Lake Bunga, located in East Gippsland, Victoria, boasts a unique and tranquil housing market characterized by its scenic beauty and relaxed coastal lifestyle. The area is known for its close proximity to both pristine beaches and lush bushlands, making it a desirable destination for those looking to escape the hustle and bustle of city life. The housing market in Lake Bunga offers a mix of charming coastal homes, modern developments, and expansive properties, often at more affordable prices compared to nearby urban centers. The serene environment combined with the relatively lower cost of living has attracted a diverse mix of residents, including retirees, families, and nature enthusiasts looking to immerse themselves in the idyllic surroundings.
Living in Lake Bunga means enjoying a peaceful community atmosphere with plenty of opportunities for outdoor activities. The coastline and nearby lakes provide excellent spots for fishing, swimming, and kayaking, while the surrounding national parks are perfect for hiking, birdwatching, and picnicking. The town exudes a friendly and laid-back vibe, where neighbors often know each other and community events are well-attended. Despite its quiet setting, Lake Bunga is only a short drive from the larger towns of Bairnsdale and Lakes Entrance, which offer additional shopping, dining, and recreational amenities. Residents of Lake Bunga enjoy a balance of tranquility and convenience, making it a delightful place for those who appreciate the great outdoors and a tight-knit community atmosphere.
Median Weekly Rent | $270.67 |
Median Monthly Mortgage | $1307.00 |
Median Persons Per bed houseroom | 0.70 |
Average Household Size | 2.00 |
Average Age | 56.00 |
Average Income | $539.67 |
Average Cars Per Dwelling | 1.66 |
Average Properties Within 50M | 7 |
Typical 1 bed house | $604,000 |
Typical 2 bed house | $402,000 |
Typical 3 bed house | $570,000 |
Typical 4 bed house | $724,000 |
Typical 5 bed house | $456,000 |
Typical 6 bed+ house | $456,000 |
Housing Stock
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Thinking about buying in Lake Bunga? Now could not be a better time, with just 328 residential dwellings it's a highly sought after location. The average property price in this area is in the region of $479,000 with prices in this suburb ranging from $151,000 to $1,049,000. Lake Bunga is located very near to the coast so expect stunning views of the ocean and access to beaches. Demand is likely to be very strong in this location which will support higher prices
Consistent high demand relative to supply is a key feature in Lake Bunga driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. In this area of average incomes, there is a mix of housing size and quality. While this may present buying opportunities, growth may be constrained. As buyers begin to examine Lake Bunga due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. The slightly lower than average earnings from occupations in Lake Bunga changes the housing and lifestyle preference. It is more a matter of what can be afforded rather than what would we prefer, leading to slower price increases over time. Lower than average population density constrains growth in Lake Bunga to an extent. However, where buyers are willing to compromise on housing and lifestyle choice, there are affordable options. With very low industrial sector presence in Lake Bunga the focus is on lifestyle, driving specific demand around facilities, services, and open space. Most people are employed in service sectors with a higher than average proportion being able to work from home. This may incease demand over the medium term.
Instant Property Valuation92 Lake Bunga Beach Road, Lake Bunga, VIC, 3909 | $289,000 |
Toorloo Arm Primary School
St Brendan's School
(While the above schools are located with the suburb of Lake Bunga there may also be nearby schools whose catchments cover this suburb)Incidents Trend State Average
(mm) RAIN | Min (°C) TEMP | Max (°C) TEMP | Min (%) HUMIDITY | Max (%) HUMIDITY | (m/sec) WIND | (MJ/sq m) SOLAR | |
---|---|---|---|---|---|---|---|
Jan | 1.9 | 14.5 | 25.1 | 48.8 | 89.0 | 2.5 | 22.0 |
Feb | 2.2 | 14.5 | 24.7 | 51.2 | 91.2 | 2.4 | 19.2 |
Mar | 2.5 | 13.3 | 22.7 | 53.0 | 90.8 | 2.5 | 15.1 |
Apr | 2.3 | 11.0 | 19.5 | 53.9 | 89.8 | 2.8 | 12.4 |
May | 2.0 | 8.6 | 15.8 | 56.2 | 87.3 | 3.1 | 9.3 |
Jun | 2.8 | 6.5 | 13.1 | 61.5 | 89.2 | 3.0 | 7.7 |
Jul | 2.2 | 6.3 | 13.2 | 57.7 | 86.9 | 3.4 | 8.0 |
Aug | 1.8 | 6.1 | 13.9 | 50.6 | 86.3 | 3.5 | 10.4 |
Sept | 2.4 | 7.9 | 17.2 | 47.9 | 88.4 | 3.2 | 14.5 |
Oct | 2.7 | 9.2 | 19.3 | 48.8 | 89.9 | 2.9 | 18.3 |
Nov | 2.7 | 11.1 | 21.3 | 49.5 | 90.9 | 2.7 | 21.4 |
Dec | 2.3 | 13.1 | 23.9 | 46.8 | 89.6 | 2.5 | 23.8 |
source: Australian Government Bureau of Meteorology
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