The rent prices in real estate in Wendouree, in the Victoria 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 Wendouree has had a strong fall during the last 6 months. In October, the average price per m² was $3.53. In the following month the price per m² fell considerably to $2.94. The price for the following two months in (December, January) had a considerable fall of 66 with regard to the previous two months. The price per m² has had a considerable fall of 18 % 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 $2.68 to $0.49 during February, and March.
When referring to the price in Wendouree (suburbs), this has fallen considerably in the last 6 months. In our first sample month during October, the average price is $3,566. In November This price remains at $3,447. During the following two months (December, January) the average price had a considerable fall of 68 % 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 $2,948.25 to $366.5, which means a 12 % 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 $365 they are 22 % more affordable than the average price for Wendouree . The properties with the highest average price have 4 bedrooms, Their price is 9 % more expensive than the average. After that we have properties with 3 bedrooms priced at $380.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of $0.35 / m², with an average $0.49 / m² price in Wendouree. The properties with the most expensive average prices have 1 bedroom. They are 71 % more expensive than the average followed by properties with 2 bedrooms with a price at $0.65 / m².
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of $365 it is 19 % more affordable than the average price in Wendouree. "House" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Apartment". At a price of $297 it is 3 % more expensive than the average price.
According to the average cost per m², the most affordable property is "House" at an average price of $0.46 / m² followed by "Apartment" priced at $0.73 / m². "Apartment" is the most expensive type of property with a $0.73 / m² value followed by "House" with an average price of $0.46 / m².