CoreLogic National housing Update October 2017
October Market Outlook
Offset or redraw? A look at the pros and cons
Capital city spring property update
5 smart ways to spring clean your finances
Adelaide October 2017
Brisbane October 2017
Cairns October 2017
Canberra October 2017
Darwin October 2017
Gold Coast October 2017
Melbourne October 2017
Newcastle October 2017
Perth October 2017
Regional NSW October 2017
Regional QLD October 2017
Regional SA October 2017
Regional VIC October 2017
South West WA October 2017
Sydney October 2017
Tasmania October 2017
Wollongong October 2017
CoreLogic NSW housing Update October 2017
CoreLogic QLD housing Update October 2017
CoreLogic SA housing Update October 2017
CoreLogic VIC housing Update October 2017
CoreLogic WA housing Update October 2017
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Regional SA October 2017
The month in review: Regional SA
By Herron Todd White
Mount Gambier Property Update
Mount Gambier’s traditional typical housing style has slowly evolved over time, from standard austerity style dwellings with limestone external and internal walls on a limestone foundation to a more modern style dwelling with limestone or brick external walls with plasterboard internal walls on a concrete slab foundation on a generous size allotment of 600 to 1,000 square metres.
Currently, the traditional house being constructed in the market comprises a modern facade with an internal layout of 3- to 4-bedrooms, 2-bathrooms and a double garage under the main roof. Externally a rear alfresco or pergola will feature.
Most housing being constructed is on the outer edge of the township which was traditionally farming land. As vacant land located centrally is limited, development has pushed towards the outer edges of the township where there is a large supply of land.
Design of housing over the past ten years has not changed dramatically. Different building materials are being used which can decrease or increase construction costs. New housing is also pushing for a more energy efficient dwelling. Use of energy efficient housing materials has increased over the past ten years, however the dwelling style, features and allotment size are still relatively similar. Inner city living has seen larger allotments subdivided to create smaller allotments for unit style living. This is due to limited vacant land being available and demand for central locations.
Given the oversupply of vacant land in the region, attached housing/townhouse living has not been widely sought after for larger households. Most families are still sourcing vacant land of around 800 square metres to build their family home. Apartment style living has been tested with the redevelopment of the old Mount Gambier Hospital, however demand was weak for this property type seeing extended marketing periods to achieve a sale. Unit style living has tended to be sought after by single occupants, couples or retirees.
The future of the housing market in the Mount Gambier area is likely to continue at its current steady pace. Further job creation and population growth will be required to see dramatic changes to the housing market.
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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.