Boom town: Mount Barker records more than $139 million of property sales as the state’s fastest growing region
Buyers are taking a shine to fresh country air, with Mount Barker recording the highest value of sales in the state last year.
According to CoreLogic’s Best Of The Best 2019 report, the popular Adelaide Hills town notched $139.9 million worth of sales on 375 properties, with a median value of $407,529.
This compares to $119.99 million worth of sales in Prospect and $105.9 million in Morphett Vale.
Other SA suburbs to make the top 10 include Mawson Lakes, Hallett Cove, Somerton Park, Magill, Rostrevor, Aldinga Beach, and Henley Beach – all recording total value of sales between $77 million and $98 million.
Ray White Woodside principal Angus Campbell said the data was not surprising, with the Mount Barker Council the state’s fastest growing region.
About 16,600 people currently call Mount Barker home, and by 2040 the council expects that figure to balloon to 40,000, making it the second largest city in SA.
“There is so much development in business and land packages, everywhere you look there is a developer advertising Mt Barker. It is on the radar and has a great market appeal,” Mr Campbell said.
“The trend is likely to continue for at least another 10 years.
“There are another 10,000 land allotments to be built on in Mt Barker, that equates to another 40,000 newcomers to the area over the next 10 years.
“That growth supports the economy, business growth and, in turn, employment.”
Mr Campbell said young families and single buyers were the driving force in the market.
“The 20 to 40-year-old market has boomed over the past five years. This has been the highest trend market in our region,” he said.
“They will buy their first affordable home, settle, couple up and then sell within five years, wanting something bigger for the pending family putting pressure of lifestyle property prices. “There is a significant new wave of youth heading for the Hills.”
Mount Barker’s ‘tree change’ appeal, and resulting population boom, is also trickling down into its neighbouring towns.
Meadows is already home to 1900 people, but the council is expecting that number to grow by 34 per cent over the next two decades.
Nairne’s population is due to increase by 20 per cent, Macclesfield’s will go up 12 per cent, and Littlehampton will see a nine per cent boost.
Long-term vision plans were released by Mount Barker Council last year to help facilitate ongoing growth.
The district’s acting general manager of planning and development, Marc Voortman, said the plans would help the region keep up with the transformation as more families consider the Hills as a charming alternative to Adelaide’s far north and south.
“You’re living in among beautiful landscaped areas and see primary production land from your doorstep, and we have high numbers of volunteers, a great community atmosphere and growing sporting clubs,” Mr Voortman said.
“Given the fact that Mount Barker is so rapidly growing … a lot of concentrated effort has been put on Mount Barker, (but) we’ve got 16 townships as a district that are all deserving of our attention.”
Article written by: Lydia Kellner, The Adelaide Hills News
Original article available here: https://www.adelaidenow.com.au/messenger/adelaide-hills/boom-town-mount-barker-records-more-than-139-million-of-property-sales-as-the-states-fastest-growing-region/news-story/7b722a440e068c8ff321f5fa82b293a5