The Block serial buyer Danny Wallis has revealed he is planning to sell all his Victorian investment properties, after offloading a St Kilda house from the show’s 2019 season.

When the 38A Grey St home was listed in October, Mr Wallis said a major motivation for putting the property on the market was a state government plan to change the land tax payment threshold from January 2024.

Under the changes, introduced under former Premier Daniel Andrews, homes owners will pay land tax if their investment or secondary property, such as a holiday home, is worth $50,000 or more, compared to the current $300,000 threshold.

Mr Wallis has spent more than $30 million purchasing 11 individual Block properties, including three homes from the show’s 2022 season set in Gisborne.

The Melbourne IT entrepreneur said he was planning to sell his Victorian investment homes because otherwise he would be facing a massive land tax bill.

“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,” Mr Wallis said.

“I’m going to move all my investments out of Victoria.”

Mr Wallis said he was planning to invest interstate instead although it might take around two years to sell his entire Victorian portfolio.

“It’s dumb there’s a rental crisis and I’ve got to sell when so many people are looking for homes,” he added.

“I know so many landlords who are selling because of the land tax.”

Mr Wallis described residential tenancies regulations the state government introduced in 2021 as another reason for him selling up.

The regulations state that a rental provider cannot unreasonably refuse a tenant’s request to paint a home, plant a vegetable garden or install a flyscreen.

“I’ve got a tenant who painted their bedroom black, including the ceiling,” Mr Wallis said.

Mr Wallis’ Grey St property sold last month for an undisclosed price after being listed with a

$3.2m-$3.5m price tag.

However, industry sources put the sale price at $3.5m.

Mr Wallis paid $3.374m for the four-bedroom abode.

The three-storey home was renovated by Block contestants Mitch and Mark, who now host TV show Location, Location, Location.

Featuring multiple living zones including a formal lounge, central courtyard with a barbecue kitchen and rooftop terrace with a second barbecue, the house also boasts a lift, blue carpets, marble finishes and a suspended oak staircase.

WHITEFOX Real Estate sales director Peter Zervas said the home sold a week before expressions of interest closed, to an owner-occupier.

“They loved the ability to entertain, the multiple entertaining areas inside and out and the views,” Mr Zervas said.

He declined to comment on the price but said the property attracted interest from interstate and across Melbourne.

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