The market is the market.

The market is the market.

No doubt many of you have tuned in to watch The Block over the past few months to watch the progress of the four houses in Richmond which had been purchased by Channel 9 and renovated by four couples.

On the weekend all four were auctioned. With massive press, loads of TV coverage and some of Melbourne’s best Estate Agencies involved, only one of the four sold under the hammer. Welcome to reality. As of today, all four houses have now sold.

Whilst this clearly demonstrates the state of the current market, it also shows us that auctions aren’t simply about what happens under the hammer. An auction campaign creates excitement, sets a deadline and hopefully a deal.

Many of the auction clearances reported each weekend are actually sold prior or sometimes after – showing that there were some negotiations post auction.

If anything, The Block showed exactly what’s happening in

at the right price.

See you in Our Backyard.

Aireys Inlet Real Estate Agent James Worssam

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