The Block shock: Second auction on same night 'unusual'

Block contestants Levi and Zachary Inglis stand to earn more money through crowdfunding than their house sale. Photo / Supplied

An auctioneer suspects basic economics meant teams on the reality TV show The Block walked away with the lowest profit margin in the show's history.

The teams netted just $65,000 - down more than $900,000 on last year - and one team's home passed in at auction only to return to bidding and win the competition.

Auctioneer and chief judge at the Real Estate Institute auctioneering champs Mark Sumich told NewstalkZB's Larry Williams people held unrealistic expectations of money to be made in the property market.

And if you spent too much on the house you didn't necessarily stand to make on the deal.

"Why do people expect that you can make a profit all the time in the real estate industry?

Sumich, who watched the Block auctions, said although you could auction a property again if it has been passed in, that usually happened some weeks later rather than the same night.

"They chose - the owners in cohorts with the real estate company - to auction it again straight away. It's slightly unusual but probably not unprecedented."

He said at an auction a property returning to bidding would normally happen where the property was adjourned rather than passed in.

The night's results also showed a cooling market with the banks easing up on lending.

"I notice last night those properties were sold without Code Compliance certificates. Normally the banks jump up and down about that so they must have been warranting to provide those prior to settlement because that's unusual without that condition acknowledged."

Meanwhile last place contestants Levi and Zac Inglis have managed to accrue nearly as much money as the second-place getters Stacey Cottrill and Yanita McLeay through crowd funding.

The pair, who walked away with a measly $1000 profit, now stand to pocket $18,455 after a disgruntled fan set up a givealittle page.

It includes a $100 donation by former Black Cap captain Brendon McCullum.

The donated money easily surpassed the money earned by twins Ali and Julia Heaney who finished in third place with a $13,000 profit when their house sold for $1,242,000.

Cottrill and McLeay also has a crowdfunding page set up on their behalf. So far donations sit at $2746. Their Block house sold for $1,271,000 netting them $20,000 profit.