In­ter­est in Din­ner Plain, Mt Hotham

Mt Hotham Falls Creek - - FRONT PAGE - By JOHN CAS­TRAN of John H Cas­tran Pty Ltd www.cas­tran.com.au

THE real es­tate mar­ket at Din­ner Plain and Mt Hotham has been quite re­silient, how­ever, the bush­fires that ef­fec­tively closed the Great Alpine Road for ap­prox­i­mately four months to the gen­eral pub­lic has cre­ated a re­duc­tion in the num­ber of sales.

For ex­am­ple, in the 12 month pe­riod that ended June 2011 a to­tal of 30 sales were trans­acted at Din­ner Plain.

In the 12 month pe­riod end­ing June 2012 there were 35 sales, how­ever, for the cur­rent pe­riod end­ing June this year, there have only been 15 sales and this is a di­rect re­sult of the road be­ing closed in our strong sell­ing pe­riod.

The sales at Mt Hotham have very closely fol­lowed the to­tal num­ber of sales that have oc­curred at Din­ner Plain and there­fore it can be seen that un­der nor­mal cir­cum­stances there are about 50-60 sales per year be­tween both re­sorts.

The strong­est part of the mar­ket have been prop­er­ties in the bracket of $200,000 - $500,000 and th­ese gen­er­ally in­clude well pre­sented apart­ments and free­stand­ing cab­ins.

The me­dian sale price of smaller free­stand­ing cab­ins and apart­ments is ap­prox­i­mately $280,000, with three and four bed­room prop­er­ties’ me­dian sales of ap­prox­i­mately $500,000.

Va­cant al­lot­ments at Din­ner Plain now sell in the or­der of $65,000 - $120,000 de­pend­ing upon size and ori­en­ta­tion.

Land prices have lifted them­selves from the dol­drums of 18 months ago where land was sell­ing from $35,000 - $45,000 but there has now been al­most a 100 per cent in­crease in the sale price of land.

Sig­nif­i­cant trans­ac­tions that have oc­curred in the Din­ner Plain/Mt Hotham area in­clude High Plains Lodge which was sold last year and is now ten­anted by the lift com­pany for key per­son­nel dur­ing the win­ter months and this con­sti­tutes some 18 rooms with the guys from the Gen­eral Store tak­ing over the food and bev­er­age ar­eas of the lodge.

There is lit­tle doubt this is a new and sig­nif­i­cant tourism fea­ture to Din­ner Plain and has been very well re­ceived.

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