The rent prices in real estate in Kew, 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 Kew has had a strong fall during the last 6 months. In September, the average price per m² was $20.76. In October this price barely changed remaining at $20.48 per m². In the following two months the price per m² has practically remained the same, going from $20.62 to $19.86 per m². The price per m² has had a considerable fall of 6 % 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 $20.24 to $1.14 during January, and February.
When referring to the price in Kew (suburbs), this has fallen considerably in the last 6 months. In our first sample month during September, the average price is $14,288. In October This price remains at $14,058. In the following two months the average price has hardly changed with regard to the previous two months from $14,173 to $13,827. During the last two months the average price has fallen greatly compared to the previous four going from $14,000 to $781.5, which means a 6 % 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 $795 they are 49 % more affordable than the average price for Kew . The properties with the highest average price have 4 bedrooms, Their price is 71 % more expensive than the average. After that we have properties with 3 bedrooms priced at $934.
With regard to the average price per m², those properties with 3 bedrooms are the most affordable ones at a cost of $1.06 / m², with an average $1.16 / m² price in Kew. The properties with the most expensive average prices have 1 bedroom. They are 16 % more expensive than the average followed by properties with 4 bedrooms with a price at $1.2 / m².
With regard to the average price based on the property in Kew we can see that the most affordable type of property is "Apartment" at $573, which is 28 % cheaper than the average price. "Apartment" has the most affordable price. This price is 28 % more affordable than the average price aforementioned.
According to the average area price by m² the most affordable property type is "Apartment with an average cost of $1.14 / m². "Apartment" with an average price of $1.14 / m² has the most affordable price and would be directed at less affluent cities.