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 December, the average price per m² was $3.54. In the following month the price per m² fell to $3.31. The price for the following two months in (February, March) had a considerable rise of 178 %. The price per m² has had a considerable rise of 147 % 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 $4.76 to $6.99 during April, and May.
When referring to the price in Sydney (suburbs), there have hardly been any changes in the last 6 months. In our first sample month during December, the average price is $713. In January This price remains at $707. In the following two months the average price has hardly changed with regard to the previous two months from $710 to $705. During the last two months, the average price has barely gone through any changes with regard to the previous average values going from an average value of $707.5 and $728.5 between April and May.
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 $750 they are 15 % more affordable than the average price for Sydney . The properties with the highest average price have 4 bedrooms, Their price is 35 % more expensive than the average. After that we have properties with 2 bedrooms priced at $717.
With regard to the average price per m², those properties with 3 bedrooms are the most affordable ones at a cost of $1.9 / m², with an average $6.18 / m² price in Sydney. The properties with the most expensive average prices have 1 bedroom. They are 36 % more expensive than the average followed by properties with 2 bedrooms with a price at $5.44 / m².
The graph displaying the average rent prices displays the property type "Villa" as the most affordable one. At an cost of $750 it is 13 % more affordable than the average price in Sydney. "House" is seen as the second most affordable property type. The most expensive property type is "Studio" followed by "Office". At a price of $1,187 it is 1261 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Apartment" at an average price of $1.72 / m² followed by "House" priced at $7.66 / m². "Studio" is the most expensive type of property with a $145 / m² value followed by "Villa" with an average price of $21.05 / m².