The Block’s serial buyer Danny Wallis reveals why he is selling all his Melbourne properties as he blames Dan Andrews for the move
Notorious Block buyer Danny Wallis has revealed he will sell all his properties in Victoria after former Premier Dan Andrews introduced new property laws.
Wallis told the Herald Sun he will offload all his investment properties ahead of a land tax increase scheduled for January 2024.
Under the new regulations, owners must pay land taxes on secondary properties valued at $50,000 or more. The current threshold is $300,000.
“I'm saving on Daniel Andrew's land tax, I'm going to sell because I'm tired of land tax going up and up,” he said.
“I'm moving all my investments out of Victoria.”
The Block's serial buyer Danny Wallis (pictured) has revealed why he is selling all his Melbourne properties
Wallis said he now plans to invest interstate and will sell his Victorian portfolio over the next two years.
“I know so many landlords who are selling because of land tax,” he added.
Wallis has spent more than $30 million buying real estate in recent years at recent auctions on The Block.
The high-profile businessman made headlines on Nine's popular renovation show last year when he won the bid for Omar and Oz's property.
Controversial Blockheads Omar and Oz walked away with $1.6 million after Wallis entered a bidding war with their 'millionaire friend', forcing him to buy the house for $5.6 million.
Wallis later admitted that he had spent “too much” on the property, and acknowledged that the bidding war had merely been a clash of egos.
Wallis told the Herald Sun he will offload all his investment properties in Victoria after former Premier Dan Andrews (pictured) introduced new property laws
He previously bought Mitch Edwards and Mark McKie's house in 2021 for $4,044,444.44.
Wallis also purchased Tanya and Vito Guccione's for $3,800,000.01, and Kirsty Lee Akers and Jesse Anderson's for $4,401,523.67 that same season.
During the 2020 series, Danny also spent big, purchasing three condos for just under $12 million after purchasing real estate in the 2016 and 2012 seasons.
Despite the furor he makes at auction every year, Danny is a philanthropist who gives away many of the houses he buys to childhood cancer charities.
He has donated several houses to the My Room Children's Cancer Charity and the Ronald McDonald House for use by terminally ill children and their families.
Wallis has spent more than $30 million buying real estate in recent years at recent auctions on The Block