The Block 2018: Tips for this year’s contestants from David Wood, the winning auctioneer from 2017
As a fourth generation real estate agent, selling properties is in David Wood’s blood. But it’s his vast experience and knowledge of Melbourne property that makes him an impressive auctioneer.
David has been requested by the contestants seven times to conduct the auction on the popular TV series, The Block, with his efforts for Josh and Elyse in 2017 helping them secure the win and an additional $447,000 over the reserve price.
With the new season hitting our screens this weekend, we checked in with David to chat all things The Block.
What do you think makes a winning property on The Block?
DW: The choices they make around the finishes are really important. Paint colours, bathroom tiles, bathroom taps, and lighting – these things can all have a huge influence on the outcome. It’s essential that the home is finished well and that they have good attention to detail to help them stand out from the other apartments on offer on the day.
The choices they make in regards to the room configuration can also have a huge impact come auction day – one mistake when altering rooms can run the risk of having the market reject it like we saw with one of the houses in 2017.
What have you learned on The Block?
DW: Consistency of style throughout the home is crucial. When you have a home or apartment where the rooms all feel very different (in terms of colour and styling) it stops everything from coming together in the end, which ultimately makes the market turn its back.
Any advice for potential investors?
We’ve seen that potential investors shouldn’t shy away from properties transformed on The Block – there can be enormous depreciation schedules attached to them due to the nature of the improvements and construction. In addition, the fixtures and furnishings can add up to a substantial tax depreciation benefit for investors. They spend a fortune on the works so it could be a sound investment proposition.
The Block 2018 premieres on Sunday 5th August at 7pm on Channel 9.
View Kerrie & Spence's apartment: www.domain.com.au/1-34-fitzroy-street-st-kilda-vic-3182-2014552025