Property prices for rent in Sydney (New South Wales)
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.
