Property prices for sale in Geelong (Victoria)
The prices in real estate in Geelong, 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 Geelong has increased strongly during the last 6 months. In October, the average price per m² was $898. In the following month the price per m² increased to $960. In the following two months the price per m² has increased 111 %, going from $929 to $1,033.5 per m². The price per m² has had a considerable increase of 299 % 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 $981.25 to $2,937 during February, and March.
Based upon to the price in Geelong (suburbs), this has gone up in the last 6 months. The price in October is $678,376, rising in November till $749,032. During the following two months (December, January) the price has had an average incrementation from $713,704 to $801,177.5. 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 $757,440.75 to $650,021 in February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $876,167 they are 42 % more affordable than the average price for Geelong. The properties with the highest average price have 4 bedrooms, Their price is 21 % more costly than the average. After that we have properties with 3 bedrooms priced at $898,638.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of $948 / m², with an average $4,393 / m² price in Geelong. The properties with the lowest average prices have 1 bedroom. They are 60 % cheaper than the average followed by properties with 2 bedrooms with a price at $1,228 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of $876,167 it is 21 % cheaper than the average price in Geelong. "House" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Apartment". At a price of $688,880 it is 6 % more affordable than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of $867 / m² followed by "Apartment" priced at $1,225 / m². "Apartment" is the cheapest type of property with a $1,225 / m² value followed by "House" with an average price of $867 / m².
