Get a property report and suburb profile for any property in Paddington

Paddington, NSW 2021, is an inner-city eastern Sydney suburb marked by rows of Victorian terrace houses, narrow laneways and a strong village feel centred on Oxford Street. It blends period architecture with small apartment conversions and rooftop terraces, and attracts professionals, creatives and families who value cafés, independent boutiques and art galleries. Community life bubbles around the Paddington Markets and a handful of small parks, while larger green space such as Centennial Park is nearby. Public transport runs along the main streets and the walkable grid makes it easy to move around, giving Paddington a historic yet metropolitan character.

The community numbers 12,701 people, with a median age of 38 and a median household income of $3,131 a week (about $162,800 a year). Homes are slightly more often owner-occupied than rented (54.1% owner-occupied, 45.9% renters) and couple families without children are the largest family group (50.1%), with couple families with children at 37.0%. Council and state projects are active in the town centre, from consultation on a proposed Oxford Street East cycleway to completed public-space upgrades such as Josephson Street and Spring Street Reserve, and a Paddington Town Hall renewal has reached procurement. Whether Paddington suits you will come down to whether you value its heritage streets, local shops and easy walkability.

Rents in Paddington take noticeably different shares of local incomes. A house renting for about $1,500 a week would be roughly 47.9% of a typical local household's weekly income at the last Census, a large share, while a unit at about $700 a week would be roughly 22.4% of that weekly income, a moderate share. If you plan to rent, those rent shares are the most relevant numbers.

Buying looks considerably more stretched against what people locally earned at the last Census. The median house price of $3,300,000 is about 20.3 times a typical local annual household income at the last Census, and the median unit price of $1,207,500 is about 7.4 times annual household income; both multiples sit well above local incomes, with house buying especially far above.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Unit rents in Paddington climbed 8.5% over the past 12 months, the clearest movement in the local numbers. Unit values were almost unchanged, up 0.1% (a marginal rise), while house values edged down 0.7% over the year.

If rental income is your priority, the unit rent rise is the most relevant figure; if you are focused on capital growth, the value changes this year have been slight at best and, for houses, slightly negative. Whether that balance fits your investment goals and circumstances is for you to decide.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.