Paddington, Brisbane, QLD

Paddington is one of Brisbane’s most iconic and desirable inner-city suburbs, located just 2 kilometers west of the Brisbane CBD. Known for its vibrant community, charming character homes, and eclectic mix of shops, cafes, and restaurants, Paddington offers a unique blend of urban convenience and village-like atmosphere. The suburb is bordered by Milton, Red Hill, and Petrie Terrace, making it a popular choice for those seeking a lively yet relaxed lifestyle close to the city.

Property Market Overview

Paddington’s property market is highly sought after, characterized by its historic Queenslanders, renovated cottages, and contemporary homes. The suburb attracts a diverse range of buyers, including young professionals, families, and investors, all drawn to its proximity to the CBD and vibrant local culture.

Median Property Prices

• Houses: As of mid-2024, the median house price in Paddington is approximately $1.9 million. The market has seen significant growth over the past decade, driven by strong demand and limited supply of character homes.

• Units and Townhouses: The median price for units and townhouses is around $650,000, offering a more accessible option for buyers looking to enter the Paddington market.

Rental Market

• Demand and Yields: Paddington’s rental market is buoyant, with high demand from young professionals, families, and students. The suburb’s proximity to the CBD, coupled with its vibrant lifestyle, makes it a popular choice for renters. Average rental yields for houses are around 3.2%, while units offer yields of approximately 4.5%.

• Median Rents: The median rent for houses in Paddington is about $700 per week, while units typically rent for around $450 per week.

Lifestyle and Amenities
Paddington offers a vibrant lifestyle with bustling cafes, boutique shops, and trendy restaurants along Latrobe and Given Terraces, all set against a backdrop of hilly, tree-lined streets. Paddington also has several parks and recreational spaces, including the popular Suncorp Stadium and the nearby Ithaca Pool.

Education and Schools
Paddington is close to reputable schools like Milton State School and Brisbane Grammar, making it attractive to families.

Recreation and Leisure
Residents of Paddington enjoy easy access to a range of recreational facilities, including local parks like Neal Macrossan Playground and the expansive Roma Street Parkland, just a short drive away.

Future Prospects
Paddington’s property market is expected to remain strong, with continued interest from buyers seeking character homes in a vibrant, inner-city location. The suburb’s enduring appeal, combined with its limited supply of properties and ongoing gentrification, ensures it will continue to be a highly sought-after area for both residents and investors.