The prices in real estate in Inverell, in the New South Wales region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per m² in Inverell has had a strong decrease during the last 6 months. In December, the average price per m² was $16,537. In January this price pretty much remained the same at a value of $16,853 per m². The price for the following two months in (February, March) had a considerable decrease of 83 with regard to the prior two months. The price per m² has had a considerable deflation of 32 % 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 $15,283 to $4,887.5 during April, and May.
Based upon to the price in Inverell (suburbs), this has gone up in the last 6 months. In our first sample month during December, the average price is $317,954. In January This price remains at $326,924. During the following two months (February, March) the price has had an average incrementation from $322,439 to $356,164.5. Based on an analysis of the first four prices and the last two months the average price has gone up 108 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $379,263 they are 44 % more affordable than the average price for Inverell. The properties with the highest average price have 1 bedroom, Their price is 40 % more costly than the average. After that we have properties with 4 bedrooms priced at $394,538.
With regard to the average price per m² , those properties with 2 bedrooms are the cheapest ones at a cost of $231 / m², with an average $3,358 / m² price in Inverell. The properties with the highest average prices have 3 bedrooms. They are 69 % more expensive than the average followed by properties with 4 bedrooms with a price at $5,217 / m².
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $379,263 it is 68 % 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 $331,313 it is 34 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of $379 / m² followed by "Acreage" priced at $56,426 / m². "Land" is the most costly type of property with a $76,227 / m² cost followed by "Acreage" with an average price of $56,426 / m².