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The location of Jindabyne makes it an ideal year round location, with skiing in the winter and bushwalking, mountain biking, white water rafting and canoeing, horse riding and kayaking. This flexibility in the local activities available makes the town a popular choice for residents and investors.
Find out how you can buy or sell or find Jindabyne real estate with the experts at Forbes Stynes Real Estate.
Jindabyne and Surrounds
Jindabyne is a country town situated a couple of hours south of Canberra. In 1967 the town location was moved when the Snowy Hydro Electric Scheme’s Jindabyne Dam was completed and flooded. Jindabyne is also the principal accommodation centre for visitors to the nearby Kosciuszko National Park. Thus Jindabyne offers an excellent opportunity for year round enjoyment with its lake and proximity to the NSW ski resorts – namely Perisher and Thredbo.
Jindabyne town has a permanent population of approximately 3,500 people. Many residents have come for lifestyle reasons and to escape the pressures of city life. One of the principal industries is tourism; it is seasonal in nature with the greatest demand for accommodation being during the ski season, which goes from Labour Day weekend in June to the Queen’s Birthday weekend in October.
From its humble beginnings as a rural farming centre, Jindabyne now has 2 hotels, 7 motels and approximately 12,000 tourist beds, as well as service stations, licensed restaurants, recreational sporting clubs, a cinema and a complete array of shopping facilities. In 1996 the new regional office of the National Parks and Wildlife Service was relocated from Sawpit Creek adding to employment in Jindabyne town.
Jindabyne Real Estate market trends – 1999 to present
Over the past decade or so the market movements are outlined the Jindabyne residential and holiday real estate market remained stable during 1999/2000 with continued demand for houses in the $150,000 to $180,000 price bracket. Apartments and townhouses were oversupplied and the market was generally soft, particularly for older units; demand for new luxury units over $200,000 firmed and values increased. Over the next couple of years this trend remained in place through 2001/2002 with house and luxury unit values rising.
There was strong demand for all market sectors in 2003 on the back of robust economic growth and rising property markets in the capital cities. Houses and luxury units remained in short supply with values continuing to rise. House values ranged from $200,000 to $450,000 and luxury units from $230,000 to $310,000. The market for older units also increased, thus running down supply, and putting upward pressure on values.
During 2004 Jindabyne property values continued to rise due to a lack of supply. There was a critical shortage of vacant land resulting in rapidly rising values. House values increased in range from $280,000 to $570,000 and luxury units from $275,000 to $430,000.
In 2005 the shortage of vacant residential land was addressed with the release of “High View Estate” Stage 1 and “Alpine Sands Estate”. Stage 1 in “High View Estate” comprised 22 lots and sold within the value range of $180,000 to $220,000. “Alpine Sands Estate”, which had been under development for a number of years, was released with 13 lots in Stage 1 and 18 lots in Stage 2. The lots sold at values ranging from $160,000 to $200,000. House and luxury townhouse values continued to be steady.
The market slowed during 2006/2007 with diminished buyer enquiry and increased property supply. A low level of buyer activity was exacerbated during late 2008 when the GFC struck, and buyers lost confidence; an oversupply of property for sale resulting in values slipping further south.
The market for strata units continued in a soft fashion during 2009 with a continuing over supply of properties for sale. There was some market revival for residential dwellings running down supply and the market started to recover. However, the release of ‘Highview Estate’ Stage 3 created competition in the residential market which weakened demand for established dwellings particularly at the lower end of the market below $400,000. Research and studies obtained from local valuers indicate a steady dwelling market during 2010 due to increased supply in the lower price range due to more competitive pricing for construction of new homes. .
Sales of strata units have weakened in 2011 with diminished buyer enquiry and increasing supply putting downward pressure on values. Weaker discretionary spending continues to affect the local market as the Australian tourism industry is affected by lower demand as consumers reign in their spending and raise their savings rate.
The Jindabyne property market is a relatively small market with limited transactions where properties offered for sale can experience extended selling periods of over 6 months. As many properties are owned by absentee investors the trends in the capital cities have a strong effect on local prices.
Lake Crackenback Real Estate
Lake Crackenback is ideally located in the magnificent Snowy Mountains and is sometimes known as the gateway to the Snowy Mountains. It’s situated between the popular skiing at Thredbo and Perisher. Forbes Stynes have properties and Lake Crackenback realestate from cabins and apartments to vacant blocks of land ready for you to build your dream home. Enjoy the relaxed country lifestyle of the mountains and have access to some of the most beautiful scenery in the area.
Thredbo Real Estate
The village atmosphere of Thredbo means that real estate in this area is an attractive proposition. There is something in Thredbo for everybody with access to great skiing during the winter and hiking during the summer months. Forbes Stynes has Thredbo real estate available to suit all budgets from snug one bedroom apartments to modern properties with luxurious fittings and facilities.
Perisher Real Estate
With seven mountain peaks, 50 lifts and 1,245 hectares of skiing, Perisher real estate is hot property! This is Australia's pre-eminent mountain resort, providing international class facilities. Perisher Valley, Guthega, Blue Cow and Smiggin Holes form the Perisher Ski Resort.
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