Brighter And some

#5 Reasons to LOL at Dave Hughes $3 million buy on The Block

by Kate Watt, Marketing Manager 10 November 2017

The construction site hammers fell silent then the auctioneer’s hammer marked the end of another season of The Block.

It was completed with all the trademark drama and flashy fit outs of previous years.

And it also came with its own auction day twist when comedian Dave Hughes stepped out of the crowd to place a winning mega-bid of $3.067 million for Josh Barker and Elyse Knowles home.

We all love Hughesy so why the fuss that he bought a beautiful family home in a prime Melbourne suburb?

Property commentators, and even his own wife, have highlighted Hughesy’s purchase as a lesson in how not to buy a house.

Here are #5 reasons why Hughesy might not be laughing once that new house feeling wears off.

  1. He overpaid by nearly half a million reports The Australian with his winning bid a whopping $447,000 over the reserve.
  2. He’s bought an investment property in his own neighbourhood, so he should know the average house price in Elsternwick is just $1.79 million.
  3. The Melbourne property market is flattening out limiting opportunities for near term capital gains.
  4. He bought because it had a “good vibe”… but head should prevail over heart when making an investment decision.
  5. He didn’t tell his wife. Well sort of. His wife asked him to be discreet and use a buyer’s advocate, so what did Hughesy do? Purchase it in person and pose for photos in the bath.

Want some help to reduce the risk of buyer’s regret for your next property? Contact us for a chat.

46a Regent St Elsternwick

Dave Hughes tries out his new bath tub.

46a Regent St Elsternwick

Josh and Elyse win The Block 2017

46a Regent St Elsternwick

The kitchen inside Josh and Elyse’s winning house.

46a Regent St Elsternwick

Poolside at Josh and Elyse’s house.