Picture: J.L. “FRED” SMITH
A MILLICENT realtor has welcomed new figures showing the township’s median house price skyrocketed nearly 12pc in the 2019 December quarter.
It is understood a renewed confidence in the township and a rental shortage have helped drive the increase.
Figures released by the Real Estate Institute SA show the median house price in Millicent jumped from $154,000 to $172,000 in just three months.
More than 20 Millicent properties were sold in the 2019 December quarter, which is up slightly compared with 12 months ago.
The lift in property values come as Mount Gambier’s figures soared to record levels with the median house price cracking $295,000.
Millicent realtor Fiona Telfer welcomed the rise in the town’s median house prices, which she says reflects a growing confidence in the township.
“This is a great outcome for Millicent, ” Ms Telfer said.
Ms Telfer – of South East Property Sales and Management – said rental vacancies had dropped in the town, which was driving up demand in sales.
“We have also had new people move to the Millicent area given it is a safe, green and affordable,” she said.
She said this renewed confidence was resulting in people purchasing homes in a higher price bracket.
Among Ms >Telfer’s delighted vendors were Millicent >couple Michael and Vivienne >McRostie.
They previously had a long association with newspaper >and were directors from 1988 until 2006.
The McRosties have purchased a home at Goolwa and were delighted with the service provided by Ms Telfer.
“Fiona was a pleasure to deal with,” Ms McRostie said.
“She is efficient, delighted and knows her market.”
Mount Gambier was crowned the top selling centre in regional South Australia in the December quarter, which will deliver another shot of confidence to the city’s home owners.
Real Estate Institute of SA has also described the rise in the state’s regional median house price of $280,000 as “breathtaking” and a “massive”lift” for the non-metropolitan housing sector.
Meanwhile, REISA president Brett Roenfeldt said the regional housing market recorded a “stunning” record median house price of $280,000 in the December quarter.
This represents a “fantastic” 5.6pc increase from the previous quarter and a significant 1.8pc increase from the same quarter last year.
He sales were “massively” up from the previous quarter and the same quarter last year.
“What a stunning result for the regional housing market and I am thrilled they have mirrored the metropolitan figures,” Mr Roenfeldt said.
“The record median price and the volume of sales in this quarter are breathtaking and a great indicator of the underlying strength and resilience of the regional housing market.
“I am looking forward to 2020 with great confidence and optimism.”
Suburbs which have seen the largest growth over a 12 month period are Berri, Whyalla and Mount Gambier with increases of 29.9pc, 15.95pc and 10.28pc respectively.
