Korumburra

With a population of 4,749 residents, Korumburra appeals to families and professionals alike. The suburb has a diverse age range, with a significant number of residents between 5 to 64 years old. The median household income is $1,175 weekly, and the median mortgage repayment is $1,300 monthly. The top occupations include Technicians and Tradeworkers, Professionals, and Managers. Residents prefer commuting by motor vehicle, followed by working from home. Korumburra presents opportunities for both homeowners and investors. The sale prices for houses and units have shown consistent growth over the years, with a high demand for rental properties. The suburb's low vacancy rate indicates a stable rental market. For investors seeking renovating opportunities, the high sale price IQR ratio for houses suggests potential in this segment. With a market absorption rate of 9.4%, Korumburra indicates a balanced market for property investment. Korumburra, with its family-friendly environment and strong rental demand, offers a mix of opportunities for both home buyers and investors. The suburb's steady property growth and stable market conditions make it an attractive option for long-term investment in the housing market. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022