Buyer’s advocate reveals the move that could have won Mitch and Mark the show
Buyer’s advocate reveals the move that could have won Mitch and Mark the show

Move that could’ve saved Block ‘losers’

In one of the fastest Block auctions in the show's history, all five teams made a profit even before their respective second bids.

And while Mitch and Mark came last, they still managed to smash the $2.99 million reserve, pocketing an impressive $384,000.

"We went in with the view that anything we win above a dollar is a win and we won $384,000, so that is absolutely amazing," Mitch told news.com.au.

However, according to Australia's leading property valuer and regular buyer's advocate on The Block Greville Pabst, if the pair hadn't gone first in the auction rankings, they possibly could have won the show.

"I am shocked they didn't make more money. The order has a lot to do with it," Mr Pabst told news.com.au

"I think a lot of people do this; they wait and see what tone is going to be set which has a big influence on things."

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RELATED: Greville Pabst tips Mitch and Mark as frontrunners

Mitch and Mark made the least amount of money but they were stoked with their $384,000 profit after their property sold for $3.374 million.
Mitch and Mark made the least amount of money but they were stoked with their $384,000 profit after their property sold for $3.374 million.

Mr Pabst had tipped Mitch and Mark as the frontrunners, but believes after the pair volunteered to go first their chances of taking out the win were slim.

The Bondi duo chose to go first after generating the highest amount of registered bidders (nine), followed by Tess and Luke (eight). The remaining teams were picked at random after struggling to come to an agreement.

El'ise and Matt secured third place and scored the second highest profit ($460,000). Fan favourites Andy and Deb were in fourth place with a profit of $430,000, while Jesse and Mel felt the stress after being picked to go last. They walked away with $388,000.

Despite making the least amount of money, Mitch and Mark said they were grateful with their earnings.

"We have got a granddaughter so that's where part of the money is going and we have got massive mortgages, so we have got plenty of options for our money," Mitch said.

"We had the opportunity that very few people get - to produce a home the way we wanted to present it and we produced a home the way we felt was best."

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An Australia leading property valuer tipped the Bondi boys as the frontrunners and was surprised they didn’t make more money, putting it down to auction ranking.
An Australia leading property valuer tipped the Bondi boys as the frontrunners and was surprised they didn’t make more money, putting it down to auction ranking.

Mr Pabst, who also put in a bid on Mitch and Mark's property on behalf of his two clients, said it went for a "bargain" price.

"I think the people who bought it got it for a very good price," Mr Pabst said.

"It does have the northerly aspect and the city aspect. It's got the Mitch and Mark brand throughout it and in terms of an Airbnb, it will get the best rents."

Mr Pabst, who last year bought four out of the five Gatwick apartments on The Block, managed to secure Jesse and Mel's house for $3.378 million - the second cheapest this year after Mitch and Mark's.

However he revealed his two Australian clients, one who works in the legal field and the other in the medical industry, actually wanted the Bondi boys' pad.

"I didn't have enough fire power," Mr Pabst told news.com.au

"My buyers really wanted Mitch and Mark's but again they just wanted to wait and see what tone is set for The Block."

Another one of his clients, who pulled out last minute after being caught on a flight to Dubai was also after the "party" house.

"He was on a plane, so that made it difficult. Otherwise he would have gone the distance on Mitch and Mark's, but that's the way things happen sometimes."

 

Tess and Luke are the winners of the Block 2019 after a Melbourne-based family man bought their house for $3.620 million — $630,000 above reserve.
Tess and Luke are the winners of the Block 2019 after a Melbourne-based family man bought their house for $3.620 million — $630,000 above reserve.

"I think the one I bought is incredible value too. Mel and Jesse have put so much into it. It's really good quality."

"From a residential angle, Jesse and Mel's is the most desirable. It's quite conservative in its approach and a lot of the risk has been taken out of the style," Mr Pabst said, describing it as a "sophisticated house".

Melbourne-based family man Richard Horsley bought Tess and Luke's winning house for $3.620, admitting he "paid a bit more" for the three-storey, self-contained home, but is happy with the outcome.

"It's a pity I had that competitor who pushed me up another $150,000 but we wanted it and that's what happens in an auction, you get pushed along," he told news.com.au

Mr Pabst said the square kitchen bench was something that appealed to many buyers and it was also what attracted Mr Horsley, 63, to the property.

"I just thought the space arrangements were better than the others. I thought their kitchen would work pretty well too - and also, I was bullied into it by the rest of my family," the father-of-three told news.com.au

 

All the teams were ‘over the moon’ with the profit they made on their homes which was between $384,000 and $630,000.
All the teams were ‘over the moon’ with the profit they made on their homes which was between $384,000 and $630,000.

It is the only house to have a formal dining room at the front and the only one with a spiral staircase in the courtyard to the retreat above.

Mr Pabst said overall, to sell five houses on Grey Street in St Kilda is a great feat for the Melbourne property market, and the show.

"Grey Street has a chequered history; it's a busy road and there's prostitution, so it is a good win," he said.

"St Kilda is changing and Grey St is changing. What I know as a valuer is high crime areas tend to appreciate faster than other areas over time - for example areas like Redfern and Darlinghurst were high crime but are now getting quite expensive. The same with Fortitude Valley in Brisbane."

Prolific Melbourne developer Tim Gurner purchased the old Novotel, just around the corner to The Oslo, with the aim of developing it into a $550 million apartment complex.

"The Gatwick has also been restored and now The Olso so there's lots of gentrification happening in the area. I think in the next 10 to 15 years these homes (in The Oslo) will be proven as some of the smartest investments someone can make."

FINAL RESULT:

WINNER: Tess and Luke, $730,000 ($630,000 over reserve + $100,000 prize money)

2ND PLACE: El'ise and Matt, $460,000

3RD PLACE: Andy and Deb, $430,000

4TH PLACE: Jesse and Mel, $388,000

5TH PLACE: Mitch and Mark, $384,000


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