BRENDAN MAYLES Paddington Report FINANCIAL YEAR 2016
A word from Brendan Mayles The Paddington property market has shown ongoing strength in Financial Year 2016, with the median house price rising above $900,000 for the first time. The sub-$1M market has been buzzing with a mix of local upgraders, southern investors and overseas ex-pats combining to fuel the local market. It has also been an excellent year for prestige property. We have steadily seen a flow of Sydney and Melbourne buyers up north. A recent example of this at 105 Outlook Crescent, Bardon where our team managed to sell the Shaun Lockyer designed home off market for a record $4.2 million to a buyer off our exclusive client base living in Sydney. Premium areas such as Ascot, Hamilton, New Farm and Bulimba all have a median house price at a lowest 19% higher than Paddington - ranging from $1,150,000 to $1,500,000. Paddington has much more room for growth because it is coming off a lower base. We are very optimistic about the potential for steady ongoing price growth. Apartments are a different story, with a rising oversupply in inner city areas like West End, Fortitude Valley, Newstead and Hamilton. Buyers are very discerning and only competing for properties with unique features. Downsizers are snapping up three-bedroom properties but the smaller non-descript options are sitting on the shelf. This year I have expanded my team with my wife Kate now working alongside me full time as a marketing manager and co-agent and a second point of contact for all my loyal clientele. After 11 years in the real estate in the real estate industry herself I am extremely lucky to have someone so experienced join the team. If you have any questions regarding the report, or if you are considering your property options, please don’t hesitate to contact me on the details below. Brendan Mayles D 3088 1520 M 0402 659 010 E brendanmayles@mcgrath.com.au
Top 10 Paddington House Sales* Address
Bed Bath
Car
Sold Date
Land Size
Sale Price
1
78 Howard Street
5
4
2
Feb 16
810sqm
$3.75M
2
45 Carrington Street
4
3
2
Mar 16
546sqm
$2.3M
3
15 Bernhard Street
3
2
2
May 16
810sqm
$2.225M
4
108 Rockbourne Terrace
5
4
2
Nov 15
1,085sqm
$2.15M
5
38 Plunkett Street
4
3
2
Mar 16
597sqm
$2.1M
6
33 Brindle Street
5
2
3
Oct 15
1,062sqm
$2.1M
7
154 Kennedy Terrace
6
2
2
Oct 15
1,012sqm
$2.06M
8
36 View Street
4
3
2
May 16
574sqm
$2.051M
9
34 Wilden Street
4
4
2
Mar 16
405sqm
$2.05M
10 38 Brindle Street
5
3
2
Dec 15
1,062sqm
$2M
Car
Sold Date
Land Size
Sale Price
*Settled sales
Lowest 10 Paddington House Sales* Address
Bed Bath
1
73 Guthrie Street
3
1
1
Nov 15
274sqm
$620,000
2
6 McNab Street
3
1
1
Nov 15
405sqm
$650,000
3
43 Plunkett Street
2
1
-
May 16
151sqm
$670,000
4
62 Beck Street
2
1
2
Oct 15
412sqm
$671,000
5
60 Beck Street
3
1
1
Jul 15
407sqm
$675,000
6
39 Ellena Street
2
1
1
Mar 16
405sqm
$675,000
7
87 Tooth Avenue
4
1
1
Oct 15
503sqm
$695,000
8
86 Charlotte Street
4
1
1
Nov 15
450sqm
$700,000
9
13 Bellavista Terrace
3
1
1
Dec 15
506sqm
$705,000
10 11 Gladstone Street
2
1
2
Oct 15
397sqm
$705,000
*Settled sales The information in this report is being provided by CoreLogic RP Data, Price Finder and MARS (McGrath’s CRM System) for the period July 2015 to June 2016. Its accuracy cannot be guaranteed. Parties should rely on their own enquires and McGrath will not be liable for error or admissions herein.
Paddington Statistics Houses No. Sold
Median
Highest
Lowest
Average Rent
Average Yield
141
$938K
$3.750M
$620K
$600 per week
+3.26%
No. Sold
Median
Highest
Lowest
Average Rent
Average Yield
49
$560K
$880K
$238K
$395 per week
+3.72%
Apartments
Paddington Median House Price
2006 $541,000
1996 $200,000
2016 $938,000
Local House Activity Suburb
Median
Sales
$1M+ Sales
1Yr Median Change
Highest Sale
Paddington
$938K
141
65
6.59%
$3.75M
Bardon
$850K
147
42
1.37%
$4.2M
Red Hill
$850K
89
27
9.67%
$2.2M
Auchenflower
$882K
77
20
2.00%
$3M
Milton
$840K
22
6
1.81%
$1.45M
Petrie Terrace
$820K
23
3
17.81%
$1.375M
9
Number of $2M+ house sales in Paddington’s Financial Year 2016
41
Number of $2M+ house sales in Paddington’s history
Capital City Median House Prices Houses Apartments
$1.08M
$852K
$734K $668K $596K
$528K
$518K
$512K
$482K
$456K $436K
$416K
$406K $360K $328K
Hobart
$346K
Adelaide
100%
Brisbane
My list to sell success for the last 18 months.
Darwin
$
Perth
Canberra
1400
Melbourne
Open houses by McGrath in Brisbane’s inner city.
Sydney
OF I
Brendan Mayles is going desert for Youngcare In May 2017, I will be taking on an epic 250 kilometre adventure to trek across the Simpson Desert. Isolation, extreme heat, 1,000 sand dunes, carrying a 12kg pack, sleeping in the wilderness and eating ration packs for 8 days are a few of the experiences I have to overcome. It’s all for an important reason; right now, 7,000 young Australians with high care needs are living in aged care simply because there are few other options to receive dignified, relevant and age-appropriate care and housing. This is an issue that has gone unaddressed for far too long. Youngcare work to create real choices in care and age-appropriate accommodation for young Aussies with high care needs. As a trekker a fundraising target applies and my goal is to raise $35,000 which will make a significant impact on the lives of young Australians in desperate need in our community. I’d welcome you to follow my journey on Facebook at www.facebook.com/SimpsonDesert2017
Desert
2017
Simpson Challenge
Brendan Mayles 3088 1520 0402 659 010 brendanmayles@mcgrath.com.au mcgrath.com.au