The Block Daylesford House Sells $400K Below Original Price

A Daylesford home featured on reality renovation TV show The Block sold for $2.59 million on Tuesday after a series of price reductions totaling up to $400,000, according to reporting from The Age and The Sydney Morning Herald.

The Block House Sale at 4 Cedar Lane

The property located at 4 Cedar Lane, created by contestants Hannah Thetford and Candice Wood during the show’s season finale last year, was marked as sold on its online listing. Following the auction, the property was converted to a private treaty, with the price guide revised down to $2.9 million in late March and further reduced to $2.59 million in June.

Because contestants pocket cash only above the property’s reserve price if it sells at auction, Hannah and Candice are not expected to make money from the sale, according to The Age and The Sydney Morning Herald. Chattr.com.au reported that Belle Property’s Natalie Fagan noted the contestants understood the risks involved, describing them as exceptionally positive and gracious throughout the process.

Market Conditions and Selling Times for Reality TV Properties

Selling a home after a televised auction rarely happens instantly. Natalie Fagan told Chattr.com.au that properties passed in on the show typically require a longer timeline, noting that Daylesford generally averages three to four months on the market.

Selling agent Will Walton of Belle Property Daylesford declined to comment on the buyer or final price for 4 Cedar Lane. However, he told The Age and The Sydney Morning Herald that the broader Daylesford market has started picking up, highlighting a Trentham home sale for $1.9 million and a Daylesford property deal exceeding $1.4 million. Domain data cited by the masthead places Daylesford’s median house price at $777,500, representing a 5.2 percent decline over the year leading up to June.

Broader Victoria Property Trends and Remaining Listings

The remaining Daylesford property from the same season, located at 5 Cedar Lane, carries a similar price guide of $2.6 million and is currently marked as under offer, according to The Age and The Sydney Morning Herald. That property previously passed in on a vendor bid of $3.1 million after competitive bidding reached $2.97 million, falling just $20,000 short of its reserve.

Ray White Sunbury selling agent Aaron Hill, who has managed six listings from the reality series, told the masthead that market conditions in Victoria and across Australia have made these properties particularly challenging to sell. Broad market values have fallen this year due to rising interest rates, economic uncertainty, and federal budget tax changes affecting investment properties, with Melbourne home values dropping 2.8 percent over the past year. Furthermore, ANZ released forecasts on Tuesday predicting overall capital city property prices will fall 10.6 percent from peak to trough, including drops of 14.5 percent in Sydney and 12.8 percent in Melbourne.

Frequently Asked Questions

How much did 4 Cedar Lane sell for?

The exact sale price was undisclosed, but the property’s price guide at the time of sale was $2.59 million, according to The Age and The Sydney Morning Herald.

Did Hannah and Candice make a profit from the sale?

No, the contestants are not expected to make money because the home ultimately sold below its original auction reserve price after undergoing multiple price reductions.

What is happening with the other unsold home from that season?

The neighboring property at 5 Cedar Lane, which also passed in during the season finale, has a price guide of $2.6 million and is currently marked as under offer, according to reporting by The Age and The Sydney Morning Herald.