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 September, the average price per m² was $2.9. In the following month the price per m² rose to $3.33. The price for the following two months in (November, December) had a considerable rise of 140 %. The price per m² has had a considerable fall of 72 % 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 $3.74 to $2.69 during January, and February.
When referring to the price in Melbourne (suburbs), this has risen considerably in the last 6 months. In our first sample month during September, the average price is $424. In October This price remains at $440. During the following two months (November, December) the average price had a considerable rise of 119 % with regard to the previous two months. 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 $472.25 and $489.5 between January and February.
The graph displaying the average rent price for bedrooms illustrates that those properties with 3 bedrooms are the most affordable ones. At a price of $453 they are 2 % more affordable than the average price for Melbourne . The properties with the highest average price have 2 bedrooms, Their price is 572 % more expensive than the average. After that we have properties with 1 bedroom priced at $465.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of $0.77 / m², with an average $1.63 / m² price in Melbourne. The properties with the most expensive average prices have 1 bedroom. They are 513 % more expensive than the average followed by properties with 2 bedrooms with a price at $7.9 / m².
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $453 it is 15 % more affordable than the average price in Melbourne. "Apartment" is seen as the second most affordable property type. The most expensive property type is "Apartment" followed by "House". At a price of $384 it is 2 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Apartment" at an average price of $1.06 / m² followed by "House" priced at $4.89 / m². "House" is the most expensive type of property with a $4.89 / m² value followed by "Apartment" with an average price of $1.06 / m².