Spike in property sales as the Alpine region grows in popularity
Good news for Mount Hotham as a growing interest in the Alpine area sees a strong rise in property sales, whilst Hotham continues to grow, develop and attract visitors to its year round resort.
¬†Zirky Real Estate is at the forefront of the Mount Hotham property boom, holding close to 90 percent of property sales on the mountain, and continues to see the growing popularity of the area.
¬†Over the past few years, Zirky Real Estate has experienced a substantial increase in activity in the Mount Hotham market. Enquiries and turnover have picked up considerably, with the number of sales having increased by nearly 50 per cent a year, between 2014 and 2016.
¬†Manager of Zirky Real Estate Rob Ford said that the concentration of sales was happening in the entry to mid-range properties, and properties that looked appealing had a greater turnover also.
¬†‚ÄúThe majority of the increase in sales has been in the entry point to mid-range properties with high end sales remaining steady,‚ÄĚ Mr Ford said.
¬†‚ÄúWe have noticed that whilst there has been previous saturation in the market, properties that are well presented or have been refurbished turn over faster and at a premium,‚ÄĚ he said.
¬†Mr Ford said that the steady improvement to the Mount Hotham market is due to various factors which include competitive prices, the natural economic cycle and general increase in buyer confidence in the alpine market.
‚ÄúSo far, 2017 has continued at the same tempo as 2016, and, we expect, with the increase in turnover, an increase in prices will not be far behind,‚ÄĚ Mr Ford said.
10 February 2017
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