House prices down in South Australia's regional market

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Oct 31, 2017

House prices down in South Australia's regional market

The Valuer-General’s report on South Australian house prices for the September 2017 quarter, shows that prices in the regional housing market were down slightly, but the number of sales remains strong.

Image: Harcourts.

Victor Harbor is South Australia's most popular suburb for number of sales. This home at 131 Hindmarsh Road, Victor Harbor, sold for $342,000 in August.
The South Australian suburb of Berri experienced growth of 47% in the year to September. This home at 14 Konidaris Court, Berri, sold for $455,000 this month.

The Valuer-General’s report on median house prices for the September 2017 quarter, shows that prices in the regional housing market were down slightly. The median house price for regional South Australia was $262,000.

The Real Estate Institute of South Australia said the result is still strong, even though it marks a decline from the previous quarter and the same period last year.

The number of sales was up slightly from the previous quarter, and up significantly compared with the same period last year.

REISA President, Alex Ouwens, said, “It is absolutely fantastic that the regional results have somewhat bucked the dreaded third-quarter trend and are significantly up from the same period last year.

"The fact that they are also up from the previous quarter shows the considerable resilience and strength of the regional property market."

Regional South Australia's best performing suburbs according to price in the year to September were: