The rent prices in real estate in Fortitude Valley, 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 Fortitude Valley has had a strong fall during the last 6 months. In March, the average price per m² was $494.67. In the following month the price per m² fell considerably to $17.85. The price for the following two months in (May, June) had a considerable fall of 12 with regard to the previous two months. The price per m² has fallen 90 % 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 $144.01 to $129.79 during July, and August.
When referring to the price in Fortitude Valley (suburbs), this has fallen considerably in the last 6 months. The average price for March is $12,573. During April the price had a considerable fall till $458. During the following two months (May, June) the average price had a considerable fall of 15 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 244 % during the last two months.
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 $8,824 they are 95 % more affordable than the average price for Fortitude Valley . The properties with the highest average price have 4 bedrooms, Their price is 33 % more expensive than the average. After that we have properties with 2 bedrooms priced at $643.
With regard to the average prices per m² those properties with 4 bedrooms are 84 % more expensive than the average price of ($157 / m²) in Fortitude Valley. Properties with the most expensive price when referring to the number of bedrooms / m² are those with 4 bedrooms. They are 84 % more expensive than the average value aforementioned.
With regard to the average price based on the property in Fortitude Valley we can see that the least affordable type of property is "Apartment" at $11,724, which is 33 % more expensive than the average price. "Apartment" has the most expensive price. This price is 33 % more expensive than the average price aforementioned.
According to the average area price by m² the most expensive property type is "Apartment with an average cost of $157 / m². "Apartment" at an average price of $157 / m² has the highest price and would be directed at more affluent cities.