Suburb Profile Report for Paynesville VIC (3880)

Paynesville House: Median price $308,000, Annual capital growth 1.90%, Number of sales 89, Weekly median advertised rent $280

Paynesville Unit: Median price $257,500, Annual capital growth 2.57%, Number of sales 19, Weekly median advertised rent $235

  • 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 4.41%

If we look at median property appreciation over just the last three months, Paynesville has given property investors a paper return of 2.67%. This puts Suburb as 195 on a list of fastest fasting appreciating suburbs in VIC

The most recent median price for Paynesville is $308000, with sellers offering an average of -6.90% off the asking price.

Residents and property investors in Paynesville have been waiting around 106.95 days to sell a property.

Paynesville, 3880’s gross rental yield is 4.73%

Paynesville, 3880 ranked 26th 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

Taking the average capital gain, or increase in median house value, Paynesville,3880 has racked up an average of 17.05% over the period. This ranks it number 483th in the whole country for real estate investors looking at median house price increases.

Paynesville3880 is located in VIC which offers an average discount of -5.33% to property investors. Paynesville itself is showing figures that indicate -5.78% is the average achievable by property buyers investing in the suburb.

On average over the past year, suburb has had 1.58 sales per month, which equates to 19 per year.

Property investors should expect to get $235 weekly from the median priced house in this suburb.

HOUSE UNIT
$308,000 $257,500
2.67% 8.19%
4.41% 17.05%
1.90% 2.57%
$280 $235
89 19
4.73% 4.75%
106.95 100.4

Source: CoreLogic

DSR Score for property investment : Below average (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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Recent sales & rentals