Suburb Profile Report for Korumburra VIC (3950)

Korumburra House: Median price $255,000, Annual capital growth 3.27%, Number of sales 81, Weekly median advertised rent $250

Korumburra Unit: Median price $221,000, Annual capital growth -0.30%, Number of sales 12, Weekly median advertised rent $240

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

VIC has seen average median house prices change by 8.27% which means that Korumburra, 3950 has done well for property investors by showing a capital gain of -3.77% over the last year

If we look at median property appreciation over just the last three months, Korumburra has given property investors a paper return of -2.30%. This puts Suburb as 602 on a list of fastest fasting appreciating suburbs in VIC

Property buyers and investors in Korumburra 3950 should be seeing an average reduction in asking price of around -6.92% . This means that Korumburra is holding prices well when compared to other suburbs in VIC.

Using the current median advertised rental of $250 and the average annual increase in value of a median property of 3.27%, investors should hope to achieve an overall return of 5.10%

Over the last year, property investments in Korumburra, 3950 have given investors a capital gain of 11.62%. This compares very favourably with the 3.49% for VIC as a whole.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Korumburra has fallen somewhat when compared to the 5 year average annual rate.

Situated 102.43km from the CBD, Korumburra is one of South Gippsland localities in the postcode 3950.

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VIC has seen average median house prices change by -0.30% which means that Korumburra, 3950 has not done well for property investors by showing a capital gain of -10.10% over the last year.

A 13.25% growth in median value for property investors in Korumburra,3950 puts this suburb at number 622th in terms of best performing suburbs in VIC.

The most recent median price for Korumburra is $218000, with sellers offering an average of -10.03% off the asking price.

Renters in Suburb are facing rents around $2760 per annum or $230 every week.Full summary
VIC has seen average median house prices change by -0.30% which means that Korumburra, 3950 has not done well for property investors by showing a capital gain of -10.10% over the last year.
 
A 13.25% growth in median value for property investors in Korumburra,3950 puts this suburb at number 622th in terms of best performing suburbs in VIC.
 
The most recent median price for Korumburra is $218000, with sellers offering an average of -10.03% off the asking price.
 
Renters in Suburb are facing rents around $2760 per annum or $230 every week.
 
Selling points: Central to all Major towns and tourist attractions & 45 mins from Melbourne’s South Eastern suburbs.
 
Most sought-after properties: Lifestyle Farmlets/Farms and general housing requirements, new estate homes and land
 
Most common properties:  as above
 
Top amenities: All services, hospital, heated Olympic swimming pool, IGA supermarket, all sporting clubs inc. Football, golf, tennis, bowls etc
 
Local industry and business: Dairy Farming & Burra Foods
 
Recent changes: 4 New Housing Estates in last 5 years have opened
 
Best streets: Radovick Street, Queen Street & Valley Views Estate
 
Public transport: V/Line buses
 
Main arteries: South Eastern Suburbs

 

Close
Metrics i HOUSE UNIT
$255,000 $221,000
-2.30% N/A
-3.77% 11.62%
3.27% -0.30%
$250 $240
81 12
5.10% 5.65%
113.41 N/A

Source: CoreLogic

DSR Score for property investment : Above average (H), Balanced (U)
Find a mortgage broker in Korumburra VIC
Demographics
Total population 4374
Median household income ($/weekly) 874
Median age of persons 43
Median housing loan repayment ($/monthly) 1322
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 615 14.1
    25-34 years 401 9.2
    35-44 years 542 12.4
    45-54 years 586 13.4
    55-64 years 607 13.9
    Others 1623 37.1
    Age Group
    Census Count Percent(%)
    Registered Married 1580 50.7
    Not Married 1242 39.9
    Defacto Relationship 292 9.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 3686 88.0
    Japan 65 1.6
    New Zealand 42 1.0
    Papua New Guinea 48 1.1
    United Kingdom 208 5.0
    Others 138 3.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 25 0.6
    Christianity 2603 65.7
    Hinduism 8 0.2
    Other Religious Groups 12 0.3
    No Religion 1308 33.0
    Others 3 0.1
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 181 11.7
    $400-$599 234 15.2
    $600-$799 181 11.7
    $800-$999 183 11.9
    $1,500-$1,999 171 11.1
    Others 593 38.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1414 42.1
    Employed, worked full-time 1053 31.4
    Employed, worked part-time 665 19.8
    Employed, away from work 128 3.8
    Unemployed, looking for work 95 2.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 240 13.0
    Professionals 225 12.2
    Technicians & trades workers 334 18.1
    Sales 211 11.4
    Labourers 231 12.5
    Others 606 32.8
    Occupation
    Census Count Percent(%)
    Pre-school 66 7.0
    Infants/Primary 380 40.3
    Secondary 334 35.4
    Technical or Further Educational Institution 88 9.3
    University or other Tertiary Institutions 49 5.2
    Others 26 2.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3808 94.4
    Flat, unit or apartment 126 3.1
    Semi-detached, row or terrace house, townhouse 63 1.6
    Caravan, cabin, houseboat 25 0.6
    House or flat attached to a shop, office 12 0.3
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 672 41.5
    Being purchased 578 35.7
    Rented 351 21.7
    Other tenure type 19 1.2
    Tenure Type
Census 2011, ABS
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Recent sales & rentals