The rent prices in real estate in Penrith, 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 Penrith has risen strongly during the last 6 months. In October, the average price per m² was $0.91. In November this price barely changed remaining at $0.89 per m². The price for the following two months in (December, January) had a considerable rise of 127 %. The price per m² has had a considerable rise of 118 % 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 $1.02 to $1.21 during February, and March.
When referring to the price in Penrith (suburbs), this has risen in the last 6 months. In our first sample month during October, the average price is $542. In November This price remains at $539. In the following two months the average price has hardly changed with regard to the previous two months from $540.5 to $559. Based on an analysis of the first four prices and the last two months the average price has increased 110 % during the last two months.
The graph displaying the average rent price for bedrooms illustrates that those properties with 3 bedrooms are the most affordable ones. At a price of $644 they are 15 % more affordable than the average price for Penrith . The properties with the highest average price have 4 bedrooms, Their price is 15 % more expensive than the average. After that we have properties with 1 bedroom priced at $658.
With regard to the average price per m², those properties with 3 bedrooms are the most affordable ones at a cost of $0.66 / m², with an average $1.63 / m² price in Penrith. The properties with the most expensive average prices have 1 bedroom. They are 236 % more expensive than the average followed by properties with 2 bedrooms with a price at $1.44 / m².
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of $644 it is 9 % more affordable than the average price in Penrith. "House" is seen as the second most affordable property type. The most expensive property type is "Villa" followed by "House". At a price of $613 it is 1782 % more expensive than the average price.
According to the average cost per m², the most affordable property is "House" at an average price of $0.72 / m² followed by "Apartment" priced at $2.11 / m². "Villa" is the most expensive type of property with a $67 / m² value followed by "Apartment" with an average price of $2.11 / m².