The Block South Yarra apartment falls short of prior auction price

The Block South Yarra apartment falls short of prior auction price
The Block South Yarra apartment falls short of prior auction price

The weekend sale of a former The Block project offering at a loss highlighted the risk of buying under the gaze of the television bright lights.

The 2/1a Affleck St, South Yarra apartment was among 626 homes put to weekend auction in Melbourne, now the adopted home of the soon to return Channel 9 renovation stress series that began in Sydney in 2003.

The whole floor former Hotel Saville apartment — transformed on the Blocktagon last year by Caro and Kingi - sold to owner-occupiers for $1.722 million.

Despite three bidders, the sale price through the Jellis Craig agency was $13,000 less than its $1.735 million price as last November’s televised auction.

Selling agent Nathan Waterson noted it was was sold without its furniture, which he estimated to be worth $150,000.

The vendors had won the apartment in a $2 ticket purchase in the Mater Prize Home lottery.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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The Block Residential Sale

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