Forget glossy new builds – Aussies are suddenly obsessed with buying the ugliest home on the street.
And it’s all thanks to The Block.
The reality TV juggernaut isn’t just gluing millions of eyeballs to the couch each week – it’s spilling over into the real estate market, with buyers now scrambling for fixer-uppers they can flip into their own slice of Block glory.
Agents say houses once dismisses as “too hard” are being snapped up, with first-home buyers and young families looking past peeling paint and cracked tiles in search of potential.
“It is no coincidence that The Block hits our screens each spring, as this is typically the peak property season across Australia – and the start of the warmer weather, which often see a spike in renovation activity,” Angus Raine, Chairman of Raine and Horne Group, said.
“Buyers are often inspired by the building or renovation works seen on The Block and the myriad of shows on cable television, such as Grand Designs, and are keen to turn their own hand to property renovations.
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“There is no doubt that homes ripe for renovation often sell for less than more contemporary properties, so buyers may be able to score a quality property at a reasonable price and add value through improvements.”
Latest market data shows Aussie homeowners are spending $5 billion more on renovations than they were before the pandemic, with a jaw-dropping $54b splashed over the past year.
Rising build costs and increasing home values have caused a spike in money spent across the country, with new research showing renovation loans have jumped by thousands since 2019.
All up, 40,274 renovation loans were placed by Australians in the past 12 months from March, up by more than 3000 from the previous 12 months.
Quarterly loan numbers in the 2019-2020 financial year were typically around 6-7,000, with 2025’s numbers at an increase of about 2,000 per quarter.
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More Aussies are feeling inspired to start their own reno rumble, thanks to TV shows like The Block.
HIA senior economist Thomas Devitt said “massive increases in construction and finance costs” were playing out as the renovation market played catch-up with the changing economy after the pandemic.
The HIA predicted rising demand nationwide would cause Aussies to spend an extra $2b annually by March of 2029.
“The resurgence in activity we’ve been seeing more recently will be much more reflective of increasing real activity,” Devitt said.
“The cost of renovation projects seems to have stabilised around 40 per cent above pre-pandemic levels.”
But where are these renovation dreams truly taking shape, and what are the real-world returns? Here’s what some agents on the ground had to say on how this trend is playing out across the country.
Western Sydney: Even a partial renovation can add substantial value
In the bustling southwestern suburbs of Sydney, the renovation bug has well and truly bitten. Vince Labbozzetta, Director of Raine and Horne Liverpool, notes that homes ripe for renovation in his area attract a diverse mix of first-home buyers, developers, and occasionally investors.
Unlike the high-stakes flipping seen on The Block, Mr Labbozzetta said it is unusual to see property ‘flippers’ – those who buy and sell within a short time frame – in his neighbourhood. Instead, developers are more interested in large parcels of land ideal for constructing duplexes.
That said, there is serious money to be made in renovations in Sydney’s southwest.
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94 Strickland Crescent, Ashcroft is on the market with a price guide of $930,000 – $1,010,000
The property offers plenty of scope for expansion.
According to Mr Labbozzetta, renovated homes can command a price premium, but even partially renovated homes will almost always attract a higher price.
“A ‘fixer upper’ is normally a home where the kitchen or bathroom needs work done, and not every buyer will go for this,” he said.
“A lot of people want to move straight into a completed property. However, renovators with time up their sleeves can make money on a property – often at least a profit of 10 per cent.”
For those keen to get their hands dirty, Raine and Horne Liverpool has listed 94 Strickland Crescent, Ashcroft from $930,000.
This single-level, three-bedroom home on a 588sqm block offers a wealth of opportunities.
“The Ashcroft location is exceptional, with close proximity to Liverpool and Fairfield. This is a house with excellent bones to build on, to transform into a well-located, generously proportioned family home,” Mr Labbozzetta said.
Brisbane: A renovator’s delight can be an affordable entry-level option
Further north in Queensland, the story is similar, but with a distinct Brisbane flavour.
Des Besanko of Raine and Horne Brisbane Central explained, “Buying any home in a Brisbane CBD fringe suburb usually means you need to find a home that’s a bit older – and everyone is looking in these areas right now, firstly because it is generally hard to find vacant land in these areas, and also because it generally costs less to buy a preloved property rather than buy vacant land and then build a new home from scratch.”
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22 Perwell Street, Keperra is on the market with price expectations of $950,000/
He highlights the significant cost difference: “Buyers who opt to purchase a vacant lot and build are looking at around $800,000 by the time they build a home – this can be found in the more affordable suburbs in say Springfield through to Ipswich where there is more of an abundance of vacant land.
“The other option for a relatively affordable entry-level home is to buy a ‘renovator’s delight’ and do it up.
“On a quality renovation, every dollar spent can drive a two-dollar uptick in the property’s value.”
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The property oozes yesteryear charm and comes with strong “bones”.
Raine and Horne Brisbane Central currently has listed for sale 22 Perwell Street, Keperra, QLD.
The generously proportioned home has outstanding ‘bones’, and while it is ready to move into straight away, Mr Besanko said, “a new lick of paint inside could add considerable value.” The home is on the market with price expectations of $950,000.
Adelaide market: ‘Noticeable’ competition for homes in need of renovation
Down south in Adelaide, the competition for fixer-uppers is heating up.
Mr James Trimble, Senior Sales Agent and Auctioneer, Raine and Horne Adelaide, said there is “noticeable competition” for these properties.
This is especially the case among first-home buyers who possess the skills to complete any works themselves, a factor that is tending to push prices upwards.
More broadly, Mr Trimble said key location signs to watch for in a potential fixer-upper include local infrastructure growth – such as nearby road and rail links – as well as the gentrification of adjacent suburbs that can spill over into nearby neighbourhoods.
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Renovator delights are proving popular across SA where buyers can snag a bargain – as long as they aren’t afraid to roll up their sleeves. This Coober Pedy “fixer upper” recently sold for as little as $7500.
That said, renovator’s in regional and rural areas are also proving popular with buyers across SA.
A vandalised Coober Pedy house recently sold for as little as $7500, according to property records, four months after it failed to sell at auction.
The property had an original asking price of just $20,000 with the new owners now looking to get their hands dirty to restore the miners-style home into short-term backpacker accommodation.
It will be no easy feat though, given the home is in such a state of disrepair that it is impossible to tell how many bedrooms it once had.
The post ‘Blockheads’ turn ugly houses into Australia’s hottest property trend appeared first on realestate.com.au.
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