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 July, the average price per m² was $177.48. In the following month the price per m² fell considerably to $29.95. The price for the following two months in (September, October) had a considerable fall of 14 with regard to the previous two months. The price per m² has had a considerable fall of 25 % 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 $58.97 to $14.75 during November, and December.
When referring to the price in Sydney (suburbs), this has fallen considerably in the last 6 months. The average price for July is $3,836. During August the price had a considerable fall till $1,895. During the following two months (September, October) the average price had a considerable fall of 35 % 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 $1,928.25 to $873.5, which means a 45 % fall.
The graph displaying the average rent price for bedrooms illustrates that those properties with 4 bedrooms are the most affordable ones. At a price of $836 they are 19 % more affordable than the average price for Sydney . The properties with the highest average price have 3 bedrooms, Their price is 95 % more expensive than the average. After that we have properties with 2 bedrooms priced at $1,180.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of $3 / m², with an average $11.7 / m² price in Sydney. The properties with the most expensive average prices have 1 bedroom. They are 66 % more expensive than the average followed by properties with 3 bedrooms with a price at $13.58 / m².
The graph displaying the average rent prices displays the property type "Studio" as the most affordable one. At an cost of $836 it is 51 % 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 $4,347 it is 1204 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Apartment" at an average price of $5 / m² followed by "House" priced at $8 / m². "Office" is the most expensive type of property with a $143 / m² value followed by "Retail" with an average price of $90 / m².