Regional SA · Mount Gambier
As South Australia's second-largest city, Mount Gambier offers a unique blend of urban convenience and natural wonder. Built on the slopes of an extinct volcano, its landscape is defined by crater lakes, lush gardens, and mysterious sinkholes. The city serves as the bustling commercial hub for the Limestone Coast, fostering a strong community spirit and a surprisingly vibrant arts and café culture, attracting families and professionals seeking a balanced, affordable regional lifestyle.
Market snapshot
Price register · May 2026
Median house
$475,000 - $650,000
Mid-band $563Kspread 31%
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Create Your Free ProfileLast reviewed 14 May 2026
Median unit
$350,000 - $475,000
Mid-band $413Kspread 30%
Days on market
~23-55 days
Median listing-to-sold window. Shorter = tighter buyer field.
Auction clearance
Private-treaty market
Share of auctions sold. Higher = stronger buyer competition.
Rental yield
3.8% to 4.8%
Gross yield on house stock. Premium suburbs compress.
5-year house-price growth
+66% to +86%
cumulative since 2021Who buys here
First-home buyers · Families seeking affordability · Regional investors
5-year trend
Modelled trajectory anchored on aggregated 5-year median figures. Indicative; not month-by-month observed data.
Market analysis
The Mount Gambier property market has demonstrated remarkable resilience and strong growth, positioning it as a standout regional performer in South Australia. Over the last year, median house prices have climbed by 13.3% to reach $555,000, while the unit market has seen an even more explosive annual growth of 33.9%, with a median price of $422,500. This upward trajectory is not a recent phenomenon; the five-year compound growth rate for houses stands at a robust 13.3%, indicating sustained and long-term demand.
Several factors are fueling this market momentum. A key driver is the city's relative affordability compared to metropolitan centres, which has attracted a significant influx of first-home buyers, families, and tree-changers, particularly in the post-pandemic shift to regional living. This migration has tightened supply and intensified competition. The low vacancy rate of just 0.93% and an average of 39 days on market for houses underscore the intense demand dynamics at play. Properties are selling quickly, and rental demand is exceptionally strong, pushing the gross rental yield for houses to a healthy 4.3%.
The local economy is diverse, with stable employment across forestry, agriculture, manufacturing, retail, and healthcare, insulating it from the volatility of single-industry towns. Significant public and private investment, including the $62.5 million Wulanda Recreation and Convention Centre and the Mount Gambier Regional Airport redevelopment, are enhancing local infrastructure and boosting economic confidence. These projects not only create jobs but also improve the city's amenities, making it an even more attractive place to live and invest. While the rapid price appreciation presents an affordability challenge, with an estimated 36 years to own a property based on current incomes, the market's fundamentals remain solid. Tight housing supply, strong population growth, and ongoing infrastructure investment suggest that Mount Gambier's property market is poised for continued stability and growth.
With five-year house price growth exceeding 76% and strong rental yields, Mount Gambier is a regional powerhouse delivering both capital growth and cash flow.
Why a buyers agent
Navigating the Mount Gambier property market requires deep local knowledge that goes beyond online listings. The city has distinct pockets, from the heritage homes near the town centre to newer developments on the periphery. An experienced buyer's agent understands the nuances of these micro-markets, including which areas are subject to new land releases that could impact future values. They have established relationships with local agents, providing access to off-market opportunities and a competitive edge in a fast-moving market where properties sell in just a few weeks. Furthermore, an expert can guide you through the complexities of a regional hub, advising on school catchments, infrastructure projects, and the economic drivers that will influence long-term growth, ensuring you don't just buy a house, but make a sound investment in this dynamic Limestone Coast city.
The property market has seen significant appreciation, with house prices rising 13.3% in the last year alone and over 76% in the past five years, offering strong returns for investors.
With a median house price of $555,000, Mount Gambier remains affordable compared to capital cities. This is complemented by a strong rental yield of 4.3%, providing excellent cash flow potential for investors.
As South Australia's second-largest city, it boasts a diverse economy, significant infrastructure investment like the Wulanda Centre, and excellent amenities including schools and healthcare, driving population growth and housing demand.
The city offers an unparalleled lifestyle, blending urban amenities with breathtaking natural wonders like the Blue Lake and numerous parks, attracting a steady stream of new residents seeking work-life balance.
An extremely low vacancy rate of under 1% indicates intense demand for rental properties, ensuring a reliable income stream and minimising investment risk for landlords.
Compare
| Metric | This suburbMount Gambier | NearbyMount Gambier West |
|---|---|---|
| Median house | $475,000 - $650,000 | $350,000 - $475,000 |
| Median unit | $350,000 - $475,000 | $275,000 - $375,000 |
| Auction clearance | — | — |
| Days on market | ~23-55 days | ~23-55 days |
| Year-on-year growth | +8% to +18% | +7% to +17% |
| 5-year growth | +66% to +86% | +58% to +78% |
| Rental yield | 3.8% to 4.8% | 4.1% to 5.1% |
| Postcode | 5290 | 5291 |
Snapshot date varies by suburb; see individual suburb pages for figures.
The place
Mount Gambier is the vibrant heart of the Limestone Coast, a city defined by its dramatic volcanic landscape and rich community life. Its most famous landmark is the Blue Lake/Warwar, a crater lake that mysteriously transforms to a brilliant turquoise blue in summer. The city is dotted with other natural wonders, including the stunning Umpherston Sinkhole/Balumbul, a sunken garden oasis, and the Cave Garden/Thugi in the city centre.
Education is well-catered for with a range of public and private schools. Public options include Mount Gambier High School, Grant High School, Reidy Park Primary School, and Melaleuca Park Primary School. Private schools include the well-regarded Tenison Woods College (Catholic) and St Martins Lutheran College. The University of South Australia and TAFE SA also have campuses in the city, providing pathways to higher education.
As a major regional service centre, Mount Gambier is well-connected. The Mount Gambier Regional Airport offers regular flights to Adelaide and Melbourne via QantasLink and Rex Airlines. V/Line and Premier Stateliner provide daily coach services to Melbourne and Adelaide respectively. Within the city, LinkSA operates several bus loops servicing key residential and commercial areas.
The city's retail and dining scene is centred around Commercial Street, which hosts major supermarkets like Coles and Woolworths, alongside a variety of independent shops, cafes, and restaurants. For recreation, residents enjoy numerous parks and facilities. The Valley Lake Recreation Area offers playgrounds, picnic spots, and walking trails, while the new Wulanda Recreation and Convention Centre provides state-of-the-art aquatic and sporting facilities. The Mount Gambier Rail Trail is a popular path for cyclists and walkers, traversing the city.
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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