Guest essay by Eric Worrall
In the wake of a series of good snow years in Australia’s alpine regions, property investors are increasingly ignoring dire CSIRO predictions of the imminent end of snow.
Alpine property in hot demand despite climate change worries
By business reporter Daniel Ziffer
Updated Fri at 9:43am
Alpine real estate is getting more expensive at Australian ski resorts, despite concerns that climate change will diminish natural snowfalls.
Nearing the end of a solid snow season that has seen record crowds of visitors at many resorts, there is no chill in the market.
“It’s probably a little bit surprising that values have risen again in 2019 — given the broader housing market conditions — but you’re also seeing rents rising,” said Cameron Kusher, head of research at property analytics firm CoreLogic.
“So I think that really does highlight there is growing demand for housing in those areas and it’s not necessarily just people buying investment properties.”
It does not seem to make sense — a pricey asset in a rugged environment, hours from the capital cities and heavily exposed to climate change. But investors cannot seem to get enough.
“They’ve been very good [years] actually,” said Christa Smit of Zirky Real Estate, who is based at the Victorian resort of Falls Creek.
“The alpine [market] has definitely had a resurgence over the last three years.
Modelling from the CSIRO predicts average seasons will fall by between 20 to as much as 80 days in the next three decades, potentially all but annihilating the 112-day ski season.
In the worst-case scenario that would leave just a month of skiing by 2050.
As a child I remember the first week of Fall was pretty much the end of the Aussie snow season, but lately the season seems to have stretched by at least a few weeks.
Some of that longer snow season is due to better snow management, but in recent years the season has been especially good for Aussie skiers. This year West Australia, which normally doesn’t get any snow other than maybe a few flakes which don’t settle, had the earliest recorded snowfall event in West Australian history.
I believe failed end of snow predictions will be the undoing of the global warming movement. They can fiddle the temperatures all they want, and make authoritative sounding arguments about the ocean swallowing
their homework excess accumulated heat, to explain away unexpected “pauses”.
But tangible outcomes people can actually experience for themselves are far harder to disappear. It is becoming increasingly difficult for climate believers to explain away what may be a rising global accumulation of good snow years, in the context of their increasingly shrill “hottest year evah” claims.
via Watts Up With That?
September 22, 2019 at 08:52PM