A luxury home featured on the Australian renovation show The Block has sold at auction for $3.8 million, a result significantly below its reserve price and initial expectations. The property at 3 Ranelagh Drive in Mount Eliza, Victoria, was the final house from the show's 2023 season to sell.
The sale price fell short of the $4.5 million reserve set by the show's producers and was well below the $5 million-plus guide suggested by some agents. The auction, held on March 22, 2026, saw the five-bedroom home pass in before being negotiated to the final sale price with the sole registered bidder.
Real estate experts cited the result as a clear indicator of a cooling luxury market and a warning for vendors with high price expectations. The outcome reflects broader trends of buyer caution and a market correction following several years of rapid price growth.
The sale concludes the drawn-out selling process for the Block's 2023 'Tree Change' season homes, with other properties also selling below their televised reserves earlier in the year.
