Mal in the hat

Expert tips The Block’s most expensive house – but says he wouldn’t be buying

This article first appeared on Property Observer, Australia’s top site for property investment news and advice.

The projected priciest offering of the four Richmond houses on The Block is 37 Cameron Street, renovated by the hometown couple Jenna and Josh, according to James Buyer Advocates. All four properties go to auction this weekend.

37 Cameron Street (Jenna & Josh)

The buyers’ agency deemed 41 Cameron Street a close second – the one renovated by sisters Katrina and Amie, who chose Hocking Stuart’s Glen Coutinho to sell the house.

The key attribute of the likely top seller is its double-fronted façade. Ruth Roberts of Woodards is quoting the three-bedroom residence at $900,000 to $990,000. Jenna and Josh won the right to choose which of the four houses they wished to renovate.

41 Cameron Street (Katrina & Amie)

The ratings difference between the two was 615 out of 1000 and 595 out of 1000 under the James Buyers Advocates rankings system.

Biggin & Scott sales director Russell Cambridge has marketed the listing for Polly and Waz’s house at 39 Cameron Street, which has a 535 rating.

The lowest ranking of 502 was given to 43 Cameron Street, where Clayton Smith of Jellis Craig represents the contestants Tania and Rod.

39 Cameron Street (Polly & Waz)

“As a bit of fun we rated all The Block properties,” James Buyer Advocates principal Mal James says.

“While all contestants had done some great things, we are not sure we would put any on our shopping list.

“The internals may excite but the externals of no car parking, industrial street and commercial neighbours do not,” James says.

43 Cameron Street (Rod & Tania)

James Home Ratings examines pieces of information about a home and matches them against established buying criteria.

A rating below 550 means the property “has issues.” Between 550 and 650 is at the low end of average. Between 650 and 700 is at the high end of average. Between 700 and 800 is well above average. Between 800 and 850 is the best of its type, and above 850 is a rare gem.

“Nobody can predict with complete certainty the behaviour of each individual buyer or seller in a property exchange – however, it is possible to predict with a high level of certainty how large groups of human beings will react to a home.

“That is, there are a body of facts or truths when systematically analysed that show the operation of general laws with regards to home exchange,” James suggests.

The winner of The Block will be determined by the sale price above its undisclosed reserve, which means all four contestant couples have a chance no matter what rankings buyers agents give their renovated houses.

Channel Nine – THE BLOCK Auction Postscript
Congratulations to Channel Nine and The Block producers and selling agents for keeping it real. They could have made the whole auction night a charade but they didn’t – this is how Melbourne Auctions are right now for B and C grade properties – they are a very difficult sell and that was evidenced with 3 from 4 passing in.

We loved what the contestants did inside, but there was no way we could have bought any of them for investors or OYO’ers with the major negative issues they had outside the wonderful renovations – poor street, industrial neighbors, no car parking. These were mortal blows to the contestants before they even started – position is so important.

Well done to all who participated – it was true reality TV. Our ratings are still up for the Cameron St Richmond properties if you want to Google them. Also, well done to Biggin & Scott and Jellis Craig for their substantial donations to worthy charities.

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