Hi,
I thought I’d throw this idea out there? Has anyone considered the merits of investing based on projected tourism developments? For example, in the Yarra Valley in Vic, the number of tourists visting for winery tourism has approximately doubled in the last 2-3 years. It’s only about 1 hours drive out of Melbourne with a freeway to be built in the coming years and a train line not too far away. The Hilton Hotel Group is going to build an accommodation complex with their own vineyard that’ll cost in the vicinity of $50 million to build. That’s a huge investment in anyone’s language. Tourism creates jobs, infrastructure, other services and improves the lifestyle and conditions of locals. This has the flow on effect of making a region more attractive to tourists and increasing demand for property. With the council keen to retain the environmental integrity of the region, development will only be allowed to go so far, hence creating a possible supply and demand situation driving prices up. This is only a thought of course and there are other considerations to be taken into account. Has anyone any thoughts on this and is there something similar happening in other regions?
Hello Chris
Your thoughts on property are a little to logical and intellectual for this crazy website. Just joking
Regarding tourism=jobs. I don’t think Tourism is labour intensive compared with say manufacturing industry for example. So I’m not sure Tourism needs a lot of employee accomodation, but it is obviously positive for residential growth to an extent.
If you know the area and all of that infrastructure is coming, then perhaps it would not be unwise to offer some $$$ to an old farmer with lots of quality land
Sounds like you may want to go into the tourist business yourself
Harold,
Me logical? My friends would laugh at that. I am keen to get itno tourism eventually and was exploring the possibilities you suggested. It’s just that the farmers have now got a little bit savvy and know they’re on a good thing. They are now diversifying and incorporating tourism into their businesses ie farm gate sales of their produce, etc. Still, for me it’s a going to be a matter of an investment in lifestyle as that’s where I want to settle my family. I’ll keep on buying IPs close to the city for CG in the meantime until we’re ready for our seachange, or shouljd that be countrychange.
I would think that if you are after cheap land in the Yarra Valley you have already missed the boat.
However, who is to know how far the market is yet to rise?
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