The Block’s jaw-dropping price guides offer insight into Australia’s crazy property market

Skyrocketing house price guides featured on The Block in 2022 have shed light on Australia’s out-of-control property market.

The five homes featured on Nine’s home improvement show are expected to sell for between $4 million and $4.4 million – the biggest sales in its 19-year history.

The homes, located in Gisborne South in central Victoria’s Macedon Ranges, are also valued well above the area’s median home price of $1.1 million.

The five homes featured on Nine’s home improvement show are expected to sell for between $4 million and $4.4 million – the highest amount in the show’s 19-year history.

The first home, renovated by married couple Tom and Sarah-Jane, is a mix of architectural design and luxurious country living, with their 10-acre estate expected to cost four times the area’s median price.

The property boasts high ceilings, plush furnishings and spectacular views of the ranges around Mount Macedon.

The listing describes it as a bespoke classic Queenslander with a large modern extension, taking country living to the next level.

Married couple Tom and Sarah-Jane have worked tirelessly to create the perfect blend of architectural design and luxurious country living.  Pictured: Tom and Sarah-Jane

Married couple Tom and Sarah-Jane have worked tirelessly to create the perfect blend of architectural design and luxurious country living. Pictured: Tom and Sarah-Jane

The list reads as follows:

The listing reads: “The bespoke design combines a classic Queenslander with a large modern extension, taking country living to the next level”

Similarly, house two, of Rachel and Ryan, is described as the ultimate in “luxury country living”.

Situated on a 10-acre wine estate, the lavish property features expansive living spaces, high ceilings, and large windows opening to the incredible view of Mount Macedon.

Rustic and warm, the design features a variety of natural finishes such as wooden furniture, a pure wool carpet and a stone fireplace in the master bedroom.

Couple Rachel and Ryan's property is described as the ultimate in 'luxury country living'.  Pictured: Rachel and Ryan

Couple Rachel and Ryan’s property is described as the ultimate in ‘luxury country living’. Pictured: Rachel and Ryan

Situated on a 10-acre wine estate, the lavish property features expansive living spaces, high ceilings, and large windows opening to the incredible view of Mount Macedon.

Situated on a 10-acre wine estate, the lavish property features expansive living spaces, high ceilings, and large windows opening to the incredible view of Mount Macedon.

Sharon and Ankur’s property differs from the others as it sits on an elevated block, offering panoramic views of the Macedon Ranges.

“Enter the immaculately restored Victorian-era home and admire the high ceilings, grand proportions and elegant period details,” the listing reads.

Standout features include a double-sided fireplace and freestanding spa tub.

The property of engaged couple Dylan and Jenny emphasizes sustainability and carefree elegance, according to the listing.

Sharon and Ankur may have ruffled some feathers on the show, but the couple's talent in the renovation game is undeniable.  Pictured: Sharon and Ankur

Sharon and Ankur may have ruffled some feathers on the show, but the couple’s talent in the renovation game is undeniable. Pictured: Sharon and Ankur

“Step inside the immaculately restored Victorian-era home and admire the high ceilings, grand proportions and elegant period details,” the listing reads.

The north-facing country estate, which also spans 10 acres, features a freestanding bath, huge double shower and spectacular walk-in closet.

Dylan and Jenny’s love of arched detailing takes center stage in the build, with doors, mirrors and a private arched entryway all showcasing that domed look.

Finally, the property of best friends Omar and Oz is described as a “new benchmark luxury executive home”.

The property combines modern furnishings with antique architectural details such as cathedral ceilings.

The property of engaged couple Dylan and Jenny shines a light on the carefree elegance of sustainability, according to the listing.  Pictured: Dylan and Jenny

The property of engaged couple Dylan and Jenny shines a light on the carefree elegance of sustainability, according to the listing. Pictured: Dylan and Jenny

The north-facing country estate, spanning 10 acres, features a freestanding bath, huge double shower and spectacular walk-in closet

The north-facing country estate, spanning 10 acres, features a freestanding bath, huge double shower and spectacular walk-in closet

“This designer masterpiece offers an indoor/outdoor lifestyle of unrivaled quality, grandeur and family flexibility on over 10 acres of land with views of the Macedon Ranges,” says the listing.

Unique features include an in-room office area, a freestanding bathtub and a spacious walk-in closet.

Mitch Edwards and Mark McKie, who won The Block in Sydney last year, sold their stunning home for $4.04 million with a profit of $644,000. All other homes shown last year sold for between $3.6 million and $4.4 million.

Dylan and Jenny's love of arched detailing takes center stage in the build, with doors, mirrors and a private arched entryway all showcasing that domed look.

Dylan and Jenny’s love of arched detailing takes center stage in the build, with doors, mirrors and a private arched entryway all showcasing that domed look.

Australia’s housing affordability crisis is now so critical that property more than an hour’s drive from the center of major capitals Sydney, Melbourne and Brisbane typically costs seven figures.

At the end of 2019, beachfront homes with backyards on the NSW Central Coast, Central North Coast, Sunshine Coast pockets and Victoria’s Mornington Peninsula had lower median prices at $600,000.

But now homes in these areas typically sell for over $1 million as low interest rates and an increase in people working from home drive demand for homes in areas with good lifestyles. .

Finally, the property of best friends Omar and Oz is described as a “new benchmark luxury executive home”.  Pictured: Omar and Oz

Finally, the property of best friends Omar and Oz is described as a “new benchmark luxury executive home”. Pictured: Omar and Oz

In May, Australian couples had to spend an average of 26.8% of their pre-tax wages on mortgage repayments, up from 25.7% in January, financial and credit rating firm Moody’s calculated.

Commonwealth Bank expects house prices in Sydney and Melbourne to fall 18% by 2023 as interest rates continue to rise.

Investment bank Jarden Australia expects an even bigger fall of 20%, which would be the worst since 1980.

“This designer masterpiece offers an indoor/outdoor lifestyle of unrivaled quality, grandeur and family flexibility on over 10 acres of land with views of the Macedon Ranges,” says the listing

About Dwayne Wakefield

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