Steve and Chantelle's auctioneer David Wood on The Block's record breaking win

Renovation first timers Steve and Chantelle surprised Australia when they were revealed last night as the winners of The Block: Fans v Faves. Property Observer spoke to auctioneer David Wood, who secured a $2.47 million sale price for the couple.

The Geelong chimney sweep and milliner attracted the highest ever price above reserve on the series. They are also the first Victorian team to ever with The Block, a factor Wood said is not lost on the Victoria-based hockingstuart team.

“We’ve helped them sell a property before, some years ago,” said Wood. “So to be involved with them now, and to be able to create this result with them, is a great outcome.”

The first item of the Tuesday afternoon auction was to decide on the order of sale, a decision Wood believes played into the final result.

“We’re thrilled with the win, and to set a record price for The Block.”

“It was determined that we were going to go last,” said Wood, director of hockingstuart Albert Park. “We had substantial interest in the home, so we weren’t afraid to go last.  There were two buyers in particular who had come through before the auction and were very interested in the apartment.

“I think its value was probably underpinned by the previous sales. It was quick to start, and to start at a level that was already pre-determined by the other sales, rather than having to go through a slower start.”

As for hockingstuart’s strategy for the sale, Wood said that the team applied the same fundamentals to selling the underdogs’ apartment as they would for any other property.

“A well conducted auction can play a huge role in maximising price gains,” said Wood. “It’s all about timing – if you go too slow or too fast for someone, you can throw them off the scent.

“As for the marketing, we applied the same approach marketing their property as we would with any other property.

“I think it’s fair to say we came from behind; we were coming last at the turn. We really had to rally the troops and do everything we could to ensure that every potential buyer was covered.

“We took it offshore with a couple of Chinese websites that generated a lot of interest, in addition to going to local markets.”

In the end, the property went to a young local couple. The family had been seeking a property in the area for some time, in what Wood said has been a strong year for the local market, with the last sale of a comparable residence in the village attracting $2.6 million.

As for the chances of a repeat performance, Wood said that he would go back to The Block again if the opportunity arose.

“We’d be delighted to,” said Wood. “We’re thrilled with the win, and to set a record price for The Block.”

For our full coverage of The Block: Fans v Faves, click below

Substance over style as Chantelle and Steve win The Block 2014 Fans V Faves

On the auction Block: Our faves for the finale

Kyal Demmrich on the trials and triumphs of The Block

The Block on show at this weekend's open for inspection 

Open for inspection: The Block Fans v Faves doors open to the public this weekend

Raw timber and red brick: Industrial design on The Block

Art styles for apartment décor: Lessons from The Block

Creating the perfect New York style loft: Lessons from The Block