Infamous Block buyer Danny Wallis has revealed he will be selling all his properties in Victoria after former premier Dan Andrews introduced new property laws.
Wallis told the Herald Sun he will be off-loading all his investment homes ahead of a land tax hike set for January 2024.
Under the new regulations owners must pay land tax on secondary property’s valued at $50,000 and over. The current threshold is $300,000.
‘I’m saving on Daniel Andrew’s land tax, I’m going to sell because I’m sick of the land tax going up and up and up,’ he said.
‘I’m going to move all my investments out of Victoria.’
The Block’s serial buyer Danny Wallis (pictured) has revealed why he’s selling all his Melbourne properties
Wallis said he is now planning to invest interstate and will sell his Victorian portfolio over the next two years.
‘I know so many landlords who are selling because of the land tax,’ he added.
Wallis has spent more than $30million buying property during final auctions on The Block over the last few years.
The high-profile businessman made headlines last year on Nine’s hit renovation show when he won the bid on Omar and Oz’s property.
The controversial Blockheads Omar and Oz walked away with $1.6million after Wallis entered into a bidding war with their ‘millionaire friend’ which forced him to buy the home for $5.6million.
Wallis later admitted he had ‘spent too much’ on the property, acknowledging the bidding war had just been a clash of egos.
Wallis told the Herald Sun he’ll be off-loading all his investment homes in Victoria after former premier Dan Andrews (pictured) introduced new property laws
He previously purchased Mitch Edwards and Mark McKie’s house for $4,044,444.44 in 2021.
Wallis also snapped up 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 and bought three apartments for just under $12million after purchasing properties in the 2016 and 2012 seasons.
Despite the furore he excites at the auction each year, Danny is a philanthropist who gives away many of the homes he buys to children’s cancer charities.
He has donated multiple homes to the My Room Children’s Cancer Charity and Ronald McDonald House for use by terminally ill children and their families.
Wallis has spent more than $30million buying property during final auctions on The Block over the last few years