Korumburra has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -1.48% to date .
If we look at median property appreciation over just the last three months, Korumburra has given property investors a paper return of 1.29%. This puts Suburb as 367 on a list of fastest fasting appreciating suburbs in VIC
The most recent median price for Korumburra is $315250, with sellers offering an average of -4.82% off the asking price.
Situated 102.19km from the CBD, Korumburra is one of South Gippsland (S) localities in the postcode 3950.
Korumburra, 3950 is offering VIC ‘s 238th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 10% of discounts offered by this VIC.
With the median price for a house in Korumburra being $317250 and the advertised rent reaching $260 the gross rental yield for property investors calculates out to be 4.26%
Information supplied by:
Korumburra, VIC – Affordability and growth in South Gippsland
Median house price: $317,000
Three-year growth: 21.9%
Rental yield: 5.2%
Sitting among the rolling foothills of the Strzelecki Ranges in South Gippsland, the suburb of Korumburra began as a mining centre for black coal in the late 1800s. However, with the collapse of mining, dairy became the main industry of the area, with its fertile ground and reliable levels of rainfall making it a perfect spot for raising cattle.
Commercial Street serves as Korumburra’s shopping hub. The hills serve as a stunning natural background, and several parks and reserves further highlight the natural appeal of the suburb. Coleman Park has a playground, pool and picnic areas for recreation. As an affordable area with steady growth, Korumburra is an excellent option indeed for investors.