Why The Block’s next 18 seasons are unique

With 17 incarnations in front of the rating Jaguar Note blockThe remodeling couple had to carve out a suburban paradise and fight traffic, small spaces and public spotlights.

After Nine recently made fun of “the most difficult challenge on television” For the first time in the history of the show, it was “moving to a new meadow”, but in 2022 it was confirmed that it was heading for a “tree change”.

People going to Bush!

At the time, social media entered the mini meltdown, speculating that it was either Gisborne in the Macedon Mountains of Victoria (55 kilometers north of CBD in Melbourne) or Byron Bay on the north coast of New South Wales. rice field.

Since then, the real estate website domain [of which Nine is the majority owner] Nine’s production company, MicJoy Pty Ltd, has reported that it has “warned” the parcels of 207 McGeorge Road in Gizburn.

The domain said, “Developers have secured plan approval to subdivide the land … Online plans show subdivision of seven parcels in a stream flowing through the site.”

LJ Hooker, who sold 28 hectares of land, “Sold to a popular TV series” advertised on its website block“.

The selling price on September 8 was an astonishing $ 11 million.

Wally Furi, a 12-year agent specializing in land fragmentation, countryside and agriculture, said: New Daily Next series block Located in South Gizburn, it would have “awakened the entire region.”

“Honestly, it has swept the local community. Some people are a little shocked,” he said.

“They want to run the next television series from Gisborne,” Furi said, with the land divided into four hectares (seven in total).

Julian Cress, Executive Producer of the Show, A person who recently turned his tree into Gisborne with his family,Confirmed New Daily On Wednesday night, the community was “crossing the moon” about a show heading to Gizburn South in the Macedon Mountains.

“We’re changing trees. We’re doing a show at Macedon Ranges. After the blockade … people wish I had a place to go to the countryside.

“This area is only 40 minutes from the CBD, so I think it’s a well-maintained secret,” he said.

He said 4 hectares is not an easy land to renovate in 3 months.

Next year’s series contestants are tackling a new set of challenges. Photo: LJ Hooker

Does going to the countryside give athletes a big payday?

What we don’t know is how much a contestant will get from weeks of hard work away from family, work, and real life.

Last year’s so-called Blockheads brought home a total of $ 3.33 million after their reserves exceeded an average of $ 500,000 for the renovation of five vintage homes on the outskirts of Brighton’s luxurious bayside.

With a reserve of $ 3,290,000 and a selling price of $ 4,256,000, winners Jimmy and Tam brought back $ 1,066,000 (including a bonus of $ 100,000 to achieve the highest profit margin).

The question is, does rebuilding a rural Australian home bring the same amount of money, or is it the case of overcapitalization?

If we speculate that the show will continue its formula with 5 couples [there’s seven lots, one with an existing 1930s timber house; it’s unclear about what the show will do with the seventh parcel] Build their version of a rural luxury home in 4ha [with an average $1.57m land value], Each property must generate at least twice that in order to be able to compare it to the previous year.

Is this feasible, or is it gambling, as in 2014 when Dee and Darren Jolly, Michael and Karlen Duffy made a disastrous $ 10,000 profit on all their hard work?

Local agents believe that the finished home will sell between $ 3.2 million and over $ 4 million in the region.

Houli said the market has already turned around since the purchase, with luxury homes in a four-hectare block facing north instead of the traditional Mornington Peninsula region, such as families and villas. He said he could raise a huge amount of money.

“When block Going there and making that purchase is already beginning to impact the market in a good way. I’m starting to set standards.

“Gizburn has always been a laid-back area of ​​Victoria, quiet, comfortable and suddenly block Come in and it awakens the entire area.

“What happens here is to attract more people from Melbourne who would have settled in something in an area like the Mornington Peninsula after the completion of the series in Gisborne next year.

“Gisborne is great. It’s beautiful. It’s close to the Macedon Mountains, with lots of expectations and close to the city.

“We will attract wealthy people from Melbourne to buy family homes and villas.”

Located 3km from the Hard Crescent parcel, the 2.4ha home was sold for $ 2.4 million in August. Photo: Realestate.com.au

“Gisborne is no longer a secret”

Kenglech, a Rain and Horn director, auctioneer and resident of Gizburn, who sold Hard Crescent real estate and has been involved in real estate since 1980, said that 4 hectares of land prices ranged from $ 850,000 to $ 120 in 12 months. It is said that it has dropped to 10,000 dollars. They’re just heading north, as they say in business.

“Everyone in the town I’m talking about was talking about it [The Block].. “

He agrees that in addition to the $ 1.57 million land formula, luxury homes are worth more than $ 3.2 million in bids.

Houli says it wouldn’t be surprising to say, “They’re going to sell at a completely different level,” even if it costs $ 4 million to build a house.

“Where does the market stop? Gisborne is no longer a secret. We are running many invisible properties. Our market is dramatically affected by the influx of people who want to buy in this area. It has changed, “Grech adds.

“Well, come here for those who are thinking about Gisborne block … It can only greatly strengthen our region. “

According to the domain, Gisborne home prices rose 10.8% to a median of $ 875,000 for the year to June.

Houli said the development took place at the right time for the region, given the COVID-19 restrictions and blockades of the last 18 months. block Upon coming in, it will regain hope and excitement and bring people up. “

After seeing such a big profit in Melbourne’s interior, Cress said moving the show locally is either overcapitalized or “will try to answer it next year.” I don’t predict … the experience of doing a show here will be something that will be one of the highlights of their lives. Good luck to them if they make some profit at the end of it. “

He said they only guarantee at the show that “if you come to the show, one of you will earn $ 100,000.”

“It’s a prize for playing the game. Everything else is cream.”

Why The Block’s next 18 seasons are unique

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