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.