The rent prices in real estate in Red Hill, in the Queensland 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 Red Hill has had a strong fall during the last 6 months. In October, the average price per m² was $15.5. In the following month the price per m² fell to $14.15. The price for the following two months in (December, January) had a considerable fall of 7 with regard to the previous two months. The price per m² has had a considerable fall of 13 % 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 $7.95 to $1.04 during February, and March.
When referring to the price in Red Hill (suburbs), this has fallen considerably in the last 6 months. In our first sample month during October, the average price is $11,558. In November This price remains at $11,472. During the following two months (December, January) the average price had a considerable fall of 5 % 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 $6,042.5 to $530.5, which means a 9 % 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 $520 they are 36 % more affordable than the average price for Red Hill . The properties with the highest average price have 4 bedrooms, Their price is 61 % more expensive than the average. After that we have properties with 3 bedrooms priced at $768.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of $0.77 / m², with an average $1.04 / m² price in Red Hill. The properties with the most expensive average prices have 2 bedrooms. They are 14 % more expensive than the average followed by properties with 1 bedroom with a price at $1.08 / m².
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $520 it is 7 % more affordable than the average price in Red Hill. "Condo" is seen as the second most affordable property type. The most expensive property type is "Apartment" followed by "Condo". At a price of $509 it is 11 % more expensive than the average price.
According to the average cost per m², the most affordable property is "House" at an average price of $0.89 / m² followed by "Condo" priced at $1.04 / m². "Apartment" is the most expensive type of property with a $1.29 / m² value followed by "Condo" with an average price of $1.04 / m².