Paddington terrace values skyrocket
The Principal of Ray White Paddington, Dean Jarman said property owners in Paddington have an opportunity to achieve significant gains this autumn.
Mr Jarman pointed to two properties on Brown Street, Paddington – similar in size and layout – that sold 22 months apart for a difference of close to $500,000.
On 23 May 2015, Mr Jarman sold the two bedroom terrace at 13 Brown Street for an above-reserve result of $1,395 million.
“The property sits on 89m² of land and the owners were thrilled with the result – it was well above reserve and an impressive sale for a terrace of that size,” Jarman recalled.
Roll the clock forward to 2017, and a similar two bedroom terrace at 9 Brown Street sold through Mr Jarman on 1 March for $1,876,200. The property was on a slightly larger parcel of land at 93m² and sold prior to auction.