The rent prices in real estate in Newtown, in the Queensland 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 Newtown has had a strong fall during the last 6 months. In July, the average price per m² was $205.8. In August this price barely changed remaining at $207.13 per m². The price for the following two months in (September, October) had a considerable fall of 71 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 $176.9 to $134.02 during November, and December.
When referring to the price in Newtown (suburbs), there have hardly been any changes in the last 6 months. The average price during our first sample month during July, is $13,693. During August the price went through a considerable rise reaching $20,319. During the following two months (September, October) the average price fell 87 % 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 $15,905.75 to $9,383, which means a 59 % fall.
The graph showing the average price for bedrooms displays the property with the most affordable price has 1 bedroom. It is 35 % more affordable than the average price of $7,535 in Newtown. Based on the bedrooms values, properties with the most affordable rent prices are those with 1 bedroom. They are 35 % more affordable than the average aforementioned.
With regard to the average prices per m² those properties with 1 bedroom are 56 % more affordable than the average price of ($85 / m²) in Newtown. Properties with the most affordable price when referring to the number of bedrooms / m² are those with 1 bedroom. They are 56 % more affordable than the average value aforementioned.
With regard to the average price based on the property in Newtown we can see that the most affordable type of property is "House" at $7,535, which is 35 % cheaper than the average price. "House" has the most affordable price. This price is 35 % more affordable than the average price aforementioned.
According to the average area price by m² the most affordable property type is "House with an average cost of $85 / m². "House" with an average price of $85 / m² has the most affordable price and would be directed at less affluent cities.