Paynesville is a smaller suburb in Victoria within the East Gippsland local government area (postcode 3880). With a population of 3,636, the suburb has an older demographic with a median age of 62. Households earn a median income of $51K per year, with an average household size of 2 people. The most common occupations are professionals, community & personal service, technicians & trades. The top ancestries reported are English, Australian, Scottish.
The median house price in Paynesville is $503,000, having dipped slightly 2.4% over the past year. Units have a median price of $435,000 (+9.2% YoY). The current median weekly rent is $400. This gives a gross rental yield of approximately 4.1%. The median monthly mortgage repayment is $1,225.
Paynesville is served by 1 school, including 1 primary. The average ICSEA score is 934, which is below the national average of 1,000. Public transport access includes 2 ferry wharfves, 1 bus stop. The crime rate in the East Gippsland LGA is higher than average at 13,055 incidents per 100,000 population.
From an investment perspective, Paynesville offers a gross rental yield of 4.1%, rated as moderate yield. Property prices sit below the state median ($503K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 9.8x is considered moderate. House prices have moved -2.4% year-on-year.
Paynesville is a smaller suburb in Victoria within the East Gippsland local government area (postcode 3880). With a population of 3,636, the suburb has an older demographic with a median age of 62. Households earn a median income of $51K per year, with an average household size of 2 people. The most common occupations are professionals, community & personal service, technicians & trades. The top ancestries reported are English, Australian, Scottish.
The median house price in Paynesville is $503,000, having dipped slightly 2.4% over the past year. Units have a median price of $435,000 (+9.2% YoY). The current median weekly rent is $400. This gives a gross rental yield of approximately 4.1%. The median monthly mortgage repayment is $1,225.
Paynesville is served by 1 school, including 1 primary. The average ICSEA score is 934, which is below the national average of 1,000. Public transport access includes 2 ferry wharfves, 1 bus stop. The crime rate in the East Gippsland LGA is higher than average at 13,055 incidents per 100,000 population.
From an investment perspective, Paynesville offers a gross rental yield of 4.1%, rated as moderate yield. Property prices sit below the state median ($503K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 9.8x is considered moderate. House prices have moved -2.4% year-on-year.