Auctioneer explains what will happen to The Block houses that didn’t sell

Two houses were not sold during the final of The Block on Sunday, leaving the contestants heartbroken.

And on Monday, auctioneer Damien Cooley weighed in on the drama.

Cooley told Nova’s Fitzy and Wippa show what will happen to the houses that have entered.

Two houses were not sold during the final of The Block on Sunday, leaving the contestants heartbroken. And on Monday, auctioneer Damien Cooley weighed in on the drama

“So they are going back to the market, they will most likely either be looking for a new buyer, or possibly one of the buyers who was there and didn’t make an offer,” he told the radio hosts.

“They are now negotiating and – I assume – will most likely have an asking price well above that published reserve.”

Cooley continued: ‘That reserve – considering it’s a low number that they want the participants to earn more than – I would have thought they should be looking for something between 4.3 and 4.7 or 4.8 million, something in that range. ‘

There was heartbreak, with two couples, Ankur and Sharon (pictured), and Dylan and Jenny, unable to sell their homes at auction

Pictured is Ankur and Sharon’s luxurious bedroom at their home

Two losing teams from the final of The Block: Tree Change are desperate for buyers for their properties after failing to sell in Sunday night’s final.

The couples, Ankur and Sharon, and Dylan and Jenny, failed to sell their homes at auction.

Their properties were passed on when they failed to attract a bidder above their reserve price of $4.08 million – with both offering highest bids of $4,075,000.

The couples continued to negotiate with their highest bidders after filming.

Their properties were passed on when they failed to attract a bidder above their reserve price of $4.08 million – with both offering highest bids of $4,075,000. In the photo: Dylan and Jenny

Pictured is the kitchen in Dylan and Jenny’s house

This is not the first time that a Block property has not been sold at auction.

In season four in 2011, homes of Josh and Jenna and Rod and Tania were let into Cameron Street, Richmond (Vic).

“It was a bittersweet day. We had an incredible high and some crushing lows for our Blockheads, all of whom worked the hardest I’ve ever seen to deliver these homes,” host Scott Cam said Sunday night.

“So they’re going back to the market, they’ll most likely either be looking for a new buyer, or possibly one of the buyers that was there who didn’t bid,” he told the radio hosts.

“As we have seen many times before, we will continue to negotiate with interested buyers to sell these homes, which are still for sale. I’m going for a positive result.’

Speaking of the shocking results, Julian Cress, co-creator and executive producer of The Block, said: “We are in a very volatile real estate market and we have seen large and unexpected rate hikes, including one this week.

“Although we had many registered bidders, there is clearly something in the market that has scared the market.”

“They’re negotiating now, and – I assume – will most likely have an asking price of some well above what that published reserve was,” he added.