I doubt it but it's possible. In addition to what kope said about the primary eBay shipping address, also check what your primary shipping address is with PayPal. It's listed in Profile > Add or Edit Shipping Address. My correct shipping address is listed as Home (first on the list and is connected to my payment method.)   If your old addresses are listed there, you might want to just delete them and have one single address listed in both eBay and PayPal.

Sorry Soulyearns, but quite a few times I have had the original "your item sold" email have a totally different address to that showing once the buyer has gone through checkout, and have had to contact the buyer for clarification - I can only assume it has defaulted to an old / original address.

To cover myself, I ALWAYS check the address against that on the paypal payment, or the one given when they go through checkout and select bank deposit.

To my knowledge, you can have quite a number of addresses linked to paypal ( I personally have about 5 - all family members who don't have / don't want a paypal account).  You have to manually select a different address to your primary one when you make a payment!