The block is coming to an end and you know what that means: the auction will take place either make or break the teams’ hearts! They could leave with piles and piles of money, or almost nothing. And the worrying thing is that it’s starting to look like the latter.

While recent auctions have seen pseudo-celebrity bidders Danny Wallis And Adrian ‘Mr. Lambo’ Portelli snapping up several homes for millions of dollars, the Victorian government has introduced new tax laws to try to discourage people from investing in property. TBH, this is a good thing, at least for renters and first-time home buyers… but not so good for applicants.

For those looking to purchase one The block houses as a vacation home, they will have to pay a short stay tax of 7.5 percent starting January 1, 2025. The property tax in the state also increased from 2.55 percent to 2.65 percent if the property is valued at more than $3 million.

Buyers Agent Franck Valentic said the Sun Herald that we might see a big change when the auction takes place.

“The impending Airbnb tax and changing rental legislation could have a negative impact on The block properties, adding a layer of complexity for investors dependent on rental income,” he said.

However, he believes that the drop in property prices this year could attract more buyers. This year, all five homes are listed with a guide ranging from $1.7 million to $1.85 million, compared to last year’s homes which all topped $2.2 million.

A former candidate said Daily Mail it was a “set-up” by the producers hoping to create an exciting finale.

“These houses are going to sell for $3 million and it’s a ‘boost’ for (the producers) to have a really exciting finale where everyone makes a lot of money this year,” they said .

“There’s no way this wouldn’t have been adapted into a narrative that works for the format of the series.”

One 2021 contestant said this meant the series would end with a “happy ending,” which it desperately needed.

“This kind of pressure and drama needs a happy ending and these outcomes are cherry-picked by the people who make the show, there’s no doubt about that,” they said.

The block the auction will take place on Sunday, November 10, then we will know who will win the grand prize of $100,000.

Main image: New