Tasmania Boom?

My guys down there tell me the boom is well and truly over for the time being at least. According to them Melbourne and Sydney buyers drove the prices up, but there has been little movement of late. I would expect prices to pull back in the winter. I bought in Somerset this time last year.
Scott

“Its not pretty”

Could I say thats the understatement of the century??? Well it has to be up there with ’em!

The don’t call it the Wild West for nothing – The Good, The very bad and the very, very ugly [].

Rgds.
Lucifer_au

Big Yawwwn

I personally will be keeping a close eye on Tassie, in particular around Hobart. I know the “boom” is pretty much over, but Tassie and Hobart in particular has just been thrown into the spotlight with the Danish royal wedding coming up. I reckon tourism in Tassie is going to flourish (more), and this in turn may just create some more investment opportunities.

It will be interesting to see if it does make any difference.

Cheers,
Karen[biggrin]

Bright your future is from mindset!

Yodaimpersonator

Hi Kcc,
first welcome. Don’t be put off by the lack or quality of some of the replies you receive. Although your question has been answered before I will have a go.

Tasmania unfortunately is no longer undiscovered, recent buying in the last 2-3 years from mainly intersate investors have pushed prices to unsubstainable highs. I say unsubstainable as with the current price plateau vendors in Tasmania are in cases having to make fairly hefty reductions in prices to achieve sales. (I just negotiated 80K of a 300K property).

But back to your question, Tasmania has an excellent future, tourism has increased year by year at a steady rate and last year peaked at I believe between 700 000 and 800 000 visitors. The state has magnificent scenery, great food & wine, great people & great tourist attractions. Queenstown if you are after +cf why not? If you are after high capital growth then look coastal as there are still some excellent bargains to be found, basically they don’t make land on the coast anymore.

If you are happy with your purchase then stick with it, Queenstown will achieve some growth in the years to come but probably not a lot I’m tipping that’s not what you bought it for anyway.

Cheers

Told you it was a bit ugly….

The Environmental Equation

At the time, these particularly devastating methods of mining caused murmurs of protest from farmers and pastoralists who could see for themselves the damage that was being inflicted upon their local ecology. Eventually, these mining methods were outlawed by governments, but not before vast areas of natural forest had disintegrated into wasteland. The most infamous example of mining damage in Australia occurs at the Queenstown region of Western Tasmania. Once a verdant expanse of mountainous rainforest and plentiful waterways, the area has now been transformed into a treeless desert of silt, sediment and ecological decay. Big open cuts channel into its topography, thousands of tones of mullock sits upon the surface of the land and the Queens River, once stained brown from the tannin of native gums, is now clogged full of chemically poisoned top soil, washed away by heavy rains.

The effects of this type of environmental damage are irreversible. Once trees are cut down, topsoil erodes away. When silt is dumped into waterways, it devastates every nexus of life in that ecosystem. Today, huge volumes of silt are still being carried slowly downstream, until they reach the sea and impact marine environments. Indeed, the mining mistakes that were made in the past century will still be felt by the Australian environment for decades yet to come.

(Cool link KH!).

Rgds.
Lucifer_au