The rent prices in real estate in Sydney, in the New South Wales 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 Sydney has risen strongly during the last 6 months. In July, the average price per m² was $264.4. In the following month the price per m² rose considerably to $337.63. The price for the following two months in (September, October) fell 94 % with regard to the previous two months. The price per m² has had a considerable rise of 204 % 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 $292.09 to $597.28 during November, and December.
When referring to the price in Sydney (suburbs), this has risen considerably in the last 6 months. In our first sample month during July, the average price is $6,844. In August This price remains at $7,129. In the following two months the average price has hardly changed with regard to the previous two months from $6,986.5 to $6,669. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 167 % 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 $10,444 they are 95 % more affordable than the average price for Sydney . The properties with the lowest average price have 2 bedrooms, Their price is 92 % more affordable than the average. After that we have properties with 4 bedrooms priced at $731.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of $1.96 / m², with an average $606.4 / m² price in Sydney. The properties with the most affordable average prices have 1 bedroom. They are 99 % more affordable than the average followed by properties with 2 bedrooms with a price at $7.59 / m².
The graph displaying the average rent prices displays the property type "Villa" as the most affordable one. At an cost of $10,444 it is 96 % more affordable than the average price in Sydney. "Townhouse" is seen as the second most affordable property type. The most expensive property type is "Office" followed by "Apartment". At a price of $732 it is 36 % more expensive than the average price.
According to the average cost per m², the most affordable property is "House" at an average price of $3.65 / m² followed by "Villa" priced at $7 / m². "Office" is the most expensive type of property with a $819.75 / m² value followed by "Townhouse" with an average price of $30 / m².