Mount Gambier first home buyers spending $150,000 plus

A typical home owner in Mount Gambier could be a first home buyer, a family or an empty nester, according to a recent report from the Herron Todd White valuation firm.

First home buyers are generally younger and look for a property that is within the $150,000 to $250,000 price range.

Families are generally after a home that has 3- to 4-bedrooms and perhaps two living areas and is within the price range of $250,000 to $450,000.

"For empty nesters it is varying," the report said.

"They may be looking to downsize from a large family home.

"They are pretty flexible and may choose to either buy or build a modern, smaller dwelling for easier maintenance.

"A lot of empty nesters are also selling and following their children to university or even packing up and travelling."

Recently, a three-bedroom house at 61 Acacia Street, picture above, in Mount Gambier recently sold for $185,000.

Another three-bedroom house at 81 Cardinia Street recently changed hands for $220,000.

HTW noted with the construction grant still in place for first home buyers, it is still common for first home buyers to build their first home.

These homes are generally within the price range of $250,000 to $350,000.