Mount Gambier

POSTAL CODE: SA, 5290

HOUSE

UNIT

MOUNT GAMBIER, 5290 ranks 1601st on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 14.14% 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 $565,000.

The upward trend in home prices in MOUNT GAMBIER, 5290 averaged 16.23% per annum over a 3-year period.

Average weekly rents on listings have reached the $470 mark, reflecting a 4.33% increase in returns based on the current median price in MOUNT GAMBIER.

An average of 39.67 real estate transactions take place per month in MOUNT GAMBIER which translates to 476 per annum.

476 properties were sold in MOUNT GAMBIER in 2016, making it the 123rd most active market in SA based on total real estate transactions.

MOUNT GAMBIER, 5290 places 213th in Australia based on median property value growth during the quarter.

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 $425,000.

Average median unit prices in SA have risen as a whole, pulling MOUNT GAMBIER, 5290 values up and netting property investors a capital gain of 24.36% for the past year.

Investors saw the median home price rise to $425,000.

The upward trend in home prices in MOUNT GAMBIER, 5290 averaged 17.44% per annum over a 3-year period.

MOUNT GAMBIER now ranks at the 106th place on a list of fastest growing suburbs in the territory.

Figures from the previous quarter show that capital gains for real estate buyers in MOUNT GAMBIER are low, as opposed to average gains per annum over the past five years.

Real estate investors could earn a rental income of $360 based on current median home prices for the suburb.

It is expected for properties to spend some time on the market prior to a successful sale. In MOUNT GAMBIER, homes and units usually stay on listing for an average of 45.5 days.

114 properties were sold in MOUNT GAMBIER in 2016, making it the 141st most active market in SA based on total real estate transactions.

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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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$565,000	$425,000
Growth Report
Median Quarterly	3.05%	0.12%
Median 12 month	14.14%	24.36%
Median 3 years	48.68%	52.33%
Median 5 years	101.79%	106.31%
10 years average annual	8.95%	10%
Weekly media advert. rent	$470	$360
Time on Market	49.6 days	45.5 days
Gross Rental Yield Percent	4.33%	4.4%

Demographics (Median Values)*

Total Population 25512

Weekly Household Income 1034

Household Size 2.30

Average Age 40

Monthly Loan Repayment 1152

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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