Paddington is in the TOP 20% in QLD when comparing median price capital growth over the last year. Paddington gave property investors a very good capital gain figure when compared to the rest of the state, with 8.68%.
Across a shorter period, Paddington, 4064 has seen a median price increase of 0.99% over the last quarter.
Paddington, 4064 is offering QLD ‘s 198th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 30% of discounts offered by this QLD.
Advertised rents are around the $575 mark per week – giving a return of 3.10% based on the median price in Suburb
Giving property investors a an unimpressive capital gain of -1.04% for the last year, Paddington, 4064 is the 1166th highest performer in Australia in this respect.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Paddington has increased when compared to the 5 year average annual rate.
Paddington, 4064 is offering QLD ‘s 108th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this QLD.
Residents and property investors in Paddington have been waiting around 68.06 days to sell a property.
Renters in Suburb are facing rents around $4860 per annum or $405 every week.
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
Information supplied by:
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