Regional SA · Mount Gambier
Millicent is a significant service town on the Limestone Coast, characterized by its strong agricultural and timber industry roots. It offers a peaceful, rural lifestyle with a tight-knit community spirit, surrounded by natural attractions like Canunda National Park and the Tantanoola Caves. The town blends historic charm with essential modern amenities, making it appealing for those seeking a relaxed pace of life within a supportive community.
Market snapshot
Price register · May 2026
Median house
$325,000 - $450,000
Mid-band $388Kspread 32%
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Create Your Free ProfileLast reviewed 14 May 2026
Median unit
$275,000 - $375,000
Mid-band $325Kspread 31%
Days on market
~43-99 days
Median listing-to-sold window. Shorter = tighter buyer field.
Auction clearance
Private-treaty market
Share of auctions sold. Brisbane skews private-treaty.
Rental yield
5.1% to 6.1%
Gross yield on house stock. Premium suburbs compress.
5-year house-price growth
+86% to +106%
cumulative since 2021Who buys here
Families · Retirees · First-home buyers
5-year trend
Modelled trajectory anchored on aggregated 5-year median figures. Indicative; not month-by-month observed data.
Market analysis
The Millicent property market presents a compelling case for both homebuyers and investors, characterized by its affordability, strong rental yields, and steady growth. The median house price currently sits at an accessible $395,000, having experienced a compound annual growth rate of 6.8%. This recent growth is part of a larger trend, with some data indicating a remarkable five-year growth of 96.18%, showcasing the town's increasing appeal.
Supply and demand dynamics are a key driver in this market. The number of properties for sale is often constrained, with just 7 properties for sale and 5 for rent in a recent monthly snapshot. This tight supply, coupled with a very low vacancy rate of around 0.23%, creates a landlord-favourable environment. For investors, this translates to strong rental returns, with the gross rental yield for houses reported at an attractive 5.6%. Days on market for a typical three-bedroom house is around 70 days, suggesting a healthy and balanced pace of sales.
The market is primarily composed of houses, with units representing a much smaller segment. However, the unit market has seen extraordinary growth, with a reported annual compound growth rate of 39.8%, albeit from a low base with few sales. This suggests a growing, albeit niche, demand for smaller, lower-maintenance dwellings in the area.
With a median house price under $400,000 and rental yields exceeding 5.5%, Millicent offers an affordable entry point into a tightly held and growing regional market.
Key economic drivers include the town's traditional industries of agriculture and forestry, which provide a stable employment base. Its role as a service hub for the surrounding Wattle Range Council area ensures consistent demand for housing. While public transport is limited, the town's connectivity via the Princes Highway to the larger regional centre of Mount Gambier (50km south) underpins its value proposition, offering access to wider services and employment opportunities. For those seeking affordability without sacrificing amenities, Millicent offers a strong investment thesis based on solid fundamentals: high yields, low vacancy, and consistent long-term growth potential.
Why a buyers agent
A buyer's agent in Millicent provides indispensable local knowledge in a market defined by nuance and limited stock. They can offer early access to off-market opportunities in a town where properties are tightly held, as evidenced by long average holding periods. An expert on the ground can differentiate between the various pockets of Millicent, advising on locations relative to the paper mill's historical influence, proximity to schools like Millicent High and Millicent North Primary, and access to the Princes Highway for commuters. They understand the subtle factors that impact value, from street-level appeal to the specific drivers of demand from local employment sectors like agriculture and timber. For an out-of-town buyer, navigating the low volume of listings and assessing fair market value without this insight is a significant challenge. An agent can cut through the noise, ensuring you invest wisely in this promising regional hub.
With a median house price under $400,000, Millicent offers an accessible entry point to the property market for first-home buyers, families, and investors alike.
Investors are attracted to Millicent for its high rental yields, which are around 5.6% for houses, and an extremely low vacancy rate, ensuring consistent rental income.
The town provides a peaceful, family-friendly rural lifestyle with a strong community spirit, good schools, and is surrounded by natural attractions like national parks and caves.
As a key service town for the Wattle Range region with excellent road links to Mount Gambier, Millicent's economy is stable and its role as a regional hub underpins property values.
The place
Millicent is a substantial, self-sufficient town located on the Limestone Coast of South Australia, approximately 50 kilometres north of Mount Gambier. Its character is defined by a blend of agricultural heritage and a strong sense of community, set against a backdrop of scenic natural beauty. The town serves as a key commercial and service centre for the Wattle Range Council area.
Education is well-catered for with several local schools, including Millicent North Primary School, St Anthony's Catholic Primary School, and Millicent High School, making it a practical choice for families.
While public transport within the town is limited, Stateliner bus services provide daily connections to Adelaide and other regional centres, and the Princes Highway offers excellent road connectivity. The nearest airport is in Mount Gambier, providing regular flights to Adelaide and Melbourne.
The main shopping precinct is centred around George Street, offering supermarkets, banks, cafes, and specialty stores. For recreation, the town boasts numerous parks, a constructed lake named Lake McIntyre which is a haven for birdlife, and the Millicent Civic & Arts Centre. Residents enjoy proximity to stunning natural attractions, including the nearby Canunda National Park for coastal exploration and the famous Tantanoola Caves. A popular local event is the Millicent Showground Market, held on the first Saturday of each month, which brings the community together to browse local produce, crafts, and more.
Frequently asked
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The 5-year trajectory is a modelled curve anchored on the documented cumulative growth rate. Editorial review: 14 May 2026. Updated quarterly.
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