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Two million tune in for The Block auctions

Two million tune in for The Block auctions

by Reporter 0 comments

Stacey Moseley and Steven Cross

Over two million Australians tuned in to last night's finale of The Block to see three Bondi apartments sell well above the median price.

All four Bondi properties sold at auction with prices starting at $1.37 million, with winners Phil and Amity achieving a sale price of $1.67 million – almost $300,000 over the reserve price.

NSW Fair Trading made an appearance after last year’s controversial results which led to allegations of underquoting.

Senior Investigator Steve McGuire said told The Sydney Morning Herald that their presence aimed to show the public the show was getting no special treatment.

“We're here to let people know that The Block isn't out there on its own; it is monitored by the industry.”

Award winning auctioneer Damien Cooley achieved the highest price on the night, but also told The Sydney Morning Herald that those buying properties were the real winners.

“If you look at the core investment of what was put into those houses they were good value for the purchasers,” he said.

“People like success and the public want to see these properties sell,” he said. “It is obviously very important that the contestants make money so The Block continues and so people want to go on it.”

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Two million tune in for The Block auctions
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