By Herron Todd White
November 2020

Mount Gambier Property Update

The prestige market is thinly traded in Mount Gambier, however in recent years we have seen an increase in transactions of higher value properties. COVID-19 has yet to have a negative impact on the property market, with agents indicating the market is performing stronger than pre-pandemic conditions. Mount Gambier has seen sale prices of two houses reach $800,000 or more in 2020 including 89 Bay Road which achieved $825,000 in September. The property was listed for sale through an expression of interest campaign and received good interest with multiple offers. 89 Bay Road was originally a maternity hospital and now features four bedrooms, two bathrooms, 14 foot ceilings, approximately 328 square metres of living and a large 1,652 square metre allotment. Bay Road is considered to be the prestige street in Mount Gambier due to the character appeal of the houses and large allotments of 1000 to 4000 square metres all within close proximity to the CBD and Blue Lake.

The highest price unit or townhouse sale in 2020 in Mount Gambier is an Argent Constructions built townhouse on Degaris Street which achieved $572,500. The two-storey townhouse features three bedrooms, two bathrooms and district views on a 368 square metre allotment and sold within a very short selling period, reflecting the improving market conditions.

A unique property in the region currently under contract is a house at 264 Grundys Lane, Dismal Swamp situated on 28 hectares. The house is one of a kind, constructed of local paddock rock and limestone and features a unique sunken lounge room with open fire and a fireman’s pole for those who choose not to take the stairs from the second storey.

Another unique property currently listed for sale is situated in the upper south-east in Bordertown. It is an architect-designed home with approximately 750 square metres of building area including indoor swimming pool, five bedrooms, three bathrooms, home theatre, electric internal doors, tennis court all on 2.02 hectares. The property is currently listed for sale for $1.75 million and has been listed for over nine months.

Adrian Castle
Certified Practising Valuer

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DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.