Paddington: Among the Most in-Demand Suburbs in Brisbane

most in-demand suburbs
Photo Credit: REA Group Ltd. / realestate.com.au

A recent property report indicates a surge in Brisbane property listing views coming from Indian-born and NSW investors, as Paddington emerged as one of the most in-demand suburbs.

The Australian Property Market July 2019 Report by realestate.com.au revealed that  Brisbane leads the national property market recovery even as its median price for all dwelling fell by 0.9 percent in the past 12 months. Brisbane, however, managed to rise by 0.1 percent quarter-on-quarter, making it the first capital city to see price growth in the June quarter.

The ten most in-demand suburbs for houses in Brisbane are Toowong, Windsor, Paddington, Greenslopes, New Farm, Wilston, Holland Park, Ashgrove, Camp Hill, and Newmarket.

The latest data from realestate.com.au shows the median house price in Paddington at $1,050,000, based on house sales from 1 July 2018 – 29 July 2019. In terms of demand, visits per property is also high with 1,010, as compared to the state average of 374.

Compared to Brisbane, over the same quarter, Sydney and Melbourne dwelling prices fell by 0.4 per cent and to date, the median prices already fell by 7.2 per cent and 5.8 per cent, respectively.

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Experts believe that the recovering mining sector and infrastructure spending coupled with continued interstate migration, notably from NSW, contributed to Brisbane’s property market recovery.

The price growth, however, came from mostly from the apartment market which rose 0.7 percent quarter-on-quarter for a median price of $387,000 whilst house prices dropped a little bit by 0.1 percent to $530,000.



Another noteworthy factor is the rising offshore buyers interest particularly with the number of property seekers from India, doubling over the past 12 months. Experts say that like in Sydney and Melbourne, Indian buyers may also start having a big influence on property sales in Brisbane. 

Looking at the dwelling market performance across Brisbane metro area, only the North region recorded a slight drop over the quarter with -.01 percent with median price of $535,000 and views per listing of 1,102. The West region ranks first with 1.3 percent price growth over the quarter for a median price of $642,000  with views per listing of 1,346. South, East, and Inner City follow with quarter-on-quarter percent change of 0.6, 0.5, and 0.4, respectively.