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Mount Gambier

POSTAL CODE: SA, 5290
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MOUNT GAMBIER, 5290 ranks 1708th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 12.37% for property investors.

Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.

The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $545,000.

The upward trend in home prices in MOUNT GAMBIER, 5290 averaged 14.76% per annum over a 3-year period.

Average weekly rents on listings have reached the $460 mark, reflecting a 4.39% increase in returns based on the current median price in MOUNT GAMBIER.

An average of 41 real estate transactions take place per month in MOUNT GAMBIER which translates to 492 per annum.

492 properties were sold in MOUNT GAMBIER in 2016, making it the 126th most active market in SA based on total real estate transactions.

MOUNT GAMBIER, 5290 places 258th in Australia based on median property value growth during the quarter.

Surburb overview

One of the most popular destinations for Australian internal migrants, according to the Regional Australia Institute, Mount Gambier lies just shy of the South Australian-Victorian border, lying just under five hours from both Adelaide and Melbourne.

South Australia’s second largest town, nestled on the side of a dormant volcano, Mount Gambier is placed in the heart of the Limestone Coast, heralded as a region flowing with natural beauty and wine. Noted for striking the ideal balance between vibrant city living and quaint regional town comforts, the region is also popular among tourists, with its popularity heightened by the blend of sea and tree changes it offers prospective holiday goers and residents alike.

The strength of Mount Gambier’s employment market is boosted by a strong forestry industry within the region, as well as a $120 million renewable energy plant, and a $70 million expansion of the local hospital has also been proposed.

All these factors are yet to drive the local property market into the range of unaffordability, with investors enticed into the market by its sub-$400,000 property prices as well as strong rental returns and capital growth.

The University of South Australia placing a campus on the northern rim of the town makes Mount Gambier an attractive proposition for students, education professionals, as well as hospital and healthcare professionals, ensuring steady rental demand in a town already boasting a sub-one per cent vacancy rate.

According to the South Australian government, steady population growth is forecast for Mount Gambier and surrounding regions in the years to come, further enticing development and investment in the region to accommodate growing demand.

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