Spencer Gulf home values climb

May 29, 2024 12:57 pm in by
Photo: Pixabay

Housing values across the Spencer Gulf are booming.

CoreLogic’s latest Regional Market Update shows Port Pirie home values have grown by 10.8 per cent in the past year, and 1.4 per cent over the last quarter.

Port Augusta home values grew 5.4 per cent in the past year, and 1 per cent over the last quarter.

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Whyalla home values recorded an 8.9 per cent annual growth, and 5.3 per cent quarterly growth.

Economist Kaitlyn Ezzy says low supply and high demand is driving people to our region, which has increased prices.

“We could potentially see some renters start to re-evaluate their living circumstances and shift their demand towards more shared households, which would reduce demand and take some heat out of that rental market, but at the moment we haven’t seen much evidence of that across regional South Australia,” Ezzy says.