The REIQ recently reported the latest housing market statistics which showed Paddington median house price to be among the highest in Brisbane at $1,150,000, a 14.7% increase over the last 12 months and 49.5% over the last 5 years. In the 2nd quarter of 2018, there were 32 homes sold in the suburb.
“We have experienced high demand for houses around or under $1M, with properties being snapped up in a matter of days with multiple offers and often those offers being unconditional,” says Daniel Argent of Urban.
“We have seen in excess of 70 buyers coming through open homes at the price point. Buyers are looking to enter into the Paddington market and with entry into Paddington now starting at around the $900,000, buyers are looking for properties they can renovate and/or add value to. My average days for Paddington is 14 days in comparison to 29 last year.”
