Suburb Profile Report for Paynesville VIC (3880)

Paynesville House: Median price $306,500, Annual capital growth 2.43%, Number of sales 106, Weekly median advertised rent $290

Paynesville Unit: Median price $275,000, Annual capital growth 4.21%, Number of sales 14, Weekly median advertised rent $235

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report

Paynesville is in the bottom 30% in VIC when comparing median price capital growth over the last year. Paynesville gave property investors a disappointing capital gain figure when compared to the rest of the state, with 2.42%.

Over the longer term, Paynesville has seen property prices show investors a 3.90% return over the last 3 years. This is worse than over the last 12 months

Vendor discounting in Paynesville is giving property investors an average Vendor Discount of around -6.91%. This puts suburb at number 165th in VIC when ranking the most discounted suburbs.

With the median price for a house in Paynesville being $306500 and the advertised rent reaching $290 the gross rental yield for property investors calculates out to be 4.92%

Over the last year, property investments in Paynesville, 3880 have given investors a capital gain of 18.03%. This compares very favourably with the 2.98% for VIC as a whole.

Our latest figures would indicate that property sellers in Paynesville are currently offering property investors an average price cut of -7.79% below the asking price at the moment.

Situated 243.06km from the CBD, Paynesville is one of East Gippsland localities in the postcode 3880.

Metrics i HOUSE UNIT
$306,500 $275,000
-1.13% N/A
2.42% 18.03%
2.43% 4.21%
$290 $235
106 14
4.92% 4.44%
121.08 117.1

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
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Demographics
Total population 3236
Median household income ($/weekly) 745
Median age of persons 57
Median housing loan repayment ($/monthly) 1210
Average household size 2.1
  • Census Count Percent(%)
    5-14 years 292 9.0
    45-54 years 371 11.5
    55-64 years 592 18.3
    65-74 years 604 18.7
    75-84 years 360 11.1
    Others 1019 31.5
    Age Group
    Census Count Percent(%)
    Registered Married 1273 54.2
    Not Married 809 34.5
    Defacto Relationship 265 11.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 2592 84.7
    Greece 32 1.0
    Papua New Guinea 33 1.1
    United Kingdom 256 8.4
    Other 30 1.0
    Others 117 3.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 16 0.5
    Christianity 1918 65.8
    Islam 6 0.2
    Other Religious Groups 10 0.3
    No Religion 959 32.9
    Others 4 0.1
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 144 12.0
    $400-$599 225 18.7
    $600-$799 165 13.7
    $800-$999 150 12.5
    $1,500-$1,999 92 7.7
    Others 426 35.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1542 57.5
    Employed, worked full-time 586 21.8
    Employed, worked part-time 404 15.1
    Employed, away from work 87 3.2
    Unemployed, looking for work 65 2.4
    Person Characteristics
  • Census Count Percent(%)
    Managers 144 13.3
    Professionals 169 15.6
    Technicians & trades workers 191 17.7
    Community & personal service workers 136 12.6
    Clerical & administrative workers 134 12.4
    Others 308 28.5
    Occupation
    Census Count Percent(%)
    Pre-school 26 5.8
    Infants/Primary 179 40.1
    Secondary 148 33.2
    Technical or Further Educational Institution 47 10.5
    University or other Tertiary Institutions 27 6.1
    Others 19 4.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2380 85.4
    Semi-detached, row or terrace house, townhouse 182 6.5
    Flat, unit or apartment 167 6.0
    Caravan, cabin, houseboat 55 2.0
    House or flat attached to a shop, office 3 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 688 53.4
    Rented 322 25.0
    Being purchased 278 21.6
    Other tenure type 0 0.0
    Tenure Type
Census 2011, ABS
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