Suburb Profile Report for Paynesville VIC (3880)

Paynesville House: Median price $320,000, Annual capital growth 3.27%, Number of sales 112, Weekly median advertised rent $300

Paynesville Unit: Median price $287,500, Annual capital growth 5.14%, Number of sales 12, Weekly median advertised rent $240

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

Source: CoreLogic

  • House Report
  • Unit Report

Property investors who have had real estate in Paynesville, 3880 should be ok with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 7.02%

Over the longer term, Paynesville has seen property prices show investors a 9.59% return over the last 3 years. This is worse than over the last 12 months

Sellers are offering property buyers an average discount of -6.33% to buyers in Paynesville at the moment, which is less than average for the rest of VIC.

At number 141th in the list of Australian suburbs ordered by increase in median house value over the last year, Paynesville, 3880 is in the top 10% with a property value increase of 20.29% recorded in median house prices.

A 17.35% growth in median value for property investors in Paynesville,3880 puts this suburb at number 74th in terms of best performing suburbs in VIC

On average over the past year, suburb has had 1.00 sales per month, which equates to 12 per year.

Situated 202.51km from the CBD, Paynesville is one of East Gippsland localities in the postcode 3880.

Metrics i HOUSE UNIT
$320,000 $287,500
2.40% 4.55%
7.02% 20.29%
3.27% 5.14%
$300 $240
112 12
4.88% 4.34%
115.6 N/A

Source: CoreLogic

DSR Score for property investment : Balanced (H), Balanced (U)
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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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Recent sales & rentals