Property value increases in Paddington have tracked close to the QLD average of 2.98% over the last 12 months.
Across a shorter period, Paddington, 4064 has seen a median price increase of 3.60% over the last quarter.
Paddington4064 is located in QLD which offers an average discount of -6.78% to property investors. Paddington itself is showing figures that indicate -7.05% is the average achievable by property buyers investing in the suburb.
With the median price for a house in Paddington being $1035000 and the advertised rent reaching $557.5 the gross rental yield for property investors calculates out to be 2.80%
Giving property investors a an unimpressive capital gain of -0.46% for the last year, Paddington, 4064 is the 1197th highest performer in Australia in this respect.
Across a shorter period, Paddington, 4064 has seen a median price increase of 2.61% over the last quarter.
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 -6.05% is being offered, which puts this QLD suburb at 429th most discounted overall in Australia.
Often selling an investment property can take time, and in Paddington the average time real estate has been on the market is 86.25 days.
Advertised rents are around the $410 mark per week – giving a return of 3.95% 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