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Share full article with anyone \u2014 no subscription needed to read it. It won’t deduct your gift credits. Learn more<\/a><\/p>\n Share article as gift<\/p>\n AAA<\/p>\n This year\u2019s season of reality renovation TV show The Block is almost at the finish line, but potential buyers of the five homes could find other luxurious homes nearby for a similar budget or less.<\/p>\n Homes from the show are for sale with a $3.6 million to $3.9 million price guide, but the contestants trying to sell will face competition from other vendors within the same suburb of Mount Eliza and across the wider Mornington Peninsula.<\/p>\n With the housing market in a downturn, questions remain over whether The Block homes will all sell on auction day. The Block airs on Nine, owner of this masthead.<\/p>\n On last year\u2019s season of the show, two houses failed to find a buyer at auction. They sold months later at a discount, and one settled on Thursday for $2.15 million to a corporate entity of which serial Block bidder Danny Wallis is the director. That price is $840,000 less than its auction reserve.<\/p>\n McEwing Partners\u2019 Quentin McEwing is selling a number of properties on the Mornington Peninsula, and is also selling Chantel and Wyatt\u2019s home at 3 Mackillop Place<\/a> on The Block.<\/p>\n He\u2019s also selling a five-bedroom home a minute\u2019s drive away, at 112 Old Mornington Road, Mount Eliza\u00a0<\/a>with a price guide of $3.2 million to $3.5 million.<\/p>\n The home is set on a 3553-square-metre block and has a tennis court and a swimming pool.<\/p>\n \u201cI am competing against myself,\u201d McEwing joked. \u201cThis property has a pool and tennis pavilion and land you could subdivide. Dollar for dollar it\u2019s offering a great buy for families.\u201d<\/p>\n In a strong market, properties like Old Mornington Road would sell for at least $4 million. But in the weaker market vendors were being more realistic about prices, McEwing said.<\/p>\n Related Article While there had been interest in The Block houses, he admitted it would be a tough market to sell in.<\/p>\n \u201cI think we\u2019ve all got our challenges in terms of buyer depth,\u201d McEwing said. \u201cLots of people would like to be a buyer, but they don\u2019t have the [financial] depth to do it.\u201d<\/p>\n Even so, The Block homes were also offering great value \u2013 with the land worth about $1.8 million and build costs of about $3 million.<\/p>\n \u201cIt would be an over $5 million replacement. It is a ripper buy,\u201d McEwing said.<\/p>\n Mount Eliza\u2019s median house price was $1.64 million in the June quarter on Domain data, rising 3.8 per cent over a year and bucking Melbourne\u2019s downturn.<\/p>\n However, agents say there are few buyers at the $3 million-plus price bracket, as interest rate rises and the cost-of-living squeeze budgets and change plans.<\/p>\n Buyers have also been looking at nearby Mount Martha and Mornington as prices fall.<\/p>\n A six-bedroom property at 8 Birdwood Avenue<\/a> is up for sale in Mornington, with a $3,495,000 to $3,844,500 guide.<\/p>\n The property has ocean views, a swimming pool and an al fresco terrace. It includes a two-bedroom unit built into the roofline, and comes with an option to buy a beach box.<\/p>\n Belle Property\u2019s Mark Logue said the property had been chasing north of $4 million, but the price changed with the market.<\/p>\n \u201cSub-$1 million the market is pretty active and buoyant,\u201d Logie said. \u201cNorth of that buyers have a lot more choice and options. It\u2019s pretty tough.\u201d<\/p>\n Vendors were becoming more accustomed to the current market, and were more willing to meet buyer expectations than a few months ago.<\/p>\n \u201cThe vendors understand it\u2019s a tough market and all of the confidence that has been eroded from the market, has eroded price,\u201d he said.<\/p>\n A couple of suburbs south in Safety Beach, a four-bedroom house at 2 Sovereign Point<\/a> is on the market for $3.3 million to $3.6 million.<\/p>\n The waterfront house in Martha Cove comes with its own boat berth and a swimming pool.<\/p>\n \u201cA house like 2 Sovereign Point is more likely to be something a buyer would have as a holiday home,\u201d Marshall White Mornington Peninsula\u2019s Brad Pearce said.<\/p>\n Many properties were transacting off-market as prices softened, with buyers in the $3 million plus price range looking for homes that don\u2019t need a renovation.<\/p>\n \u201cA lot of buyers have car collections, and they want somewhere for their cars or boats or jet-skis – something for the toys,\u201d Pearce said. \u201cSo that really is a huge focus for them.\u201d<\/p>\n Property alerts are now available in The Age app. Turn them on to receive the latest market news and trends.<\/p>\n Save<\/p>\n You have reached your maximum number of saved items.<\/p>\n Remove items from your saved list<\/a> to add more.<\/p>\n Gift this free article<\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/10\/ec5b4f7236b312947dd4f66705dea668932f7c33.jpeg\")
The Block\u2019s contestants worked on homes in Mount Eliza this year.<\/p>\n![\"Britt](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/10\/5aa0c81744ac9e4aea764effaed85d2ce88e6548.jpeg\")
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112 Old Mornington Road, Mount Eliza is one of the houses competing with The Block for buyers.McEwing Partners<\/p>\n