Real estate agents are still struggling to find buyers for two of The Block homes which were passed in during this season’s disastrous auction back in October.
The remaining properties, Han and Can’s House 2 and Emma and Ben’s House 1, are both languishing on the market, with identical price guides of $3 million to $3.3 million.
The sales agent responsible for Han and Can’s four-bedroom property says the original $2.99 million reserve price was ‘overly ambitious’.
‘The price is now above what the reserve was, so there are challenges within that…but we’re still taking people through and still getting enquiries,’ Natalie Fagan of Belle Property Daylesford told News this week.
Han and Can’s property was passed in after attracting no bids at all.
Interest in Emma and Ben’s four-bedroom home stalled during auction day at $2.920 million, ultimately attracting a vendor bid of $3.1 million before being passed in.
Two of The Block’s luxury homes in Daylesford are still struggling to find buyers after being passed in during this season’s disastrous auction in October. A local real estate said the original reserve of $2.99million was ‘overly ambitious’. Pictured: Han and Can
Han and Can’s House 2 is languishing on the market in Daylesford with a price guide of $3million to $3.3millon – thousands more than the reserve. (Pictured)
Now 311 days since The Block auction, the teams could be in for a long wait for their properties to sell.
Daylesford’s market is sluggish and properties can sit unloved on sales listings for months.
According to PropTrack, it typically takes 139 days before a home in the tiny rural getaway is sold.
It comes after the real estate agent who handled Han and Can’s dismal auction weighed in on The Block’s shock finale.
Auctioneer David Holmes believes the prices for the homes were too high for the area, where the median house price is $800,000.
The three properties that succeeded in finding buyers all had underwhelming sales and Emma and Ben watched in horror as their home was passed in.
Holmes, who has been involved with 10,000 auctions, told realestate.com that another challenge for The Block 2025 was the location.
Emma and Ben also had their home passed in during The Block auction. (Pictured)
Emma and Ben’s House 1, has an identical price guides of $3million to $3.3millon as Han and Can. Both pads have been on the sluggish Daylesford market for 311 days. (Pictured)
Daylesford, 114 km from Melbourne, has a population of 3,000, and high-priced auctions are unknown in an area dominated by ‘mum and dad’ buyers.
‘I really feel as though the supply-and-demand scenario wasn’t looked at as efficiently or as accurately as it should have been,’ he said.
‘You are looking at five properties that they’re asking essentially $3 million to $3.5 million in a market where $2.7 million is a really high price for a very stunning architectural home.’
He added that for those prices, buyers could find a similar luxury pad in Byron Bay or the Yarra Valley.
Holmes said that the couple have hopes of finding an investor who wants to open an Airbnb in the area.
WA couple Britt and Taz took out the top sale of during The Block finale.
The couple offloaded their stylish home for an impressive $3.41 million, and scored the $100,000 bonus prize, netting them a profit of $520,000.
