Millicent’s median house price has surged by 21% in the September quarter to a record $340,000.

The June quarter figure was $280,000 and it was only $248,000 for the corresponding period in 2021.

This represents a massive rise of 37% and made Millicent a stand-out performer in regional South Australia.

Mount Gambier’s median price in the three months ending September 30, 2022 dipped to $375,000 but this was 30% more than a year ago.

Naracoorte’s housing market has also continued an upward trend over the past 12 months as its current median house price is $276,000.

This is slightly lower than the previous quarter and a 25% gain on a year ago.

The number of house sales in these three population centres remains relatively stable.

According to the Real Estate Institute of South Australia, the median house price across South Australia continues to be close to the record high that it posted in the June quarter.

“While the volume of sales was clearly down, this is entirely attributable to the current economic climate and the substantial interest rate rises that have been happening for a few months now,” stated the industry body.

“Despite this, the median price and sales data continue to hold strong and once again show the underlying resilience of the real estate marketplace.”