The median house price in Mount Gambier is now within a whisker of $500,000.
The Blue Lake city continues to be one of the best performing real estate markets in South Australia with a 14% surge in median house prices in the past year.
Official government figures show a new record median price of $490,000 was set in Mount Gambier in the September quarter based on 122 sales. This is 5% more than the June quarter when there were 123 houses change hands.
The only regional population centre which performed better than Mount Gambier was Murray Bridge which sky-rocketed by 22% year-on-year to $484,000.
The figures published by the Real Estate Institute of South Australia showed Millicent’s median house price has dipped to $327,000 in the September quarter while Naracoorte’s figure of $354,500 was also slightly below that of a year ago.
“South Australia’s real estate market continues to do astonishingly well despite the continuing low supply of housing stock and the prevailing high interest rates,” a REISA spokesperson said.
“We look forward to interest rates coming down in 2025 to encourage first home buyers back into the market and the realisation of the State Government’s commitment to increasing housing stock and easing affordability concerns.”
