QLD has seen average median house prices change by 2.11% which means that Paddington, 4064 has done well for property investors by showing a capital gain of 10.33% over the last year
While Paddington,4064 ranked number 208th in QLD for increase in median house value (annualised) increase, it is ranked 126th over the last 5 years.
Sellers are offering property buyers an average discount of -9.14% to buyers in Paddington at the moment, which is less than average for the rest of QLD.
Paddington, 4064’s gross rental yield is 2.98%
QLD has seen average median house prices change by 1.12% which means that Paddington, 4064 has done well for property investors by showing a capital gain of 0.47% over the last year
A 19.78% growth in median value for property investors in Paddington,4064 puts this suburb at number 136th in terms of best performing suburbs in QLD
Vendor discounting in Paddington is giving property investors an average Vendor Discount of around -6.15%. This puts suburb at number 113th in QLD when ranking the most discounted suburbs.
Advertised rents are around the $400 mark per week – giving a return of 3.87% 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