Over the last year, property investments in Paddington, 4064 have given investors a capital gain of 5.26%. This compares favourably with the 2.51% for QLD as a whole.
A 32.80% growth in median value for property investors in Paddington,4064 puts this suburb at number 485th in terms of best performing suburbs in QLD
Vendor discounting in Paddington is giving property investors an average Vendor Discount of around -10.21%. This puts suburb at number 122th in QLD when ranking the most discounted suburbs.
Advertised rents are around the $570 mark per week – giving a return of 2.96% based on the median price in Suburb
Paddington is in the bottom 40% in QLD when comparing median price capital growth over the last year. Paddington gave property investors a disappointing capital gain figure when compared to the rest of the state, with -2.07%.
Over the longer term, Paddington has seen property prices show investors a 7.41% return over the last 3 years. This is worse than over the last 12 months
State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.05% offered to property buyers. Sellers in Paddington itself are offering an average vendor discount of -5.72% to real estate investors.
Renters in Suburb are facing rents around $4920 per annum or $410 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
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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