Property
Issue No. 28 - April/May 2006
Regional real estate gain outstrips metro Adelaide
by Mr Kel Spencer
From the captivating Naracoorte Caves in the South East Limestone Coast region to the dusty plains of the Upper Mid-North, real estate in rural and regional South Australia continues to display excellent growth.
From 2004 to 2005 the median house price in regional SA increased to $185,000 (December quarter), a growth of 5.7%. In comparison Adelaide metropolitan median house prices only increased by 2.2% to $276,000 for the same 12-month period. (REISA)
About 26% of the State’s population, or one in every four South Australians, chooses to reside in a country or rural area (ABS).
There are three main factors attracting residents to rural areas and pushing up median house prices throughout the regional zones.
Affordability: house prices are more attractive and in reach for families with low to medium incomes.
Employment: many regional towns enjoy strong economies providing good job prospects for people willing to reside in country areas.
Lifestyle: retirees, “ Baby Boomers” and people seeking alternative living opportunities away from the hustle of city life.
South Australia’s Regional and Rural Districts can be divided into 11 main areas.
Regional Areas
Major Towns
- Eyre Peninsula
Whyalla, Pt. Lincoln, Ceduna and West Coast
- Flinders Ranges / Outback
Pt. Pirie, Pt. Augusta and Far North
- Riverland
Renmark, Berri, Loxton, Barmera and Waikerie
- Murraylands / Mallee
Murray Bridge, Tailem Bend and Mannum
- Clare Valley / Lower North
Clare, Burra, Pt. Wakefield and Jamestown
- Barossa
Tanunda, Angaston, Lyndoch and Nuriootpa
- Yorke Peninsula
Kadina, Wallaroo, Moonta and Ardrossan
- Adelaide Hills
Lobethal, Woodside, Gumeracha and Stirling
- Kangaroo Island
Kingscote, Penn...
