Why the property market is heating up at the snow this summer
It’s only January, but there’s plenty going on in the traditional winter playgrounds of the Snowy Mountains.
Whether it’s fishing on Lake Jindabyne or hitting the adventurous mountain bike trails at Thredbo, these days outdoor activities take place year-round.
But there’s also action of a different sort happening in the local property market.
Alex Cherry of Forbes Stynes Real Estate says alpine properties remain sought after.
“The property market has softened slightly since its peak 12 months ago, but demand remains strong, especially in locations like Thredbo, Perisher, and Lake Crackenback,” he says.
“These continue to be in high demand, with properties holding their value.”
Cherry says buyers are returning to the market now the summer holiday season has passed.
“We’re entering a prime selling period as buyers are eager to secure their mountain escapes before the winter season,” he says.
“But it’s not all about the snow, with a growing range of summer activities and events.”
The broadening appeal of the Snowy Mountains is attracting many buyers, particularly from Sydney and Canberra, who generally fall into one of two main camps, Cherry says.
“There are investors focused on short-term holiday rentals as well as younger families chasing a more relaxed, permanent lifestyle change,” he says.
“Locations like Thredbo, Lake Crackenback and Perisher have always been a lifestyle buy, given their proximity to the snow.
“But there’s good value in land releases in and around Jindabyne, with developers looking to build and investors ready to sell.”
Among the buyers in recent years have been Canberra agents Justine and Tim Burke of Luton Properties Western Creek, Woden and Molonglo Valley.
Justine says the journey that led to their decision to buy began some time ago.
“After not visiting for many years, we started going again with friends and began to really consider the possibility of acquiring a property,” she says.
“It probably wasn’t the greatest timing, but we bought a block in East Jindabyne during COVID – and an apartment in Jindabyne a year later.”
The Burkes later sold the block but refurbished and furnished the two-bedroom, two-bathroom apartment with a big balcony.
‘It’s in a great location,” Justine says. “We’re in the heart of everywhere and stroll to any of the amazing restaurants.
“Jindabyne is such a lovely location; the lake is gorgeous, and there are plenty of activities like skiing, horse riding, mountain biking and fishing.”
When the Burkes aren’t enjoying the alpine air, the apartment is earning income on the short-stay rental market.
Justine says her tip to anyone thinking of buying is to really focus on the reason for the purchase: lifestyle, relocation or investment.
Bronte Crawley, marketing executive at EVT’s Thredbo Resort, says the Snowies’ new appeal as a year-round recreational market has been a game-changer.
“The appeal has certainly increased with the growing popularity of mountain biking and alpine hiking,” she says.
“Summer unlocks more options for outdoor enthusiasts to experience Australia’s highest mountains – and visitor numbers have delivered major economic benefits to the region.”
Crawley says these numbers have been boosted since the pandemic, with people permanently relocating to the area.
“The work-from-home option has certainly contributed to the viability of a tree and/or ski change,” she says.
“Easy access to major cities like Canberra and Sydney position Thredbo and surrounds as a convenient holiday destination or somewhere to call home.”
Crawley says there is plenty to enjoy beyond snow sports and mountain biking, including golf, tennis, music and food festivals, and more.
“Or just enjoy the mountain air on your balcony with a good book – Thredbo is the perfect setting.”
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