Multimillion-dollar price guides revealed for The Block homes as local market cools

The price guides for the five homes on The Block's 2026 season in Mount Eliza have been revealed, with each property seeking more than twice the median sale price for the suburb.With tools down and filming wrapped up for The Block's 2026 season, contestants now face a nervous wait ahead of their spring auction as property prices continue to cool across Melbourne.The five brand new homes sit in Mount Eliza, a coastal suburb on Victoria’s Mornington Peninsula around an hour south of the Melbourne CBD. PropTrack data shows the suburb's median house price was $1.74 million over the 12 months to July.But newly released price guides show each property is seeking more than twice that figure come auction day, with all five homes listed with a price guide of between $3.6-3.9 million.See every room reveal from The Block Mount Eliza.Production team "receptive" to cooling conditionsLast year’s disastrous auction result in regional Daylesford saw two homes fail to sell under the hammer, which was largely blamed on the "unrealistic" $2.99 million reserve prices.This season of The Block is set in Mount Eliza on Victoria's Mornington Peninsula. Picture: Channel 9/9NowMcEwing Partners director Quen...