Property prices for rent in Fern Hill (Victoria)
The rent prices in real estate in Fern Hill, in the Victoria region have risen considerably in the last couple of months. There has been a strong rise in the rent prices this city.
The price per m² in Fern Hill has risen strongly during the last 6 months. In November, the average price per m² was $0.82. In the following month the price per m² rose to $0.9. In the following two months the price per m² has risen 108 %, going from $0.86 to $0.93 per m². The price per m² has risen 111 % 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 $0.89 to $0.99 during March, and April.
When referring to the price in Fern Hill (suburbs), there have hardly been any changes in the last 6 months. In our first sample month during November, the average price is $636. In December This price remains at $647. In the following two months the average price has hardly changed with regard to the previous two months from $641.5 to $633. 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 $637.25 and $659 between March and April.
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 $678 they are 40 % more affordable than the average price for Fern Hill . The properties with the highest average price have 4 bedrooms, Their price is 31 % more expensive than the average. After that we have properties with 3 bedrooms priced at $751.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of $0.8 / m², with an average $1 / m² price in Fern Hill. The properties with the most expensive average prices have 1 bedroom. They are 28 % more expensive than the average followed by properties with 2 bedrooms with a price at $1.13 / m².
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of $678 it is 5 % more affordable than the average price in Fern Hill. "Condo" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Condo". At a price of $668 it is 17 % more expensive than the average price.
According to the average cost per m², the most affordable property is "House" at an average price of $0.9 / m² followed by "Condo" priced at $0.98 / m². "Apartment" is the most expensive type of property with a $1.09 / m² value followed by "Condo" with an average price of $0.98 / m².
