Paddington’s Housing Market Looks Promising in 2019

Paddington is gearing up for an even better housing market in 2019 as strong market demands continue to increase property prices in the suburb.

A recent REIQ report on the latest housing market statistics showed Paddington’s median house price to be amongst the highest in Brisbane at $1,150,000. This shows 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.

According to property experts, Paddington continues to attract both younger and older buyers due to its affordability as well as its proximity to the city.

Moreover, the suburb also saw a surge of overseas buyers looking for properties with the best rates.

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Apart from the affordability of homes, experts have also cited three main factors that lead to better price growth. These are the availability of good retailing, good schools, and good public transport.

Currently, Paddington’s high demand market gets 1,223 property visits per month. This is relatively higher than the average demand in Queensland which is 385 visits per property.

These figures show that the suburb will indeed have a promising market property in the next year.

Aside from Paddington, other Brisbane suburbs to watch out for are Chandler, Indooroopilly, Graceville, and Kippa-Ring.