Suburb Profile Report for Paynesville VIC (3880)

Paynesville House: Median price $309,000, Annual capital growth 2.42%, Number of sales 114, Weekly median advertised rent $290

Paynesville Unit: Median price $275,000, Annual capital growth 5.90%, Number of sales 17, Weekly median advertised rent $238

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

Source: CoreLogic

  • House Report
  • Unit Report

If you compare the increase in value of investment property in Paynesville, 3880 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 3.00%.

If we look at median property appreciation over just the last three months, Paynesville has given property investors a paper return of 0.00%. This puts Suburb as 502 on a list of fastest fasting appreciating suburbs in VIC

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Paynesville, 3880. Typically our figures indicate that -6.87% is being offered, which puts this VIC suburb at 1321th most discounted overall in Australia.

Using the current median advertised rental of $290 and the average annual increase in value of a median property of 2.42%, investors should hope to achieve an overall return of 4.88%

Over the last year, property investments in Paynesville, 3880 have given investors a capital gain of 41.03%. This compares very favourably with the 3.11% for VIC as a whole.

Comparing Paynesville,3880 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Our latest figures would indicate that property sellers in Paynesville are currently offering property investors an average price cut of -7.02% below the asking price at the moment.

Residents and property investors in Paynesville have been waiting around 106.5 days to sell a property.

Situated 243.05km from the CBD, Paynesville is one of East Gippsland localities in the postcode 3880.

HOUSE UNIT
$309,000 $275,000
0.00% 4.56%
3.00% 41.03%
2.42% 5.90%
$290 $238
114 17
4.88% 4.49%
121.35 106.5

Source: CoreLogic

DSR Score for property investment : Above average (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