Rangers remain bottom of the table despite taking points from Chelsea, Tottenham and now Man City in recent weeks and Redknapp's hard-work ethos appears to be keeping the west London club in the survival picture.
"Of course it is a bonus point, it is a great point," he said. "They rip teams to pieces home and away, you would take a point off them at any time. It is a fantastic result."
Pablo Zabaleta hit the bar for City as they toiled at a wet and windy Loftus Road whilst QPR goalkeeper Julio Cesar made a handful of excellent saves to keep the scores level.
Adel Taarabt and Loic Remy had mere glimpses of the City goal throughout the game but Redknapp was pleased to secure a much-needed point, and he added: "I wouldn't say it is the end (of the title race) - it is a good result for Fergie (Manchester United manager Sir Alex Ferguson) for sure, but it is still open."
Where Redknapp was praising a point gained, City boss Roberto Mancini was left ruing his side's missed opportunity to put real pressure on neighbours United.
Ferguson's side face Southampton at Old Trafford on Wednesday evening knowing a victory would re-establish the seven-point lead they built up over the festive period but even if the Red Devils are successful Mancini is not ready to throw in the towel.
"We lost two points, this is sure," he said. "But the season is long and I think I can say nothing because we played well, we had the chances but didn't score - that is all it is.
"We are disappointed with this result because we had a lot of chances to win, we dominated this game but when you play like this and don't score quickly it can be difficult."
"QPR defended very well and got players behind the ball and Julio Cesar was incredible."
- Sports & Recreation