Korumburra is a smaller suburb in Victoria within the South Gippsland local government area (postcode 3950). With a population of 4,749, the suburb has a mature demographic with a median age of 47. Households earn a median income of $61K per year, with an average household size of 2.3 people. The most common occupations are technicians & trades, labourers, community & personal service. The top ancestries reported are English, Australian, Scottish.
The median house price in Korumburra is $550,000, having remained flat 0% over the past year. Units have a median price of $415,000 (+1.2% YoY). The current median weekly rent is $400. This gives a gross rental yield of approximately 3.8%. The median monthly mortgage repayment is $1,300.
Korumburra is served by 3 schools, including 2 primary, 1 secondary. The average ICSEA score is 984, which is around the national average of 1,000. Public transport access includes 1 rail station, 7 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the South Gippsland LGA is higher than average at 8,421 incidents per 100,000 population.
From an investment perspective, Korumburra offers a gross rental yield of 3.8%, rated as moderate yield. Property prices sit below the state median ($550K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 9.0x is considered moderate. House prices have moved +0.0% year-on-year.
Korumburra is a smaller suburb in Victoria within the South Gippsland local government area (postcode 3950). With a population of 4,749, the suburb has a mature demographic with a median age of 47. Households earn a median income of $61K per year, with an average household size of 2.3 people. The most common occupations are technicians & trades, labourers, community & personal service. The top ancestries reported are English, Australian, Scottish.
The median house price in Korumburra is $550,000, having remained flat 0% over the past year. Units have a median price of $415,000 (+1.2% YoY). The current median weekly rent is $400. This gives a gross rental yield of approximately 3.8%. The median monthly mortgage repayment is $1,300.
Korumburra is served by 3 schools, including 2 primary, 1 secondary. The average ICSEA score is 984, which is around the national average of 1,000. Public transport access includes 1 rail station, 7 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the South Gippsland LGA is higher than average at 8,421 incidents per 100,000 population.
From an investment perspective, Korumburra offers a gross rental yield of 3.8%, rated as moderate yield. Property prices sit below the state median ($550K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 9.0x is considered moderate. House prices have moved +0.0% year-on-year.