Kalimna vs Paynesville
Property investment comparison - Kalimna, VIC 3909 vs Paynesville, VIC 3880
Head-to-head across core investment metrics: Kalimna wins 4, Paynesville wins 1. The better choice depends on whether you're optimising for cash flow, growth, affordability, or liquidity, the table below highlights the winner on each metric.
| Metric | Kalimna | Paynesville |
|---|---|---|
| Median house price | $560K | $560K |
| Median unit price | - | $430K |
| Gross rental yield (houses) | 4.56% | 4.58% |
| Gross rental yield (units) | 5.30% | 4.95% |
| 1-year house growth | +4.9% | +4.0% |
| 3-year house growth | +20.5% | +5.3% |
| Vacancy rate | 1.5% | 2.3% |
| Population | 1,350 | 3,636 |
Kalimna vs Paynesville: what the numbers say
Houses cost about the same in both suburbs: the median house price is $560K in Kalimna and $560K in Paynesville.
Gross rental yield on houses is effectively level, at 4.56% in Kalimna and 4.58% in Paynesville, so neither suburb has a cash flow edge on houses.
Over the past year house prices moved +4.9% in Kalimna and +4.0% in Paynesville, so recent momentum favours Kalimna, although both suburbs recorded growth.
Looking back three years, Kalimna houses are +20.5% and Paynesville houses +5.3%, so Kalimna has compounded faster than Paynesville over the longer window.
Rental vacancy is 1.5% in Kalimna and 2.3% in Paynesville, so landlords in Kalimna face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Paynesville is the bigger suburb, with a population of 3,636 against 1,350, roughly 2.7 times the size of Kalimna; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Kalimna for recent price momentum, Kalimna for the tighter rental market. Which matters more depends on whether the investor is buying for cash flow, capital growth or affordability.
Keep exploring
- National investment guide - top suburbs across every metric
- Take the suburb finder quiz - 5 questions to match your goals
- How our investment score works
- Property investment glossary - every term defined
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