PHOTO: The Block 2020: The contestants on day one. Photo: Channel Nine
The five houses renovated on this year’s The Block are set to go to auction in some of the toughest conditions seen on the show yet, but experts say their location in the ritzy Melbourne suburb of Brighton will attract buyers, pandemic or no pandemic.
Melbourne’s housing market has effectively paused during the stage four lockdown, with agents unable to show buyers through properties even at private inspections, as was allowed during stage three restrictions. Any inspections and auctions are online-only.
But buyers and sellers were set to become more active in the market once stage four restrictions ended in mid-September, Domain senior research analyst Nicola Powell said, placing properties on the reality renovation show in a promising position to sell.
“That doesn’t necessarily mean we are going to see prices achieving record highs, but we will certainly see more buyers coming back into the market,” Dr Powell said.
Homes renovated on past seasons of the show had sold in sluggish housing markets, she said, many exceeding price expectations.
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