The rent prices in real estate in Penrith, in the New South Wales region have slightly fallen in the last couple of months. There has been a fall in the rent prices in this city.
The price per m² in Penrith has fallen during the last 6 months. In August, the average price per m² was $95.37. In the following month the price per m² fell considerably to $75.98. The price for the following two months in (October, November) had a considerable rise of 127 %. The price per m² has had a considerable fall of 72 % 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 $97.07 to $69.93 during December, and January.
When referring to the price in Penrith (suburbs), this has fallen considerably in the last 6 months. The average price for August is $11,245. During September the price had a considerable fall till $7,540. During the following two months (October, November) the average price had a considerable fall of 74 % 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 $8,155.5 to $5,638, which means a 69 % 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 $2,777 they are 86 % more affordable than the average price for Penrith . The properties with the highest average price have 4 bedrooms, Their price is 357 % more expensive than the average. After that we have properties with 3 bedrooms priced at $453.
With regard to the average price per m², those properties with 2 bedrooms are the most affordable ones at a cost of $4.76 / m², with an average $24.88 / m² price in Penrith. The properties with the most expensive average prices have 4 bedrooms. They are 342 % more expensive than the average followed by properties with 1 bedroom with a price at $6.42 / m².
With regard to the average price based on the property in Penrith we can see that the least affordable type of property is "Apartment" at $12,679, which is 357 % more expensive than the average price. "Apartment" has the most expensive price. This price is 357 % more expensive than the average price aforementioned.
According to the average area price by m² the most expensive property type is "Apartment with an average cost of $110 / m². "Apartment" at an average price of $110 / m² has the highest price and would be directed at more affluent cities.