The dream of a quick sale has turned into a prolonged wait for two of The Block’s meticulously renovated Daylesford properties, which remain on the market seven weeks after their highly anticipated auctions.
As the real estate market gears up for its traditional holiday slowdown, industry experts are casting doubt on whether House 1 and House 2 will secure buyers before the year’s end.
Both properties were passed in at auction on vendor bids of $3.1 million, with Channel 9 holding out for higher offers in private negotiations.
However, nearly two months on, both 5 Cedar Lane (Ben and Emma’s property) and 4 Cedar Lane (Han and Can’s property) are still listed with an indicative asking price of $3.1 million, a figure proving challenging to achieve in the current market.
RELATED: The Block stars Emma and Ben forced to sell dream home after auction failure
Emma and Ben Cox transformed their Daylesford home into a warm, mid-century-inspired retreat – complete with a moody underground wine cellar. Picture: Channel 9
Unfortunately it wasn’t enough to sell it at auction.
The situation highlights a growing concern in regional high-end real estate, particularly in areas like Daylesford, where a surge of premium properties can lead to market saturation. PropTrack data reveals that the typical Daylesford house spends a significant 139 days awaiting a buyer, with local agents acknowledging that some homes can take up to nine months to sell.
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Ben and Emma, whose mid-century-meets-country design at 5 Cedar Lane earned praise for its “beautiful adult retreat” wine cellar and native landscaping, expressed their disappointment following the auction.
“It was extremely disappointing to have our home not sell on auction day,” they admitted.
“It definitely wasn’t the fairytale ending we had dreamt of.”
The couple’s financial pressures are further underscored by their decision to list their own “dream home” in Mornington, a four-bedroom, two-bathroom Hamptons-inspired residence, for $1.75 million to $1.925 million.
The couple are also selling their family home.
“Our plan was to see how we go on The Block and if we made any money on the show, we would have loved to have stayed living there,” they explained.
“However, we are still in limbo with The Block house, so we thought best to sell it and move on. Sad.”
The high reserve prices set by Channel 9 at $2.99 million for all five homes were a point of contention among contestants and market observers alike.
While three properties did sell under the hammer – including Britt and Taz’s winning home, which secured a $420,000 profit – the overall prize pool of $749,999 was the smallest since the 2011 season, reflecting the tighter market conditions.
The Block auctioneer David Holmes and contestants Han and Can.
Their stunning home is also still looking for buyers.
For Han and Can’s House 2, located at 4 Cedar Lane, the struggle to meet buyer interest above the $2.99 million mark mirrors the broader challenge of selling high-value properties in a competitive environment.
Bell Property Daylesford selling agent Natalie Fagan – who is facilitating the sale of Fan and Can’s house – said The Block‘s reserve prices on auction day were “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 inquiries,” she said.
With the holiday period traditionally seeing a dip in buyer activity, the prospect of these Block homes finding new owners before the new year appears increasingly slim, leaving their future uncertain.
English (US) · 