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The Block buyer's major move as production kicks off on season 20
Danny Wallis has a surprising plan with his Block property portfolio.
He’s spent more than $30 million purchasing 11 properties on The Block over the years, but fans shouldn’t expect Danny Wallis to buy any houses on the upcoming twentieth season of the reality show.
The IT entrepreneur has announced he plans on selling all of his investment properties in Victoria, beginning with the St Kilda house he purchased on the show in 2019.
He told the Herald Sun that a state government plan to change the land tax payment threshold from January 2024 was his main motivation behind selling his Victorian property portfolio.
The new changes, which were introduced under former Premier Daniel Andrews, will mean homeowners will pay land tax if their investment or secondary property is worth $50,000 or more. The current threshold is $300,000.
“I’m saving on Daniel Andrew’s land tax, I’m going to sell because I’m sick of the land tax going up and up and up,” Danny said. “I’m going to move all my investments out of Victoria.”
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Danny, who didn’t purchase any properties in last month’s Block auction, went on to say that he plans on investing interstate in the future.
“It’s dumb there’s a rental crisis and I’ve got to sell when so many people are looking for homes,” he continued. “I know so many landlords who are selling because of the land tax.”
Danny's brutal comment about the season 19 houses
Danny purchased three homes during last year’s season of The Block in Gisborne, including winners Omar and Oz’s property for a whopping $5.6 million.
He surprised viewers this year, however, when he left the auctions empty-handed after being outbid by Adrian Portelli on Houses 4 and 5.
Danny told reporters following the auctions that he believed Steph and Gian's House 4 and Eliza and Liberty's House 5 sold for “too much”, with the properties selling for $5,000,000 and $4,300,000, respectively.
When asked why he didn't go harder to buy any of the properties, Danny had a surprising response, telling Domain, “They're junk”.
“[They’re] high maintenance for investment properties, which is what we have to consider,” his sister added.
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Meanwhile, production on The Block’s milestone twentieth season kicked off last month on Phillip Island, located 90 minutes south of Melbourne.
The show was originally set to take place in the country Victorian town of Daylesford but was forced to relocate in September due to permit issues and complaints from locals.
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