MOUNT Buller continues to outperform all resorts with the highest price point.
There have been approximately 10 sales at Mt Buller since Easter.
It is interesting if you can compare the period 12 months prior to the above sales market activity has doubled from 2023 – 2024.
Before you scream out that the increased market activity is a result of a ‘tough market’ I can assure you this is not the case as the sales prices are still showing increases right across the board.
Dinner Plain and Mount Hotham markets remain very robust having recorded approximately 17 sales since Easter.
The most transacted resorts in Victoria are led by Dinner Plain, then Buller, then Hotham and then Falls Creek.
The Dinner plain transactions are a function of freehold real estate and true all season’s appeal.
We have however recently noticed concerns from stakeholders within the resorts that there is a fear with raising outgoings, as this may affect property values.
On a very interesting note, Alpine Resorts Victoria has just commissioned a report which highlights the value of the Alpine Resorts to the Victorian economy.
The brief summary of the Ski Industry to Victoria is as follows:
• $2.14 billion dollars in economic output annually, with $1.33 billion generated directly by visitor expenditure.
• 12,130 full-time equivalent jobs.
• The equivalent of $154 million in annual user and health benefits, including $137 million in improved mental and physical health of resort visitors.
• $820 million in annual existence benefits - that is, the value people gain from the presence of the alpine resorts even without direct use.
• $133 million in annual benefits for businesses and workers, consisting of $121 million in business profits and $12 million in benefits for workers.
• For every $1 of government investment in resort assets, this leverages $4 in private sector investment.
On a historical note, Castran is celebrating 40 years in the mountains this year.
Castran offers an end-to end real estate service advice including specialists’ alpine valuations, advisory, and market strategies regarding divestment and purchase of Alpine business and real estate.
