Millicent market shines

Millicent was almost the best-performing housing market in rural South Australia in the March quarter with a 57% surge in median prices.

The benchmark leapt incredibly from $195,000 to a new record of $305,500 in the space of 12 months.

Only Barmera in the Riverland had a higher increase and this was based on a much lower turnover and median price.

Mount Gambier also did well and recorded a 29% increase in median house prices in the past year from $295,000 to $380,000.

The figures have been released by the Valuer-General and have been welcomed by the Real Estate Institute of South Australia.

“The South Australian property market has once again demonstrated its strength and resilience in recording another strong year of growth with record median prices across South Australia and metropolitan Adelaide,” stated the REISA.

“SA overall posted a 6.8% median house price increase from the previous quarter and a sensational 22.22% from the same quarter last year.

“Metropolitan Adelaide experienced a similar surge in median house price growth recording an 8.24% increase from the previous quarter and a hefty 25% increase from the same quarter last year.”

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