Paddington 4064 - Queensland

Click here for the latest property prices in Paddington

Paddington is a mainly residential suburb in the inner west of Brisbane, and in common with other suburbs in the area, is located on a number of steep ridges and hills. It was originally settled in the 1860s, and many of the original and distinctive Queenslander homes can still be found in the suburb. Houses are still frequently built on stumps, owing to the steep nature of their blocks.

Of particular note in the suburb is the commercial precinct centred on Caxton Street. Throughout its history, there have been significant buildings and sites that have helped to develop the area, some of which still stand. These structures include the Petrie Terrace Barracks, the Caxton Hotel and Lang Park, now known as Suncorp Stadium. It is through places such as these that make Caxton Street special and important to Brisbane's heritage.

In more recent times, Caxton Street has been further transformed into a more modern precinct, with pubs, clubs and restaurants adding to the atmosphere and dominating the street. Even though the street has changed dramatically in modern days, one can still view the traditional aspects of this Brisbane landmark.

Property in Paddington is dominated by renovated workers cottages and Queenslanders, which give the suburb a distinctive Brisbane 'feel' and truly characterises the area as an historic Queensland location.

A number of restrictions exist on established and new buildings in the area, helping to maintain Paddington's special character.

The median house price in the suburb for the calendar year 2005 was $509,500. And the median unit price for the same period was $310,000. The median weekly rent paid for a 3-bedroom house in this area in the December 2005 quarter was $350. The median weekly rent paid for a 2-bedroom unit in this area for the same period was $260.

Latest Market Price in Paddington

The median house price in Paddington has dropped -3% from $746,000 in the 6 months to March 2008 to $725,000 in the 6 months to September 2008. The long term trend for house prices in Paddington over the last 10 years is +15.1% per annum.

The median unit price in Paddington for the same period has risen 2% from $430,000 to $440,000. The long term trend for unit prices in Paddington over the last 10 years is +8% per annum.

Click here to automatically receive this information each month