Are you looking to purchase a home or investment property in Paddington, Brisbane? As a Paddington Buyers Agent we’d be happy to help and have compiled the following suburb profile for your information. Best wishes with your Paddington property purchase!
The population of Paddington in 2011 was around 8,000 and it continues to grow. Just over half (52%) of the households in Paddington are owner occupied. Household in Paddington consistent predominantly of professional couples with children.
Paddington’s main shopping and cafe precincts are located around Latrobe and Given Terraces, and also around Nash street in Rosalie Village.
Several convenient bus services connect Paddington with the Brisbane CBD via Latrobe Terrace, and also via Enoggera Terrace to Musgrave Road.
Most residents commute to the Brisbane CBD for work.
Streets closest to the Latrobe Terrance cafe precinct are amongst the most desirable areas in Paddington. Several streets enjoy amazing city views (and command massive sale prices to match!).
Traffic noise can be an issue for properties close to major thoroughfares including Jubilee Terrace, Latrobe Terrace, and Given Terrace. Buyers should check the Brisbane City Council Flood Maps, as some areas (especially around Rosalie Village) are susceptible to river flooding which resulted in significant damage to properties in the 2011 flood event.
The vast majority (66%) of properties in Paddington are free standing houses.
The suburb is particularly well known for its Colonial and Queenslander style houses and smaller workers cottages. These timber character homes were built in the early 1900s, and are characterised by wrap-around bull-nosed verandas, wide central hallways, VJ walls; ornate timber fretwork and pressed metal ceilings. A typical block size for this type of home is 400-600m2.
The median house price in Paddington is $1,845,000 which is well above Brisbane’s median.
The median house price in Paddington would typically buy a 3-bedroom, 2-bathroom house on a 450m2 block. For example: 26 Charlotte Street Paddington, sold for $1,850,000 in Dec 2022 (see photos below).
The median unit price in Paddington is: $620,500.
This amount would typically buy a 2-bedroom, 2-bathroom, 2-garage unit in an brick style complex. For example: 6/215 Baroona Road Paddington, sold for $650,000 on October 2022 (see photos below)
In the last 5 years the median house price has increased by a huge 84.8%. Over the last 10 years, house prices have increased by 9.6% per annum.
Units in Paddington have seen more modest price growth. In the last 5 years the median price of units has increased by 18.1%. On average, over the last 10 years unit prices have increased by 3.3% per annum.
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