SA’s South East real estate boom driven by fed-up Victorians

Many Victorians are rushing to buy property just over the SA border. Fed-up Victorians have set their sights on the South Australian real estate market in a bid to escape controversial land tax charges and an unpopular state government. Malseeds Real Estate – Mount Gambier director Jason Malseed said more than 50 per cent of his recent property sales in SA’s South East region had been to Victorians. While that was slightly lower than at the height of the Covid pandemic, when Victoria’s strict lockdowns had residents fleeing to the relatively relaxed state of SA, it far exceeded the typical number of sales to Victorians recorded during the past two decades, Mr Malseed said. “Going back 15, 20 years ago, it was quite rare to sell a property (in SA) to a Victorian,’’ he said. The Mount Gambier home at 2A Shelley Place is on the market, with expressions of interest closing on November 30. “Even though we are close to the border, it (the number of sales) never increased – it was like there was an invisible fence (between the two states). “But now, we’re getting a lot of Victorian buyers in SA where I live (in the South East) – they’re the majority (of buyers).’’ Mr Malseed attributed th...