Mount Gambier – what's in it for home buyers?
Mount Gambier is one of South Australia’s most popular destinations for tourists but is it a good place to buy a property? A good investment needs a host of positive points, and Mount Gambier has plenty, as we explain in this article.
Why is Mount Gambier a good investment?
Here are just a few of the points that make Mount Gambier so desirable to property investors from near and far:
1. The Limestone Coast
To start with, Mount Gambier is situated on the beautiful Limestone Coast. The stretch of coast, running from the Victorian border to the Younghusband Peninsula, is home to stunning shorelines, incredible natural features like sinkholes, and underwater caves. It is also one of the best grapevine growing regions in the country.
Located at the Victorian border end of the LimestoneCoast, Mount Gambier is perfectly positioned for residents to enjoy all the benefits of this unique environment. Being almost equidistant between Adelaide and Melbourne also means two capital cities are within half a day’s drive. You can be in Melbourne or Adelaide in around five hours, which makes it an attractive option for people wanting to live somewhere peaceful, yet still get to the city when they need to for recreation or business.
If you invest here, you have the option of leasing to tourists or accommodating the many people who are drawn to the area as an affordable place to live and work.
2. History and architecture
Europeans first settled in Mount Gambier in 1842, establishing a sheep station. Within a few years, industries appeared, including a post office and hotel. Mount Gambier’s history as a colonial town is evident everywhere in its architecture and culture. The city has abundant federation homes that would be worth many millions in a major city, with beautiful original features and heritage charm.
Of course, Europeans aren’t the only people who have a history in the area. The Bungandidj people inhabited the area for countless generations before European settlement, and evidence of their history can also be found. You can find many culturally significant Aboriginal sites in the area, making Mount Gambier a dream town for any history lover. Many of its most iconic sites are to be dual named in future with both their European and original names, which will allow residents and visitors to better understand its unique stories.
When you invest, you want it to be in an area where your tenants feel comfortable and as though they have everything they need. This is definitely the case in Mount Gambier.
Mount Gambier is the second-largest city in South Australia, with close to 30,000 residents. Such a healthy population means that Mount Gambier has all the facilities any resident could need. There is an airport, ample medical facilities, shops, cafes and restaurants, parks and recreational areas, cinemas and all the amenities you need in a modern city. For anything else, Adelaide and Melbourne are both within driving distance.
The Limestone Coast also offers a lavish outdoor lifestyle. There is no end to the activities local residents enjoy. Whether you want to swim in a sinkhole, go mountain biking, spend the day fishing, bushwalk through a national forest or enjoy a winery in the countryside, Mount Gambier has it all.
4. Tree change
The pandemic has been one of the major influences in making Mount Gambier a tremendous investment opportunity. Rolling lockdowns and increasing numbers of Australians working from home have seen a surge of people relocating to rural and regional areas. Towns like Mount Gambier are now more desirable places to live than dense urban areas and cities.
When you invest, you have the opportunity to attract tree-changers who are looking for better work/life balance and want to rent before they buy in the area.
5. The numbers add up
While property prices across the country grew by around 23% in 2021, the highest increase was in rural and regional areas. Australians are discovering the benefits of towns like Mount Gambier, and property prices are starting to reflect that.
Right now, Mount Gambier is still an affordable place to invest. While prices in major cities climb beyond the $1 million mark, you can buy a lovely quality home in Mount Gambier for around $300,000. Choose wisely and you’ll get a quality home with a decent rental yield of around $320 per week. According to property investing data, the price of rental homes has jumped by over 12% over the last 12 months, while rental prices rose by 10%. This is great news for investors who want to have their properties paid off sooner.
As an investor, even if you don’t live in the area, you can have the peace of mind that your investment is being looked after with excellent property management services. We have a wealth of experience in this area and can take care of finding tenants and ensuring the home stays in good condition, so you don’t have to lift a finger.
Looking for real estate to buy or lease in Mount Gambier? Contact us today about our upcoming listings and property management services.