* * *

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)

Quote:
 
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)
Edited by Alex Barton, 27 Jul 2013, 05:29 PM.
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Ex BP Golly
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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.
Edited by Ex BP Golly, 1 Jul 2012, 10:24 AM.
WHAT WOULD EDDIE DO? MAAAATE!
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Shadow
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Ex BP Golly
1 Jul 2012, 10:22 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).
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 property bubbles had one thing in common...
3 - Banks can't margin call on residential property unless borrower defaults, because residential property loans regulated by NCCP Act 2009.
4 - Housing is second highest taxed sector of Australian Economy. Renters subsidised by high taxes incurred by homeowners.
5 - Epic Fail! Steve Keen's Bad Calls and Predictions.
6 - Australian household formation rate faster than population growth rate since 1960s = ongoing improvement in housing affordability.
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zaph
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Shadow
1 Jul 2012, 11:23 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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Quote:
 
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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Real Estate agent Hocking Stewart reveals result for 403 Dorcas Street: http://www.realestateview.com.au/propertydata/auction-results/victoria/S/#alphabet_links

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Shadow
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zaph
1 Jul 2012, 11:43 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, 01:38 PM.
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 property bubbles had one thing in common...
3 - Banks can't margin call on residential property unless borrower defaults, because residential property loans regulated by NCCP Act 2009.
4 - Housing is second highest taxed sector of Australian Economy. Renters subsidised by high taxes incurred by homeowners.
5 - Epic Fail! Steve Keen's Bad Calls and Predictions.
6 - Australian household formation rate faster than population growth rate since 1960s = ongoing improvement in housing affordability.
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Ex BP Golly
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Shadow
1 Jul 2012, 01:38 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!
WHAT WOULD EDDIE DO? MAAAATE!
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Shadow
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Ex BP Golly
1 Jul 2012, 04:35 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, 04:56 PM.
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 property bubbles had one thing in common...
3 - Banks can't margin call on residential property unless borrower defaults, because residential property loans regulated by NCCP Act 2009.
4 - Housing is second highest taxed sector of Australian Economy. Renters subsidised by high taxes incurred by homeowners.
5 - Epic Fail! Steve Keen's Bad Calls and Predictions.
6 - Australian household formation rate faster than population growth rate since 1960s = ongoing improvement in housing affordability.
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Ex BP Golly
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Shadow
1 Jul 2012, 04:55 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?
WHAT WOULD EDDIE DO? MAAAATE!
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