Paddington is an average performer in QLD when comparing median price capital growth over the last year. Paddington gave property investors a average capital gain figure when compared to the rest of the state, with 4.28%.
Paddington,4064 has offered an average of 4.28% return per annum in house price rises to property investors over the last three years.
LACK OF BUYER INTEREST may well be the reason that Paddington is offering property investors an average of -6.86. This rate of discount on properties puts Suburb at number 385th in terms of most discounted suburbs in QLD
Paddington, 4064’s gross rental yield is 2.89%
Investment property in Paddington has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -3.00%
If we look at median property appreciation over just the last three months, Paddington has given property investors a paper return of -1.64%. This puts Suburb as 255 on a list of fastest fasting appreciating suburbs in QLD
State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.98% offered to property buyers. Sellers in Paddington itself are offering an average vendor discount of -6.31% to real estate investors.
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