At number 2234th in the list of Australian suburbs ordered by increase in median house value over the last year, Paddington, 4064 is in the BOTTOM 50% with a property value increase of 4.71% recorded in median house prices.
Paddington,4064 has offered an average of 4.71% return per annum in house price rises to property investors over the last three years.
Paddington4064 is located in QLD which offers an average discount of -7.16% to property investors. Paddington itself is showing figures that indicate -9.85% is the average achievable by property buyers investing in the suburb.
Using the current median advertised rental of $565 and the average annual increase in value of a median property of 6.51%, investors should hope to achieve an overall return of 2.94%
At number 1379th in the list of Australian suburbs ordered by increase in median house value over the last year, Paddington, 4064 is in the BOTTOM 30% with a property value increase of -4.44% recorded in median house prices.
If we look at median property appreciation over just the last three months, Paddington has given property investors a paper return of -0.92%. This puts Suburb as 231 on a list of fastest fasting appreciating suburbs in QLD
LACK OF BUYER INTEREST may well be the reason that Paddington is offering property investors an average of -6.15. This rate of discount on properties puts Suburb at number 190th in terms of most discounted suburbs in QLD
Property investors should expect to get $410 weekly from the median priced house in this suburb.
Paddington’s relative value is certainly a selling point for Herron Todd White’s David Hyne. “Paddington represents good value considering the location and facilities in comparison to other suburbs of similar distance from the city,” he says.Full summary
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Paddington’s relative value is certainly a selling point for Herron Todd White’s David Hyne. “Paddington represents good value considering the location and facilities in comparison to other suburbs of similar distance from the city,” he says.
Certainly a median price comparison with some of Paddington’s neighbours bears out Hyne’s comments. Milton, Red Hill and Bardon all have a higher median unit price that Paddington according to RP Data figures.
Plus, at just 3km from the CBD, Paddington ticks all the right boxes in terms of accessibility and amenities.
“Paddington is accessible to a number of retail and restaurant hubs, including Latrobe-Given Terrace, Rosalie Village and The Barracks complex on Petrie Terrace,” explains Hyne.
He goes on to add that – after the tragic floods in January 2011 – it’s well worth doing your due diligence on flood prone properties.
Population growth in the Paddington SLA has been good, with the average annual rate over four years coming in at 1.5% according to ABS data. The area’s unemployment rate was 2.2% at last count and Census data reveals that the area’s weekly family income of $1,900 was well above the Queensland average of $1,123.
Paddington’s vacancy rate is extremely low and renters make up about half of the population base. SQM Research expects this figure to rise to 64% in the next five years.Close