Mount Gambier real estate market hot property as prices rise

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Mount Gambier real estate market hot property as prices rise

The median house price in Mount Gambier remains within sight of $500,000.


Figures quoted in the city press over the weekend show a median price of $475,000 was set in the Blue Lake city in the December quarter.


It continues to be one of the best performing real estate markets in South Australia with a 13.2% surge in median house prices in the past year.


A near-identical surge of 13% was achieved by Mount Gambier home units as they went from $300,000 to $331,000.


The figures show Kingston and Robe also experienced growth in median house prices around the 13% mark.


Robe continues to have the dearest market in the South East region with a median house price of $715,000.


Kingston’s coastal location has undoubtedly assisted it to have a median house price of $452,000. 


Other SE towns recorded impressive gains across 2024 including Millicent with a 9.2% rise to $365,000 along with Penola (8.8%, $386,000) and Naracoorte (7.1%, $376,000).


Meanwhile, holiday makers at Robe are currently leading the nation in terms of comparative spending at hotels, motels and caravan parks.


A major bank estimates expenditure on accommodation at Robe soared seven-fold at the peak of the festive season.


The estimate was taken from NAB merchant terminal data at Robe and 16 other tourist “hot spots” across Australia between December 21 and January 5 (excluding Christmas Day) and compared to a normal period of trade in May, 2024.


Among the attractions at Robe in this period were the Long Cally swim, Christmas street parade and New Year’s Eve fireworks.


Restaurants, bars, cafes and service stations saw the biggest spending increases as Australians took the opportunity to hit the road, head away for a holiday, camp out and dine out.


New NAB merchant terminal data also reveals an average 130% jump in spending across key tourism sectors in some of Australia’s busiest holiday hotspots over the last fortnight compared to normal.


NAB spokesperson Krissie Jones said the summer tourism spending injection was providing a welcome boost for local businesses across the country.


“This summer, as Australians enjoy their well-deserved break, they’re also continuing to play a crucial role in supporting local businesses and smaller economies that are more reliant on tourism,” Ms Jones said.


“While most of us are relaxing on our summer holidays, business owners are making the most of a surge in tourism numbers, which translates into higher spending and, in turn, supports the local economy.


“We know many businesses in holiday hotspots count on the peak summer period to drive much of their annual turnover, and the boost in trade helps them hire more local casual staff.


“This summer has seen a huge increase in spending on accommodation, hotels, motels and caravan parks, cafes, bars and restaurants and service stations as Australians hit the road.


“The population of holiday hotspots swells over summer and booked out accommodation, busy eateries, long lines for takeaway coffee or petrol and even difficulty finding a park on the main street are all welcome signs for businesses in these places.


“The data also points to the continued popularity of holidaying at home as Australians make thoughtful spending decisions to manage the higher cost of living and avoid a recent dip in overseas exchange rates.

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