The rent prices in real estate in Moonee Ponds, 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 Moonee Ponds has had a strong fall during the last 6 months. In October, the average price per m² was $1.11. In November this price barely changed remaining at $1.11 per m². The price for the following two months in (December, January) fell 90 % with regard to the previous two months. The price per m² has had a considerable fall of 47 % 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 $1.06 to $0.5 during February, and March.
When referring to the price in Moonee Ponds (suburbs), this has fallen considerably in the last 6 months. In our first sample month during October, the average price is $542. In November This price remains at $540. In the following two months the average price has hardly changed with regard to the previous two months from $541 to $539. During the last two months the average price has fallen greatly compared to the previous four going from $540 to $269.5, which means a 50 % fall.