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Regional Market Update: First quarter 2015

6 May 15

Following the release of the Valuer General’s median house prices for the March 2015 quarter, the regional housing market recorded a 1.48% increase in the median house price over the last quarter and the same result as the same period last year.  The median price rose again to $275,000 – equaling the record set in the first quarter of 2014.

Sales in this quarter were down from the previous 2014 quarter and when compared to the same quarter last year.

“The regional results are similar to those found in metropolitan Adelaide.  Median prices remain at record levels but the volume of sales is down. The decrease in sales has been the case in the first quarter of each year for many years now.  However, as interest rates continue at their historically low levels, hopefully more and more vendors and purchasers will enter the market place as the year goes on” said REISA President, Mr Greg Moulton.

Suburbs which have seen the largest growth over a 12 month period were Port Augusta, Naracoorte and Mount Gambier with increases of 21.03%, 13.50% and 8.28% respectively.

Top selling suburbs in terms of recorded sales over the March quarter – exactly the same as the last - were Victor Harbor, Mount Gambier and Murray Bridge.