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Skip to content.Contact Support 1300 799 109 Allhomes Commercial Real Estate Navigation Log inAccount Log in * Find a Property * Research * Find Agents * For Owners * Home Loans * News * Commercial * Home * News * National * What are The Block houses really worth? In the real world, about $2 million less * Find a Property * Buy * Rent * House & Land * New Homes * Rural * Share * Search by school * Research Property Market Insights * Property Price Estimates * Suburb Profiles * Property Market Analysis * Auction Results * Sold Properties * Find Affordable Suburbs Guides * Advice * Buying * Investing * Renting * Find Agents * For Owners * My Properties * Sell * Home Loans * Refinance Online * Explore Home Loans * Repayment Calculator * Stamp Duty Calculator * Refinance Savings Calculator * Equity Calculator * Borrowing Power Calculator * Fixed Rate Expiry Calculator * News * Property News * Money & Markets * Living * Domain Review * Commercial By Ellen Lutton November 9, 2023 FacebookTwitterPinterestCopy link Fans reflect on 20 years of The Block The Block fans lined up in droves to inspect the Charming Street properties. Video Player is loading. Play Video PlayNext playlist item Unmute Current Time 0:00 / Duration 1:38 Loaded: 10.02% 0:00 Stream Type LIVE Seek to live, currently behind liveLIVE Remaining Time -1:38 1x Playback Rate Chapters * Chapters Descriptions * descriptions off, selected Subtitles * subtitles settings, opens subtitles settings dialog * subtitles off, selected Audio Track * en (Main), selected Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaque Font Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall Caps Reset restore all settings to the default valuesDone Close Modal Dialog End of dialog window. Close Modal Dialog This is a modal window. This modal can be closed by pressing the Escape key or activating the close button. 1. WHAT ARE THE BLOCK HOUSES REALLY WORTH? IN THE REAL WORLD, ABOUT $2 MILLION LESS By Ellen Lutton November 9, 2023 FacebookTwitterPinterestCopy link Last weekend’s auctions on The Block produced some spectacularly disparate results. Steph and Gian won the series, pocketing a history-making $1.75 million, when their house sold for $5 million. Eliza and Liberty of House 5 made $1.05 million and Kyle and Leslie, of House 1, sold for $130,000 over their reserve. But Kristy and Brett of House 3 walked away with a comparatively meagre $60,000 and, even worse, Leah and Ash of House 2 walked away with nothing on the day. Their house clocked just one bid of $2.9 million before they made the decision to pass it in. A deal on their place is expected to be inked this week. While these dramatic results make for great reality TV, they’re also … not very realistic. Does it really cost $5 million to buy a house in Hampton East, a suburb 14 kilometres south-east of Melbourne’s city centre? The Block 2023 made great TV but how realistic are the house prices? Photo: Nine Did Adrian Portelli pay too much for Houses 4 and 5? Did Kristy and Brett sell for way too little? Did the House 3 buyers snag an absolute bargain before skipping off to Derby Day in a helicopter? On an ordinary Saturday in Melbourne, every single one of these houses would have sold for significantly less than what has been paid for them, according to the agents involved in The Block. Aaron Hill of Ray White Sunbury sold Steph and Gian’s winning home. It had been a fan favourite all along but it also had the largest number of registered bidders on the day. Even still, he said it would “probably” be worth up to $3 million in a normal market. Related articles * Who was The Block’s mystery bidder in all white who bought House 3, then left in a chopper to go to Derby Day? * 'They're junk': The 5 biggest shocks of The Block 2023 auctions * Danny Wallis’ bidding mistake on The Block: What didn’t make the TV edit of the auction finale * Adrian Portelli explains his strategy in buying three out of five houses on this season of The Block * The Block: All the houses that failed to sell on auction night 20 Charming Street, Hampton East VIC 3188 5 Beds4 Baths3 Parking View listing “The Block properties are always overpriced on the day; they always have been,” he said. “A house around the corner had previously sold for $3.015 million – that was the suburb record.” Nick Renna of Jellis Craig sold Eliza and Liberty’s house, which went for $4.3 million on the day. GET THE BEST PROPERTY NEWS AND ADVICE DELIVERED STRAIGHT TO YOUR INBOX. Become a member Check out our Privacy policy. “Would these houses have sold for these prices in the ordinary market? Not a chance,” he said. “First of all, in a regular Melbourne auction market, billionaires are not typically bidding against mum-and-dad investors. It’s very different circumstances. “House 5 might have fetched $3 million, maybe, but even that price would’ve been an incredible campaign result.” Billionaires like Adrian Portelli aren't part of the usual fray of suburban Melbourne house hunters who turn up to bid against owner-occupiers and mum-and-dad investors. Photo: Nine Michael Townsend of McGrath St Kilda sold Kyle and Leslie’s house. It went for $3.1 million but, he said, in a normal market it would have fetched $2.6 million. “If you’re running around with $3 million or $3.5 million pre-approval and going to buy somewhere, bayside, you are not spending that in Charming Street, Hampton East,” he said. “You might spend $2.5 million there. Maybe. And you’d have to have some emotional connection to the location because it’s considered a B-grade location.” Townsend said ordinarily, a result in the mid-$2 millions would be a champagne-popping moment, adding that any vendor who got $130,000 over their reserve was “newsworthy”. “I know it was difficult for Kyle and Leslie on the day because they had just watched their neighbours get millions more,” he said. “But they’re happy. They’re happy with the result and what they won, and the fact is, the price they got is a significant and great result.” AuctionsDataHouse PricesThe BlockThe Block Contestants FacebookTwitterPinterestCopy link WE RECOMMEND BRISBANE HOME WITH CLASSIC CHARM SELLS TO AN INTERSTATE PHONE BIDDER FOR $1.93 MILLION RBA LIFTS THE CASH RATE TO 4.35 PER CENT TO CURB INFLATION EXCLUSIVE PENTHOUSES OFFER FRONT-ROW SEATS TO AUSTRALIA’S BIGGEST ICONS YOUR OFFICE COULD DOUBLE AS A DATA CENTRE – WITH FREE HOT WATER DEXUS TAPS DU VERNET TO REPLACE LONG-SERVING CEO RECOMMENDED FOR YOU COASTAL HOME ON OFFER FOR $1.5 MILLION COMES WITH AN 'UNDERGROUND BAR' EMMA IS SO EXCITED ABOUT HER NEW HOME, SHE CONVINCED HER COUSIN TO BUY IN THE SAME BUILDING WHO HAS IT EASIER? HOW THE PROPERTY MARKET HAS CHANGED FOR FIRST-HOME BUYERS COSTA FAMILY BACKS $120M RAISING FOR RIVERINA ALMOND PROJECT THINGS YOU SHOULD KNOW The information on this website is intended to be of a general nature only and doesn't consider your objectives, financial situation or needs. © Domain Holdings Australia. * Help * Contact * About * Careers * Mobile * Privacy Policy * Go to the Top * Domain Marketing Hub * Agent admin This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. 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