Mount Gambier (5290) is a suburb in South Australia that continues to attract attention from both homeowners and investors. As a regional suburb, the suburb is serviced by 11 schools and benefits from solid transport and amenity access.
Mount Gambier has a population of approximately 25,591, a median age of 40, a median weekly household income of $1,335. The suburb has a balanced mix of owner-occupiers (63%) and renters, indicating healthy demand across both segments. Across the broader LGA, 22.8% of residents hold a university qualification.
Key employment industries in the broader local government area include Health Care and Social Assistance (17.3%), Retail Trade (13.1%), Manufacturing (9.9%).
The current median house price in Mount Gambier is $547,555. The suburb has delivered strong average annual growth of 14.4% over the past five years, outperforming many comparable markets. In the past 12 months, prices have increased 12.9%.
Properties in Mount Gambier spend an average of 36 days on market. Online buyer demand is currently rated as high online demand. Stock on market sits at 0.29%. With inventory levels at just 0.79 months, supply is tight relative to demand. The average vendor discount is -3.3%, meaning sellers are typically negotiating below asking price.
The median weekly rent for houses in Mount Gambier is $460. Gross rental yield is 4.37%, providing a solid income return. The vacancy rate of 0.93% signals very strong rental demand. Rents have grown 4.55% over the past 12 months.
The broader local government area is forecast to grow from 28,561 to 29,175 residents by 2031 (2.1% growth).
Handle Properties is a Sydney-based buyer's agency helping investors build portfolios of high-growth investment properties across Australia. If you are considering Mount Gambier or need help identifying the right suburb for your strategy, get in touch with our team.
The quantitative data below has been compiled on 30th May 2023 from a range of third party sources using a variety of manual methods. Handle does not guarantee the accuracy of this data shown below.