The rent prices in real estate in Geelong West, 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 Geelong West has risen strongly during the last 6 months. In November, the average price per m² was $0.63. In the following month the price per m² rose considerably to $0.73. In the following two months the price per m² has risen 111 %, going from $0.68 to $0.75 per m². The price per m² has hardly changed in the last two months compared to the average price of the previous four months going from an average price of $0.72 to $0.7 during March y April
When referring to the price in Geelong West (suburbs), this has fallen in the last 6 months. In our first sample month during November, the average price is $476. In December This price remains at $468. In the following two months the average price has hardly changed with regard to the previous two months from $472 to $449.5. 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 $460.75 and $439 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 $425 they are 28 % more affordable than the average price for Geelong West . The properties with the highest average price have 4 bedrooms, Their price is 36 % more expensive than the average. After that we have properties with 3 bedrooms priced at $439.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of $0.49 / m², with an average $0.67 / m² price in Geelong West. The properties with the most expensive average prices have 1 bedroom. They are 51 % more expensive than the average followed by properties with 2 bedrooms with a price at $0.82 / m².
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of $425 it is 5 % more affordable than the average price in Geelong West. "House" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "House". At a price of $422 it is 18 % more expensive than the average price.
According to the average cost per m², the most affordable property is "House" at an average price of $0.54 / m² followed by "Condo" priced at $0.63 / m². "Apartment" is the most expensive type of property with a $0.99 / m² value followed by "Condo" with an average price of $0.63 / m².