The month in review: Regional SA Property Market Updates
By Herron Todd White
Mount Gambier has numerous land divisions currently available. Within the city there are standard residential blocks available that are situated on 700 to 900 square metres and range from approximately $70,000 to $135,000. There are also new land divisions on the outskirts of Mount Gambier. These blocks are generally more sought after as they are larger, ranging from 1,000 to 5,000 square metres with a price range of $120,000 to $190,000. The allotments located on the outskirts of town generally appeal to owner-occupiers, whereas some of the cheaper, smaller allotments in town such as The Meadows appeal to investors. A large number of allotments within this estate have been purchased by investors. A typical building cost within Mount Gambier for a standard dwelling of roughly 150 to 200 square metres of living may range from approximately $1,100 to $1,400 per square metre. Depending on the size of the dwelling, a higher quality of build will generally result in a higher dollar rate per square metre and vice versa. We have seen build costs from as cheap as approximately $900 per square metre and as expensive as approximately $1,800 per square metre. Build costs don’t generally vary too much between township blocks and those on the outskirts of town, however properties located in isolated regional areas where travel is a factor will have a higher cost per square metre.
In the Mount Gambier region, building a new home is a popular choice amongst home owners. It does make sense for home owners to build in terms of value as it allows them to build and configure a property to their particular taste.