The prices in real estate in Ballarat, in the Victoria region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per m² in Ballarat has increased strongly during the last 6 months. In September, the average price per m² was $990. In the following month the price per m² increased considerably to $1,923. The price for the following two months in (November, December) had a considerable decrease of 78 with regard to the prior two months. The price per m² has had a considerable deflation of 85 % 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 $1,293.25 to $1,094 during January, and February.
Based upon to the price in Ballarat (suburbs), these have remained the same in the last 6 months. In our first sample month during September, the average price is $288,140. In October This price remains at $279,652. During the following two months (November, December) the price has had an average incrementation from $283,896 to $301,553.5. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $292,724.75 and $295,512.5 between January and February.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $289,912 they are 13 % more affordable than the average price for Ballarat. Based on the bedrooms values, properties with the highest prices are those with 4 bedrooms. They are 44 % more expensive than the average aforementioned.
With regard to the average price per m² , those properties with 2 bedrooms are the cheapest ones at a cost of $722 / m², with an average $1,106 / m² price in Ballarat. Properties with the most expensive price based upon to the number of bedrooms / m² are those with 4 bedrooms. They are 39 % more costly than the average value aforementioned.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $289,912 it is 52 % cheaper than the average price in Ballarat. "House" is seen as the second most affordable property type. The dearest property type is "House" followed by "Land". At a price of $139,833 it is 19 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Land" at an average cost of $262 / m² followed by "House" priced at $659 / m². "House" is the cheapest type of property with a $659 / m² value followed by "Land" with an average price of $262 / m².