The Real Estate Institute of South Australia (REISA) has released the sales results for the September quarter.
According to REISA, the regional housing market recorded a median house price of $262,000, which is lower than the previous quarter and the same period last year.
But there was also some good news as sales increased slightly on the previous quarter and were significantly higher than the September 2016 quarter.
The top growth town was Berri, where median house prices increased to $250,250, up 47.21% in 12 months.
It was followed by Port Pirie (+36.30%), Port Augusta (+12.14%), Renmark (+10.27%), Millicent (+9.92%) and Whyalla (+8.16%).
The sales data for Whyalla is particularly telling with the median house price increasing 32.50% compared to the previous quarter, second only to Berri.
After Liberty House purchased the Arrium steelworks in July, local real estate agents predicted that the deal would boost Whyalla’s struggling real estate market and this looks like it’s coming true.
“It is absolutely fantastic that the regional results have somewhat bucked the dreaded 3rd quarter trend and are significantly up from the same period last year,” said REISA President Alex Ouwens.
“The fact that they are also up from the previous quarter shows the considerable resilience and strength of the regional property market.”
The top-selling regional towns for volume were Mount Gambier, Victor Harbor and Murray Bridge.