New developments in the Kosciusko National Park in Thredbo and Perisher generally are constructed during the summer, due to climate considerations and also because of stautory regulation against building in the winter time. It's very difficult to ask Australian builders to work in the snow; their colleagues in the northern hemisphere have to do it all the time! Thus occasionally we are able to offer pre-release of some projects; the advantage to the potential buyer is that there may be room for tailoring the finish of the property under certain circumstances.
Outside the park, in Lake Crackenback and Jindabyne, building work is happening all year round; although it is true that a number of our local trades people are involved in seasonal work such as snow cat slope grooming, ski instructing and the like. Just another example of the lifestyles that some of the local residents choose.
The Snowy Mountains has seen many new developments in Thredbo and Jindabyne, and there have been over 50 new houses constructed at lake Crackenback. And, in Perisher, tenders for the 800 bed development close at the end of October, 2009; there will be some very exciting developments as 2010 and 2011 unfold.
As 2011 has unfolded, the holiday real estate market has trended to a subdued state with investors exercising caution in their discretionary purchases, as continuing debt concerns in Europe, and a growing deficit in the USA have pulled against the more positive outlook in Asia leading to high volatilty in stock markets world wide; an unsettling time for all property investors. Nevertheless we remain positive for local investment assets with returns of over 10% gross on offer in Jindabyne. Well presented properties are available in Jindabyne from Forbes Stynes Real Estate who manage these through their Accommodation Jindabyne subsidiary.
Now in 2012, the news does not improve quickly, however with reduced prices taking effect we are noticing a bit more interest appearing, and why not? With two bedroom apartments at Lake Crackenback now selling around $300k there is amazing value for lifestyle seekers in the market. Plus prices have slipped in thredbo and you can buy a Squiatters Run Studio for only $365,000.