Property prices for rent in Port Melbourne (Victoria)
The rent prices in real estate in Port 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 Port Melbourne has risen strongly during the last 6 months. In October, the average price per m² was $1.47. In November this price barely changed remaining at $1.47 per m². The price for the following two months in (December, January) had a considerable rise of 274 %. The price per m² has had a considerable rise of 1420 % 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 $2.75 to $39.02 during February, and March.
When referring to the price in Port Melbourne (suburbs), this has risen considerably in the last 6 months. In our first sample month during October, the average price is $910. In November This price remains at $910. During the following two months (December, January) the price has had an average rise from $910 to $987. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 508 % 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 $761 they are 25 % more affordable than the average price for Port Melbourne . Based on the bedrooms values, properties with the most expensive rent prices are those with 3 bedrooms. They are 30 % more expensive than the average aforementioned.
