Property prices for rent in Newcastle (New South Wales)
The rent prices in real estate in Newcastle, in the New South Wales 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 Newcastle has risen strongly during the last 6 months. In October, the average price per m² was $0.84. In November this price barely changed remaining at $0.84 per m². The price for the following two months in (December, January) had a considerable rise of 149 %. The price per m² has had a considerable rise of 217 % 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 $1.04 to $2.27 during February, and March.
When referring to the price in Newcastle (suburbs), this has risen considerably in the last 6 months. In our first sample month during October, the average price is $540. In November This price remains at $542. During the following two months (December, January) the average price had a considerable rise of 120 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 133 % during the last two months.
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 $822 they are 39 % more affordable than the average price for Newcastle . The properties with the highest average price have 4 bedrooms, Their price is 77 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,009.
With regard to the average price per m², those properties with 1 bedroom are the most affordable ones at a cost of $1.72 / m², with an average $2.72 / m² price in Newcastle. The properties with the most expensive average prices have 4 bedrooms. They are 68 % more expensive than the average followed by properties with 3 bedrooms with a price at $3.02 / m².
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of $822 it is 28 % more affordable than the average price in Newcastle. "House" is seen as the second most affordable property type. The most expensive property type is "Land" followed by "Villa". At a price of $8,188 it is 1506 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Apartment" at an average price of $1.33 / m² followed by "House" priced at $6.17 / m². "Land" is the most expensive type of property with a $119 / m² value followed by "Townhouse" with an average price of $28 / m².
