Hi, Just wondering if anyone local can give me their opinion on Hindmarsh Island. (Looking at purchasing/building a holiday home). Land prices seem to have dropped significantly; homes there are selling at less than replacement cost (good if you're buying). Apart from the fact that its a short drive over the bridge to restaurants/shops are there any other glaring problems I should be aware of? The surrounding areas of Goolwa/Encounter Bay/Victor Harbor do not seem to reflect the price drops seen on the island. Thanks in advance.
Hindmarsh Island, South Australia
- Thread starter cegosling
- Start date
I havent had direct experience lately, but from memory mortgage insurers steer clear of islands. This might have changed since the bridge went thru.
Mortgage insurers limiting their exposure will have an effect on prices.
If its not that,why are the prices diferent? Is it access? Higher property taxes rates? etc etc.
Mortgage insurers limiting their exposure will have an effect on prices.
If its not that,why are the prices diferent? Is it access? Higher property taxes rates? etc etc.
Hindmarsh Island
Only a couple of years ago the river water levels were very low during the height of the drought, not sure if the marina was completely dry but boating along that stretch was definatelly limited by shallow waters, that may be something worth looking into. If there was another extended drought period this would decrease prices furthur.
I have a friend who bought a established home on the marina waterfront 12 mths ago for well below what he would have paid had he built it, it was only 7years old and never lived in as it was a holiday home for a family that hardly used it.
Only a couple of years ago the river water levels were very low during the height of the drought, not sure if the marina was completely dry but boating along that stretch was definatelly limited by shallow waters, that may be something worth looking into. If there was another extended drought period this would decrease prices furthur.
I have a friend who bought a established home on the marina waterfront 12 mths ago for well below what he would have paid had he built it, it was only 7years old and never lived in as it was a holiday home for a family that hardly used it.
As Erica mentioned, River levels dropped significantly, making river front.... Not so much a river than a dry bed. Which explains the price drops.
I am not at all surprised.Two weeks ago we went for a drive to Hindmarsh Island to have a look,and its been awhile as the last time i went over there was on the ferry.
personally it did not impress me all that much,i got the cold gut feel this was not a popular place,although there were a lot of expensive houses in the main estate.
I am not at all surprised.Two weeks ago we went for a drive to Hindmarsh Island to have a look,and its been awhile as the last time i went over there was on the ferry.
personally it did not impress me all that much,i got the cold gut feel this was not a popular place,although there were a lot of expensive houses in the main estate.
I know of a couple named partners in one of the larger commercial firms of Aust who have 'weekend' homes down there. They've also admitted that they only stay down there, four, maybe five weekends a year. I always get the image of a ghost town...
In saying that, I could never bring myself to buy a holiday home! Would rather pay the dollars to hire a different one each time, financially makes sense unless you're there every other day.... But each to there own!
I've only been down there to the marina twice and each time it has been really windy compared to how calm it was around at Victor. It was windy enough both times to have a quick look around to see what has changed, have a stretch, then back in the car and back to the main land.
Not my cup of tea but maybe the weather events were just isolated.
Not my cup of tea but maybe the weather events were just isolated.
I looked into this a couple of years ago. The water levels as mentioned above are one issue. I believe there is community and environmental debate about allowing sea water to flow into the area....Greenies will keep that at bay. The thing that reeeeeallly put me off, was that there are so many regulations about flora on the island that restrict it ever becoming an attractive oasis. No palm trees allowed............Who wants to live on an island without palm trees?? It will stay hell ugly as long as the deep greenies get their way.
The fact that it was a HUGE issue building the bridge and marina indicates to me there will be no 'island like' development there anytime soon - what developer would be game fighting environmental groups, indigenous people and residents?
As it stands not only is it far nicer on the other side of the river where the beach and services (and palm trees if you like) are, HI is at the furtherest end from where everything is. It's not even a stroll to the beach like everywhere else.
IMO, why I think no one is rushing there to buy.
As it stands not only is it far nicer on the other side of the river where the beach and services (and palm trees if you like) are, HI is at the furtherest end from where everything is. It's not even a stroll to the beach like everywhere else.
IMO, why I think no one is rushing there to buy.
The only reason you would buy on Hindmarsh Island is if you are really into boating, as you can park your boat out the front of your house for a hell of a lot cheaper than on the Gold Coast. You just need to hope that the water levels don't drop again, otherwise you have a 10 foot drop to get into your boat.
Other than that, Hindmarsh Island is an ugly windswept desolate construction site with no facilities. You can get a very nice place near the beach, river or golf course in Goolwa for similar price to Hindmarsh Island.
Other than that, Hindmarsh Island is an ugly windswept desolate construction site with no facilities. You can get a very nice place near the beach, river or golf course in Goolwa for similar price to Hindmarsh Island.
If you google the airial map of the island you will notice some big style homes that are simmarlary built on the QLD Gold Coast canals, but none have swimming pools on Hindmarsh Island??? most canal properties in the home of Australian canal properties (QLD) have pools or at least no restriction to having one other than standard pool laws. Also reading the covenent, you cannot use traditional fencing to the water line, only an ornamental, (ugly) single rope and pole perimeter fence for so many meters from the water to your dwelling,you can see this, or nothing on advertised properties for sale online. Not real good for pet owners or people with kids either living or visiting. so your back yard is open and cannot be develloped in any way, thats why most are barren open spaces. No caravans or boats allowed to parked on propertys either.. an extremely strict obstructive covenent!!..As Hindmarsh island mostly appeals at this stage to retires or holiday makers, it doesnt alow for much of a life by the water. you cant swim, park ya boat/trailer or have grandkids or your dog access all YOUR land. A shame as it could be a real haven for South Australia to have affordable waterfront land.
Hindmarsh Island
We've had a block in the marina for many years. Its a beautiful spot and we thought it would be a good investment. We intended building an investment holiday home there that we could use as well. Our block has nearly tripled in value since we bought it.
There was only supposed to be 7 stages in the marina and then a further stage was squeezed in with a skinny waterway and small blocks. They couldn't sell them due to the water level and economic climate, so they lowered the prices which affected everyone who was trying to sell blocks or houses in the marina. I still believe it was a good investment and once the new stage is sold, perhaps the prices will rise! However, we are selling our block now and have bought acres in the Gow Estate across the road. While we don't have a view of the water, we have plenty of space around us.
We've had a block in the marina for many years. Its a beautiful spot and we thought it would be a good investment. We intended building an investment holiday home there that we could use as well. Our block has nearly tripled in value since we bought it.
There was only supposed to be 7 stages in the marina and then a further stage was squeezed in with a skinny waterway and small blocks. They couldn't sell them due to the water level and economic climate, so they lowered the prices which affected everyone who was trying to sell blocks or houses in the marina. I still believe it was a good investment and once the new stage is sold, perhaps the prices will rise! However, we are selling our block now and have bought acres in the Gow Estate across the road. While we don't have a view of the water, we have plenty of space around us.
More comment
I do have to say to people who have not lived on the Island that you couldn't be further from the truth about island life. If you want discos within walking distance, HI is not for you. If you want peace, quiet, tranquillity, nice neighbours, minimal to no crime, beautiful walks to the local café over the bridge or a short drive to a supermarket where the line to the checkouts is maybe 2 deep, a place to ride a bike without fear of being hit by hundreds of cars, a walk by the river when there are lots of sailing boats out. You cannot get any better. Victor is a nice place to visit but over run with tourists and busy traffic and not a place I'd want to live in. HI has it all, away from the hustle and bustle but close enough to zip over the bridge when you need to. We spend a lot of time down there, the worst part of the island or anywhere near the river is mosquitos that are seasonal but they are slow jumbo jets and stupid and you can catch them in your hand. We wouldn't want to live anywhere else.
I do have to say to people who have not lived on the Island that you couldn't be further from the truth about island life. If you want discos within walking distance, HI is not for you. If you want peace, quiet, tranquillity, nice neighbours, minimal to no crime, beautiful walks to the local café over the bridge or a short drive to a supermarket where the line to the checkouts is maybe 2 deep, a place to ride a bike without fear of being hit by hundreds of cars, a walk by the river when there are lots of sailing boats out. You cannot get any better. Victor is a nice place to visit but over run with tourists and busy traffic and not a place I'd want to live in. HI has it all, away from the hustle and bustle but close enough to zip over the bridge when you need to. We spend a lot of time down there, the worst part of the island or anywhere near the river is mosquitos that are seasonal but they are slow jumbo jets and stupid and you can catch them in your hand. We wouldn't want to live anywhere else.
