The Snowy Mountains region has continued its incredible market growth with latest Domain Report  figures citing a 47.7% increase in house and land values. Raine & Horne Snowy Mountains have had a record year, in a market unseen in its history.  

Despite the housing boom losing momentum in most of the state, the Snowy Mountains region is still riding the high of the previous 12 months. Raine & Horne Snowy Mountains sold a property for $905,000 in June, which had sold for $715,000, just six months earlier. Mr Ben Clancy of Raine & Horne Snowy Mountains has noted the bulk of the interest is out of postcode buyers, suggesting the treechange trend of the pandemic has remained. 

“The past year has been unlike anything I have ever experienced, with people buying properties sight unseen for prices in the million-dollar range,” said Mr Clancy.

The quality of enquiry has been consistent, with the bulk of buyers having no problems with finance and looking for lifestyle properties, to use for holiday rentals and for personal holiday homes. 

Mr Travis Wentriro, Network Manager said “the growth in regional markets, like the Snowy Mountains, is indicative of a changing mindset of Australians. Where for many, living in Jindabyne would not be feasible with work commitments, the work landscape has shifted entirely.”

The shift into mountain living was highlighted in Knight Frank’s annual Ski Report, where 18% of global buyers said they were more inclined to purchase a ski home due to Covid-19.   Mr Clancy can attest to this, having fielded enquiries from interested parties across the country. 

Mr Clancy has noted a slight cooling of the market in conjunction with rising interest rates but is still garnering interest for properties within the median unit price of $650,000. Unlike many markets that had a meteoric rise and cooldown, the Snowy Monaro region’s growth is set to continue with the Snowy 2.0 hydroelectric project, promising 4,000 jobs to the region. 

Mr Wentriro continued, “the Snowy 2.0 is a great opportunity for new business in the region, as more and more people flock to the lifestyle benefits of the Snowy Monaro, and the job prospects of the project.” 

For all your residential sales and property management needs in the Snowy Mountains, call Raine & Horne Snowy Mountains on 02 6456 2999.