What's it REALLY like owning a place in Dinner Plain?

Young Angus

One of Us
Ski Pass
Oct 14, 2018
662
806
263
The Bellarine
Do a search of places previous sold in Dinner Plain and look back into last year and 2020...it'll make your eyes water how much prices have jumped, surely it can't last.
 

SnowTigger

Early Days
Ski Pass
Jan 23, 2022
45
60
18
Do a search of places previous sold in Dinner Plain and look back into last year and 2020...it'll make your eyes water how much prices have jumped, surely it can't last.
Certainly won't with the interest rate clock ticking. We used to own in Hotham and saw that post GFC the first thing people dump is the holiday home - and as consequence prices halved.
Literally there were no buyers, at any price!
So if you've got the resources to hold a DP place as a lifestyle asset that's good, but you just want to be aware that holiday areas don't hold value like inner areas of Syd/Melb.
Having said that I have entertained owning in DP, we love it, but as it's only a once a year its easier to just holiday rent.
 
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JanaK

First Runs
Jun 23, 2022
2
0
1
Hi,

We're looking to buy a property in DP purely for AIRBNB. Wondering how often would you getting bookings pre Covid. And would this be something you would recommend.
 

hongomania

One of Us
Ski Pass
Jul 12, 2006
3,398
4,794
363
Melbourne
Hi,

We're looking to buy a property in DP purely for AIRBNB. Wondering how often would you getting bookings pre Covid. And would this be something you would recommend.

I think there's better options

Wouldn't think you'd get great bookings in green season, or white season outside of peak / school holidays

Management companies take like 50% of your income
 
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JanaK

First Runs
Jun 23, 2022
2
0
1
I think there's better options

Wouldn't think you'd get great bookings in green season, or white season outside of peak / school holidays

Management companies take like 50% of your income
Thank you for responding. If you don't mind me asking, are you saying this from experience having a airbnb in GP?
 

nezumi

One of Us
Ski Pass
May 28, 2009
2,811
4,123
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Melbourne
What hongo said. Otherwise you can rent seasonal, which means you can't use it. There are also quite a few overheads.
You should buy in DP bc you foremost want it for you, its not a great investment.

Especially on looking at the increase in prices over the last few years. I can't see that trend continuing massively over the mid to long term.
 
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Marc8491927

Hard Yards
Mar 28, 2015
132
100
98
Victoria
Hi, after camping at Jb Plain and surrounds for many years. It’s time to upgrade the situation slightly.
We were looking at land in Dinner Plain, but out of morbid curiosity put an expression of interest in for a flat at the Arlburg. The general outgoings seemed to be as the rumours suggest (quite poor) but the bit that struck me was I was told that at the moment you can not get insurance at Hotham?

Which makes it A. Not a great idea IMO and B. As far as I know impossible to get finance.

Do those that have property in the area know if this is true? Or just a problem facing the older properties in the area as it would cost mega $$$ to bring them up to code?

Thanks in advance.
 
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currawong

Pool Room
Ski Pass
Sep 17, 2003
47,167
42,742
1,563
Kiewa Valley
Hi, after camping at Jb Plain and surrounds for many years. It’s time to upgrade the situation slightly.
We were looking at land in Dinner Plain, but out of morbid curiosity put an expression of interest in for a flat at the Arlburg. The general outgoings seemed to be as the rumours suggest (quite poor) but the bit that struck me was I was told that at the moment you can not get insurance at Hotham?

Which makes it A. Not a great idea IMO and B. As far as I know impossible to get finance.

Do those that have property in the area know if this is true? Or just a problem facing the older properties in the area as it would cost mega $$$ to bring them up to code?

Thanks in advance.
Insurance has got crazy expensive. Some properties have been denied insurance. NFI about Arlberg in particular but I imagine you could get this year's insurance costs from the seller/body corporate or whoever. It's not so much about older properties as the construction materials, also the total value. I imagine that Dinner Plain would be similarly affected, especially given all the timber cladding, although I have not heard anything specific about DP.

There is a slow process in train of trying to get government to step in and address the market failure - as I think has happened in FNQ.
 
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DigDug

Hard Yards
Dec 6, 2020
3
0
51
Hi, after camping at Jb Plain and surrounds for many years. It’s time to upgrade the situation slightly.
We were looking at land in Dinner Plain, but out of morbid curiosity put an expression of interest in for a flat at the Arlburg. The general outgoings seemed to be as the rumours suggest (quite poor) but the bit that struck me was I was told that at the moment you can not get insurance at Hotham?

Which makes it A. Not a great idea IMO and B. As far as I know impossible to get finance.

Do those that have property in the area know if this is true? Or just a problem facing the older properties in the area as it would cost mega $$$ to bring them up to code?

Thanks in advance.
Try Brett at Affofa insurance. We recently insured through him for a property in DP. Brett Radcliffe <brettr@afoofagroup.com>
 
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