The rent prices in real estate in Coburg, in the Victoria 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 Coburg has had a strong fall during the last 6 months. In October, the average price per m² was $0.93. In November this price barely changed remaining at $0.93 per m². The price for the following two months in (December, January) had a considerable fall of 52 with regard to the previous two months. The price per m² has had a considerable fall of 0 % 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 $0.71 to during February, and March.
When referring to the price in Coburg (suburbs), this has fallen considerably in the last 6 months. In our first sample month during October, the average price is $578. In November This price remains at $578. During the following two months (December, January) the average price had a considerable fall of 58 % 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 $457.5 to $288.5, which means a 63 % 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 $577 they are 31 % more affordable than the average price for Coburg . Based on the bedrooms values, properties with the most expensive rent prices are those with 3 bedrooms. They are 8 % more expensive than the average aforementioned.