Property prices for rent in North Melbourne (Victoria)
The rent prices in real estate in North 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 North Melbourne has risen strongly during the last 6 months. In October, the average price per m² was $1.27. In November this price barely changed remaining at $1.28 per m². The price for the following two months in (December, January) had a considerable rise of 4196 %. The price per m² has had a considerable fall of 4 % 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 $27.39 to $1 during February, and March.
When referring to the price in North Melbourne (suburbs), this has risen considerably in the last 6 months. In our first sample month during October, the average price is $606. In November This price remains at $601. During the following two months (December, January) the average price had a considerable rise of 386 % 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 $1,465.25 to $624, which means a 43 % fall.
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 $610 they are 20 % more affordable than the average price for North Melbourne . The properties with the highest average price have 4 bedrooms, Their price is 60 % more expensive than the average. After that we have properties with 3 bedrooms priced at $729.
