DURING 2020 there were significant factors that could have derailed the local Jindabyne property market but instead it has thrived. We spoke to Gordon Jenkinson from Kosciusko First National for his real estate thoughts.
“Median house prices in Jindabyne rose 6% to $661,450 in the September to November quarter and property is up over 10% since the start of 2020,” said Gordon.
This follows on from a similar rise in Jindabyne property prices in 2019, defying the dire predictions from some economists and social commentators in March and April after the bushfires of summer and the lockdowns at the start of the Covid-19 pandemic.
“The pandemic accelerated a trend of Sydneysiders in particular moving to regional areas that provide the amenities of schools, shops, recreational facilities and infrastructure. With good internet and mobile phone reception it has allowed them to work remotely and that suits their particular lifestyles.”
Jindabyne is blessed to be surrounded by natural geographical features including the Kosciuszko National Park which encompasses the highest mountains in the country and unique flora and fauna.
Much of the park is covered by snow in the winter months providing attraction for snow sport enthusiasts and nature lovers while the man-made lakes of the Snowy Scheme provide amenities for the fishing fraternity as well as a number of water sport enthusiasts.
These attractions that people once visited for holidays are now becoming their own backyard as they move to the town. It is also a great life for their kids.
“The Snowy Mountain Special Activation Precinct will see tens of millions of dollars spent in the area improving vital and much needed infrastructure. The recent announcement to shift the Jindabyne Central School from its position in the middle of town to an ‘education hub’ located at the Sport & Recreation Centre, which has world class sporting infrastructure available for students is applauded.”
Not to be outdone, the Snowy Mountains Grammar school has released its exciting masterplan for the future ensuring Jindabyne has world class education facilities to temp new families to make the move to the region.
A growing attraction in the area is mountain biking with millions of dollars planned for the extension of the existing trail network, this is in turn is attracting a younger clientele looking to purchase property close to these trails.
“Significant sales for Kosciusko First National in 2020 include the Truffle Farm on the Alpine Way, a 40ha lake front property, 9 out of 10 vacant lots in the Willow Bay Estate and the complete sale of the 51 lot Kunama Ridge subdivision. Property has continued to move including stages 6C and 8 at Highview Estate, all available lots at the Woodbury Park subdivision as well as several rural properties with many sales now above $1m.”
“We were further encouraged by an open negotiation auction in December which had 12 bidders vying for a unit in town that sold for $409,000, some $79,000 above reserve. That shows the strength of the market.”
Properties that offer great views of the lake and mountains or have special features are in strong demand as are vacant urban lots, small rural lots close to Jindabyne and well-priced apartments or free-standing homes.
Gordon said his sales team at KFN offer a free appraisal service and welcome owners considering selling to contact his office.
“It is a great time to sell,” said Gordon.