Region grows

Region grows

All major population centres in the South East have experienced double digit growth in the past 12 months and set new records for median house prices.

The Prop Track published data shows Robe house prices have surged by 15.4% to $657,000.

Robe remains the most expensive real estate in the South East region with a number of properties changing hands in the seven figures range.

Mount Gambier houses have jumped 13.4% to $443,000 while home units in the Blue Lake city have grown by 17% to $337,000.

Kingston was the region’s best performer in the past 12 moths with prices steeply climbing by a massive 22% to $440,000.

Other South East towns to show strong growth over the past year have been Millicent (10.5% higher to $347,000), Naracoorte (11%, $361,000), Bordertown (10%, $276,000) and Penola (15% $367,000).

Commenting on the data, Prop Track said the South East emerged as the sole region in country SA to place in the top 10 regions for post-pandemic growth nationally, with prices increasing by 71% since March 2020.

“Four years on from the COVID pandemic, home prices around the country have staged a remarkable feat,” the spokesperson said.

“From fears of sharp falls through the COVID pandemic, to the expectation of steep declines when interest rates began to quickly climb, home prices have defied the expectations of many, surging 39.9% nationally.

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