Regional SA recorded a median house price of $215,000 for the winter quarter which was a 10.2% rise on 12 months ago and 2.8% decline on last quarter.
“The September quarter is historically the quietest quarter of the year and we were also hit by an interest rate rise in August which would have had an impact on some areas,” REISA President Mark Sanderson said.
“Regional SA has been recording some remarkable growth over the past 18 months so it was only time that this started to balance out, especially with the intensity of the drought increasing this winter.”
“There is still plenty to look forward to in regional SA with the mining boom really starting to make inroads in some regions.”
Mr Sanderson said the State-wide median house price was also strong at $291,000 – a jump of 9.8% from 12 months ago.
“The solid Iron Triangle towns are reaping the benefit of the resources industries with growth of more than 20% over the past 12 months,” Mr Sanderson said.
“Mount Gambier has also been a star performer this quarter with the median house price growing by 12.6% to $212,250.”