Paddington, 4064 ranked 54th 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
The five-year average increase in median property values for Paddington,4064 has given property investors a potential capital gain of 53.85% across each of those five years.
Vendor discounting in Paddington is giving property investors an average Vendor Discount of around -6.40%. This puts suburb at number 348th in QLD when ranking the most discounted suburbs.
Residents and property investors in Paddington have been waiting around 70.54 days to sell a property.
Paddington is 739th on a list of best yielding suburbs for rents in QLD with a 2.69% return
Paddington has had a quite poor year for property investment returns compared to the rest of QLD, giving investors a capital gain of -5.94% to date .
A -4.29% growth in median value for property investors in Paddington,4064 puts this suburb at number 242th in terms of best performing suburbs in QLD
LACK OF BUYER INTEREST may well be the reason that Paddington is offering property investors an average of -5.94. This rate of discount on properties puts Suburb at number 35th in terms of most discounted suburbs in QLD
Often selling an investment property can take time, and in Paddington the average time real estate has been on the market is 103.82 days.
Using the current median advertised rental of $400 and the average annual increase in value of a median property of 1.62%, investors should hope to achieve an overall return of 4.10%
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
Information supplied by:
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