The prices in real estate in Footscray, in the Victoria region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per m² in Footscray has fallen in the last 6 months. In September, the average price per m² was $832. In the following month the price per m² increased to $901. In the following two months the price per m² has barely changed, going from $866.5 to $850.5 per m². The price per m² has had a considerable deflation of 76 % 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 $858.5 to $654.5 during January, and February.
Based upon to the price in Footscray (suburbs), these have remained the same in the last 6 months. The price in September is $436,919, rising in October till $464,674. In the following two months the average price has remained the same with regard to the previous two months from $450,796.5 to $435,257.5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 86 %, going from $443,027 to $380,369.5 in January and February.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $452,104 they are 50 % more affordable than the average price for Footscray. The properties with the highest average price have 4 bedrooms, Their price is 99 % more costly than the average. After that we have properties with 3 bedrooms priced at $876,538.
With regard to the average price per m² , those properties with 2 bedrooms are the cheapest ones at a cost of $599 / m², with an average $751 / m² price in Footscray. The properties with the highest average prices have 4 bedrooms. They are 75 % more expensive than the average followed by properties with 3 bedrooms with a price at $1,050 / m².