DIY price estimates for The Renovators' six offerings

DIY price estimates for The Renovators' six offerings
DIY price estimates for The Renovators' six offerings

The renovated 1960s suburban at 15 Anthony Road, Castle Hill, is no longer stuck in a timewarp.

And its upcoming September auction will give some guidance on the future direction of the Sydney market.

Having been listed with low $600,000 expectations in January this year, it cost $607,500 when bought by the producers of the latest renovation television series, The Renovators.

The four-bedroom house sits on the largest land holding in the series of 765 square metres.

It had last been marketed through LJ Hooker with the suggested “Renovate or Detonate!” LJ Hooker suggested the new owner to possibly build a duplex.

The ensuing single-storey house renovation over the past three months had a budget of $126,000, thereby requiring $760,000 to break even, after including conveyancing costs. It has been listed by Martin Baldacchino at Century 21 The Complete Real Estate Castle Hill.

It’s been the most actively traded of the show’s six offerings and amply highlights the ups, down and plateaus of Sydney’s property market over the decades.

It had previously sold at $460,000 in 2006; when the then vendors tried without luck to secure $549,000 having bought in boomtime 2003 at $520,000.

In 1994 it fetched $213,500 and four years earlier in 1990 it was sold at $205,000.

The Century 21 estate agents selling the six Sydney homes featured in the realty series The Renovators have been instructed not to issue price guidance.

And unlike The Block a request by Property Observer failed to secure any depreciation reports for the renovated properties, which will be sold with furniture.

The six were bought by the series producers for a $3.3 million total between December 2010 and March this year. The renovation budgets totalled at least $740,000.

The cheapest acquisition was the $299,500 fibro cottage at 85 Harold Street, Blacktown, which now has expansive outdoor living areas and modern indoor features. Its renovation budget was $62,000. It had previously traded at $270,000 in 2006 and had been listed with a $329,950 four months before its sale to the television series company. It’s been listed by Penny Stylianou at Century 21 John Ross Combined.

The weatherboard, at 51 Franklin Street, Parramatta, was next cheapest at $460,500. It is now a modern family home with three bedrooms, two bathrooms with an entertaining space and backyard area. It had been marketed for December 18  2010 auction by LJ Hooker as “not listed as heritage by Holroyd Council.” Its renovation budget was $95,000.

The inner-city terrace, at 12 Hegarty Street, Glebe, cost the dearest price at $720,000 and also sits on the smallest block of just 89 square metres. It is now a renovated 1890s three-bedroom, two-bathroom property featuring open-plan living. It was bought just a week after coming onto the market through Belle agent Mark Tooth and James Cahill in late January this year. It has been listed through Thomas Skelly at Century 21  Cordeau Marshall. The renovation budget was $150,000. 

“This property is to be sold at auction and I have been instructed to get market feedback from all genuine buyers who attend our open house inspections, so that a very realistic reserve price can be set for the auction day,” Skelly says.

After costing $572,000 in March, the shop, at 146 Addison Road, Marrickville has been transformed into a three-bedroom, one-bathroom abode. It had previously sold at $68,000 in 1985. Its renovation budget was $119,000.

After costing $642,500, the half-done house at 5 Frederick Street, St Peters, has an Edwardian facade with modern home behind it. Its renovation budget was $134,000.

Louisa Gatto, its Century 21 Natoli Real Estate listing agent, says our instructions are that the property will be sold at auction.

“We aren’t giving a price guide on this property as there are no recent sales in the area that are comparable.

“The home is unique in design and will be sold fully furnished with quality inclusions,” she says.

Price guides were provided by agents marketing the properties featured on the Channel 9 series The Block, along with depreciation reports.

For expert commentary and analysis on lessons to be learnt from property reality TV, download our e-book Lights, Camera, Auction!

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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