Paynesville has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of 3.68% to date .
While Paynesville,3880 ranked number 481th in VIC for increase in median house value (annualised) increase, it is ranked 557th over the last 5 years.
Paynesville, 3880 is offering VIC ‘s 211th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this VIC.
At number 3098 in a list of fastest selling suburbs, Paynesville is in the bottom 20% of suburbs in Australia with an average of days on market 116.4 for properties listed there.
The VIC suburb of Paynesville, 3880 is in the East Gippsland local government area.
At number 90th 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 22.22% recorded in median house prices.
The five-year average increase in median property values for Paynesville,3880 has given property investors a potential capital gain of 8.06% across each of those five years.
LACK OF BUYER INTEREST may well be the reason that Paynesville is offering property investors an average of -5.13. This rate of discount on properties puts Suburb at number 23th in terms of most discounted suburbs in VIC
On average over the past year, suburb has had 1.17 sales per month, which equates to 14 per year.
Renters in Suburb are facing rents around $2880 per annum or $240 every week.