If you compare the increase in value of investment property in Korumburra, 3950 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 3.85%.
If we look at median property appreciation over just the last three months, Korumburra has given property investors a paper return of 1.85%. This puts Suburb as 155 on a list of fastest fasting appreciating suburbs in VIC
Vendor discounting in Korumburra is giving property investors an average Vendor Discount of around -3.96%. This puts suburb at number 571th in VIC when ranking the most discounted suburbs.
At number 1295 in a list of fastest selling suburbs, Korumburra is in the TOP 40% of suburbs in Australia with an average of days on market 67.4058 for properties listed there.
A $320 per week rent on the median house gives suburb investors a gross yield of circa 5.25%, without taking into account capital value appreciation, which has been averaging out at 4.48%.
Property investors who have had real estate in Korumburra, 3950 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 20.65%
Korumburra3950 is located in VIC which offers an average discount of -6.24% to property investors. Korumburra itself is showing figures that indicate -2.55% is the average achievable by property buyers investing in the suburb.
On average over the past year, suburb has had 0.83 sales per month, which equates to 10 per year.
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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.
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