The prices in real estate in Parramatta, in the New South Wales 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 Parramatta has increased strongly during the last 6 months. In October, the average price per m² was $755. In the following month the price per m² decreased to $712. The price for the following two months in (December, January) had a considerable increment of 173 %. The price per m² has had a considerable increase of 140 % 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 $1,002.25 to $1,401 during February, and March.
Based upon to the price in Parramatta (suburbs), these have remained the same in the last 6 months. In our first sample month during October, the average price is $344,588. In November This price remains at $335,225. During the following two months (December, January) the price has had an average incrementation from $339,906.5 to $361,547.5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 90 %, going from $350,727 to $315,750 in February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 4 bedrooms are the cheapest ones. At a price of $273,333 they are 96 % more affordable than the average price for Parramatta. The properties with the highest average price have 3 bedrooms, Their price is 308 % more costly than the average. After that we have properties with 2 bedrooms priced at $391,558.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of $8 / m², with an average $1,544 / m² price in Parramatta. The properties with the lowest average prices have 3 bedrooms. They are 19 % cheaper than the average followed by properties with 2 bedrooms with a price at $1,242 / m².
The graph displaying the average prices displays the property type "House" as the most costly one. At an cost of $273,333 it is 173 % more expensive than the average price in Parramatta. "Apartment" is seen as the second dearest property type. The dearest property type is "Apartment" followed by "House". At a price of $746,890 it is 175 % more expensive than the average price.
According to the average cost per m², the most expensive property type would be "House" at an average cost of $9,560 / m² followed by "Apartment" priced at $9,620 / m². "Apartment" is the most costly type of property with a $9,620 / m² cost followed by "House" with an average price of $9,560 / m².