The rent prices in real estate in Sydney, in the New South Wales 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 Sydney has had a strong fall during the last 6 months. In February, the average price per m² was $368.4. In the following month the price per m² fell considerably to $293.03. The price for the following two months in (April, May) had a considerable fall of 56 with regard to the previous two months. The price per m² has had a considerable fall of 83 % 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 $257.3 to $213.75 during June, and July.
When referring to the price in Sydney (suburbs), this has fallen considerably in the last 6 months. The average price for February is $7,642. During March the price had a considerable fall till $5,706. During the following two months (April, May) the average price had a considerable fall of 56 % 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 $5,196.25 to $4,247, which means a 82 % 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 $3,836 they are 85 % more affordable than the average price for Sydney . The properties with the lowest average price have 4 bedrooms, Their price is 70 % more affordable than the average. After that we have properties with 2 bedrooms priced at $664.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of $2.23 / m², with an average $177.48 / m² price in Sydney. The properties with the most affordable average prices have 1 bedroom. They are 96 % more affordable than the average followed by properties with 2 bedrooms with a price at $6.91 / m².
The graph displaying the average rent prices displays the property type "Studio" as the most affordable one. At an cost of $3,836 it is 89 % more affordable than the average price in Sydney. "House" is seen as the second most affordable property type. The most expensive property type is "Retail" followed by "Office". At a price of $4,808 it is 186 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Apartment" at an average price of $3.62 / m² followed by "House" priced at $7.68 / m². "Office" is the most expensive type of property with a $205.77 / m² value followed by "Retail" with an average price of $95 / m².