Suburb Profile Report for Paynesville VIC (3880)

Paynesville House: Median price $307,500, Annual capital growth 2.45%, Number of sales 116, Weekly median advertised rent $290

Paynesville Unit: Median price $275,000, Annual capital growth 2.58%, 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

VIC has seen average median house prices change by 8.96% which means that Paynesville, 3880 has done well for property investors by showing a capital gain of 2.76% over the last year

If we look at median property appreciation over just the last three months, Paynesville has given property investors a paper return of 0.82%. This puts Suburb as 480 on a list of fastest fasting appreciating suburbs in VIC

Property buyers and investors in Paynesville 3880 should be seeing an average reduction in asking price of around -6.39% . This means that Paynesville is holding prices well when compared to other suburbs in VIC.

With the median price for a house in Paynesville being $307500 and the advertised rent reaching $290 the gross rental yield for property investors calculates out to be 4.90%

If you compare the increase in value of investment property in Paynesville, 3880 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 30.95%.

Over the longer term, Paynesville has seen property prices show investors a 14.11% return over the last 3 years. This is an improvement over the last 12 months

Situated 243.02km from the CBD, Paynesville is one of East Gippsland localities in the postcode 3880.

Metrics i HOUSE UNIT
$307,500 $275,000
0.82% N/A
2.76% 30.95%
2.45% 2.58%
$290 $240
116 12
4.90% 4.54%
113.08 N/A

Source: CoreLogic

DSR Score for property investment : Balanced (H), Above average (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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