The prices in real estate in Inverell, in the New South Wales 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 Inverell has increased strongly during the last 6 months. In September, the average price per m² was $7,613. In the following month the price per m² increased considerably to $9,329. The price for the following two months in (November, December) had a considerable increment of 162 %. The price per m² has had a considerable increase of 156 % 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 $11,106 to $17,373.5 during January, and February.
Based upon to the price in Inverell (suburbs), these have remained the same in the last 6 months. In our first sample month during September, the average price is $306,242. In October This price remains at $296,865. In the following two months the average price has remained the same with regard to the previous two months from $301,553.5 to $314,284. Based on an analysis of the first four prices and the last two months the average price has gone up 110 % during the last two months.
The graph showing the average price for bedrooms displays the property with the lowest price has 3 bedrooms. It is 15 % cheaper than the average price of $299,609 in Inverell. Based on the bedrooms values, properties with the highest prices are those with 4 bedrooms. They are 28 % more expensive than the average aforementioned.
With regard to the average prices per m² those properties with 3 bedrooms are 84 % cheaper than the average price of ($2,923 / m²) in Inverell. Properties with the most expensive price based upon to the number of bedrooms / m² are those with 4 bedrooms. They are 41 % 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 $353,410 it is 58 % cheaper than the average price in Inverell. "House" is seen as the second most affordable property type. The dearest property type is "Acreage" followed by "House". At a price of $329,408 it is 80 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of $935 / m² followed by "Acreage" priced at $23,012 / m². "Land" is the most costly type of property with a $53,979 / m² cost followed by "Acreage" with an average price of $23,012 / m².