The rent prices in real estate in Point Cook, in the Victoria 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 Point Cook has had a strong fall during the last 6 months. In October, the average price per m² was $10.72. In the following month the price per m² fell considerably to $6.29. The price for the following two months in (December, January) had a considerable fall of 6 with regard to the previous two months. The price per m² has had a considerable fall of 11 % 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 $4.51 to $0.51 during February, and March.
When referring to the price in Point Cook (suburbs), this has fallen considerably in the last 6 months. The average price for October is $12,912. During November the price had a considerable fall till $4,786. During the following two months (December, January) the average price had a considerable fall of 6 % 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 $4,676.25 to $511, which means a 11 % 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 $514 they are 43 % more affordable than the average price for Point Cook . The properties with the highest average price have 4 bedrooms, Their price is 10 % more expensive than the average. After that we have properties with 3 bedrooms priced at $442.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of $0.5 / m², with an average $0.52 / m² price in Point Cook. The properties with the most expensive average prices have 1 bedroom. They are 81 % more expensive than the average followed by properties with 2 bedrooms with a price at $0.8 / m².
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of $514 it is 28 % more affordable than the average price in Point Cook. "Condo" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Condo". At a price of $438 it is 1 % more expensive than the average price.
According to the average cost per m², the most affordable property is "House" at an average price of $0.52 / m² followed by "Condo" priced at $0.65 / m². "Apartment" is the most expensive type of property with a $0.75 / m² value followed by "Condo" with an average price of $0.65 / m².