MILLICENT is near the lead in country South Australia real estate with a 27pc growth spurt in its median house prices in the past 12 months.
The current median house price is $190,000, well above the $150,000 figure of 12 months ago.
There has also been a surge in sales with Millicent agents settling 25 properties in the June quarter.
This is almost double the sales achieved in the opening three months of 2019 when only 13 houses changed hands.
The median house price in Millicent has also lifted by 12pc in the June quarter.
Millicent Business Community Association chairman Lee Morgan welcomed the latest sales data.
“From a market perspective the Millicent housing stock is quite affordable and presents good value for money, particularly if the property is well maintained,” Mr Morgan said.
“No doubt buyers and investors realise we are a regional town that has good access to medical, shopping, infrastructure and cultural services and the coastal and natural environment.
“Further, Millicent presents employment opportunities in the agricultural, forestry, fishing, manufacturing and tourism sectors and this is a factor given our proximity between two capital cities.
“Our climate means that we are not in drought like much of the rest of mainland Australia.
“I remain upbeat as it seems Millicent has its confidence back and it appears that each week there is something new and positive happening in our town or nearby outlying areas.”
South East Property Sales and Management proprietor Fiona Telfer said the Millicent market outlook was positive.
“Some properties are moving in a quicker time frame so our days on market should reduce next quarter,” Ms Telfer said.
“A lot of older stock has started to move now, which is an indication we are beginning to grow back into our older stock price range.
“Not to get ahead of ourselves as we certainly need more employment to increase demand, however the market is picking up with some positive signs.”
Following the release of the Valuer-General’s median house prices for the June quarter, the South Australian regional housing market recorded a median house value of $269,500.
This represents a decrease of .92pc from the previous quarter but a significant increase of .65pc from the same quarter last year.
Sales were up from the previous quarter and only slightly down from the preceding quarter last year.
Real Estate Institute of South Australia vice president Robin Turner said it was great news the median price result continued to hold its own this quarter.
“It is also good news that sales have remained buoyant and are only slightly down from the same period last year,” Mr Turner said.
“Regionally, the real estate market is in good shape for 2019.
“The towns and cities which have seen the largest growth over a 12-month period are Whyalla, Millicent and Berri with fantastic increases of 38pc, 27pc and 26pc respectively.
“Top selling areas in terms of recorded sales over the June quarter were Mount Gambier, Victor Harbor and Murray Bridge.”
