Han and Can’s auctioneer reveals why The Block’s auctions failed – realestate.com.au

With almost 10,000 auctions under his belt, seasoned auctioneer David Holmes is well equipped for the unpredictable auction day, but he admits running The Block’s House 2 auction has been a whirlwind.

One of the key missing ingredients, he says, was mom-and-pop buyers.

The Block’s highly anticipated auction day fell apart this season, with two homes failing to sell and two others barely reaching a six-figure profit.

With auction reserves set at $2.99 ​​million, the odds were not favorable. PropTrack data shows that the median home price in Daylesford – a small regional town with a population of less than 3,000 – was $810,000 in September. Houses there rarely exchange at auction, and never five on the same day.

Ahead of auction day, David Holmes, the head of Belle Property in Queensland, felt that Han and Can’s House 2 – a beautiful spa-inspired retreat with some polarizing design choices – could be passed over.

“I really feel that the supply and demand scenario has not been looked at as efficiently and accurately as it should have been,” he said.

“You’re looking at five properties that they’re asking essentially $3 million to $3.5 million for, in a market where $2.7 million is a very high price for a very stunning architectural home.”

David Holmes, the head of Belle Property in Queensland. Image: supplied

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At that price, buyers could look to Byron Bay or the Yarra Valley, he said.

Han and Can’s house House 2 did not attract any bids, while Emma and Ben’s House 1 was also passed over.

Mr Holmes said the girls are shocked by the outcome.

“They are so sweet. I’ve met the mothers and the families – they are absolutely beautiful girls,” he said.

“Danny [Wallis] literally offered $2.1 million. I think he was very, very tough and that was difficult to work with,” he said.

Does the block auction need a shake-up?

After drawing the short straw on the auction order, Han and Can watched as every other house went under the hammer before theirs. It was a strong start, with Britt and Taz’s House 3 selling for $420,000 over reserve, but things quickly went downhill from there.

A disappointing auction day for the girls of House 2. Photo: Channel 9

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The decision was made to start the auction of House 2 with a bid of $3.1 million to avoid exceeding the reserve price and being forced to sell at a minuscule profit.

The house was passed on without an active buyer.

Now for sale on the open market, Mr Holmes said homes offered at auction often sell within seven to 14 days of failing to sell under the hammer.

As an investment, he noted that House 2 was a good prospect because of its phenomenal tax depreciation schedule, in addition to the potential to bring in solid income as an Airbnb.

“Who wouldn’t want to stay in a Block home?” he said.

Han and Can have made some polarizing choices, like this giant Japanese-inspired Torii gate. Image: Channel 9/9Now

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With the 2026 season of The Block confirmed for Mt Eliza, where contestants will transform an Old Mornington Road estate into five multimillion-dollar family homes, Mr Holmes said he would not hesitate to take part in a Block auction again, but said the show needed to make some changes for life beyond next year.

That meant more “organic” buyers – mom and pop buyers – were needed in the room, he said.

“I think we need to break it down next year and look at, ‘Hey, how can we re-engage mom and dad, startup investors, in these types of programs?

“How do we get mom and dad buyers back, because without [Adrian] Portelli, without Danny [Wallis]who is there anyway? And without [buyer’s agent] Frank Valentic – who will buy this property?

“It should make most of Australia more attractive.”