Fans could see a very different block auction this month as new, tougher real estate regulations could turn away big spenders.

Recent auctions at the blockbuster home improvement show have been dominated by high-profile multi-millionaire bidders like Adrian “Mr Lambo” Portelli and Danny Wallis.

However, experts now say new taxes introduced by the Victorian government are making property investments less attractive in the state.

Buyers who purchase one of the Phillip Island Block’s lavish homes as a vacation spot this year will face a 7.5% short-stay tax, which comes into effect on January 1, 2025.

An increase of Property tax is another deterrent for block bidders, as the rate rose from 2.55 percent to 2.65 percent in 2024 on blocks worth more than $3 million.

Buyers’ agent Frank Valentic predicted the changes will impact Blockheads looking for a big bargain.

“The impending Airbnb tax and changing rental laws could negatively impact The Block properties, adding a layer of complexity for investors dependent on rental income,” he told The Block. Sun Herald on Sunday.

Estimates for the five Phillip Island homes are considerably lower than in previous years, falling short of the same multi-million dollar expectations.

Fans could see a very different block auction this month as new, tougher real estate regulations could turn away big spenders. Pictured: Maddy and Charlotte’s House 1 in Phillip Island has been listed with a guide price of between $1.7 million and $1.85 million.

Recent auctions at the blockbuster renovation show have been dominated by notorious multi-millionaire bidders like Adrian ‘Mr Lambo’ Portelli, who spent $12.4 million on The Block’s 2023 auction (pictured)

The shock prices are the lowest in almost 10 years, with all five falling between $1.7 million and $1.85 million, a considerable drop from last year’s guides of $2.2 million dollars and more.

Portelli spent $12.4 million on three of those homes last year.

Meanwhile, Blockheads for this year’s 20th anniversary season face stiff competition in the Phillip Island market alone.

Listings say 200 homes are currently up for grabs in Cowes, where The Block was filmed this year. Nine feature price guides capped at $2.5 million.

Experts now say new taxes introduced by the Victorian government are making property investment less attractive in the state. Pictured: Courtney and Grant’s House 2 has been listed with a price guide ranging from $1.7 million to $1.85 million.

Buyers who purchase one of the Phillip Island Block’s lavish homes as a vacation spot this year will face a 7.5 percent short-stay tax, which comes into effect on January 1, 2025. Pictured: The home Ricky and Haydn’s 3 has been listed with a price range of $1.7 million to $1.85 million

Guide prices for 2024 are lower than last year and represent a considerable drop from the massive 2022 listings, which ranged from $4 million to $4.4 million.

Channel Nine spent $8.758 million to buy the five houses on Phillip Island.

And it comes after a former candidate expressed disbelief at the low-end prices of new 2024 homes.

Claiming it was a “set-up” by Channel Nine producers, the former Blockhead speculated it would ensure the lavish homes sold for an unexpected profit.

They alleged the 2024 contestants were being “set up to make stupid money” as the modest prizes left the construction show’s former stars perplexed.

The anonymous star exclusively told Daily Mail Australia: “These houses are going to sell for $3 million and it’s a ‘boost’ for Channel Nine to have a really exciting finale where everyone wins a lot of money. money this year.

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

Another former contestant predicted Portelli would double the sticker price and buy Courtney and Grant’s house for $3.7 million in a huge “twist.”

“Maybe these price guides are so low for a reason? This is either to make these homes more attractive to the average buyer or to help Adrian Portelli afford to purchase the entire complex for $15 million; that would be my hypothesis,” they speculated.

Fools Kyle and Leslie won $130,000 on the 2023 season of The Block after their House 1 in Hampton East went under the hammer for $3.1 million. (Photo)

A 2021 Blockhead said the series would need a “happy ending” with sales after the contestants were “put to the test” during the “challenging” 20th season.

“This kind of pressure and drama needs a happy ending and these outcomes are engineered by the people who make the show, there’s no doubt about it,” they added.

Executive producer Julian Cress even alluded to low housing prices, saying “buyers will get a lot of house for that much money.”

“I think the properties created by the contestants this year have been absolutely exceptional. When people come to see them, they will be blown away, especially considering the prices listed,” he added.

Guide prices for 2024 mark a drop from last year’s and a considerable drop from 2022’s massive listings, which ranged from $4 million to $4.4 million.

Daily Mail Australia has contacted Channel Nine for comment.

Contestants Jessie and Paige, Courtney and Grant, Ricky and Haydn, Kylie and Brad and Mimi and Kristian are currently being challenged with their huge builds on Phillip Island.

The winner will be revealed in the upcoming grand finale, which will be filmed in the last week of October before being screened in November.