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