Buyers Agent profile of Paddington
Homesearch Solutions has purchased numerous properties in Paddington over the past 16 years for both home owners and investors
Paddington is one of the most well known suburbs in Sydney and is highly sought after. Famous for it’s rows of Victorian era terrace houses, restaurants, pubs, cafes and shops, it’s proximity to the CBD and other suburbs in the East, make it an ideal location to live.
Originally more of a working class suburb, Paddington underwent a massive upgrade from the 1970’s onwards, with renovators since improving many of the thousands of terrace houses there.
Known as “Paddo” to the locals, the sense of community there is strong. You don’t have to walk far to meet friends at the local cafe, pub or restaurant.
Many of our buyers for Paddington tend to be couples, young families, expats and also down sizers.
Demand has caused prices to rise significantly there recently, although it tends to be more affordable than neighbouring Woollahra.
What type of property will you be able to buy in Paddington with your budget ?
Budget of around $250,000
Possibly a very small uninspiring studio unit, although there are not many available at this price level. Most studios tend to be well over $300,000.
4/6 Underwood St – sold for $230,000 in September 2015.
Studio unit. 1 bedroom combined with living, small bathroom and kitchenette, unrenovated, very small inside, no balcony or parking, limited outlook.
Around $500,000
Basic 1 bedroom units are available but will not have parking, and will be limited in size.
7/352 Moore Park Rd – sold for $500,000 in July 2015
Maisonette Unit. 1 bedroom with separate living area, small modern kitchen, bathroom, stairs up to unit
Around $750,000
1 and 2 bedroom units will be available and often with parking.
12/1 Brodie St – sold for $740,000 in October 2015
Unit. 1 bedroom, 1 bathroom, 1 parking space. Modern building, renovated, balcony with views to the city.
49/204 Jersey Rd – sold for $728,000 in June 2015
Unit. 2 bedrooms, 1 bathroom, no parking. Partly renovated, 1960’s style building, small balcony with a district outlook, lift access.
Around $1,000,000
At this price level you will still be mostly looking at 2 bedroom units, but also at very basic small terrace houses.
24 West St – sold for $983,000 in November 2015
Attached terrace house. 2 bedrooms, 1 bathroom terrace with no parking. Over 2 levels, unrenovated, narrow, has a small rear courtyard.
6/352 Moore Park Rd – sold for $985,000 in July 2015
Unit. 2 bedrooms, 2 bathrooms, 1 parking space. Modern unit over 2 levels, renovated.
Around $1,500,000
Mostly narrow terrace houses, and some quality units.
162 Windsor St – sold for $1,500,000 in October 2015
Attached terrace house. 2 bedrooms, 1 bathroom, rear garage parking. Over 2 levels, narrow and unrenovated, quality street and location.
14/11 Young St – sold for $1,520,000 in September 2015
Unit. 2 bedrooms, 2 bathrooms, 2 car spaces. Quality modern unit in the Paddington Green area, renovated and with 2 balconies.
Around $2,000,000
This price level will provide a better quality terrace house, and may be renovated and/or have parking.
137 Hargrave St – sold for $2,000,000 in August 2015
Attached terrace house. 3 bedrooms, 1 bathroom, 1 car garage at rear. Over 3 levels, modern renovation, rear courtyard
Around $2,500,000
Higher quality terrace house and will usually be renovated and with parking.
38 Stewart St – sold for $2,400,000 in October 2015
Attached terrace house. 3 bedrooms, 2 bathrooms, 1 car garage. Grand Victorian terrace, relatively wide, over 2 levels, renovated, rear courtyard.
Above $3,000,000
Premium houses in Paddington tend to be a mix of grand Victorian terrace houses, modern buildings and architectural conversions.
24 Albion Ave – sold for $2,900,000 in October 2015
Villa style house. 4 bedrooms, 2 bathrooms, no parking. 3 level modern villa, renovated, large overall internal and external space.
86 Hargrave St – sold for $3,520,000 in October 2015
Attached terrace house. 3 bedrooms, 2 bathrooms, 2 car spaces. Modernised 4 level house, well renovated, pool and garden.
86 Cascade St – sold for $4,000,000 in September 2015
Attached house. 5 bedrooms, 3 bathrooms, 1 car space. Modern house over 3 levels, pool, garden areas.
Windsor Castle Hotel – sold for around $13M in October 2015
Hotel converted to a residence. 4 levels, 5 bedrooms, renovated and modernised building with basement parking, lift and a swimming pool. Record sale in Paddington.
Homesearch Solutions has been purchasing all types of properties for our clients in Paddington over the past 16 years. Therefore we know the area very well and what is achievable with your budget. Call Henry Wilkinson on 0409 105015 anytime if you would like to discuss your purchasing options there.
