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‘It really is about timing’, says The Block host as property prices see record drop

The national median house price has fallen by one per cent for the quarter, sitting at just over $800,000.

Experts say tighter lending standards and rising stock levels are having an impact.

House prices in Sydney have reported their largest annual fall since 2008 with the Upper North Shore and Inner West seeing the biggest falls.

Aussie icon and The Block host Scott Cam, says “it really is about timing”.

In 2011’s season on the show, only one of the properties sold, but “it was almost the perfect time to have bought,” says Ross Greenwood.

Scott says as much as The Block is about construction, “it’s also very much a real estate show”.

“You can add all the bells and whistles and put in the great gear… but if people aren’t in the money and they’re not in the market to buy, it can fall flat.”

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