{"id":44229,"date":"2023-08-17T11:11:26","date_gmt":"2023-08-16T23:11:26","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=44229"},"modified":"2023-08-17T11:11:26","modified_gmt":"2023-08-16T23:11:26","slug":"two-decades-of-the-block-how-did-the-real-estate-landscape-and-property-values-appear-in-2003","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/two-decades-of-the-block-how-did-the-real-estate-landscape-and-property-values-appear-in-2003\/","title":{"rendered":"Two decades of The Block: How did the real estate landscape (and property values) appear in 2003"},"content":{"rendered":"

PHOTO: The Block 2003 winners Fiona Mills and Adam Thorn in Bondi, NSW. Photo: Peter Rae<\/strong><\/p>\n

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It was 2003 when the first episode of\u00a0The Block<\/em>\u00a0aired. John Howard was the long-serving prime minister, Australia\u2019s population was yet to crack the 20 million mark, the Black Eyed Peas were dominating the pop charts and the median house price across the capital cities was $339,670.<\/p>\n<\/div>\n<\/div>\n

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Fast-forward two decades, we\u2019ve been through six prime ministers, our population has ballooned to 26 million and the median price for a house in a major city is $1.02 million. (Oh, and the Black Eyes Peas are still performing \u2013 albeit without Fergie.)<\/p>\n<\/div>\n<\/div>\n

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The Block 2003 winners Fiona Mills and Adam Thorn in Bondi, NSW. Photo: Peter Rae<\/strong><\/em><\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n

In 2003, the inaugural episode of The Block<\/a> made its debut. At that time, Australia was under the leadership of the enduring Prime Minister John Howard, the country’s population had not yet surpassed 20 million, the musical charts were dominated by the Black Eyed Peas, and the median house price across major cities rested at $339,670.<\/p>\n

Fast-forwarding two decades, Australia has witnessed the tenure of six prime ministers, the population has surged to 26 million, and the median price for a house within significant urban centers now stands at $1.02 million. (Interestingly, the Black Eyed Peas continue to perform, albeit without Fergie.) The Australian real estate realm has undergone significant upheavals during these past 20 years, shaped profoundly by the global financial crisis of 2009, followed by an extended period of historically low interest rates, robust population growth, and, of course, the recent pandemic.<\/p>\n

The Block mega-sale<\/a><\/p><\/blockquote>\n