The rent prices in real estate in Magnetic Island, 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 Magnetic Island has had a strong fall during the last 6 months. In November, the average price per m² was $1.03. In the following month the price per m² fell to $0.94. The price for the following two months in (January, February) had a considerable rise of 121 %. The price per m² has had a considerable fall of 46 % 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 $1.09 to $0.5 during March, and April.
When referring to the price in Magnetic Island (suburbs), this has fallen considerably in the last 6 months. The average price for November is $403. During December the price had a slight fall till $370. During the following two months (January, February) the price has had an average rise from $386.5 to $416.5. During the last two months the average price has fallen greatly compared to the previous four going from $401.5 to $208, which means a 52 % fall.