Tonight’s Block Auctions will take place on a day that will see 1700 properties go under the hammer in Melbourne. The big question is - will there be enough interested buyers to see every Regent Street property walk away with a good result?
“Well, I guess that’s the unknown,” Georgia tells Insider Style. “And that’s why we’re all nervous. I think we will sell. But I am just not sure if we will make any money.”
It’s a concern shared by all other contestants - especially Hannah and Clint, who lagged behind in terms of room wins.
“I’m wavering between being sick and excited,” Clint admits. “I don’t know which one to be.”
Unlike Josh and Elyse, who have been told by their agent there are at least five interested buyers willing to go head-to-head for their property, the Mum and Dad couple from Victoria aren’t sure there will be enough left over willing to fork out the cash for their home.
“No one just rocks up on auction day without us knowing about it,” he says, expressing doubt. “I’m really worried.”
Jason and Sarah admit they are similarly concerned, but have had fairly positive feedback from their agents ahead of today’s big auction.
“There are lots of people who are interested. But serious bidders are few and far between for most people,” he admitted. “Yesterday afternoon we had twelve. And this morning, Jeremy our agent, told me there had been quite a few more.
“But those twelve aren’t just for us - they may be for everyone,” Sarah points out. “So it’s hard to know who is really serious about buying your house.”
One things for sure - auction order is going to play a big part. Domain Group chief data scientist Nicola Powell will advise the contestants on what they should consider when deciding auction order.
“My suggestion is that the strongest home goes first so they have the biggest buyer pool,” she told Domain
“They create fierce competition and that fierce competition should result in a much higher price, and what that does is set the benchmark for the rest of the homes.”
Josh and Elyse, who have had the most interest in their home from potential buyers, have said they are happy to go first if that means everyone will benefit.
“Everyone has done so much hard work, and stress and no sleep - so everyone needs to have a great result today.
“We would be happy to go first.”