The rent prices in real estate in Surrey Hills, 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 Surrey Hills has had a strong fall during the last 6 months. In October, the average price per m² was $7.76. In the following month the price per m² fell considerably to $5.58. The price for the following two months in (December, January) had a considerable fall of 75 with regard to the previous two months. The price per m² has had a considerable fall of 15 % 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 $5.85 to $0.88 during February, and March.
When referring to the price in Surrey Hills (suburbs), this has fallen considerably in the last 6 months. The average price for October is $7,409. During November the price had a considerable fall till $5,217. During the following two months (December, January) the average price had a considerable fall of 65 % 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 $5,209.5 to $590.5, 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 $571 they are 55 % more affordable than the average price for Surrey Hills . The properties with the highest average price have 4 bedrooms, Their price is 59 % more expensive than the average. After that we have properties with 3 bedrooms priced at $628.
With regard to the average price per m², those properties with 3 bedrooms are the most affordable ones at a cost of $0.73 / m², with an average $0.84 / m² price in Surrey Hills. The properties with the most expensive average prices have 2 bedrooms. They are 17 % more expensive than the average followed by properties with 1 bedroom with a price at $0.79 / m².
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $571 it is 16 % more affordable than the average price in Surrey Hills. "Condo" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "House". At a price of $481 it is 16 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Condo" at an average price of $0.79 / m² followed by "House" priced at $0.93 / m². "House" is the most expensive type of property with a $0.93 / m² value followed by "Condo" with an average price of $0.79 / m².