The rent prices in real estate in Paddington, in the Queensland 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 Paddington has risen strongly during the last 6 months. In September, the average price per m² was $1.2. In October this price barely changed remaining at $1.21 per m². The price for the following two months in (November, December) had a considerable rise of 121 %. The price per m² has had a considerable rise of 130 % 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 $1.33 to $1.74 during January, and February.
When referring to the price in Paddington (suburbs), this has risen considerably in the last 6 months. In our first sample month during September, the average price is $798. In October This price remains at $796. During the following two months (November, December) the price has had an average rise from $797 to $906.5. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 117 % 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 $1,018 they are 37 % more affordable than the average price for Paddington . The properties with the highest average price have 4 bedrooms, Their price is 87 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,540.
With regard to the average price per m², those properties with 2 bedrooms are the most affordable ones at a cost of $1.49 / m², with an average $1.78 / m² price in Paddington. The properties with the most expensive average prices have 1 bedroom. They are 13 % more expensive than the average followed by properties with 3 bedrooms with a price at $1.79 / m².
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of $1,018 it is 30 % more affordable than the average price in Paddington. "House" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Apartment". At a price of $709 it is 30 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Apartment" at an average price of $1.75 / m² followed by "House" priced at $1.8 / m². "House" is the most expensive type of property with a $1.8 / m² value followed by "Apartment" with an average price of $1.75 / m².