Suburb Profile Report for Paynesville VIC (3880)

Paynesville House: Median price $350,000, Annual capital growth 2.34%, Number of sales 105, Weekly median advertised rent $350

Paynesville Unit: Median price $275,000, Annual capital growth 1.58%, Number of sales 29, Weekly median advertised rent $260

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

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

With a capital gain of 1.16% for the last 12 months, Paynesville, 3880 has performed for property investments than its average annual 2.34% property growth over the last 5 years.

Over the longer term, Paynesville has seen property prices show investors a 12.90% 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 -6.43%. This puts suburb at number 231th in VIC when ranking the most discounted suburbs.

Property investors should expect to get $350 weekly from the median priced house in this suburb.

Over the last year, property investments in Paynesville, 3880 have given investors a capital gain of 4.76%. This compares averagely with the 7.35% for VIC as a whole.

Over the longer term, Paynesville has seen property prices show investors a 0.00% return over the last 3 years. This is an improvement over the last 12 months

Property investors looking for a bargain in Paynesville should be aiming for at least -4.00% off the asking price, which is the average vendor discount being achieved at the moment.

In the last year 29 properties changed hands in Paynesville, which puts it as the 249th most active market in VIC when comparing the number of sales per suburb.

Property investors should expect to get $260 weekly from the median priced house in this suburb.

Metrics i HOUSE UNIT
$350,000 $275,000
5.26% -2.83%
1.16% 4.76%
2.34% 1.58%
$350 $260
105 29
5.20% 4.92%
103.185185185185 92.3333333333333

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

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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