The Block NZ: Redemption winners Chloe Hes and Ben Speedy say they knew the housing market wasn't looking great when they signed up to take part in the show.
The pair were declared winners after a tough auction for all contestants' properties in Orewa, north of Auckland.
Despite three months of hard work, and winning several room reveals, the Auckland friends only managed to sell their house for $4000 over the reserve price of $1,141,000, finally selling for $1,145,000.
Fellow competitors Maree and James Steele were the only others to have sold on the night - but they made just $100 over their reserve.
Chloe and Ben's profit is the lowest win in the show's 10 year history.
Quinn and Ben's home was marketed with a reserve of $1,199,000, but didn't sell on the night. Neither did Stacy and Adam's house which was put on the market with a reserve of $1,148,000.
Both homes have since sold for undisclosed sums.
Hes told AM hosts Ryan Bridge and Melissa Chan-Green they knew exactly what they were getting involved with.
"We were well aware when we signed up that the market wasn't looking great, [and we thought] whatever happens, happens. The day of auction, I was prepared for our house not to sell," she said.
"The Block itself is such a fun experience, the three months you hang out with friends, the crew, and getting involved in a different industry and all of that stuff," Speedy said.
"And spending money that's not yours!" Hes added.
When asked what they'd be doing with their $104,000 winnings, Hes said she would be using some of it for a move to Tauranga.
Whereas Speedy revealed he would be a bit more cautious with his money this time around.
"I spent my last one overseas, so I spent it; this time I'm going to try and be a little bit more sensible about it. Sit on it for a bit - I'm probably going to spend it all," he said, laughing.
The low sale prices of the houses after 12 weeks shocked many on social media, with comments it probably wasn't the best time to launch a Block NZ series as inflation and cost-of-living both continued to rise
.
Earlier this month, property research firm CoreLogic warned the downturn in the housing market is unlikely to end any time soon.
The property research firm's House Price Index, which measures changing values, shows prices fell 1.5 percent over September, compared with a 1.8 percent fall in August.
Annual house price growth slowed from 9.5 percent in August to 2.8 percent in September, with the average value at $977,158.
Both Hes and Speedy urged any would-be investors looking at entering the housing market currently, or looking to renovate and flip properties to be cautious.
"Have fun with it and just pray, hope it goes well. Either sit on it, or just pray," Speedy said.
