Hills alive with buyer potential
Investors are getting their skis on, lured by low prices and interest rate cuts.
Victorian alpine properties (Dinner Plain, Mount Hotham, Mount Buller
and Falls Creek) prices have dropped by 60% in some areas over the past 6 years. The market is ''bouncing along the bottom''
As well as the impact of the (1) sluggish economy, (2) the January bushfires at Mount Hotham and Dinner Plain are still causing problems, with significant roadworks required to repair areas damaged in landslides that occurred when heavy rains fell on the denuded landscape (3) The high Australian dollar has dampened the overseas demand for alpine property
Location is important for Mount Hotham and the other resorts. ''You need to be somewhere close to all the action where you don't have to go far to get to the ski lifts,''
Buying in the snow: what you need to know
Park it:Ensure your property includes car parking.
Loan issue:
Mount Buller, Falls Creek and Mount Hotham properties are leasehold, which can make securing a bank loan difficult.
Clear head:
If it's an investment, don't be swayed by emotion.
Lift access:
If buying at a resort, ensure the property is close to the ski lifts.
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