Investing in Victorian Alpes


I'm pretty new to the forum and am still finding my way around it. I'll pose here a question that has likely been discussed in previous posts. However, as I couldn't find it, I'll post it here.

Does anyone have a view on investing in the Victorian Alpes ? Looking at Mt Hotham and Mt Buller the prices seem to be very attractive with 3 bdr apartments being sold around 200K and I see at airbnb similar apartments being rented by AUD300/night (during teh snow season).

Sure it's not that easy.

Anyone able to shed a light on the catch ?

Whats your investment strategy?

Are you investing for CG or CF?

What is the historic CG for those areas?

What is the annual vacancy rate and yields for those areas?

Would purchasing in those area move you closer towards or further away from your reason why you are investing in the first place?
Great income during the snow season. Negligible income the rest of the year. High costs all year round.

The banks really don't like alpine apartments and this is reflected in their lending policy. I guess they've had some experience with them and have decided they're a bad risk.