The Block winners Maddy and Charlotte chase $1.32m for flip project in Newcastle

Less than six months after kicking off a planned 13-week renovation in Newcastle, The Block 2024 winners Maddy and Charlotte are approaching the finish line.

The siblings recently completed a whirlwind flip of a three-bedroom, two-bathroom house bought at auction in March for $809,000.

The purchase came after the duo pocketed $1.65 million in prizemoney on last year's season of the Channel Nine reality TV show.

Maddy and Charlotte, the youngest contestants to compete on The Block at 22 and 24, documented the renovation project via a video series on YouTube.

"We're showing people that you can create a beautiful, functional house on a mid-range budget," Maddy told the Newcastle Herald in May.

"You don't have to have travertine and marble everywhere; you can have a beautiful aesthetic and finish, and not break the bank.

"We are passionate about doing a realistic renovation for the everyday Aussie."

The pair set a challenge to complete the renovation in 13 weeks at an estimated cost of $216,000, with hopes of selling at $1.18 million.

As well as sticking to a budget, the pair saved on agent fees by listing the house for sale by owner with Property Now.

According to the latest video covering weeks seven, eight and nine, the budget spending had reached $115,813.

The house at 1 Owen Lane in New Lambton is marked as under offer with a price guide of $1.2 million to $1.32 million, indicating the pair's profit could come out even further ahead.

The project, nicknamed The Challenge House, is the fourth flip Maddy and Charlotte have completed in Newcastle.

They set a challenge to complete the renovation in 13 weeks; however, torrential rain and a trip to Europe delayed the original timeframe.

The house, which the previous owners held for 40 years, is fully renovated inside and out.

The original green colourbond roof, beige weatherboards and brown brick facade were replaced with a fresh, revamped contemporary exterior.

Minor changes to the floor plan included swapping the living room and bedroom.

Inside features a new kitchen with stone benchtops, renovated bathrooms with floor-to-ceiling tiles, sheer curtains and new timber-look floorboards.

"It's been a year now since we were on The Block, and we thought, 'why not give yourselves another challenge?'" Maddy told the Newcastle Herald in May.

"The idea for the series and the heart behind it is that we were struggling to find a property in this market, with renovating and building being so expensive.

"When we did numbers on properties we were looking at, we found that by the time we did the renovation, paid stamp duty, and the interest on our loan, we would actually be going backwards in terms of profit.

"We wondered, 'Can you actually renovate for a profit in this market?' and so we had to change our game plan and be super strategic with the property we bought."

According to Cotality, the median house value in New Lambton is $1.18 million.

Raised in Sydney's Northern Beaches, the sisters purchased their first house in a suburb on the outskirts of Newcastle in 2020.

They saved enough for a deposit by working odd jobs, babysitting, tutoring and taking on shifts at McDonald's.

In 2024, Maddy and Charlotte joined The Block (filmed on Phillip Island in Victoria) after the dramatic departure of fellow contestants Jesse and Paige.

They won the series at the show's grand finale auction after billionaire businessman Adrian Portelli purchased their house for $3.5 million.

The win pocketed the siblings an additional $100,000 in prizemoney and earned the pair the title of The Block's youngest-ever winners.