Property prices for sale in Melbourne (Victoria)
The prices in real estate in Melbourne, in the Victoria region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per m² in Melbourne has increased strongly during the last 6 months. In October, the average price per m² was $763. In the following month the price per m² increased to $817. The price for the following two months in (December, January) had a considerable increment of 140 %. The price per m² has had a considerable increase of 157 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per m² of $948 to $1,492.5 during February, and March.
Based upon to the price in Melbourne (suburbs), this has gone up considerably in the last 6 months. The price in October is $425,037, rising in November till $484,038. During the following two months (December, January) the average price had a considerable increase of 159 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 91 %, going from $589,609.5 to $536,128 in February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $601,749 they are 42 % more affordable than the average price for Melbourne. The properties with the highest average price have 4 bedrooms, Their price is 244 % more costly than the average. After that we have properties with 3 bedrooms priced at $1,301,624.
With regard to the average price per m² , those properties with 1 bedroom are the cheapest ones at a cost of $1,241 / m², with an average $2,074 / m² price in Melbourne. The properties with the highest average prices have 3 bedrooms. They are 14 % more expensive than the average followed by properties with 4 bedrooms with a price at $1,977 / m².
The graph displaying the average prices displays the property type "Office" as the most affordable one. At an cost of $601,749 it is 66 % cheaper than the average price in Melbourne. "Condo" is seen as the second most affordable property type. The dearest property type is "Townhouse" followed by "Apartment". At a price of $989,086 it is 180 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Condo" at an average cost of $1,077 / m² followed by "House" priced at $1,089 / m². "Apartment" is the most costly type of property with a $11,165 / m² cost followed by "Townhouse" with an average price of $6,533 / m².
