The area seeing the strongest growth was South Australia ’ s south-east with the town of Port Elliot benefitting from the biggest jump . While the town has become very expensive over the past two years , it ’ s still great value for such a beautiful resort location . Tanunda in the Barossa Valley also saw strong growth , driven similarly by lifestyle factors . More surprising was the growth in Andamooka . Located half an hour from Olympic Dam , strong growth in mining drove price growth in this town .
While wheat prices are likely to remain elevated , it ’ s likely that the slowdown in pricing we ’ re starting to see nationally will impact the regional South Australian housing market . It ’ s unlikely that many people will want to get rid of their Port Elliot or Tanunda holiday home , or that mining is about to slow down anytime soon . Rather , sentiment has shifted , rates are on the move and as a result the market will slow .
17