Millicent’s median house price has skyrocketed by almost 31% in the past year to a near-record $340,000 set in the June quarter.


The figure for the corresponding period in 2023 was only $260,000.


This makes Millicent the stand-out performer in regional South Australia over the past 12 months.


Millicent’s median house price has almost trebled in the past 12 years as it was only $125,000 in 2012.


Millicent averages around 16-20 house sales per quarter.


In the month of July, a Park Terrace house reportedly changed hands for $395,000 while a Holzgrefe Street dwelling is understood to have fetched $295,000.


Behind Millicent, the next-best performing town in regional South Australia in the past year was Victor Harbor with a 19% surge.


Mount Gambier’s median price in the three months ending June 30, 2024 rose to $469,000 and this was 18.3% more than a year ago.


According to figures released by the Real Estate Institute of South Australia, Naracoorte’s median house price has dipped from $360,000 to $330, 00 in the space of a year.


“The South Australian property market continues to show unprecedented strength as it once again posts record median prices of $708,250 and $785,000 across South Australia and metropolitan Adelaide respectively,” a REISA spokesperson said.


“South Australia’s real estate market continues to do astonishingly well despite the low supply of housing stock and the prevailing high interest rates.


“We commend the State Government on taking the issue of housing supply seriously and we look forward to continuing our dialogue with them in addressing this and the complementary issue of housing affordability.”