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 November, the average price per m² was $14.15. In the following month the price per m² fell considerably to $1.12. The price for the following two months in (January, February) had a considerable fall of 14 with regard to the previous two months. The price per m² has had a considerable fall of 25 % 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 $4.34 to $1.07 during March, and April.
When referring to the price in Red Hill (suburbs), this has fallen considerably in the last 6 months. The average price for November is $11,472. During December the price had a considerable fall till $646. During the following two months (January, February) the average price had a considerable fall of 9 % 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 $3,288.25 to $571.5, which means a 17 % 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 $623 they are 35 % more affordable than the average price for Red Hill . The properties with the highest average price have 4 bedrooms, Their price is 43 % more expensive than the average. After that we have properties with 3 bedrooms priced at $802.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of $0.83 / m², with an average $1.1 / m² price in Red Hill. The properties with the most expensive average prices have 1 bedroom. They are 13 % more expensive than the average followed by properties with 2 bedrooms with a price at $1.2 / m².
The graph displaying the average rent prices displays the property type "Condo" as the most affordable one. At an cost of $623 it is 12 % more affordable than the average price in Red Hill. "Apartment" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Apartment". At a price of $615 it is 1 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Condo" at an average price of $0.84 / m² followed by "House" priced at $0.93 / m². "Apartment" is the most expensive type of property with a $1.29 / m² value followed by "House" with an average price of $0.93 / m².