Paddington, 4064 ranked 77th in QLD when comparing growth in median property values or capital gain over the last 12 months. Paddington is one of 2415 in our list for QLD
If we look at median property appreciation over just the last three months, Paddington has given property investors a paper return of 8.49%. This puts Suburb as 45 on a list of fastest fasting appreciating suburbs in QLD
Our latest figures would indicate that property sellers in Paddington are currently offering property investors an average price cut of -6.46% below the asking price at the moment.
In the last year 148 properties changed hands in Paddington, which puts it as the 105th most active market in QLD when comparing the number of sales per suburb.
At number 1161th in the list of Australian suburbs ordered by increase in median house value over the last year, Paddington, 4064 is in the BOTTOM 40% with a property value increase of -0.56% recorded in median house prices.
Comparing Paddington,4064 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Vendor discounting in Paddington is giving property investors an average Vendor Discount of around -7.09%. This puts suburb at number 62th in QLD when ranking the most discounted suburbs.
At number 1186 in a list of fastest selling suburbs, Paddington is in the bottom 20% of suburbs in Australia with an average of days on market 98.92 for properties listed there.
Renters in Suburb are facing rents around $4800 per annum or $400 every week.
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