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Paddington suburb profile

Paddington is an inner-west Brisbane suburb set on hilly, tree-lined streets, known for its classic timber Queenslanders and sweeping city views. Its two main shopping strips, Given Terrace and Latrobe Terrace, are home to cafes, antique and boutique stores and a mix of small galleries and eateries that give the suburb a relaxed, village feel. Residents tend to be a mix of young professionals, creatives and families attracted to period character and renovation potential, alongside pockets of more recent townhouse development. Green corridors and local parks break up the streetscape and buses provide regular links into the city, making Paddington a lively but distinctly residential suburb.

Paddington property market performance

Current median dwelling price$1,456,250Past 3 months

Property growth+11.2%Past 12 months

House values rose a solid 7.1% over the last 12 months, taking the median house price to $1,975,000. Unit values rose sharply, up 15.3% over the last 12 months to a median of $937,500, so units increased faster than houses.

Over the last 3 months there were 34 house sales and 10 unit sales. Median days on market over the last 12 months were 31 days for houses and 14 days for units, so units sold more quickly than houses.

The rental market in Paddington saw house rents average $923 a week, up a solid 8.6% over the last 12 months, while unit rents averaged $618 a week, up 10.4% over the last 12 months. The two rose at a similar pace.

HousesUnits
Median price
Past 3 months
$1.98M$938K
Change in value
Past 12 months
7.1%15.3%
Sold
Past 3 months
3410
Median days on market
Past 12 months
3114
Average rent
Past 12 months
$923$618
Change in rent
Past 12 months
8.6%10.4%

5 year median price trend for houses and units

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Paddington demographics

Paddington is home to 9,063 people, with a median age of 34. The typical household earns $2,775 a week, roughly $144,300 a year.

Families are dominated by couples: couple families with children account for 44.3% of families and couple families without children 41.8%, together making up 86.1% of families, or more than eight in ten. One-parent families represent 11.3% and other families 2.5%.

Homes in Paddington are more often owner-occupied than rented: 56.5% are owner-occupied (31.0% with a mortgage and 25.5% owned outright), while 43.5% are rented.

Suburbs near Paddington

Some popular suburbs near Paddington include:

  • Red Hill: Leafy, established suburb known for hilltop streets and city outlooks.
  • Petrie Terrace: Compact inner-city pocket with a mix of historic and renovated housing.
  • Milton: Suburb with river parklands and a mix of older and contemporary housing.
  • Kelvin Grove: Urban village suburb with a community atmosphere and mixed-use precincts.
  • Auchenflower: Riverside suburb with mature trees and riverfront green spaces.

How does Paddington compare to nearby suburbs?

  • Median house prices: Paddington’s median house price is 5.6% higher than Red Hill’s.
  • Median unit prices: Paddington’s median unit price is 5.0% higher than Kelvin Grove’s.
  • House price growth: Over the past 12 months, house prices in Paddington have grown 10.0% higher than in Red Hill.
  • Unit price growth: Over the past 12 months, unit prices in Paddington have grown 5.0% higher than in Red Hill.
  • Selling speed for houses: Properties in nearby Red Hill are selling 45.2% faster than in Paddington.
  • Selling speed for units: Properties in Paddington are selling 17.6% faster than in Milton.
  • Investment considerations: In Paddington, the rental yield for house is 29.5% higher than the Brisbane average, while the rental yield for units is 5.8% lower.
  • House price growth: Over the past 12 months, house prices in Paddington have grown 74.5% higher than the average rate of growth across Brisbane.
  • Unit price growth:Over the past 12 months, unit prices in Paddington have grown 10.9% higher than the average rate of growth for units across Brisbane.

Choose the right real estate agents in Paddington

Choosing the right real estate agent in Paddington can have a big impact on your sale. While there are 70 real estate agents working in the suburb, but just 5 of them were responsible for 31.6% of all property sales over the past year, showing a strong footprint and track record in the area.

Commission rates typically range from 2.38% to 3%, depending on the agent and what’s included. Comparing both performance and fee structures can help you find someone who's well-suited to your needs, and set them up for a successful result.

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