The Block auctions kick off tonight

Reporter·NZ Herald·

6 Dec, 2015 12:06 AM3 mins to read

Cat and Jeremy's house for The Block. Photo / Supplied

The houses of The Block NZ go under the hammer tonight with the reserve prices likely to be set over $1million - a leading real estate agent believes.

The relocated and fully renovated villas on the corner of Haig and Renfrew Avenues in Sandringham will be auctioned on live television tonight through real estate agency Bayleys.

Anne Duncan of Anne Duncan Real Estate said recent local sales and the extent of renovation on The Block houses would see a reserve prices start around $1.1 million.

The houses come fully furnished with high-end appliances, sweetening the deal.

"Even though the properties on The Block are small I think they will sell for around $1.1," Duncan said.

A neighbouring property just sold for $1.21 million, which gave a good indication of price.

"That was a four bedroom but the ones on The Block are pretty blingy so I think upwards of $1.1."

Two of the houses sit in the sought after school zone of Mt Albert Grammar. The other two are zoned for Mt Roskill Grammar.

QV statistics show the median sales price over the past two years was higher for Mt Albert Grammar zoned Renfrew Avenue at $1,020,000, than for Mt Roskill zoned Haig Avenue at $972,000.

Despite that, when production company Eyeworks bought The Block sites back in February they paid $1,735,000 for the 773 sqm property on Haig Ave and $1,560,000 for the 728sqm property on Renfrew.

The two sites were then subdivided into the four sites for The Block.

Duncan said school zone was just one factor. Location, sun, section size and house size also drove emotion and prices.

One of the biggest issues, she said, was putting four similar houses up for auction on the same night.

"Some of the buyers are going to be looking at all of them so the first house up gets all the attention and then interest starts dropping off."

"That is what happened in Point Chevalier with The Block houses there."

Andrea Rush from QV said the value ranges listed in The Block adverts on the recent qv.co.nz sales were from $809,000 to $1.2 million.

She said people were drawn to the area because it was close to the central city.

"It also has good motorway access, a nice community, good schools in the area, character homes on good sized sections. It is also close to good cafes, restaurants and shopping centres," she said.

Recent sales, according to QV

•11 Haig Avenue sold for 1,148,000 on June 3, 2015 - a 3 bedroom house of 133 square metres

•25 Haig Ave sold for $1,162,000 in July 2014 - a 3 bedroom house of 116 square metres

•13 Haig Ave sold for $909,000 in December 2014