The housing market across the region remains red hot with the median price of a Mount Gambier house soaring by almost 37% in the past 12 months to a record $400,000.

Figures released by the Valuer-General show 293 houses changed hands in the Blue Lake city between April 1 and June 30.

The median price in Mount Gambier a year ago was $293,000, while the figure in the March quarter was $380,000.

It is a similar story at Naracoorte where there have also been massive rises year-on-year and in comparison to the previous quarter.

The median house price in Naracoorte in the June quarter of 2021 was $230,000 and it has soared by 34% to its current level of $307,500.

Although the median house price dipped slightly over the past three months in Millicent, the 12-month movement was significantly upwards.

Millicent’s key figure jumped 30% from $215,000 to $280,000.

Across regional South Australia, the only better-performing town in the June quarter was Renmark as its median house price jumped by 41% to $315,000 in the past year.

There have also been record prices recently paid at auction and in private treaty sales for farming properties across the South East region.

The Real Estate Institute of South Australia has welcomed the latest sales data.

“The South Australian property market continues its upward trajectory by once again extending its record-breaking median price streak,” stated the industry group.

“The sales and median results show the June quarter was still very much within a booming house market cycle with vendors and purchasers continuing to transact across the board in both affordable and premium properties.”