The stakes have risen dramatically for The Block 2026 contestants, with all five luxury Mount Eliza homes carrying price guides of between $3.6 million and $3.9 million. But behind the impressive figures lies a question that could have a major impact on the contestants’ final results: are all five properties really worth the same?

After last year’s disappointing auction, when two Daylesford homes failed to sell on the day, the pressure is mounting for this year’s teams to deliver a better outcome.

The new price guides place the coastal properties among the most expensive homes ever listed for the renovation series since its 2022 season in Gisborne. Yet while the homes boast ocean views, high-end finishes and lifts, property experts have pointed to significant differences between the five blocks.

And those differences could become increasingly important as the contestants approach auction day.

The Multi-Million-Dollar Figures That Have Changed the Stakes

The five Mount Eliza properties have officially entered the market with advertised price guides ranging from $3.6 million to $3.9 million, according to Domain.

The figures are more than double the suburb’s median house price, which Domain places at approximately $1.64 million.

However, local property experts say the homes are situated in one of Mount Eliza’s most desirable coastal pockets, where comparable prestige properties can command substantially higher prices.

Stavros Ambatzidis, co-founder of O’Brien Real Estate and the agent who brokered the sale of the land to Channel Nine, believes the advertised range represents strong value for buyers seeking a premium coastal home.

“These homes are beachside and probably in the most desirable pocket of Mount Eliza,” he said.

Ambatzidis also noted that several properties in the surrounding area had sold for more than $6 million in the previous 14 months.

The price guides therefore reflect more than the renovation work completed by the contestants. Location, lifestyle, land size and views are all expected to play important roles in the final result.

One important distinction: the $3.6 million to $3.9 million figures are advertised price guides, not confirmation that every home has an official reserve within that range.

Why Mark Nunn Believes Buyers Could Find Real Value

For Lisa and Rosco, selling their home will be a particularly important moment after months of construction, competition and financial pressure.

Their selling agent, Mark Nunn of Buxton Ballarat, has experience with The Block, having represented Britt and Taz’s winning House 3 in 2025.

He believes the Mount Eliza homes offer buyers something the show has never delivered on quite this scale before: a combination of high-end construction and ocean outlooks.

“These properties represent really, really good value with the views of the ocean,” Nunn told New Idea.

“They’ve got elevators in them. They’re extremely high-end homes, great locations. The first season The Block’s ever had of ocean views, so it’s a really big drawcard.”

Nunn believes the coastal setting could make a significant difference when buyers compare the homes with other properties on the market.

“It’s certainly a different ball game this season, you’re surrounded by really high calibre homes.”

He also believes all five properties could end up with the same reserve price, although other property experts have questioned whether that would adequately reflect their differences.

For the contestants, the distinction matters. A home may have an impressive advertised price guide, but the reserve determines the minimum amount its owners are prepared to accept at auction.

The View That Could Give Three Contestants an Advantage

Although the five homes share the same gated development, they do not enjoy identical outlooks.

Houses 1, 2 and 3 sit on the higher side of the site and have panoramic views across Port Phillip Bay from their upper-level balconies. The three properties occupy blocks of approximately 1,000 square metres.

Houses 4 and 5 sit lower on the sloping site and have more limited views, although they offer other advantages, including larger decks and poolside entertaining areas.

House 5 also occupies the largest block, at 1,435 square metres, and has an additional 50 square metres of internal floor space.

Those differences have prompted questions about whether identical reserve prices would accurately reflect the homes’ varying appeal to buyers.

Real estate expert Marty Fox has previously highlighted the advantage enjoyed by the first three properties, arguing that panoramic water views can add substantial value because homes with comparable outlooks are relatively scarce.

“The two things that add immediate value to real estate are water views and city views, with water views being the better of the two,” Fox said.

But views are not the only consideration. Buyers may also value larger landholdings, practical layouts and the ability to entertain outdoors.

The challenge for the teams is that they cannot rely on the homes’ headline features alone. They must also persuade buyers that the overall package justifies the final price.

Property Experts Disagree on Whether the Reserves Should Be Equal

While Nunn believes the five properties could share the same reserve, another expert has argued that the difference in their views should be reflected in the figures.

Rebecca Cardamone, a property developer and owner of iSubdivide, has previously highlighted the potential value that ocean views could add to a property.

Matt Jackson, chief executive of David Reid Homes, has also said coastal homes with picturesque outlooks can command a premium of around 20 to 25 per cent, depending on the property and its market.

Meanwhile, senior buyer’s agent Andrew Date of Industry Insider Property in Toorak has questioned whether it would make sense to assign identical reserves to all five houses.

“If they’re not, they’re crazy because the high side has significantly better views, so they’re worth more,” Date said.

“If they’re not different in reserve prices, I’d be flabbergasted.”

His argument is that the homes with superior upper-level views should not necessarily be valued in the same way as those with more limited outlooks.

That creates a potential dilemma for the auction: if the reserves are too high, contestants could struggle to sell; if they are set too low, the teams may miss out on the full value of their work.

Last Year’s Auction Disaster Still Looms Large

The heightened attention around this year’s figures comes after a difficult result for The Block in 2025.

Two of the five Daylesford homes failed to sell at auction, leaving their contestants without the immediate financial outcome they had hoped for after months of work on the show.

The reserves were widely viewed as ambitious for the local market, prompting questions about whether the properties had been priced beyond what buyers were prepared to pay.

This year’s Mount Eliza setting offers a different proposition. The homes are positioned close to the beach in a sought-after part of the Mornington Peninsula, with access to local shops, schools and Melbourne.

But the higher price guides also bring their own risks. Buyers at this level are likely to scrutinise the properties closely, comparing the homes not only with one another but with other prestige houses available in the area.

For the contestants, a successful auction will depend on more than the total value of the renovation work. They will need genuine competition from buyers willing to pay the asking price.

A Major Change Could Finally Reveal the Exact Reserves

There is another factor that could make this year’s auction particularly significant.

Victoria’s new property price transparency rules require agents to publish a seller’s exact reserve price at least seven days before an auction for sales held on or after October 16, 2026.

Under the changes, the auction cannot proceed unless the reserve has been publicly available for the required seven-day period.

The rules are designed to give buyers clearer information about the minimum price a seller is prepared to accept and to improve transparency in the property market.

With Channel Nine yet to officially confirm the auction date at the time of reporting, the precise timing of the disclosure remains important.

The advertised $3.6 million to $3.9 million range therefore offers a useful indication of how the homes are being marketed, but it should not be confused with the final reserve for any individual property.

Once those official figures become available, the contestants and viewers will have a clearer picture of what each team must achieve to secure a sale.

Five Luxury Homes, Five Very Different Outcomes?

For now, all five teams are approaching the final stretch with enormous expectations attached to their properties.

The houses offer high-end interiors, lifts, outdoor entertaining spaces and coastal outlooks. Yet differences in land size, position and views may prove decisive when the bidding begins.

Nunn believes the homes represent strong value for the Mount Eliza market. Other experts, however, believe the differences between the properties should be reflected in their reserves.

The contrast between those views highlights the central challenge facing the contestants: a multimillion-dollar price guide is only the beginning. What matters is whether buyers agree with the valuation when it is time to bid.

After last year’s disappointment, another unsold home would be an unwelcome outcome for the teams. But with the properties in a sought-after coastal location, there is also potential for a far more successful auction.

The key question now is whether the final reserves will give all five teams a realistic opportunity — or whether the differences between their homes will become impossible to ignore when the auctioneer calls for the first bid.