Home values in South Australia’s regional markets have boomed since the start of the pandemic, but there are still some hotspots where you can get a good buy.
New data analysis by PRD Real Estate in its Smart Moves: Regional Edition 2025 report has revealed the three SA regional council areas where buyers should buy now.
The report looked for areas with medians lower than the capital cities, positive growth trends across houses, land, and units; higher returns and lower vacancy rates than its capital city; a strong pipeline of residential construction scheduled for this year; and an unemployment rate below the national average of 4.1 per cent.
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The three regional council areas identified in the report are Loxton Waikerie, Renmark Paringa, and Mount Barker.
Loxton Waikerie, which has a median house price of $357,500, had 11.7 per cent price growth over the past 12 months, more than $180m in projects scheduled this year, and an unemployment rate of 2.5 per cent.
Renmark Paringa council has a median house price of $380,000, had 10.1 per cent price growth over the past 12 months, has more than $50m in projects scheduled this year, and an unemployment rate of 2.7 per cent.
Mount Barker has certainly grown over the years. Supplied
And Mount Barker council has a median house price of $720,250, had 12.1 per cent price growth over the past 12 months, has more than $232m in projects scheduled this year, and an unemployment rate of 3.6 per cent.
PRD Real Estate chief economist and report author Dr Diawasti Mardiasmo said affordability did not necessarily indicate future value growth or sensible buying.
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“All of these council areas have quite strong economic bases, and it means that if you choose to move into these areas, your likelihood of getting a job is higher, and when you combine that with what is happening in the area from an investment point of view, that suggests these areas should experience continued value growth,” she said.
PRD Real Estate chief economist Dr Diaswati Mardiasmo. Supplied
“All of these areas have had double digit growth, which is positive.
“This period right now where we are dealing with higher interest rates – there is the possibility we will experience continued, albeit tempered value growth, but if we get three or four cash rates, that’s where you’ll see a stronger uptick in growth.”
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Renmark Paringa mayor Peter Hunter said the property market was performing strongly, and the outlook for the region was positive.
“We’ve got a growth plan that identifies some areas we believe need to be freed up for housing and there are three or four of those which will open up significant numbers of lots in the near future,” he said.
Renmark Paringa mayor Peter Hunter. Supplied
“One of these is a major project – the Jane Eliza Development – which will be over 800 houses with a marina with medium to long-term prospects and our growth compared to other towns has been pretty reasonable.
“It’s come a long, long way and we believe we have a strong future.”
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