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The Block: Serial buyer Danny Wallis slams 'impossible' property rule

Danny claims he will not be looking to invest in property in Victoria in future due to new laws.

Fans of The Block will instantly recognise Danny Wallis, with the entrepreneur making several appearances at the show's auctions over the years, spending over $30 million on properties renovated by the show's contestants.

However, the Melbourne rich lister has decided to sell a St Kilda house he purchased in 2019 on the show and is blaming former Victorian Premier Dan Andrews for the sale.

The Block buyer Danny Wallis
Block buyer Danny Wallis has slammed Victorian property laws that have made it 'impossible' to have control over your own properties. Photo: Nine

Mitch and Mark renovated the three-storey home on the show, which was referred to at the time as the 'party house'.

Danny may end up losing money on the house, which is on the market for $3.2 to $3.5m after he paid $3.374m for it in 2019.

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The house features 3.5m-high ceilings, marble and American oak finishes, and a suspended oak staircase.

Speaking to realestate.com.au, Danny revealed that a state government plan to change the land tax payment threshold from January 2024 is one of the reasons he has decided to sell the house.

The new changes will mean homeowners will pay land tax if their investment, or secondary property such as a holiday house, is worth $50,000 or more. The current threshold is $300,000.

The Block buyer Danny Wallis at auction
Danny hasn't confirmed whether or not he will be at The Block auctions on Sunday, but said he would be looking to invest interstate rather than Victoria. Photo: Nine
Mitch and Mark's 2019 Block house
The Melbourne rich lister has decided to sell a three-storey home that was renovated by Mitch and Mark on the show. Photo: Nine

"Land taxes are way too dear and these days you can’t get a decent return," he told the website, adding he'd consider selling his other investment properties, including those purchased on The Block, as he could be facing a huge tax bill of millions of dollars.

He also shared that residential tenancies regulations that were introduced in 2021 were another reason he was keen to sell, as it means tenants can do things such as replacing curtains, installing picture hooks, planting a vegetable or herb garden, painting, installing security systems and more without the landlord's permission.

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"Daniel Andrews made it impossible to have control over your own property," Danny said, saying he will be investing interstate in the future rather than in Victoria.

He added that he would not be selling the homes purchased for families of sick children, who are receiving assistance through Ronald McDonald House and My Room Children's Cancer Charity.

Danny did not comment on whether or not he will be bidding on any of The Block houses at Sunday's auction.

Yahoo Australia

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