Suburb Profile Report for Paynesville VIC (3880)

Paynesville House: Median price $339,500, Annual capital growth 2.06%, Number of sales 114, Weekly median advertised rent $320

Paynesville Unit: Median price $266,000, Annual capital growth 3.53%, Number of sales 29, Weekly median advertised rent $240

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

Source: CoreLogic

  • House Report
  • Unit Report

Paynesville is in the bottom 40% 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 7.78%.

When looking at the potential capital gains offered to property investors over the last 3 years, Paynesville comes in at number 558th in VIC.

Paynesville, 3880 is offering VIC ‘s 353th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this VIC.

At number 2506 in a list of fastest selling suburbs, Paynesville is in the bottom 40% of suburbs in Australia with an average of days on market 85.98 for properties listed there.

Investment property in Paynesville has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -3.27%

Taking the average capital gain, or increase in median house value, Paynesville,3880 has racked up an average of -3.27% over the period. This ranks it number 984th in the whole country for real estate investors looking at median house price increases.

With the median price for a house in Paynesville being $266000 and the advertised rent reaching $240 the gross rental yield for property investors calculates out to be 4.69%

Metrics i HOUSE UNIT
$339,500 $266,000
-0.59% -1.66%
7.78% -3.27%
2.06% 3.53%
$320 $240
114 29
4.90% 4.69%
85.98 N/A

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