Get a property report and suburb profile for any property in Mount Gambier

Mount Gambier sits around a volcanic crater rim and is best known for the Blue Lake, the Umpherston Sinkhole and the Valley Lake precinct. It combines parkland and limestone features with a working regional centre of shops, health and education services, an airport and regular road links. Housing ranges from Victorian and early twentieth century cottages on tree-lined streets to mid-century homes and newer suburban estates, and the community includes long-term locals, families and retirees who value easy access to walking tracks, caves, gardens, galleries, cafes and the nearby coastline and farming country.

With a population of 25,591 and a median age of 41, Mount Gambier is dominated by couple families (together just under four in five families) and is mostly owner-occupied, with about two-thirds owned and just over a third rented. Recent public works have expanded hospital acute services, upgraded the regional airport and advanced school, road and precinct planning, which all feed into the everyday convenience of living here. Whether it suits you depends on whether a regional centre with parkland, services and a mixed, settled community fits what you want.

On the figures for Mount Gambier 5290, rents take a noticeable slice of a typical local household's income as recorded at the last Census. An average house rent of $470 a week is about 39.3% of the median weekly household income at the last Census, a sizeable share, while an average unit rent of $335 a week is about 28.0% of that income, a moderate share. Renting a unit therefore takes a smaller portion of a typical local household's income than renting a house.

Looking at buying, the median house price of $600,000 is about 9.6 times a typical local annual household income at the last Census, and the median unit price of $431,500 is about 6.9 times that annual income. Both price multiples sit well above what a typical local household earned at the last Census, with houses more stretched against that income than units. Whether that feels expensive will depend on your own circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

The most striking movement in Mount Gambier over the past 12 months was on the units side. Median unit values jumped 29.6%, a large rise, and unit rents climbed 13.6%, a strong increase. By comparison, median house values rose 10.8%, also a strong gain, while house rents increased a more modest 4.4%.

Put simply, units have been the stronger performer this year for both capital growth and rental income, whereas houses showed smaller rental growth relative to their price rise. Which of those outcomes matters to you will depend on whether you are prioritising capital growth or rental income.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.