The rent prices in real estate in Cairns, in the Queensland region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per m² in Cairns has had a strong fall during the last 6 months. In December, the average price per m² was $1.1. In the following month the price per m² fell to $0.97. The price for the following two months in (February, March) fell 87 % with regard to the previous two months. The price per m² has fallen 91 % 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 $0.97 to $0.88 during April, and May.
When referring to the price in Cairns (suburbs), there have hardly been any changes in the last 6 months. In our first sample month during December, the average price is $423. In January This price remains at $409. In the following two months the average price has hardly changed with regard to the previous two months from $416 to $415. During the last two months, the average price has barely gone through any changes with regard to the previous average values going from an average value of $415.5 and $412.5 between April and May.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of $420 they are 31 % more affordable than the average price for Cairns . The properties with the highest average price have 4 bedrooms, Their price is 5 % more expensive than the average. After that we have properties with 3 bedrooms priced at $406.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of $0.71 / m², with an average $1.03 / m² price in Cairns. The properties with the most expensive average prices have 1 bedroom. They are 332 % more expensive than the average followed by properties with 2 bedrooms with a price at $1.63 / m².
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of $420 it is 29 % more affordable than the average price in Cairns. "House" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Apartment". At a price of $299 it is 0 % more expensive than the average price.
According to the average cost per m², the most affordable property is "House" at an average price of $0.7 / m² followed by "Apartment" priced at $3.07 / m². "Apartment" is the most expensive type of property with a $3.07 / m² value followed by "House" with an average price of $0.7 / m².