Fresh from their stint on Channel Nine's renovation showdown The Block, fan favourites Dylan Adams and Jenny Heath are facing a harsh reality check. Their meticulously crafted Gold Coast apartment, which failed to sell under the hammer on auction night, has been hit with a significant price reduction in a bid to attract a buyer.
The couple, who took home a profit of $65,000 after their auctioneer's aggressive tactics, have been forced to slash the asking price for their three-bedroom, two-bathroom unit in Benowa. The property is now listed for $1,450,000 – a substantial drop from its original auction hopes.
From Auction Drama to Price Reduction
The apartment's journey to sale has been anything but smooth. During the high-pressure auction finale, bidder Adrian 'Mr Lambo' Portelli made a final offer of $1,580,000. However, the couple's own auctioneer, Andrew Winter, controversially made a vendor bid of $1,600,000, effectively pushing the property past its reserve but leaving it unsold when no higher offers were made.
This left Dylan and Jenny in a difficult position, ultimately accepting a post-auction offer of $1,620,000 from Adrian. That deal, however, famously fell through, forcing the property back onto the market and leading to the current price cut.
A Sign of Cooling Markets?
This price reduction could be interpreted as a sign of a shifting property landscape on the Gold Coast. While the market has seen tremendous growth, the inability of a high-profile property from a popular television show to immediately sell at its expected price point may indicate a cooling period.
For Dylan and Jenny, the focus is now on finally closing this chapter. The new asking price presents a potential opportunity for buyers to secure a piece of The Block history, complete with all the designer finishes and renovations the show is famous for, at a more accessible price point.
