A house that passed in at auction on reality TV show The Block has sold for $180,000 less than its original reserve price.
Dylan and Jenny’s house from last year’s season of The Block passed in at auction and has sold below the reserve price.
Contestants on the show earn any premium over reserve as prize money – it’s unclear what the auction result means for Dylan and Jenny.A house that passed in at auction on reality TV show225 McGeorge Road, GisborneIt was earlier assigned a reserve price of $4.08 million, the same as each of the other houses on the renovation show, and within their advertised price guides of $4 million to $4.4 million.
Contestants on the renovation show earn any premium achieved when their house is sold at auction as prize money. A Nine spokesperson confirmed the sale, but declined to comment any further about what the result means for Dylan and Jenny.TCC Real Estate Gisborne selling agent Peter Mussared declined to comment on the price but said the new buyer hopes to use the home to entertain their extended family.
Mussared said the market in the area has slowed since the lockdown-era tree-change trend eased and rising interest rates crimped buyer budgets.The Block“With interest rates going up it has slowed down. During COVID, a lot of people made that move sooner, trying to get out of metro to regional because we didn’t have as many lockdowns.”when winners Omar and Oz made $1,586,666.66 in profit above the reserve, the biggest result in the show’s history.
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