Suburb Profile Report for Paynesville VIC (3880)

Paynesville House: Median price $310,000, Annual capital growth 2.63%, Number of sales 117, Weekly median advertised rent $290

Paynesville Unit: Median price $275,000, Annual capital growth 4.34%, Number of sales 14, Weekly median advertised rent $240

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

Source: CoreLogic

  • House Report
  • Unit Report

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.

Metrics i HOUSE UNIT
$310,000 $275,000
0.32% N/A
3.68% 22.22%
2.63% 4.34%
$290 $240
117 14
4.86% 4.54%
116.4 118.4

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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Recent sales & rentals