Property expert Chris Bellesini believes that the reserve prices for The Block were set too high, and has accused the producers of being ‘out of touch’.
All five houses were set at a reserve price of $4,080,000, and while Omar and Oz made a record $1,586,666.66 profit, Tom and Sarah-Jane walked away with just $20,000.99.
The other three houses were passed in, but Ryan and Rachel negotiated a sale with Danny Wallis on auction night that left them with $169,000.85.
While Sharon and Ankur have recently managed to sell their house to Adrian Portelli resulting in $170,000 profit, Dylan and Jenny still haven’t managed to find a buyer.
The expert told New Idea that none of the homes would have been purchased for such a high price if they hadn’t been shown on national television.
“The properties that did sell at auction were at inflated prices,” he revealed. “Basically you’ve got [serial Block purchaser] Danny Wallis who is there for his ego and TV time, and Adrian Portelli who is also purchasing for the media attention.”
He claims that the two infamous buyers wouldn’t have bought any of the properties or spent that much cash if they weren’t on The Block.
The property guru also adds that he doesn’t think there’s a happy ending when it comes to Dylan and Jenny’s unsold house.
“Unfortunately for Dylan and Jenny, they were the last in the auction line [and] all the buyers were used up. Now they will struggle to sell until the price is adjusted, as no real buyer will spend as much as Adrian and Danny have, it’s just not realistic,” he told the publication.
The couple have listed their five-bedroom, three-bathroom property on Domain with a price guide of over $4 million. However, the real estate website lists the average price of a similar property at just $1.63 million.
“I believe, firstly, that having so many of the same thing in that type of location has been detrimental,” the property expert added. “I believe that the final sold price will be nowhere near reserve, around the high $3 million mark. It just comes down to at what point in time will Channel Nine and the vendors be happy to cut their losses and accept a price well below what they originally wanted?
Photo of The Block homes sparks wild theory
This comes after a fan of the renovation reality series shared a snap of the houses on Reddit, providing a reason why the contestants struggled to sell their properties.
The fan said they posted the photos to give others a glimpse into the layout of the houses in Gisborne, about 50km northwest of Melbourne.
"I could not get my head around it," they wrote.
They pointed out the homes were situated quite close together and lacked privacy.
"Most other big houses in the area seem to have very bushy blocks with a preference towards a heritage style. I could see the appeal of the houses on the hill in terms of the view and the privacy of houses 1 and 2.
"Going past you could really see the factors beyond the contestants' control that made selling all these houses really difficult.”
Commenting on the photos shared to Reddit, other fans said the lack of privacy was an issue, with the mix of heritage homes with modern extensions also jarring for potential buyers.
"It will take a lot of trees and about 10 years before these places hide the shed and get their privacy," one commented.
"They look ridiculous, strapping a modern black cube to the side of a heritage home is just weird," another pointed out.
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