Insights

 

The record-breaking result on The Block’s finale this week has been making waves all across Australia. The townhouses of 27 Darling Street sold at a minimum of $2mil each.

The winning couple, Deanne and Darren Jolly, had their unit sell for $2.29mil, walking away with close to a million dollars in cash prizes.

Boasting a mix of large stately homes and new and established apartment developments, the South Yarra area’s median house price currently sits at $1,510.000, whilst units fetch a median of $615,000.

Though the results were a huge surprise, it’s no surprise that The Block would garner such interest from buyers. The South Yarra location demands premium prices and is in good proximity to the CBD and Melbourne’s Royal Botanical Gardens. The fact the east-facing townhouses were highly publicised through the highly rated show also helped their desirability to buyers.

Here’s a roundup of the auctions:

1. Deanne and Darren
   4/27 Darling Street
   Price: $2.29 million
   Reserve: $1,455,000
   Winnings: $835,000 plus $100,000 prize
2. Charlotte and Josh
   1/27 Darling Street
   Price: $2.2 million
   Reserve: $1.39 million
   Winnings: $810,000
3. Tim and Anastasia
   2/27 Darling Street
   Price: $2,175,000
   Reserve: $1.42 million
   Winnings: $755,000
4. Jess and Ayden
   3/27 Darling Street
   Price: $2 million
   Reserve: $1,335,000
   Winnings: $665,000

To watch the auctions, click here.