Paddington, 4064 ranked 115th in QLD when comparing growth in median property values or capital gain over the last 12 months. Paddington is one of 2415 in our list for QLD
Paddington,4064 has offered an average of 11.39% return per annum in house price rises to property investors over the last three years.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Paddington, 4064. Typically our figures indicate that -10.03% is being offered, which puts this QLD suburb at 346th most discounted overall in Australia.
Often selling an investment property can take time, and in Paddington the average time real estate has been on the market is 75.16 days.
Paddington is 734th on a list of best yielding suburbs for rents in QLD with a 2.96% return
If you compare the increase in value of investment property in Paddington, 4064 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this QLD suburb was 0.93%.
If we look at median property appreciation over just the last three months, Paddington has given property investors a paper return of -0.23%. This puts Suburb as 187 on a list of fastest fasting appreciating suburbs in QLD
Vendor discounting in Paddington is giving property investors an average Vendor Discount of around -6.00%. This puts suburb at number 138th in QLD when ranking the most discounted suburbs.
Advertised rents are around the $400 mark per week – giving a return of 3.85% based on the median price in 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