Brendan Mayles Paddington Report FY16

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