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Regional Market Update: Second Quarter 2015

7 Aug 15

Following the release of the Valuer General’s median house prices for the June 2015 quarter, the regional housing market recorded a decrease of 4.25% in the median house price over the last quarter but only 0.49% over the same period last year.  The median price leveled out at $253, 750– down from the previous high of $265,000 but still at an impressive level.

Sales in this quarter were down from the previous 2015 quarter and also when compared to the same quarter last year.

“The regional results mirror those found in metropolitan Adelaide.  Median prices remain at record levels but the volume of sales is significantly down. Uncertainty over employment and record low temperatures have perhaps made this result inevitable.  What is good is the fact that vendors are being realistic and purchasers are willing to pay premium prices for the properties that they want” said REISA President, Mr Greg Moulton.

Suburbs which have seen the largest growth over a 12 month period were Berri, Port Augusta and Renmark with increases of 35.04%, 20.99% and 15.97% respectively.

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

Click here to view the June Quarter Market Update