WHEN popular comedian Dave Hughes bought the five-bedroom home on The Block last year he insisted it was a "bargain" and an investment that would remain in the family for years.

But he has since discovered the home in Elsternwick in southeast Melbourne isn't worth the $3.067 million price tag.

Hughes told Stellar magazine on Sunday that the bank valued the property at "much less".

"I went to get a bank loan the other day and they haven't valued it the same as I paid for it, which is fine, but annoying because there were five bidders," he told Stellar.

He said it was "enough less that it made me annoyed".

"For f*ck's sake ... I just think it's good value and in a few years' time people are going to be going, 'Well, f*ck, didn't he do well with it!' I am playing the long game, all right? That is what I say to my wife, anyway."

‘It’s a bargain!’ ... Hughesy with Josh and Elyse after purchasing their home.
‘It’s a bargain!’ ... Hughesy with Josh and Elyse after purchasing their home.

The final price for the property at 46A Regent Street was $447,000 over Josh and Elyse's reserve of $2.62 million. The sale put them in the lead ahead of the other four couples - and secured them an extra $100,000 in prize money from Channel Nine.

The bank valued the Elsternwick home less than the $3.067 million price tag.
The bank valued the Elsternwick home less than the $3.067 million price tag.

When Hughes told his wife Holly that he wanted to buy the house, she had one rule: keep it private.

Needless to say, she wasn't impressed when she saw her husband on the TV screen during the show's finale after the show's host Scott Cam announced the popular comedian was the proud buyer.

"The only thing I asked was, 'If you are going to bid can you please just do it through an advocate so we can keep it private'," Holly told her husband's co-host Kate Langbroek on their KIIS drive show.

"I didn't think he'd end up buying it either."



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