Paynesville, located in East Gippsland, Victoria, is renowned for its scenic beauty and relaxed coastal lifestyle, qualities that are clearly reflected in its housing market. The area is often referred to as the boating capital of Victoria due to its unique position nestled on the shores of the Gippsland Lakes. This prime location has made Paynesville increasingly attractive to homebuyers, particularly those seeking either a serene getaway or a permanent residence that balances natural beauty with convenience. The housing market here comprises a mix of charming cottages, modern family homes, and luxurious waterfront properties, often featuring private jetties. Over recent years, there has been a steady demand for properties in Paynesville, fueled by the shift towards more remote work-friendly environments and an appetite for lifestyle-oriented living. As a result, property values have seen modest appreciation, though the market remains accessible compared to more metropolitan areas.
Living in Paynesville offers a picturesque and tranquil lifestyle, with a community-oriented atmosphere and a slower pace that appeals to retirees, families, and professionals alike. The town provides ample opportunities for water-based activities such as boating, fishing, and kayaking, making it a haven for outdoor enthusiasts. Beyond its natural allure, Paynesville also offers convenient amenities, including schools, healthcare facilities, cafés, and local shops. The town's social fabric is enriched by various community events and activities, which foster a sense of belonging among residents. Additionally, its proximity to larger towns like Bairnsdale ensures that more expansive shopping and services are easily accessible. Overall, living in Paynesville combines the best of peaceful, waterside living with a welcoming community spirit, making it a highly desirable location for those looking to enjoy both natural beauty and a comfortable lifestyle.
| Median Weekly Rent | $318.71 |
| Median Monthly Mortgage | $1214.00 |
| Median Persons Per bed houseroom | 0.64 |
| Average Household Size | 2.00 |
| Average Age | 62.29 |
| Average Income | $561.86 |
| Average Cars Per Dwelling | 1.86 |
| Average Properties Within 50M | 12 |
| Typical 1 bed house | $383,000 |
| Typical 2 bed house | $430,000 |
| Typical 3 bed house | $641,000 |
| Typical 4 bed house | $787,000 |
| Typical 5 bed house | $832,000 |
| Typical 6 bed+ house | $762,000 |
Housing Stock
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Thinking about buying in Paynesville? Now could not be a better time, with 3472 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $603,000 with prices in this suburb ranging from $124,000 to $3,988,000. Paynesville is located fairly close to the coast at just 6Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.
In Paynesville there has been a history of lower than average prices and demand, offering opportunities for investors or first home owners, especially in the context of the growth in working from home. In this area of average incomes, there is a mix of housing size and quality. While this may present buying opportunities, growth may be constrained. As buyers begin to examine Paynesville due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. Low average earnings from people in Paynesville leads to lower quality housing which also negatively impacts the provision of facilities. As a consequence this area is often seen as less desirable, with lower quality of housing and slower price growth. Low population density implies low demand and limits housing choices and price increases. Could be a good entry point for first home buyers needing to somehow get into the market. Higher than average industry presence in the wider area offering local employment yet with not a large negative impact on local amenity, provides good demand and price growth.
Instant Property ValuationPaynesville Primary School
Eagle Point Primary School
(While the above schools are located with the suburb of Paynesville there may also be nearby schools whose catchments cover this suburb)Incidents Trend State Average
| (mm) RAIN | Min (°C) TEMP | Max (°C) TEMP | Min (%) HUMIDITY | Max (%) HUMIDITY | (m/sec) WIND | (MJ/sq m) SOLAR | |
|---|---|---|---|---|---|---|---|
| Jan | 0.8 | 24.2 | 38.6 | 18.3 | 50.1 | 5.5 | 28.4 |
| Feb | 1.9 | 23.2 | 36.6 | 23.3 | 59.0 | 5.1 | 24.8 |
| Mar | 1.2 | 21.2 | 34.1 | 23.6 | 57.6 | 4.7 | 21.1 |
| Apr | 0.3 | 16.9 | 29.7 | 25.2 | 62.2 | 4.1 | 18.0 |
| May | 0.4 | 11.1 | 24.0 | 28.8 | 69.9 | 3.9 | 14.6 |
| Jun | 1.2 | 8.6 | 19.4 | 41.3 | 85.6 | 3.8 | 12.3 |
| Jul | 0.8 | 7.4 | 19.1 | 39.4 | 86.2 | 3.9 | 13.2 |
| Aug | 0.4 | 8.8 | 22.0 | 29.7 | 77.8 | 4.2 | 16.2 |
| Sept | 0.4 | 10.6 | 25.1 | 23.0 | 69.4 | 4.6 | 21.5 |
| Oct | 0.3 | 15.4 | 30.6 | 17.4 | 57.0 | 4.9 | 25.7 |
| Nov | 0.4 | 18.6 | 33.5 | 17.1 | 54.8 | 5.4 | 28.7 |
| Dec | 0.7 | 21.6 | 36.5 | 15.9 | 48.9 | 5.3 | 30.0 |
source: Australian Government Bureau of Meteorology
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