Thredbo Property

Discussion in 'Snow Talk' started by SkiandRideGuide, Jan 14, 2012.

  1. SkiandRideGuide

    SkiandRideGuide Just Registered

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    Noticed things have been very flat for quite sometime and yields are looking much better.

    Looking at 2brm places myself now and interested to hear what peoples returns are after management fees, body corporate etc... are they getting close to 6.5% or still way off?

    Also, what sort of net earnings would an entry level 2brm yield, being told $24,000 p.a - sound about right?
     
  2. Nozawaman

    Nozawaman Addicted Member
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    [​IMG] [​IMG]

    Why would you bother with Australian snow properties ?????
     
    #2 Nozawaman, Jan 14, 2012
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  3. SkiandRideGuide

    SkiandRideGuide Just Registered

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    I live in Canberra - spend a lot of time up there both in summer and winter, what would be an investment property now, would hopefully be a holiday home in the future.
     
  4. Angus_McCrory

    Angus_McCrory Old And Crusty

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    Looking through the RE agents when there last week and still think properties are over prices by between 25% and 50%. In the words of Dale Kerrigan........
     
  5. SkiandRideGuide

    SkiandRideGuide Just Registered

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    Dale Kerrigan: The real estate agent said 'location location location' and we were right next to the airport!
     
  6. Angus_McCrory

    Angus_McCrory Old And Crusty

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    Nah, that's Cooma..... more like "Tell him he's dreaming......"
     
  7. main street

    main street Sun Peaks Resident
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    What is your initial capital investment ?
     
    #7 main street, Jan 14, 2012
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  8. main street

    main street Sun Peaks Resident
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    Hehehehe,.... This ^^^^^
     
    #8 main street, Jan 14, 2012
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  9. gareth_oau

    gareth_oau Old And Crusty
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    I don't think Thredbo is ever "investment" grade, unless you stick the word "lifestyle" in front of it.

    Think of it more like a holiday home, that the government and other holiday makers are financially assisting with.

    I'm hoping to buy a Thredbo property eventually, but a northern hemisphere one as well. Whilst others may laugh at you, its not snowing in Canada etc in July/August etc.

    My plan, once I've finished with work is to have one north, one south and spend around 6 months a year on snow, somewhere.
     
    Ozgirl likes this.
  10. Nozawaman

    Nozawaman Addicted Member
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    I would seriously re consider this.......after skiing your butt off for Northern season, a beach destination is more appealing especially when you hit your 50's
     
    #10 Nozawaman, Jan 14, 2012
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  11. ODNT

    ODNT Part of the Furniture

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    Went down this road, outgoings too much + where auz ski resorts are situated , meaning its just for holiday tenants. Not worth it imo. Too patchy . If you dont need to rely on a return to fund it ok , otherwise your out goings will kill you.
     
  12. benchives

    benchives Part of the Furniture
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    ^^^^ x googolplex
     
  13. Apresski

    Apresski Pool Room
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    I owned a ski flat for 11 years, during the halcyon days, where we achieved 13 weeks rental and costs were reasonable. The capital gain was negligible, but we had free skiing for 11 years and a good income. however today the occupancy rate is much less and the costs much higher. Unless you plan to spend summers there, or the income is of little concern, you are better joining a lodge and investing your capital elsewhere to fund your holidays.
     
  14. ODNT

    ODNT Part of the Furniture

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    ^^^^

    nuff said
     
  15. Snow Blowey

    Snow Blowey Part of the Furniture
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    IMO better to put your money elsewhere for now. If you still want it as a holiday place in ten years buy one then after your money has earnt more.
     
  16. D-eye

    D-eye Photographer and skier
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    I've considered Berridale as a location to base myself out of on weekends a few times over the years. It wouldn't be used as an investment though, just a holiday home.
     
    #16 D-eye, Jan 14, 2012
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  17. skichanger

    skichanger Dedicated Member
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    I'd vote for Berridale! VBG! We moved there 5 years ago. Very affordable, 45 mins to ski and no winter late night noise.
     
  18. main street

    main street Sun Peaks Resident
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    #18 main street, Jan 15, 2012
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  19. Hobber

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    Jindabyne Equestrian Estate is up for sale...
     
  20. Angus_McCrory

    Angus_McCrory Old And Crusty

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    My point exactly; between 25% and 50% over piced. Doesn't stop some cashed up fool from biting though, thus perpetuating overpriced Oz property values.
     
    #20 Angus_McCrory, Jan 15, 2012
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  21. skichanger

    skichanger Dedicated Member
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    Over a million for a 2 bedroom place! I am feeling really good about my house in Berridale.

    If you reallly want to stay up there join a club. In one I know about, for less than $10k membership, the member can stay for the season for about $3k. Associates cost more.
     
  22. Angus_McCrory

    Angus_McCrory Old And Crusty

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    ^^ This...

    Unless you live withing a 2-3 hour drive, it is just not worth having your own place in the mountains. Our beach house is 2.5 hours drive from home so easily do-able for weekend trips. 5-6 hours to the snow house? Guarantee you won't use it much as a weekender. Also, our beach house gets rented for 10 plus weeks plus another dozen weekends per year. Whilst Thredbo was quite busy last week I say the houses around Crakenback Drive where we were staying would be pushing 50% occupancy
     
  23. Nozawaman

    Nozawaman Addicted Member
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    #23 Nozawaman, Jan 15, 2012
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  24. ODNT

    ODNT Part of the Furniture

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    That looks great with good income potential. But then again Thredbo has a 1 bedder, 1 bath & 1 car space for same price at squatters inn. Its a hard one. [​IMG]
     
    #24 ODNT, Jan 15, 2012
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  25. gareth_oau

    gareth_oau Old And Crusty
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    because Japan is an 8 hour flight, plus a 6 hour bus ride, plus a passport away.

    Thredbo might be as little as a 2 hour drive.

    And Japan doesnt snow in July
     
    #25 gareth_oau, Jan 15, 2012
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  26. Angus_McCrory

    Angus_McCrory Old And Crusty

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    Sorry Gareth, no mining businesses within a 2 hour drive of Thredbo that will support your conspicuous consumption.
     
  27. gareth_oau

    gareth_oau Old And Crusty
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    not for me, but there are a few living in Canberra.

    I'm just going to have to wait a few more years until my conspicuous consumption can be maintained without income
     
  28. Apresski

    Apresski Pool Room
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    The interest on $700k would pay for a few weekends at Thredbo
     
  29. Nozawaman

    Nozawaman Addicted Member
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    Reckon you would get more return on the Japanese place than the Thredders one.
     
    #29 Nozawaman, Jan 15, 2012
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  30. D-eye

    D-eye Photographer and skier
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    Majors Creek will be not far off it once it gets going.
     
    #30 D-eye, Jan 15, 2012
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  31. skichanger

    skichanger Dedicated Member
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    #31 skichanger, Jan 15, 2012
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  32. FlatLander

    FlatLander Active Member

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    No one should you the words 'invest' and 'ski resort' in the same sentence. Doesn't happen any more and never should have. Everyone on these forums talk about sking being tooo expensive. One of the biggest factors is accom = mum/dad investor buying unit as 'investment' expecting to cover all outgoings (incl rates and interest/mortgage payments) by renting it out during winter = price gouging.
    Similarly why should we be paying excessively high prices for food etc on mountain, oh sorry I forgot, thats so the on-mountain business operators can make 12 months income in 16 weeks. Maybe they should try working for 12 months like most businesses.
    Also alpine real estate prices are falling quickly, about 30% in 2 years. Over the next few years I expect people to vote with their feet, dont expect alpine visitation to increase anytime soon, not until on mountain prices come down to a reasonable 'value for product'.
     
  33. gareth_oau

    gareth_oau Old And Crusty
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    now if you want to go skiing there in the middle of January- perhaps a nice compromise on flatter pricing all year round can be reached?
     
    #33 gareth_oau, Jan 16, 2012
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  34. main street

    main street Sun Peaks Resident
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    Yep,..... At 700K it's an utter joke.

    Lets see,..... I'm looking at making an offer circa 120K on a 600+sq foot 1 bed, 1 bath, full kitchen, large balcony & secure underground car space in a slopeside building with ski in/ ski out.

    How many airfares would the left over 580K buy ?? [​IMG]

    Lets not even talk about snow quality or length of season..... [​IMG]
     
    #34 main street, Jan 16, 2012
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  35. gareth_oau

    gareth_oau Old And Crusty
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    1 bed MS?

    Where are you proposing to sleep when I visit???????????????
     
  36. Hobber

    Hobber Addicted Member

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    Which one (will offer $125k [​IMG] )
     
    #36 Hobber, Jan 16, 2012
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  37. main street

    main street Sun Peaks Resident
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    [​IMG]
     
    #37 main street, Jan 16, 2012
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  38. Hobber

    Hobber Addicted Member

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    Crikey - I just started looking at property there - cheaper than Jindabyne.
     
  39. main street

    main street Sun Peaks Resident
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    I did say the place has a balcony..... [​IMG] [​IMG]
     
    #39 main street, Jan 16, 2012
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  40. main street

    main street Sun Peaks Resident
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    This is why I nearly wet myself when people get all exited about buying snow property in Aus.

    Oh,..... & the market here still has another 10 - 15 % to drop yet before it hits a flat period..... Likely to last 5+ years.

    IMHO. [​IMG]
     
    #40 main street, Jan 16, 2012
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  41. skiflat

    skiflat Just Registered

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    Indeed - Good timing for me in about 5 years [​IMG]
     
    #41 skiflat, Jan 16, 2012
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  42. main street

    main street Sun Peaks Resident
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    I'd rather go to a casino & "drop it all on black" than assume I'll get a capital growth return out of an Aus ski property...... the casino has better odds.
     
    #42 main street, Jan 16, 2012
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  43. Hobber

    Hobber Addicted Member

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    Yeah - mortgage be gone by then... maybe...
     
    #43 Hobber, Jan 16, 2012
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  44. main street

    main street Sun Peaks Resident
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    Considering resort property here has already dropped circa 60% (with the exception of Whistler so far,..... but it is starting to bite hard there), the chances of a plummet in Aus prices are right up there.

    The only "safe" (sort of) end of the market has been the ultra high end (2 mil ++ ),.... it hasn't seen the huge drops that other parts of the market have seen, but it has softened. There are still a few out there with more money than brains. [​IMG]
     
    #44 main street, Jan 16, 2012
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  45. piolet

    piolet Old And Crusty
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    is there any turnover at that end or maybe those folks paid with cash and don't have to sell?
     
    #45 piolet, Jan 16, 2012
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  46. main street

    main street Sun Peaks Resident
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    In reality, the only ones selling at that end are the ones that have to.
     
  47. climberman

    climberman CloudRide1000 Legend
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    it's not freehold in Thredbo either is it ?
     
  48. Hobber

    Hobber Addicted Member

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  49. FlatLander

    FlatLander Active Member

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    [​IMG]

    Sorry that wasn't quite what I meant....Why should the customer pay inflated prices so that a Unit owner or business owner can recoup 12 months costs in 16 weeks.

    If you want to purchase real estate in the mtns then expect 25% of a years return (even if you can get 100% occupancy) for the season. Dont purchase and expect the customer to pay a premium for your folly. Only buy if you can afford to carry the liability. Same applies for businesses.

    In years past, visatation was always 'relatively' stable give or take a bit. Now we are seeing customers simply not turning up because the value is not there, service is poor etc etc.Those of us with 'the addiction' will find every/any way to save money - stay off mtn, take food and beer (+ 3 extra for the drive off the mtn).
    I believe the glory days have passed. 1 or 2 more poor visatation years and they will be giving away real estate. Look at Dinner Plain prices!!
     
    #49 FlatLander, Jan 16, 2012
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  50. skiflat

    skiflat Just Registered

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    Falls Creek had some cheap apartments.


    Oh wait Body Corporate......................