Regional SA December 2017

The month in review: Regional SA

By Herron Todd White
December 2017

Mount Gambier

The market in Mount Gambier has remained relatively stable throughout 2017, as demonstrated in the graph below. There was a significant drop in 2011, however an increase in sales can be seen in recent years. Whilst the market has remained stable, there are still no economic indicators that look to improve the current economic state to an extent which could see house sales volumes rebound to the 2008 and 2009 levels shown.

The $200,000 to $250,000 price range is affordable and it’s where the most number of house sales occurred throughout the year. A house within this range appeals to families and they are generally of good quality, including 3- or 4-bedrooms, 2-bathrooms, a double garage under the main roof and a pergola area, situated on 700 to 800 square metres.

Throughout 2017 there has been an increase of properties that have achieved a value within the $300,000 to $450,000 price range. There were few dwellings purchased under $150,000 or over $500,000. Dwellings under $150,000 are generally in less sought after locations and have limited market activity. Units are often within this price range. Dwellings over $500,000 are at the top end of the market and have a reduced market segment.

With the $200,000 to $250,000 and $250,000 to $300,000 price ranges being the most popular, buyers throughout the year have been a mix of first home owners and families. These price ranges are affordable for those looking to enter the market and suit the needs of families too.

There were a number of rural living properties that sold throughout the year that made good money, which was surprising. One of these is listed below.

226 Lange Road, Yahl – $950,000

A circa 1990 brick, 5-bedroom, 1-bathroom dwelling situated on 32.37 hectares

Overall, at the beginning of the year we expected that 2017 would be a similar year to 2016. This turned out to be correct, however we did see a slight increase in sales in the upper range.