Suburb Profile Report for Paynesville VIC (3880)

Paynesville House: Median price $308,000, Annual capital growth 1.98%, Number of sales 103, Weekly median advertised rent $290

Paynesville Unit: Median price $266,000, Annual capital growth 3.68%, Number of sales 21, Weekly median advertised rent $233

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

Source: CoreLogic

  • House Report
  • Unit Report

Paynesville, 3880 ranked 468th in VIC when comparing growth in median property values or capital gain over the last 12 months. Paynesville is one of 2098 in our list for VIC

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Paynesville has fallen somewhat when compared to the 5 year average annual rate.

At number 186th of VIC’s most discounted properties, Paynesville is in the bottom 30% of the state/territory when listing in order of most discounted to least.

A $290 per week rent on the median house gives suburb investors a gross yield of circa 4.90%, without taking into account capital value appreciation, which has been averaging out at 1.98%.

With a capital gain of 29.13% for the last 12 months, Paynesville, 3880 has performed for property investments than its average annual 3.68% property growth over the last 5 years.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Paynesville has increased when compared to the 5 year average annual rate.

Sellers are offering property buyers an average discount of -5.67% to buyers in Paynesville at the moment, which is less than average for the rest of VIC.

Situated 242.95km from the CBD, Paynesville is one of East Gippsland localities in the postcode 3880.

HOUSE UNIT
$308,000 $266,000
2.67% 10.83%
4.41% 29.13%
1.98% 3.68%
$290 $233
103 21
4.90% 4.55%
118.16 85.53

Source: CoreLogic

DSR Score for property investment : Balanced (U), Below 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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