145 King Street, Paynesville VIC 3880
145 King Street, Paynesville VIC 3880
Newer estate lot | Standard residential zone | Family-oriented pocket | Land-value driven | School proximity
This property sits within a newer residential release where the market is clearly defined by land rather than the house on it. The surrounding estate character is consistent, with lots in the 530–700 m² range, and the immediate street pattern points to a quiet, family-focused environment within easy reach of the primary school and early learning services. For a buyer, the competitive edge here is the land itself—a clean, flat, standard residential block in a subdivision that is still maturing, which means the house you build can be tailored to current needs without inheriting someone else’s compromises. It serves best a buyer who wants a straightforward build site in a proven, low-drama residential pocket, not a waterfront statement or a character home.
What may materially shape value is the consistency of the surrounding product. Because the estate is still in its final release phase, nearby sales and listings are mostly vacant land, which means the property’s worth is heavily tied to lot size and position rather than any existing structure. If the house is already built, its age and finishes will matter far more than they would in an established suburb, simply because the comparables are land-heavy. The bushfire overlay on some nearby parcels might affect insurance or building costs, and the secondary school commute to Bairnsdale is a real consideration for families. These factors may narrow the buyer pool slightly, but they do not undermine the fundamental appeal of a serviced, zoned, and accessible residential lot.
Detailed Independent Property Report prepared by PropCred Analyst team for 145 King Street, Paynesville VIC 3880
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
Income Risk
Execution Risk
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Market Insight
Paynesville, a coastal eastern Victorian suburb on the Gippsland Lakes, is drawing mid-range family buyers seeking waterfront or near-water homes, with boating infrastructure a clear anchor. House prices sit around $527,500, up 7.65% annually, though other data show flatter or negative readings, and quarterly movement of +4.5% signals volatility. Units lag: median $385,000, down 6.1%, and take about 93 days to sell, pointing to oversupply. Houses move faster, 66–99 days depending on size, with 122 sales in the past year. Rental demand supports investors: house rents average $500 a week, units $400, with gross yields of 4.5% and 5.5% respectively. Prices remain below the state median, but underperform the regional average, and the unit market’s weakness warrants attention given rate sensitivity.
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PropCred Estimated Value
Comparable Sales: 140 King Street sold May 2025 for $195,000; 150 King Street sold Nov 2025 for $150,000 | Property Price Band: $150,000–$250,000 | Value Drivers: land size, corner positioning, estate final release status
Bedrooms
4
Bathroom
2
Parking
2
Land
679m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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