Tumut property booms on Snowy brain fart

Specufestors. They’re just everywhere:

Tumut real estate agent Lorraine Wysman has sold nearly as many properties in Talbingo since Thursday as she normally does in a year.

Speculators began targeting the tiny southern NSW town after Prime Minister Malcolm Turnbull announced a potential $2 billion expansion of the Snowy Hydro scheme.

Ms Wysman, who is president of the local business chamber, said she had sold five properties in the village of 241 people since the announcement.

“I’ve got staff who live there and they can’t believe it,” she said.

“We had 10 properties and three blocks of land for sale, so it’s really put a big chink in our listings.

“One particular property sold without an inspection, another chap came from Sydney on Saturday and bought, and went home again.

Better get in before you miss out.

Comments

    • You can say that and you’re correct, there are dills everywhere.

      However these dills may make good money in a couple of years thanks to the fact the political ecosystem is run by dills. This pervasive dill phenomenon is why smart people keep getting the property market wrong while all the dills make da $$$$$$$

      • They might, but they are betting their stamp duty on whether the government can sort out all the ifs buts and maybes. Plus their money is sitting there for a few years while that process goes on – opportunity cost on a few hundred thousand dollars..

    • +1, they’ll probably cash in, in a coupe of years and laugh about it. Just like the Mining Towns, the thing to do is get out before it goes bust again ;).

  1. boomengineeringMEMBER

    Nice little town stayed there a lot doing shutdowns at the paper mill, shame to see this happening also corrupting the locals to believe they are rich.

  2. Yup…i’ve got a couple of little landlords at work who have recently bought into hobart (with no local knowledge) just because they read an article in the msm that hobart was going to be the next boom place…

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