Paddington 4064 Property Market

Paddington Qld Property Market

Located just two kilometres west of Brisbane CBD, sits the quaint and unique suburb of Paddington. Spread out between various steep hills and ridges, Paddington was settled in the 1860s and is one of the oldest suburbs in Brisbane.

With such a unique location that boasts the best of both worlds, locals enjoy this area’s unique suburban lifestyle and take advantage of the nearby city’s high-end luxuries when the mood strikes.

With greenery framing its striking heritage buildings, as well as family home, lively cafés and many Indie boutiques and fashion shops, Paddington is the perfect suburb to settle down in.

Lifestyle

While this suburb is known for bordering the city’s doorsteps, Paddington is also adjacent to other beautiful suburbs like Bardon and Red Hill. However, unlike the towns next to Paddington, this suburb has developed a reputation for being the coffee, shopping and food hub of the western suburbs.

The suburb itself radiates traditional Queensland charm. In fact, Paddington is lined with restored weatherboard houses and workmen’s cottages that either serve as homes or have been transformed into shops, eateries or boutique retail stores.

Latrobe and Given Terraces are some of the locals’ favourite hangouts, seeing as these main streets are packed with cafés, dazzling antique stores and galleries.

If you like to delight in some of the finest eateries around, then Paddington certainly won’t disappoint. With some of the most exquisite cafés and restaurants on the west side, this suburb has mastered the art of blending local cuisine with global influences. As such, Paddington boasts a French bistro, Montrachet and a Middle Eastern-inspired café, Naim, both of which see plenty of visitors on a daily basis.

With an extensive range of activities to partake in, Paddington truly has something in store for everyone, no matter your interests.

Geolocation factors

This suburb consists of mainly residential lots, built on small blocks of land (in terms of Queensland standards). It features lots of workers’ cottages and homes fitted with corrugated iron roofs. Paddington also includes the small neighbourhood of Rosalie, which has its centre at the junction of Baroona Road and Nash Street.

Travelling in and out of the suburb is quite easy seeing as there is only a 13 km distance between Paddington and Brisbane Airport (BNE).

If starting a family is a priority at the moment, you’ll be pleased to know that Paddington is also family home to several private and public schools. Government schools include Petrie Terrace State School, Milton State School and Queensland Academy for Creative Industries. Private schools include Albert Park Flexible Learning Centre and Brisbane Grammar School.

Paddington Property Statistics

The following data (taken from Property Value) gives an overview of the median sale price for Paddington properties.

Houses

Median sale price in the area: $1.1m

Median price change (1yr): -6.34%

Median rent: $630pw

Median gross yield: 3%

Units

Median sale price in the area: $498k

Median price change (1yr): 7.04%

Median rent: $410pw

Median gross yield: 4.3%

Demographics of the area

 As of 2016, Paddington has a population of 8,567 people.  In 2011, the population of Paddington totalled 7,986 people, which indicates a population growth of 7.1%.

In 2011, 51.4% of the Paddington properties were owner-occupied, which increased slightly to 52.4% in 2016.  38.86% of the Paddington population lives in rental accommodation.

Households in Paddington primarily consist of couples with children and childless couples. These households are likely to be spending over $4000 per month on mortgage repayments.

The predominant age group in Paddington is 20-29 years. Most people in Paddington work in a professional occupation.

Buyers Advocate Paddington

If you like the idea of being close to the city, but still prefer the serenity that only suburban living can provide, then Paddington might be your dream destination. Savvy Fox can help you to close the deal on your dream property in this unique, culture-rich suburb, without you having to jump through any hoops.

Paddington real estate or Brisbane property is in high demand, and as such, you need an experienced Paddington buyers agent to secure a great deal on a once in a lifetime kind of property. Don’t delay! Contact Savvy Fox to secure your future home.

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