The prices in real estate in Balwyn, 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 Balwyn has increased strongly during the last 6 months. In October, the average price per m² was $800. In the following month the price per m² increased to $901. The price for the following two months in (December, January) had a considerable increment of 116 %. The price per m² has had a considerable increase of 317 % 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 $919.5 to $2,912 during February, and March.
Based upon to the price in Balwyn (suburbs), this has gone up considerably in the last 6 months. The price in October is $862,500, rising in November till $909,147. During the following two months (December, January) the average price had a considerable reduction of 83 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 171 % during the last two months.