Median property prices in regional SA remain stable

The regional residential real estate market in South Australia has recorded the same median price at the end of 2012 as it did in 2011.

Regional real estate in the state has a median value of $250,000 and given stability in prices, the Real Estate Institute of South Australia (REISA) is positive about the coming 12 months.

President of the REISA Greg Moulton said potential buyers are showing greater interest thanks to the recent spate of interest rate cuts.

He commented: "Regional markets often follow the metropolitan buying patterns and we are starting to see slightly increased activity, which is important as there is a high level of stock on the market in all areas.

"Now that interest rates have moved a little further down, there should start to be more momentum to buy, which will prompt local markets to recover in 2013."

Mr Moulton added that the return of investors to the real estate sector will be a sign of optimism.

The president continued by saying that the median value provided is not a guide for every local town. He said each location will be different and should be analysed on a case-by-case basis.