The Block 2026: Mount Eliza auctions could deliver $1m stamp duty windfall, eclipsing Nine’s Sunbury land deal

Courtney and Sev are among five Block teams whose home sales could generate more in stamp duty than the $1m Channel 9 paid the Victorian government for next year’s Sunbury site.

---

The Victorian government could collect more than $1m in stamp duty from The Block’s five homes even if they sell at reserve.

The properties at 2, 3, 4, 9 and 10 Mackillop Place, Mount Eliza, each have a $3.45m advertised reserve, leaving buyers facing $204,250 apiece in standard stamp duty at that price.

If all five sell for their reserves, the combined tax bill would reach $1,021,250, assuming no exemptions or concessions apply.

RELATED: Portelli’s shock threat to Coles, Woolies

Shock $12m Mt Eliza result puts The Block on notice

‘Don’t give a f**k’: Block star explodes

That is $21,250 more than the $1m the government received from selling Channel 9 the 2.612ha former psychiatric hospital site at Jacksons Hill, Sunbury, for next year’s season of the renovation show.

The Sunbury deal, recorded in September, involved three heritage-listed buildings requiring substantial restoration.

The Department of Transport and Planning defended the sale price, saying independent valuers had determined the market value and it was certified by Valuer-General Victoria, with the buildings’ condition and heritage obligations taken into account.

The Block contestants Rosco and Lisa are preparing for the Mount Eliza auctions, where a winning bid of $4.2m would attract $253,000 in standard Victorian stamp duty.

---

Meanwhile, the Mount Eliza duty calculation means a buyer landing a house at reserve would face a total outlay of $3,654,250 before legal fees and other purchase costs.

And the state’s potential take would rise further if bidding pushes the homes beyond their revised $3.45m-$3.75m advertised guides.

At $4.2m, a buyer would owe $253,000 in duty, while a $4.5m sale would attract $272,500, assuming the sale price equals the dutiable value.

Under Victoria’s premium rates, property worth more than $2m attracts duty of $110,000 plus 6.5 per cent of the value above that threshold.

Buyer’s advocate Nicole Jacobs, who has been involved in 13 series of The Block, says purchasers must account for Victoria’s “outrageous” stamp duty bills before bidding. Picture: Fiona Hamilton Photography

---

Veteran Block buyer’s advocate Nicole Jacobs, who has been involved in 13 series of the show and inspected all five homes, slammed the additional tax burden.

She said purchasers needed to understand the full expense before raising their hands at auction, particularly those coming from interstate.

“You really have to make sure, as an advocate, that you’re pointing everything out,” she said.

But Ms Jacobs warned the seven-figure tax windfall was far from guaranteed if the auctions struggled to find buyers.

The Block’s Adam and Jolene face an uncertain auction day, with a veteran buyer’s advocate questioning whether there will be enough wealthy purchasers for all five homes to sell.

---

“I don’t know if they’ve got enough buyers and enough depth across all five of these properties for that to happen,” she said.

The prestige specialist said buyers would look beyond the television exposure to building quality, inclusions and long-term suitability before deciding what the homes were worth.

She also questioned the privacy of the first three houses, where pools and outdoor living areas were positioned towards the street.

“The winners on the day will be those who actually get to sell in this market,” she said.

MR Advocacy director Madeleine Roberts described Victoria’s stamp duty as “absurd”, but said wealthy Block buyers were unlikely to be deterred by the six-figure bills.

---

Mount Eliza buyer’s advocate Madeleine Roberts agreed Victorian stamp duty was “absurd”, but said people spending $3m-$4m on a home were unlikely to treat the tax as a deal-breaker.

She said the additional expense was a much bigger consideration for purchasers buying properties below $1m than for wealthy bidders on The Block.

Ms Roberts expected serious buyers to understand their finances rather than be carried away by the television spectacle.

“They know what they’re doing,” she said.

“They wouldn’t be buying into the hype.”

The Block contestants Wyatt and Chantel are among five teams heading to auction, where buyers could face more than $200,000 in stamp duty on top of the purchase price. Picture: Nine

---

The upfront cost would still matter on resale. A buyer who paid $3.45m and later sold for the same price would not recover the $204,250 already paid in duty, before selling expenses.

The figures assume ordinary Victorian duty rates, without any applicable concession or exemption. The dutiable value can be higher than the purchase price if market value is greater.

Foreign purchasers liable for an extra 8 per cent surcharge could face another $276,000 at the reserve price, taking their combined duty bill to $480,250.

The five auctions are scheduled for October 31, with the televised finale airing on November 1.

Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox.

MORE: ‘Horrible’: Block legend calls out ugly backlash

Ex-Block stars eye six-figure Vic home deal

Melb street’s after-dark action takes unexpected turn

[email protected]