The Millicent housing and commercial property market is currently “booming” with numerous sales.

A block of shops and offices in the Millicent CBD jointly owned by a Millicent businessman and a Mount Burr farmer has been sold to out-of-town interests.

A local couple has purchased a block of six units on Williams Road, Millicent and are undertaking extensive renovations.

Mount Gambier businessman Keith Sneath has sold the freehold of the one-time Red Rooster restaurant to his tenant Kevin Weng who opened the Asia House restaurant in 2021.

Meanwhile, the recently-released Valuer-General statistics show Millicent led regional South Australia in the last calendar year with a sharp 34% rise in the median house price.

The price soared from $190,000 to $255,000 in this period.

The closing quarter of 2021 was busy in Millicent with 32 sales.

The Mount Gambier housing market climbed by 15% between January 1 and December 31 last year.

The median house price moved from $291,000 to $335,000 with 178 sales in the December quarter.

Naracoorte’s housing market also performed strongly last year with the sales achieving a 15% increase in median house price from $225,000 to $258,500.

Real Estate Institute of South Australia chief executive Barry Money said the December 2021 quarter data demonstrated consistent growth year on year.

“The median house price in the South Australia has increased by a hefty 16.78% from the same December quarter in 2020 reaching a new record of $515,000,” he said.

“And volume-wise we have seen over 1100 more houses sold in South Australia in the quarter ending in December 2021 compared to the same quarter in 2020.”