The Elephant In The Room Property Podcast | Inside Australian Real Estate Inside “The Block” Auctions: What Really Went Wrong in Daylesford
The Block 2025 auctions were billed as a massive TV spectacle — but what unfolded in Daylesford turned out to be one of the most revealing auction finales the show has aired in years.
Five nearly identical, fully furnished homes were pushed to market on a single afternoon, each carrying price expectations the local market was never built to support. What followed was a rare moment where real buyer behaviour overpowered reality-TV momentum.
To break down what really went on, we’re joined by buyers and vendors advocate Mark Errichiello, who attended the auctions, tracked buyer behaviour, and has followed The Block’s auction patterns for years. Mark explains how quoting in the low $3 millions set unrealistic expectations from day one, how the quality of the build couldn’t compensate for a non-premium location, and why bidder confidence evaporated the moment prices edged toward $3 million.
We unpack the psychological chain reaction inside the room — how the stalled results of House 2 changed the energy for every house that followed, how auction order heavily influenced who bid and when, and why mid-auction reserve changes shattered trust and halted momentum entirely. Mark also highlights overlooked costs buyers faced this year: stamp duty on cars and furnishings, rising Victorian land tax, and the long-term financial drag of prestige builds in regional markets.
This episode strips back the theatre and exposes the real mechanics at play — from buyer sentiment to pricing strategy to the risks of flipping homes far from their emotional sweet spot. If you want the unfiltered version of what The Block 2025 really showed us about Australia’s property market, this conversation is a must-listen.
Episode Highlights
00:00 – Introduction to the Block Auctions
01:18 – Meet the Expert: Mark Errichiello
01:52 – Auction Day Insights and Challenges
02:52 – Market Realities and Auction Strategies
04:33 – The Block's Unique Auction Dynamics
05:43 – Behind the Scenes: Vendor and Agent Dynamics
09:02 – The Realities of Property Flipping
11:10 – Investment Considerations and Risks
12:28 – Decoy Bidding Strategy
13:38 – Market Sentiment and Future Trends
14:54 – Final Thoughts on the Block Auctions
19:59 – Pricing a Property with Furniture
22:31 – Victoria's Land Tax Changes and Market Impact
24:11 – Strategic Moves and Missteps in Property Auctions
27:24 – Renovation Strategies for The Block
34:34 – Melbourne Market Insights
38:40 – A Memorable Client Story
40:39 – Conclusion and Final Thoughts
Links
About the Guest
Mark Errichiello is a licensed buyers and vendors advocate and the Co-Founder & Director of Master Advocates, a Melbourne-based property advisory firm known for its strategic, data-driven approach to acquisitions, valuations, and auction representation. With decades of hands-on experience, Mark has attended every Block auction since the early seasons and understands the dynamics of high-pressure televised auctions better than most.
Mark has represented bidders in both metropolitan and regional markets — including acting as an anonymous strategic bidder during the Phillip Island Block season — giving him unique insight into how buyer psychology, auction order, and market fundamentals shape outcomes. His commentary cuts through hype and focuses on realistic pricing, fair value, and the long-term risks buyers often overlook.
Respected for his measured, forensic approach, Mark brings clarity to situations where emotion, spectacle, and production expectations collide with real market behaviour. His expertise helps buyers navigate fast-moving environments and make confident, well-informed decisions.
Connect with Mark
Resources
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- Work with Veronica: https://www.veronicamorgan.com.au
- Looking for a Mortgage Broker? alcove.com.au
- Work with Chris: chrisbates@alcove.com.au
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See you on the inside,
Veronica & Chris