We previously talked about the problems of Hoptoun, where the collapse of BHP Billiton’s Ravensthorpe $2.2 billion nickle mine, saw the local property market in tatters.
One local developer moved fast to slash section prices in Hoptoun from an outrageous $260k to a much more realistic $69,000. Hoptoun, although located on Western Australia’s beautiful southern coast, now has limited to zero jobs options for people moving into town. Realistically most people buying into Hoptoun are either retirees or holiday home buyers. It does seem to be mainly these buyers who have bought twenty-eight of the 30 blocks in the Steeredale Meadosws estate in the past month with prices from $69,000 to $90,000. Those prices are for 4ha sections with all services connected.
In a country that is obsessed with over-sized MaMansions with a minimum of 4×2 (bedrooms/baths that is ) plus triple garaging, built in brick or stone, an innovative New Zealand company may have their work cut out to convince Australians to buy a modest, prefabricated wood and aluminum “bach” – that’s a holiday home to you and I.
