Real Estate Korumburra Vic 3950

Real Estate Market: Is Korumburra VIC 3950 a Good Suburb to Buy Into?

Housing Market in Korumburra

Key Korumburra Metrics & Forecast to 2028

Sources: Property Listings and Microburbs, 2002 - 2023

Field	Value	VS Latrobe	Trend
Capital Growth Forecast: Houses	Premium	Premium	Premium
Capital Growth Forecast: Houses (2-Year Outlook)	Premium	Premium	Premium
Median yield for houses	Premium	Premium	Premium
Smart median rent: All houses	$503	Bottom 27%	235% to Mar 2025
Smart median sale price: All houses	Premium	Premium	Premium

Housing Supply in Korumburra

Korumburra Real Estate Investor Report

Sample Graphic

The higher the supply score the more supply is on the market, both current and future.
Sources: ABS, GEOSPATIAL, Property Listings, PLANNING ALERTS and Microburbs, 2002 - 2023

Korumburra

30.2%

Latrobe

33.6%

Compare
Suburbs

Field	Value	VS Latrobe	Trend
Development applications	0	Bottom 38%	to 0 to Jun 2025
Developments	0.1	Bottom 22%	Data for Jul 2023
Housing Stock Quality Indicator	38.0	Top 18%	Data for May 2023
Total new residential buildings value (SA2)	Premium	Premium	Premium
Days on market: houses	Premium	Premium	Premium
Days on market: units	Premium	Premium	Premium
Number of Subdivisions	4 lots	Bottom 45%	Data for Jun 2023
Volume of houses sold in the last 30 days	Premium	Premium	Premium
Volume of units sold in the last 30 days	Premium	Premium	Premium
Stock on Market	25	Top 6%	257% to Feb 2025

Housing Stock Quality in Korumburra

The higher the score, the higher the quality of the houses and units.
Sources: ABS, GEOSPATIAL, Property Listings and Microburbs, 2006 - 2023

Field	Value	VS Latrobe	Trend
Houses	91.7%	Bottom 22%	0 to Jan 2021
Average bedrooms - all homes	2.3	Bottom 34%	4% to Jan 2021
NBN connection: fibreoptic cable to node	2.8%	Top 19%	Data for Jun 2023

Development Restrictions in Korumburra

Korumburra Zoning Map

Sample Graphic

The higher the score, the more easily density can be increased.
Sources: GEOSPATIAL, TORREN, ABS and Microburbs, 2011 - 2023

Korumburra

23.2%

Latrobe

30.6%

Compare
Suburbs

Field	Value	VS Latrobe	Trend
Total area	63.0 sq km	Top 18%	Data for Jan 2021
Heritage overlay total area	0.1 sq km	Top 32%	Data for Jun 2023
Residential density	1720 sqm per resident	Top 44%	Data for Jan 2021

Risk in Korumburra

Korumburra Risk Report

Sample Graphic

The higher the score, the more exposed households are to financial stress.
Sources: ABS, Property Listings, TORREN and Microburbs, 2006 - 2023

Korumburra

34.3

Latrobe

36.1

Compare
Suburbs

Field	Value	VS Latrobe	Trend
% Owner Occupied	88.5%	Bottom 37%	1% to May 2023
% Rentals	11.5%	Top 37%	9% to May 2023
Housing Affordability Index	36	Top 39%	Data for Jun 2023
Median monthly mortgage	$1,550	Bottom 29%	32% to May 2023
Rent Affordability Index (Houses)	79	Top 43%	Data for Jun 2023
Rent Affordability Index (Units)	74	Bottom 39%	Data for Jun 2023
Mortgage as a percent of income	25.4%	Top 32%	17% to Jan 2021
Mortgaged Dwellings	40.9%	Top 43%	15% to May 2023

Housing Demand in Korumburra

The higher the score, the more demand their is for housing in the area, both current and future.
Sources: ABS, TORREN, Property Listings and Microburbs, 2004 - 2030

Korumburra

54.5%

Latrobe

55.8%

Compare
Suburbs

Field	Value	VS Latrobe	Trend
Net internal migration (LGA)	Premium	Premium	Premium
Net overseas migration (LGA)	Premium	Premium	Premium
Future Population (SA2)	11500	Bottom 46%	17% to Dec 2036
Historical Population (SA3)	73700	Top 42%	43% to Dec 2023
Historical population growth	Premium	Premium	Premium
Population (LGA)	31600	Top 35%	22% to Dec 2030
Population Projection (LGA)	Premium	Premium	Premium
Auction clearance rate	Premium	Premium	Premium
Proportion of distressed listings	Premium	Premium	Premium
Vacancy rate	Premium	Premium	Premium

Unit Market in Korumburra

Korumburra Unit Investor Report

Sample Graphic

Sources: Property Listings and Microburbs, 2002 - 2023

Field	Value	VS Latrobe	Trend
Median yield for units	Premium	Premium	Premium
Smart median rent: All units	$381	Bottom 19%	141% to Feb 2025
Smart median sale price: All units	Premium	Premium	Premium
Unit to house ratio	93.5%	Top 16%	4% to Mar 2025

LGA Details (1)

Headline	Place	Datetime
Local government area	South Gippsland

Percent of Renters by Street (100)

Percent of Renters	Street
6.6%	Ashford Cr
8.9%	Abby Rd
0.0%	Adkins St
50.0%	Alp St
20.0%	Amiets Rd

Median House Rental Prices by Street (10)

Level_0	Street	Date	Median rent (per week)
106344	Gordon St	13 Mar 2025	$430
106417	Jumbunna Rd	13 Mar 2025	$470
106618	Princes St	13 Mar 2025	$415
106755	Victoria St	13 Mar 2025	$425
106749	Valley View Pde	13 Mar 2025	$492

Median Unit Sale Prices by Street (100)

Date	Median sale value	Street
10 May 2024	$279,000	Isabella Bvd
10 May 2024	$390,000	Karmai Ct
10 May 2024	$220,000	Abby Rd
10 May 2024	$260,000	Mine Rd
10 May 2024	$239,000	Commercial St

Realtors (2)

Headline	Place	Datetime
Alex Scott & Staff	36 Bridge St
Treacy Real Estate	43 Commercial St

Accommodation Options (6)

Turnover Rate by Street (100)

Turnover rate	Street	Turnover Label	Turnover Years	Year
119.5%	Queen St	very high turnover	Every 8.4 years (very high turnover)	2025
68.8%	Scott And Faheys Rd	average turnover	Every 14.5 years (average turnover)	2025
160.0%	Henry St	very high turnover	Every 6.2 years (very high turnover)	2025
84.0%	Coal Creek Rd	average turnover	Every 11.9 years (average turnover)	2025
70.7%	George St	average turnover	Every 14.1 years (average turnover)	2025

Median House Sale Prices by Street (100)

Street	Date	Median sale value
Jumbunna Rd	10 May 2024	$520,000
Mountain Ash Dr	10 May 2024	$747,000
Goad Ct	10 May 2024	$561,000
George St	10 May 2024	$600,000
Gordon St	10 May 2024	$460,500

Businesses (57)

Name	Address
Auddino First National Real Estate	73, Commercial St
Simply White	35, Victoria St
Lee Hopkins	61, Mine Rd
Jeremy Calder	21, Jumbunna Rd
Dowel G T & G A	51, Stedmans Rd

Planning Applications: Dwellings (13)

Headline	Place	Date
Use and develop land for group accommodation (3 cabins), Licensed Restaurant, Floodlit Business Identification Sign and waiver of car parking (2 spaces) and bicycle parking (1 space) - Amendment - South Gippsland Shire Council 2015/390/A	290 Clancys Road Korumburra VIC 3950	14 Jan 2025
4 Lot subdivision & Use of land for a Dwelling - Streamlined Planning through Electronic Applications and Referrals S242029J	120 Kardella Road, Korumburra VIC 3950	21 Dec 2024
Development of two (2) dwellings and two (2) lot subdivision - South Gippsland Shire Council 2023/122	77 Princes Street Korumburra VIC 3950	18 Jan 2024
Construct and carryout works within the Rural Living Zone and Environmental Significance Overlay Schedule 5 - South Gippsland Shire Council 2023/183	11 Ayrlie Park Crescent Korumburra VIC 3950	22 Aug 2023
Buildings and works, construct and display signage internally illuminated business identification signage and non-illuminated promotion signage and use land to sell or consume liquor (drive through bottle shop) - South Gippsland Shire Council 2023/163	84 Commercial Street Korumburra VIC 3950	04 Aug 2023

Planning Applications: Other (18)

Headline	Place	Date
Use and develop land for group accommodation (3 cabins), Licensed Restaurant, Floodlit Business Identification Sign and waiver of car parking (2 spaces) and bicycle parking (1 space) - Amendment - South Gippsland Shire Council 2015/390/A	290 Clancys Road Korumburra VIC 3950	14 Jan 2025
Use of land for a bar and reduction of car parking requirements - South Gippsland Shire Council 2024/190	113 Commercial Street Korumburra VIC 3950	17 Sep 2024
Use of the land for Restricted Recreation Facility (Children's play centre) and variation of bicycle facility requirements Amend: - what the permit allows - current conditions of the permit - plans endorsed under the permit - South Gippsland Shire Council 2018/159/B	9 Mine Road Korumburra VIC 3950	28 Feb 2024
Buildings and works, construct and display signage internally illuminated business identification signage and non-illuminated promotion signage and use land to sell or consume liquor (drive through bottle shop) - South Gippsland Shire Council 2023/163	84 Commercial Street Korumburra VIC 3950	04 Aug 2023
Creation of a Carriageway Easement over the existing track to preserve its current use into the future - Streamlined Planning through Electronic Applications and Referrals S191570E	65 Korumburra-warragul Road, Korumburra VIC 3950	12 May 2022

Planning Applications: Industrial (3)

Headline	Place	Date
Use and development of land for an 8 lot subdivision, warehouses, a storage facility, car wash and reduction in car parking requirement - South Gippsland Shire Council 2024/46	15 Sanders Street Korumburra VIC 3950	29 Apr 2024
Use and Development of the land for five (5) warehouse buildings and reduction in the car parking requirement - South Gippsland Shire Council 2022/405	5 Western Court Korumburra VIC 3950	24 Feb 2023
Use and development of land for Rural Industry (wine manufacturing) - South Gippsland Shire Council 2020/383	8805 South Gippsland Highway Korumburra VIC 3950	13 Mar 2021

Recently Sold Houses (100)

Address	Price	Bedrooms	Bathrooms	Garage spaces	Date sold	Sale Type
36 Radovick St	$480,000	3.0	1.0	2.0	05 Mar 2025	On Market
68 Stuart St	$945,000	4.0	2.0	4.0	05 Mar 2025	On Market
27 Station St	Price Withheld	4.0	1.0	0.0	04 Mar 2025	On Market
1 Swanson St	$278,000	2.0	1.0	2.0	04 Mar 2025	On Market
21 Goad Ct	$470,000	3.0	2.0	1.0	03 Mar 2025	On Market

Recent Rental House Listings (100)

Address	Rent (per week)	Bedrooms	Bathrooms	Garage spaces	Date
72 Hillcrest Way	$690	4	2	1	17 Feb 2025
72 Hillcrest Way	$690	4	2	1	17 Feb 2025
72 Hillcrest Way	$690	4	2	1	17 Feb 2025
72 Hillcrest Way	$690	4	2	1	17 Feb 2025
72 Hillcrest Way	$690	4	2	1	17 Feb 2025

Recent Rental Unit Listings (100)

Address	Rent (per week)	Bedrooms	Bathrooms	Garage spaces	Date
Unit 12, 31 Jumbunna Rd	$380	2.0	1.0	1.0	27 Nov 2024
Unit 12, 31 Jumbunna Rd	$380	2.0	1.0	1.0	27 Nov 2024
Unit 12, 31 Jumbunna Rd	$380	2.0	1.0	1.0	27 Nov 2024
Unit 12, 31 Jumbunna Rd	$380	2.0	1.0	1.0	27 Nov 2024
Unit 12, 31 Jumbunna Rd	$380	2.0	1.0	1.0	27 Nov 2024

Recently Sold Units (100)

Address	Price	Bedrooms	Bathrooms	Garage spaces	Date sold	Sale Type
Unit 4, 60 Valley View Pde	$380,000	2.0	1.0	1.0	18 Feb 2025	On Market
Unit 4, 60 Valley View Pde	$380,000	2.0	1.0	1.0	18 Feb 2025	On Market
Unit 4, 60 Valley View Pde	$380,000	2.0	1.0	1.0	18 Feb 2025	On Market
Unit 4, 60 Valley View Pde	$380,000	2.0	1.0	1.0	18 Feb 2025	On Market
Unit 4, 60 Valley View Pde	$380,000	2.0	1.0	1.0	18 Feb 2025	On Market