New Zealand Property Investors' Federation

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Block houses might have got better prices sold separately: Newland

A property commentator says selling all four houses from TV programme The Block on the same day made good television but not good sense.

The reality show, which followed four teams renovating homes on Auckland’s North Shore, culminated in a final last night, where the homes went under the hammer.

One team’s  house sold right on the reserve price of $789,000, meaning they made no profit.

Others made profits between $11,000 and $157,000.

Olly Newland said sending all four properties to auction at the same time may not have been the best way to get the highest possible prices.

“That’s the way the market plays, you win some, you lose some,” he said.

Newland said there could have been numerous small factors behind the lower price achieved by one property, or it could simply have “been the colour of the card they got on the day”.

He said he might not have employed the same tactic if he were trying to sell the properties.

The houses had a lot of exposure through the nine weeks of the television programme.

The Block houses were getting up to 22,000 online views each; a nearby house unrelated to the show got 2000 views.

Tags: olly newland - the block