It's known as Brisbane's quaint inner-city suburb, and now Paddington is smashing sales records.
From ugly ducklings to beautiful swans - homes that have undergone huge transformations has Paddington topping the list for house sales this year.
A recently renovated Queenslander on Alma Street is one of these homes.
Looking at it now, you would never know it was once a rundown cottage.
"This was a shocker of a house,” owner Craig Seitam said.
“The irony is, it was so bad it turned us off buying a house two doors up. We thought we can’t live near this thing because it looked so horrible."
Mr Seitam and his wife, Helen were after a project home.
“It had to have a panoramic city view but our luck ran out as there was very little we liked on the market. By chance, the ugliest house on Alma Street came on the market. Out of curiosity, we walked up the back and looked over the roof and thought, this could be something.”
Pictured: 64 Alma Street, before the renovation. Image supplied by Ray White New Farm.
The current building had been used as a boarding house, configured into four small bedrooms on the top floor with a separate flat containing three bedrooms below.
“It was a classic case of worst house, best street,” Mr Seitam said.
Fast forward to now, and the once rundown 1920s 'hovel' has been transformed into a high-end Queenslander.
Marketing agent Christine Rudolph of Ray White New Farm told WILLIAMS MEDIA the home typifies “some of the incredible transformations we’re currently seeing to the Paddington streetscape”.
“What’s very exciting about it is that transformations like this are really satisfying buyers’ thirst for a beautiful lifestyle home already completed and so close to the CBD,” Ms Rudolph said.
“There’s no doubt in the past 12 months we’ve really seen continued evidence of buyer demand for these types of homes, which has driven prices up by more than 10 per cent."
Three of Brisbane's top 10 sales so far this year have all been in Paddington, with record prices for small lots.
Ms Rudolph told WILLIAMS MEDIA the demand is coming from downsizers and empty nesters.
"Many of the smaller cottages are very attractive to empty nesters and downsizers, who still want to stay in the area, but who like the smaller low-set workers cottages. They still have all the appeal of a larger home but are on low maintenance blocks, are all on one level and have no stairs."
Ms Rudolph says young professionals and Sydney-siders are also driving up demand.
"Young professionals are also a key driver - they can walk to work from Paddington to the CBD. With major hospitals close by we also see a lot of medics favouring this suburb.
"Sydney-siders love Paddington as compared with the Eastern suburbs of Sydney, they can have a similar address with double the land size for half the price."
Ms Rudolph says the outcome of the Royal Commission and the upcoming State Election have had little effect on the market.
"People always need to find a great home to live in a good location regardless of the market.
"The evidence of record prices in this suburb within the last three months, strong numbers through open homes and a desire to find a gorgeous home in this pretty suburb have defied any concerns regarding the Royal Commission and the upcoming election, with buyers spending big for the right home.
"We are a stable economy and unlike our southern states, we are traditionally a steady growth capital which gives investors confidence in the long-term performance."
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