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How to achieve top dollar: lessons from The Block

The Block NZ season five came to a dramatic conclusion last night with a record sale price and profit for the winners.

Monday, August 15th 2016, 3:01PM

by The Landlord

Wellington flatmates Emmett Vallender and Sam Cable’s three bedroom Meadowbank townhouse sold at auction for $1.61m with a profit of $380,000.

This was the biggest profit and most expensive sale price in the history of the popular TV show.

But the other three teams did not do too badly either: they all made at least $150,000 profit on their sales.

This means the four teams successfully converted the 1980s era, ex-leaky homes they were tasked with renovating into top dollar.

In this month’s issue of NZ Property Investor magazine, we look at how you can apply key lessons from The Block to your next renovation.

The Block host and ex-Black Cap Mark Richardson said each year there are key similarities between the teams that have taken home the win.

“Everyone who’s done well on The Block, their ability to project manage has been on an equal footing with their ability to style.

“It comes down to managing cash, not going over budget, which means you can keep your reserve price at auction as low as possible.”

Co-host and Your Home and Garden magazine editor Shelley Ferguson agreed.

But she also said there are two different scenarios in which contestants have achieved the highest profit at auction.

“The first is somebody delivering a house that is really, really creative and very high-end in design. There is a pocket of buyers who are prepared to buy into that look and that lifestyle.”

The second approach is a more neutral one that appeals to a broader range of buyers, she said.

To find out further details, click here to get the digital issue of NZ Property Investor magazine.

The article also features The Block judge Fiona McLeod’s top design tips on renovation to sell pus hot renovation tips from The Block season five contestants

Subscribe to NZ Property Investor magazine here to get great stories like this delivered to your mailbox every month.

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ANZ 5.54 5.15 5.85 6.15
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BNZ - TotalMoney 5.55 - - -
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China Construction Bank 5.50 5.40 6.14 6.40
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Heartland Bank - Online 4.00 3.85 4.70 4.84
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HSBC Premier 5.49 4.39 5.15 5.39
HSBC Premier LVR > 80% - - - -
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HSBC Special - - - -
ICBC 5.25 ▲4.29 ▲5.09 ▲5.35
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Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 5.00 5.55 6.19 6.39
Kiwibank - Offset 5.00 - - -
Kiwibank Special 5.00 4.55 5.19 5.39
Liberty 4.84 - - -
Nelson Building Society 5.95 4.95 5.85 -
Pepper Essential 3.44 - - -
Resimac 4.59 5.60 6.16 6.29
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SBS Bank 5.29 4.69 5.35 5.49
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The Co-operative Bank - Owner Occ 5.45 ▲4.29 5.19 5.45
The Co-operative Bank - Standard 5.45 ▲4.79 5.69 5.95
TSB Bank 5.59 ▼5.14 6.05 6.15
TSB Special 4.79 ▼4.34 5.25 5.35
Unity 5.65 ▲4.80 ▲5.50 -
Wairarapa Building Society 5.24 4.55 5.20 -
Westpac 5.54 5.09 5.79 6.09
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