Real Estate

Paddington market remains strong

Written by The ReReport
As seen in the Source link, written by news.com.au on 2019-02-12 05:00:17

A CHARACTER home at Paddington has sold for interstate buyers for $1.6 million.

The sale of 241 Baroona Rd was $450,000 more than the suburb median sale price.

According to CoreLogic Data, the median house sale price for Paddington was $1.15 million, which had experienced a 12.2 per cent increase in the 12 months to October 2018.

Place Paddington agent Sacha Hennessy said about 80 groups had inspected the property throughout the campaign and “multiple offers” had been received.

“It was a classic Queenslander but had a modern twist to the renovation and appealed to the full gamut of buyers from young couples to rent-vesters,” Ms Hennessy said.

“The luck buyers were a couple from interstate … who were predominantly looking in the area.”

The 120-year-old home had been recently renovated.

Ms Hennessy said Paddington continued to perform strongly.

“It’s a very solid performer, and it is attractive to not just locals but interstate buyers because of its proximity to good schools, cafes and the city,” she said.