Domain Prestige - July 20, 2022

20 JULY / 2022

PRESTIGE THE BEST IN AUSTRALIAN PROPERTY

WINTER WONDERLAND The pinnacle of snow living

A UNIQUE AND ELEGANT LIFESTYLE ONLY 35 MINUTES FROM THE BRISBANE CBD Build your luxury architect designed contemporary home surrounded by a Greg Norman designed championship golf course, and an abundance of natural bush and walking trails, you can feel the peace and serenity.

Yet within less than 10 minutes’ drive of 11 leading schools, a major Shopping Centre, Mater Hospital, University Campus, Sporting venues, and electric commuter rail directly to Brisbane CBD.

Large Elevated Homesites Selling From $599,000

07 3814 5177 DRESSCIRCLE.COM.AU

B y K ATE FARRE LLY

Mount Buller Victorian Alps 6 Chamois Road $3.7 million J OSE PHIN E H U YN H

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Private sale Agent: Adams Estate Agents, Zach Adams 0437 199 500 There’s one word to describe Australia’s alpine regions in winter: Magic.

Overlooking Mount Buller’s Chamois ski run,

Some of life’s best memories are created at the snow. You’ll always

home of the Olympic training facility, this free-

remember the first time you saw or touched it, and it’s a firm to-do on

standing chalet is brilliantly located and has

everyone’s bucket lists. For a girl who grew up metres from the beach, the

space to accommodate 10 guests. Boasting

annual family pilgrimage to the NSW Snowy Mountains was an ironic

drive-in, ski-out access, it comes fully furnished

highlight of my childhood. You could argue that Australia’s snow towns are

with open-plan living spaces, keyless entry,

just as glorious as the beaches that put us on the map, and in the warmer

hydronic underfloor heating, a drying room and

months the villages still have plenty to offer – fishing, hiking, world-class

plenty of storage.

food, vineyards and microbreweries. You don’t have to say more to convince the locals who call the mountains home every day of the year, and you can be one too. Cosy up to this special Snowy Escapes edition of Prestige that will have you packing your bags and seriously considering a snow-change.

O U R COVE R 6 Chamois Road, Mount Buller Listed by Adams Estate Agents Photograph by Andrew Railton PAG E 4 Editor: Josephine Huynh josephine.huynh@ domain.com.au Editorial producer: Paige Tonna Group picture editor: Kylie Thomson Senior designer: Colleen Chin Quan Graphic designer: Nicole Gauci National magazine editor: Natalie Mortimer National managing editor: Alice Stolz Chief marketing officer: Rebecca Darley Chief executive officer: Jason Pellegrino Residential sales: Queensland Amanda Vaughan 0413 370 004 New South Wales Caitlin Hao 0430 938 214 Victoria & Tasmania Ray van Veenendaal 0438 279 870 Western Australia, South Australia & Northern Territory Jeroen van de Peppel 0427 292 797 Digital edition Visit domain.com.au/ digitaledition

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HOT PROPERTY

DESIGN DIGEST Winter trends heating up

FEATURE STORY Alpine market movements

LIVING IN Resort living year-round

THE PROPERTY INVESTOR Snow business or pleasure?

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East Jindabyne Snowy Mountains 10 Old Kosciuszko Road $2.7 million-$2.9 million

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Private sale Agent: Kosciuszko First National, Sally McCoullough 0484 322 214 Enjoy direct access to Jindabyne Lake and a 40-minute drive to Perisher or Thredbo ski resorts from this family-sized home. It comes with three living zones, a north-facing deck and a self-contained one-bedroom apartment.

Goughs Bay

Thredbo

Victorian Alps 405 Howes Creek-Goughs Bay Road

Snowy Mountains 1/Angala Woodridge

$2.75 million

$1.89 million

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Private sale

Private sale

Agent: McGrath Mansfield, Kat McDougall 0419 303 515

Agent: Forbes Stynes Real Estate,

You can see the snow capping Mount Buller from the comfort of home at

Michelle Stynes 0413 671 067

this 37.4-hectare property, which also claims idyllic rural and lake views. A

Opposite Thredbo’s Gunbarrel chairlift, this

one-hour drive from the slopes, the residence features spotted gum floors,

three-level apartment has high ceilings and a gas

a feature fireplace, double-glazed windows and a heated pool.

fireplace in the living room, plus a stone kitchen.

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DESIGN DIGEST

Winter warmers Be it gathering around the fireplace or running a bath, these cosy designs give you that snug and fuzzy feeling. C o m p i l e d b y PAU LIN E M O RRIS SE Y ON DISPLAY Crafted from leather, solid brass and powder-coated steel, the Umanoff Wine Rack by Menu is a gorgeous piece of mid-century modern design that beautifully displays eight bottles. It’s perfect for wine cellars or as a standalone statement piece. menuspace.com

FIRESIDE CHAT Exhibiting the perfect balance between style and technology, the Bathyscafocus suspended wood fireplace by Focus evokes the calming curves of nature. It’s designed to rotate 360 degrees, allowing its ambience to fill any corner of the room. oblica.com.au

KEEPING COSY

BATH TIME Doubling as a handmade piece of art, the Oasis Bath by

Danish designer and

Concrete Nation is made from polished concrete with a gentle slope to its

architect Kristina Dam

backrest for total comfort. It is made to order in eight colour options.

embodies Nordic

concretenation.com.au

minimalism, evident in her namesake brand’s range of tactile throws. Made from 50 per cent wool and 50 per cent alpaca, they feature calming colourways of natural beiges and browns. kristinadam.dk

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FEATURE STORY

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risp winter mornings, blankets of snow, crackling fireplaces and cosy apres-ski drinks … what could be more gorgeous than a holiday home at the snow?

A blizzard of Australians has felt the same during the COVID era, splurging on cool getaways at Jindabyne and Thredbo in NSW, Mount Hotham and Falls Creek in Victoria, and areas around Tasmania within striking distance of Ben Lomond and Cradle Mountain.

“White powder – of any kind – makes people do crazy things,” says Michael Henley of Henley Property, who sells in NSW’s Jindabyne and the Snowy Mountains.

“We’ve had huge demand over the past couple of years and we’ve seen prices soaring as more and more people choose this snow lifestyle.

“People go away and have an amazing vacation and they think, ‘Why can’t we enjoy this place for the rest of the year?’ In addition, there’s this push for people to get out of the cities and beaches, and sharks aren’t for everyone.

“We’ve seen Jindabyne, along with Byron Bay, named as the dominant high-growth suburbs in the whole of Australia,” Henley adds. “It’s been absolutely amazing.”

The latest Domain House Price Report confirms the stunning annual rates of growth, with the price of units in Jindabyne rising a massive 77.2 per cent over the past year, beaten only by Byron’s 104.3 per cent.

“This speaks to the demand and value of properties within close proximity of lifestyle factors, whether that be the ocean or snowfields,” says Domain chief of research and economics Dr Nicola Powell.

Agents around the snowfields have been hardpressed to keep up with the pace of buyers.

John Castran, of his eponymous agency which sells property in Victoria’s Mount Hotham, Dinner Plain and Mount Buller, says he’s never seen conditions like this in his 40 years in the real estate industry.

“If COVID was good for real estate in general, it was better for regional real estate and absolutely stellar for alpine real estate,” he says.

“We’ve been listing stuff and we receive offers within the hour and sell within 48 hours.

“I’ve sold more properties in the past 12 months than I did over the past 10 years. People still aren’t travelling overseas, and they realise they can go skiing and still use the places in the summertime too.

“It’s a generational thing as well; only 20 per cent of our buyers are getting finance as most of them are cashed up and buying it as an extra home. With working from home, they can stay there more often.”

The pandemic popularity of holiday homes in snow areas has been felt throughout the world.

The snowball effect in alpine regions The fallout from the COVID-19 pandemic has sharpened the appetite of cashed-up buyers for tightly held Alpine property.

B y SU E WILLIAMS

Knight Frank’s annual Ski Property Report found the proportion of global buyers more likely to buy a ski home as a result of COVID-19 increased from 11 per cent in 2020 to 18 per cent in 2021.

The French Alps ski resort of Courchevel commands the highest daily rental rate of ¤516 (about $770), while the Swiss ski resort of St Moritz recorded the strongest price growth of 17 per cent.

“This year has been an anomaly,” says Kate Everett-Allen, head of international residential research at Knight Frank.

“Supply constraints will ease as the COVID-19 landscape starts to normalise.”

But while the number of inquiries is starting to fall at many Australian cold hotspots, it isn’t – yet – indicating any white-out in demand.

“Inquiries are down 60 per cent but we’ve just lost the dreamers, who email us between 11pm

East Jindabyne Snowy Mountains 19 Acacia Place $2.75 million

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Private sale Agent: Henley Property, Michael Henley 0403 165 563

Mount Buller 3.1 Whitehorse Village Road, Mount Buller, above; 19 Acacia Place, East Jindabyne, top right; a&b/5 Cascades Close, Thredbo, above right.

and 4.30am,” Castran says. “They’ve left quality purchasers who are serious about buying.”

Domain data shows that house prices in Victoria’s Alpine Shire and the NSW Snowy Monaro region have risen at least 120 per cent over the past five years.

The median house price in the Alpine Shire rose by 126.4 per cent from $350,000 in March 2017 to $792,500 in March 2022, and in the Snowy Monaro 120 per cent from $300,000 to $660,000.

In Launceston, Tasmania – the easiest jumping-off point for the ski destination of Ben Lomond – the median house price has risen 80 per cent to $732,500 in the same period.

“Just about everything has at least doubled in price compared with three years ago,” says Michelle Stynes of Forbes Stynes Real Estate, who sells at NSW’s Thredbo, Perisher, Lake Crackenback and Jindabyne. “We haven’t seen any reduction in prices, either, and I don’t think many of our buyers will be affected by interest rate rises as mostly they buy with cash and this is their fourth or fifth place.

“We still have a lack of stock and a huge buildup of demand, and in Thredbo, for example, they’re not really building anymore. Like all holiday areas, things have just gone crazy.”

Meanwhile, prices are still climbing, Henley says, and spreading to areas further out, like Berridale, 30 kilometres from Jindabyne.

“It’s just like Aspen in the early 1990s when people would be priced out and buy property further away,” he says. “We see the whole area only growing, with plans for a world-class mountain bike park, golf courses – everything.”

The NSW government recently finalised the Snowy Mountains Special Activation Precinct master plan to drive year-round alpine tourism, focused on the Jindabyne town centre and areas of high tourism interest within Kosciuszko National Park, including the Thredbo, Perisher and Charlotte Pass ski resorts.

In Victoria, fresh snowfalls early in winter meant demand has shown no sign of slowing.

“We had significant snow on the Queen’s Birthday weekend, which fired everyone back into action,” Castran says.

Victorian Alps 3.1 Whitehorse Village Road $3.3 million

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Private sale Agent: Castran, John Castran 0411 502 424

Thredbo Snowy Mountains Knickerbocker, a&b/5 Cascades Close $3.5 million +

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Expressions of interest Agent: Forbes Stynes Real Estate, Michelle Stynes 0413 671 067

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Private Headland - Bermagui NSW 14ha with 800m Beach & Clifftop Frontage

4 minutes drive south of Bermagui village, the property is a blend of coastal woodland (40%) and pasture (appx 60%) with multiple paddocks watered from a huge dam.

“Nerimbah” once in a lifetime

A Landmark Property on Australia’s Eastern Coastline

14ha (35 acres)

* BOUNDARY LINE IS AN APPROXIMATE GUIDE

Nestling into clifftop gardens and enjoying stunning 180 degree views of this extraordinary coastline the

Exquisitely Executed, Architect Designed Home offers multiple living areas, chef’s kitchen with butler’s pantry, media room, 2 home-office rooms, gymnasium, 5 bedrooms, 4 bathroom (2 as ensuites), 2 powder rooms, studio/library and 3 car garage under roofline. A flexible design allows for 2 areas of the house to be used as self-contained guest wings when desired. Outbuildings include a purpose-built artists studio, farm sized workshed/ garage and shade house with potting shed. Grounds include a vegetable garden and orchard.

For more details - including a feature video or virtual tour - visit www.marshallandtacheci.com.au

Sale By Negotiation - Vicinity of $11,000,000 Further details - Phone: +61 (0) 2 6493 3333 Email: sales@marshallandtacheci.com.au

LIVING IN

36.8647° S, 147.2792° E

FALLS CREEK VISIT VICTORIA

It’s easy to forget that people live in our favourite resort towns, and snow-dusted Falls Creek is no different. B y PAU LIN E M O RRIS SE Y The alpine resort town of Falls Creek in Victoria

Smit says. “Based on our sales, we have seen a 25

is not only one of Australia’s premier winter

to 30 per cent growth just in the past two years.”

destinations, it’s also the dwelling place of many adventure seekers, who beam with pride over the year-round outdoor oasis they call home.

Worthwhile winter wonderland Zirky Real Estate director Christina Smit says the residents of Falls Creek are a mixture of key

$1.975 million

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Traverse Alpine Group, had a roundabout journey to Falls Creek.

It involved a Queensland upbringing as a keen

remote working families who have moved to the

met his wife, Tara, and five years living in

mountains to live among nature.

Tasmania, forming a love for great food and wine.

Finally, he arrived in the resort town that perfectly combined these accumulated passions.

environment, where kids can be safe and free to

Exelby manages the operation of Astra Falls

explore,” Smit says. “It’s also noteworthy that our

Creek – voted six times as Australia’s Best Ski

local architecture is evolving to become heavily

Boutique Hotel by the World Ski Awards – and its

influenced by high-end European alpine design,

hospitality venues, including Cloud 9.

such as Italy’s renowned Dolomites, seamlessly

Victorian Alps 1/1 Arlberg Street

Resident Shannon Exelby, general manager for

surfer, travels to snow-capped Canada where he

enjoy raising their children in a fantastic

Falls Creek

Swapping surfboards for snowboards

resort employees, holiday-home owners and

“Families who find themselves here greatly

YOU MAY LIKE ...

Expressions of interest Agent: Zirky Real Estate,

The latter is in the final stages of planning for a

blending into our unique Australian environment.”

$10 million redevelopment. Exelby says Cloud 9’s

Christina Smit 0402 277 808

Smit notes that, traditionally, buyers were from

footprint will increase from 250 seats to 500 and

One of nine abodes within the reimagining of the

metropolitan Melbourne, the north-east, regional

it will get a fresh architectural design with floor-

Koki establishment, this luxury residence with a

Victoria and Queensland, but in recent years she

to-ceiling glass windows and an open ski-in, ski-

grand living area is framed by the natural

has observed a significant increase in investors

out deck for morning coffees and apres-ski.

from NSW, and Sydney in particular.

wonders of the Alpine National Park.

“My day starts around six in the morning, as I

Falls Creek is a resort

throw an extra log on the Astra restaurant fire,”

town in north-eastern

pandemic across the country, property demand

Exelby says. “Before peace turns to a buzz, with

Victoria that offers

in Falls Creek remains strong, with a move

guests arriving for breakfast full of excitement for

450 hectares of alpine

Hover your camera over the

towards domestic tourism activities and a drop

the day ahead, I drink my latte on the deck and

and cross-country

code to see Domain listings

in current, and potential future, overseas travel,”

look up at the summit to watch the sunrise.”

skiing terrain.

in Falls Creek

“Despite the influences of the COVID-19

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AUCTION SATURDAY

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BEACH HOUSE 13 E P H RA I M I S L A N D , PA RA D I S E P O I N T North-Facing Exclusive Island Beach House Experience the pinnacle of island living in this tightly-held Beach House set on a prime north- facing parcel where 30m frontage exposes a glorious wide water vista. A quality three-level design delivers a sleek Miele kitchen, multiple living and dining zones, and four spacious bedrooms. A covered waterfront terrace with outdoor BBQ kitchen is ideal for entertaining as the sun sets over the water. A heated infinity pool and soundproof cinema

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C A R

P O O L

L I F T

AUCTION THIS SATURDAY On-Site Saturday 23rd July at 1.30pm View Wednesday 4.30 - 5.00pm Saturday 1.00 - 1.30pm Shaun Kaddatz M 0414 461 676 shaun.kaddatz@coastal.com.au

provide year-round recreation. Stow prestige vehicles in a six-car basement garage, while boats are safely moored at an 18m marina berth with deep water, bridge-free passage to the Gold Coast Seaway. Ephraim Island residents enjoy 24-hour security and world-class facilities.

Daniel Sharp M 0420 967 891 daniel@kollosche.com.au SPK Real Estate Pty Ltd working in conjunction with Harcourts Coastal and Kollosche.

THE PROPERTY INVESTOR

DALLAS KILPONEN

Buying up big for a lifestyle return Despite a shortage of properties, an alpine property investment is usually more about the skiing than pure financial returns.

B y SU E WILLIAMS

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Snow blankets the landscape in Thredbo in the Snowy Mountains, a sought-after region for alpine property.

nvestors in Australia’s leading snow regions tend to make their spending decisions on the basis of their own lifestyle preferences, rather than purely on rental returns and the prospect of long-term capital growth.

Many choose to use their properties for skiing when they please, and then lease them out on short-term platforms such as Airbnb or Stayz.

“Those platforms tend to be quite lucrative with high rents achieved per night,” says Shannon Fergusson from McGrath Cooma in NSW. “Others might keep them as holiday homes all year round, but there are also growing rents because property is in such short supply and there’s demand for homes from visitors and also workers in the areas.”

In the NSW Snowy Mountains region, one of the biggest drivers of economic growth is Snowy 2.0, the $4.5 billion renewable energy project that is creating about 4000 jobs in the region and generating even more demand for homes.

“That gives even stronger rental demand longevity,” Fergusson says. “We know they’re

behind, so it’s probably becoming closer to an eight to 10-year project, and now they’re also talking about Snowy 3.0.”

The latest Domain rental data shows the median weekly rent in the Snowy Monaro

“Investing in the snow regions isn’t the best-returning investment.” region is $468 a week, up 14 per cent in the past year alone, with a 61.2 per cent rise in the past five years. The yield is now at 6 per cent.

In the Victorian Alpine area, the median rent is now $455, up 3.4 per cent on the year, and 59.6 per cent over the past five. The yield is 5.2 per cent.

“Investing in the snow regions isn’t the bestreturning investment financially,” says Rob Ford of Zirky Real Estate in the Victorian Alps and the Alpine Shire.

“If you’re in Mount Hotham, for instance, by the time you’ve paid the leasehold charges and the booking agent’s commission and for cleaning …

“But most people buy because they want to ski and it can cost up to $10,000 a week to rent a property, so they might as well buy and put it in the rental pool to cover some of the costs for the rest of the time.

“Most of our buyers are 50 to 60-plus, successful people who want to hand them down through the generations.”

There is, in addition, a lot more demand for green holidays in the summer now, when people are looking for fresh air, bushwalks and mountain biking, he says.

And with overseas holidays being harder to take, investors are choosing to spend more time, and money, at the snow instead, says Darren Venter, director of The Investors Agency.

“People have been making lifestyle choices and going for more luxury living,” Venter says. “We saw that trend growing before the pandemic, but it really took off after the start of COVID. “But with borders re-opening now, and people able to choose skiing holidays at resorts in New Zealand, Europe and Japan, it’s going to be a balancing act to see how much time they want to spend in the snow here.”

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21,000 Macadamia Tree Commercial Farm

*Indicative Only

Scan for Listing

䕽⟥ 䪈焺

13 Edward Place, Knockrow, NSW Contact Agent Main Residence

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Farm House

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150 acres*

Contact for a Private Viewing Rob Lamb 0405 608 601 Michael Kollosche 04111 888 15

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170 acres*

Sweeping coastal vistas. Sustainable living. Serenity and seclusion. This idyllic 320-acre* Northern Rivers Hinterland estate offers it all. Peaceful and private, it’s where you can indulge in the organic and artisan delights of nearby Newrybar or Bangalow. Grab your board and within 10 minutes surf some of the best East Coast breaks of Lennox Head and Broken Head or in 20 minutes soak up Byron Bay’s famous surfing spots Wategos, The Pass and Tallows. Just 15 minutes from the airport, ‘Ballyshaw Farm’ is a thriving 21,000 macadamia tree commercial farm offering a main residence with a distinctively relaxed feel, as well as a 4 bedroom home - a perfect base to run the farm business.

All the restored timber and artefacts are hand-picked to evoke a sense of ‘Australiana’ that make the home feel like it’s been a part of the land for decades. *approximate Nicholas James Dunn (Stock and Station Licence No. 1481104) (McGrath) in conjunction with Kollosche Pty Ltd ATF Kollosche Trust (Kollosche).

FOR SALE Lot 2 Beach Close, Port Douglas

Call Tony McGrath 0438 772 277 tony@tonymcgrath.com.au

Size 1,003m2 Price $1,300,000 Ask about interest only vendor finance for approved buyers.

Start your search, anywhere, anytime Download the app

PORT DOUGLAS TROPICAL NORTH QLD, AUSTRALIA EXCLUSIVE RESIDENTIAL BEACHFRONT LOT WITH DIRECT ACCESS TO FOUR MILE BEACH ESCAPE THE COLD. Build or invest in Port Douglas. Close to the Sheraton Grand Mirage Resort and free from body corporate fees. Conveniently located near two world-class golf courses, iconic restaurants and within easy access to the Great Barrier Reef and surrounding world heritage Daintree Rainforest.

kayburton.com.au