The rent prices in real estate in Melbourne, 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 Melbourne has risen strongly during the last 6 months. In December, the average price per m² was $4.91. In the following month the price per m² fell considerably to $3.75. The price for the following two months in (February, March) had a considerable rise of 156 %. The price per m² has had a considerable rise of 122 % 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 $5.54 to $6.77 during April, and May.
When referring to the price in Melbourne (suburbs), this has risen considerably in the last 6 months. In our first sample month during December, the average price is $550. In January This price remains at $526. During the following two months (February, March) the average price had a considerable rise of 250 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from $942.25 to $478.5, which means a 51 % 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 $506 they are 30 % more affordable than the average price for Melbourne . The properties with the highest average price have 2 bedrooms, Their price is 390 % more expensive than the average. After that we have properties with 4 bedrooms priced at $481.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of $0.98 / m², with an average $7.32 / m² price in Melbourne. The properties with the most expensive average prices have 1 bedroom. They are 113 % more expensive than the average followed by properties with 2 bedrooms with a price at $11.87 / m².
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $506 it is 11 % more affordable than the average price in Melbourne. "Office" is seen as the second most affordable property type. The most expensive property type is "Apartment" followed by "Office". At a price of $686 it is 178 % more expensive than the average price.
According to the average cost per m², the most affordable property is "House" at an average price of $1.11 / m² followed by "Apartment" priced at $11.99 / m². "Office" is the most expensive type of property with a $22.04 / m² value followed by "Apartment" with an average price of $11.99 / m².