Block profits shock and delight
THE Block's grand finale has delivered more than just hundreds of thousands of dollars in profit for contestants - it's also brought back confidence.
Tweed and southern Gold Coast real estate agents claim the surprise windfalls signal a turning point in the market.
Ben Gazal, property consultant at Rainbow Bay Realty, said viewers were left shattered by last year's result when only one of the four houses managed to sell for minimum profit, while the others were passed in.
It was a different story on Sunday when all four sold, with profits ranging from $355,000 to $506,000.
"Last night everyone was flabbergasted," Mr Gazal said.
"It's a good indication that there's more confidence in the market Australia-wide."
The Channel Nine show saw four couples spend months renovating four Melbourne terraces from top to bottom, with all contestants walking away with the profit made at auction and the winner getting a bonus $100,000.
Contestants Brad and Lara won a combined $606,000 and picked up a new car after also winning the viewer's choice prize.
Dan and Dani won $448,000, Sophie and Dale won $355,000 and brothers Mike and Andrew, who hails from Byron Bay, won $434,000.
Paul Charlton, principal and sales consultant at First National Real Estate Tweed City, said he was surprised that all four home sold this year.
"It builds confidence that there is still the opportunity out there to make some good money," Mr Charlton said.
"Like anything you have to buy the right property to make the right profit."
Mr Charlton said he had noticed an increase in buyers in the market in the past four to eight weeks.
"It (The Block) shows the market is better now than in the past 12 months.
"I think the market may be starting to turn for the positive."
Mr Gazal agreed: "We've noticed a difference in the market.
"The first six months of this year was 10 times better than the first six months of 2011."
Mr Gazal also advised those thinking of renovating for profit to be careful.
"I definitely wouldn't suggest rushing out to renovate."
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