Suburb Profile Report for Paddington QLD (4064)

Paddington House: Median price $1,150,000, Annual capital growth 5.87%, Number of sales 146, Weekly median advertised rent $650

Paddington Unit: Median price $490,000, Annual capital growth 1.76%, Number of sales 63, Weekly median advertised rent $400

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

Investment property in Paddington has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 0.00%

Taking the average capital gain, or increase in median house value, Paddington,4064 has racked up an average of 0.00% over the period. This ranks it number 1051th in the whole country for real estate investors looking at median house price increases.

At number 269th of QLD’s most discounted properties, Paddington is in the bottom 40% of the state/territory when listing in order of most discounted to least.

The QLD suburb of Paddington, 4064 is in the Brisbane (C) local government area.

Giving property investors a an average capital gain of -2.49% for the last year, Paddington, 4064 is the 782th highest performer in Australia in this respect.

Over the longer term, Paddington has seen property prices show investors a -12.89% return over the last 3 years. This is an improvement over the last 12 months

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 -7.15% is being offered, which puts this QLD suburb at 385th most discounted overall in Australia.

Paddington, 4064’s gross rental yield is 4.24%

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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.

Metrics i HOUSE UNIT
$1,150,000 $490,000
4.07% -3.63%
0.00% -2.49%
5.87% 1.76%
$650 $400
146 63
2.94% 4.24%
63.6195652173913 57.2162162162162

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Above average (U)
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Demographics
Total population 7986
Median household income ($/weekly) 2074
Median age of persons 32
Median housing loan repayment ($/monthly) 2557
Average household size 2.4
  • Census Count Percent(%)
    20-24 years 940 11.8
    25-34 years 2038 25.5
    35-44 years 1312 16.4
    45-54 years 880 11.0
    55-64 years 729 9.1
    Others 2088 26.1
    Age Group
    Census Count Percent(%)
    Not Married 3097 50.6
    Registered Married 2178 35.6
    Defacto Relationship 843 13.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 5877 77.5
    Italy 87 1.1
    Papua New Guinea 284 3.7
    United Kingdom 431 5.7
    Other 258 3.4
    Others 648 8.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 128 1.8
    Christianity 4215 58.7
    Hinduism 51 0.7
    Other Religious Groups 47 0.7
    No Religion 2711 37.7
    Others 33 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 331 11.7
    $2,000-$2,499 284 10.0
    $2,500-$2,999 435 15.3
    $3,000-$3,499 265 9.3
    $4,000 or more 318 11.2
    Others 1207 42.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 3448 53.1
    Employed, worked part-time 1341 20.6
    Not in the labour force 1279 19.7
    Employed, away from work 238 3.7
    Unemployed, looking for work 192 3.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 755 15.0
    Professionals 2053 40.8
    Technicians & trades workers 425 8.5
    Community & personal service workers 420 8.4
    Clerical & administrative workers 713 14.2
    Others 663 13.2
    Occupation
    Census Count Percent(%)
    Pre-school 98 5.2
    Infants/Primary 450 24.0
    Secondary 240 12.8
    Technical or Further Educational Institution 138 7.4
    University or other Tertiary Institutions 891 47.5
    Others 58 3.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5471 74.0
    Flat, unit or apartment 1291 17.5
    Semi-detached, row or terrace house, townhouse 605 8.2
    House or flat attached to a shop, office 28 0.4
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1467 47.0
    Being purchased 926 29.7
    Fully owned 708 22.7
    Other tenure type 17 0.5
    Tenure Type
Census 2011, ABS
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