Paynesville is in the bottom 30% in VIC when comparing median price capital growth over the last year. Paynesville gave property investors a disappointing capital gain figure when compared to the rest of the state, with 2.42%.
Over the longer term, Paynesville has seen property prices show investors a 3.90% return over the last 3 years. This is worse than over the last 12 months
Vendor discounting in Paynesville is giving property investors an average Vendor Discount of around -6.91%. This puts suburb at number 165th in VIC when ranking the most discounted suburbs.
With the median price for a house in Paynesville being $306500 and the advertised rent reaching $290 the gross rental yield for property investors calculates out to be 4.92%
Over the last year, property investments in Paynesville, 3880 have given investors a capital gain of 18.03%. This compares very favourably with the 2.98% for VIC as a whole.
Our latest figures would indicate that property sellers in Paynesville are currently offering property investors an average price cut of -7.79% below the asking price at the moment.
Situated 243.06km from the CBD, Paynesville is one of East Gippsland localities in the postcode 3880.