Smallest mortgage rests with Amy and Sean, the Nundah renovation rookies in House Rules, Brisbane Queensland
Amy and Sean, the renovation rookies paid $365,000 for their Brisbane home which is being renovated this week on the Channel 7 series, House Rules.
And their mortgage has been revealed as just $300,000, the smallest among the five competition couples, with NSW yet to be advised.
The previous smallest mortgage was Jane and Plinio in Hobart who paid $355,000 and have a $315,000 mortgage or prize at stake in the Channel 7 home renovation stress series.
The Hobart buyers had the cheapest house in the series hosted by Johanna Griggs.
The 1960 Nundah, Brisband three bedroom house on a 405 square metre block sold through Go Gecko estate agent Renee Rennie in June last year.
It has 90 square metres of space.
Set nine kilometres from the Brisbane CBD, it was listed with $350,000 plus hopes. It sold within nine days of its initial marketing with the title held in Sean's name.
RP Data gives the suburb's median house price as $585,000, having gone up 6.8% over the past year.
Property Observer reported this week that renovation delights are all the go in Brisbane this year.
The state-versus-state renovation series, from the makers of My Kitchen Rules, delivers exiting true home renovations.
The six contestant couples have put their entire home on the line promising an emotional return to their new homes after the seven-day renovation.
The teams have to work independently on their own zone within each house but they also have to work as a team to ensure each room complements the other when it's completed. The prize is having their mortgage wiped completely.
Michelle & Steve (Collaroy Plateau, New South Wales)
Carly & Leighton (Warradale, South Australia)
Jemma & Ben (Melville, Western Australia)
Jane & Plinio (New Town, Tasmania)
Nick and Chris (Preston, Victoria)
Each of the six House Rules teams hand over the keys to their homes and allow their competitors free reign to transform their house, so the host Johanna Griggs expects lots of passion and pride in the way teams tackle the renovations.
"It's a bunch of likeable Australians with amazing back stories," Griggs said.
The highest mortgage, and therefore potential prize, is the $545,000 mortgage of the Perth newlyweds Jemma Blenkinsop, who runs a spray-tan business and builder, Ben Van Ryt.
They were first-home buyers in late 2011, but with the Perth property market the way it is, they couldn't afford to renovate their 1950s Melville home that cost $555,000.
Adelaide's Carly and Leighton have a $450,000 mortgage secured to buy a 1957 sandstone house in Warradale.
The South Australian couple actually paid $450,000 for the house which had been listed with $485,000 hopes in May 2012.
Nick and Chris, the Channel 7 Melbourne House Rules brothers bought their Californian bungalow in Preston for $555,000 last August.
It comes with a mortgage of $524,ooo which will be wiped off the 1930s bungalow which went to July 2012 Ray White auction without success, subsequently being listed at $580,000.
