The rent prices in real estate in Mornington, 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 Mornington has had a strong fall during the last 6 months. In February, the average price per m² was $43.19. In the following month the price per m² fell considerably to $23.1. The price for the following two months in (April, May) had a considerable fall of 47 with regard to the previous two months. The price per m² has had a considerable fall of 76 % 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 $24.44 to $18.65 during June, and July.
When referring to the price in Mornington (suburbs), this has fallen considerably in the last 6 months. The average price for February is $6,508. During March the price had a considerable fall till $3,201. During the following two months (April, May) the average price had a considerable fall of 45 % 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 $3,523.25 to $1,812.5, which means a 51 % fall.
The graph showing the average price for bedrooms displays the property with the most expensive price has 1 bedroom. It is 486 % more expensive than the average price of $12,504 in Mornington. Based on the bedrooms values, properties with the most expensive rent prices are those with 1 bedroom. They are 486 % more expensive than the average aforementioned.
With regard to the average prices per m² those properties with 1 bedroom are 300 % more expensive than the average price of ($107 / m²) in Mornington. Properties with the most expensive price when referring to the number of bedrooms / m² are those with 1 bedroom. They are 300 % more expensive than the average value aforementioned.
With regard to the average price based on the property in Mornington we can see that the least affordable type of property is "House" at $12,504, which is 486 % more expensive than the average price. "House" has the most expensive price. This price is 486 % more expensive than the average price aforementioned.
According to the average area price by m² the most expensive property type is "House with an average cost of $107 / m². "House" at an average price of $107 / m² has the highest price and would be directed at more affluent cities.