The rent prices in real estate in Clovelly, in the New South Wales 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 Clovelly has had a strong fall during the last 6 months. In October, the average price per m² was $2.38. In the following month the price per m² fell to $2.21. The price for the following two months in (December, January) had a considerable fall of 80 with regard to the previous two months. The price per m² has fallen 88 % 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 $2.07 to $1.83 during February, and March.
When referring to the price in Clovelly (suburbs), this has fallen considerably in the last 6 months. The average price for October is $2,324. During November the price had a slight fall till $1,999. During the following two months (December, January) the average price had a considerable fall of 40 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from $1,518 to $884.5, which means a 58 % fall.
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 $911 they are 23 % more affordable than the average price for Clovelly . The properties with the highest average price have 4 bedrooms, Their price is 155 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,341.
With regard to the average price per m², those properties with 3 bedrooms are the most affordable ones at a cost of $1.59 / m², with an average $1.84 / m² price in Clovelly. The properties with the most expensive average prices have 1 bedroom. They are 25 % more expensive than the average followed by properties with 4 bedrooms with a price at $2.06 / m².
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of $911 it is 9 % more affordable than the average price in Clovelly. "Condo" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Condo". At a price of $1,335 it is 103 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Condo" at an average price of $1.54 / m² followed by "Apartment" priced at $1.8 / m². "House" is the most expensive type of property with a $2.09 / m² value followed by "Apartment" with an average price of $1.8 / m².