By LACHLAN CASTRAN, Castran Real Estate
DINNER Plain and Mount Hotham continue to attract strong buyer interest across a diverse range of property listings, from vacant land to fully improved chalets and apartments.
Despite the cost pressures challenging other markets, these alpine destinations have achieved solid results as we continue into winter.
Based on buyer feedback, there are three clear driving factors in the current property market: the unique nature of the assets in the High Country, their year-round usability and the opportunity to blend investment with lifestyle.
Firstly, the unique nature of the properties in the High Country appeals to buyers looking for both investment and lifestyle benefits.
These assets are no longer just seasonal; they are genuinely used all year round, thanks to the plethora of activities available during both winter and summer seasons.
This year-round appeal ensures consistent interest and occupancy, enhancing their investment potential.
Secondly, strong holiday bookings have driven the rental market.
Excellent occupancy rates were recorded during the July school holiday period, and the outlook for the remainder of the season remains positive.
This steady demand for holiday rentals translates to reliable rental income for property owners, making these areas attractive for individuals and families wishing to invest.
Lastly, buyers are keen to secure assets that can be enjoyed by all generations within a family.
The High Country is a highly sought-after location for families to create lifelong memories, from children to grandparents.
The combination of outdoor activities, the beauty of the mountains, and a pristine environment makes it a perfect family getaway.
We are also seeing new emerging interest from non-snow riders wishing to break into the market to get in on the action.
Recent key sales and listings have made a positive impact on the market.
Notable transactions include a vacant allotment at Dinner Plain, known as Lot 5 Great Alpine Road, selling for $700,000, setting a new record for 2024.
Additionally, the introduction of ‘Revelstoke,’ known as 2B Skyline Terrace, to the Hotham market has generated significant interest.
This brand-new luxury chalet, comprising five bedrooms and situated on a freehold allotment, is currently the most expensive property listed.
The current activity in the property sector excites us, and we look forward to seeing how the market evolves over the middle portion of the season.
Castran is proudly celebrating 40 years in the mountains in 2024 and continues to be the leading agency in the Victorian Alps.
Drop by the Dinner Plain office or visit an on-mountain open house to say hello today.
In conclusion, the rising buyer interest in Dinner Plain and Mount Hotham is driven by the unique year-round usability of the properties, strong rental demand, and the desire for family-friendly assets.
These factors, coupled with recent notable sales, underpin the robust and appealing nature of this special region within the Victorian Alps.
