Dave Hughes reveals the staggering amount of money the house he bought on The Block is worth now

Dave Hughes has revealed the staggering amount of money the house he bought in an auction on The Block is worth now.

The co-host of 2Day FM’s Hughesy, Ed and Erin show bought the house back in 2017 when Josh Barker and Elyse Knowles renovated the property in Elsternwick Victoria on the Channel 9 reality show.

At the time, he paid $3.067 million for the stunning five-bedroom home, which was $447,000 above the reserve set by Channel 9.

Now, he’s made the astonishing admission live on-air about its estimated worth, after his co-host, Erin Molan, read out a realestate.com.au article stating which houses have flopped and which have been money-makers since the show aired.

Erin read out that the house is currently being valued by realestate.com.au at $3.4 million.

“Well that’s not right, that would put me at a loss wouldn't it,” Dave said pointing out that with inflation and stamp duty, the estimate should be higher.

The comedian said he got an offer for ‘a lot more than that’ with Erin pushing him for an answer on exactly how much more.

“Was it less than $5 million?,” she asked, with Dave replying: “Similar to that”.

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Back in 2017, Josh Barker and Elyse Knowles won the season of the renovation show, taking home an incredible profit of $447,000 — along with the $100,000 prize money.

Their celebrity bidder’s wife, Holly, was left ‘mortified’ after Dave went public with his purchase, telling her husband’s co-host at the time, Kate Langbroek, on their KIIS show that she didn’t think he would actually buy the home.

"The only thing I asked was, 'If you are going to bid can you please just do it through an advocate so we can keep it private', she said.

"I didn't think he'd end up buying it either."

Speaking to TV WEEK after purchasing the property, Dave said he planned to use the home as an investment property and rent it out to ‘a corporate renter', but that he 'might enjoy it for a little while’ first.

Indeed, that’s exactly what he did and in 2020, the house was listed for rent at a whopping $2,000 per week.

Whoever rented the house had to lodge a $10,000 bond to secure the home, which was fully furnished.

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