City were much the better side in the first half, and Júlio César had to produce a world-class save to deny Citzens midfielder Gareth Barry on the stroke of half-time.
QPR looked to hit the visitors on the counter-attack for much of the encounter, and Adel Taarabt broke past the City rearguard midway through the second half but the Moroccan was denied by Joe Hart.
However, the best chance of the match fell to David Silva in the 82nd minute, with the Spain international’s close-range shot superbly blocked by César.
“It was an excellent performance,” Redknapp told QPR’s website.
“We defended well, we hit them on the counter-attack a couple of times and had a great opportunity in the first half with a great break from Adel.
“We defended fantastically all over the park, everybody worked hard.
“It was another solid performance, another clean sheet.
“It was another big point for us today.”
QPR are now unbeaten in four outings in the Premier League following a victory over Chelsea and successive draws against City, Tottenham Hotspur and West Ham United.
It means the Hoops are four points behind 17th-place Wigan Athletic, and Redknapp praised his side’s improvement this year after a disastrous 3-0 loss to Liverpool in their last game of 2012.
“It’s a fantastic run we’ve been on,” Redknapp added. “When you looked at the games coming and the amount of points we’ve taken and the way we’ve performed, it has been excellent.
“We’ve put ourselves back within touching distance.”
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