The prices in real estate in Melbourne, in the Victoria region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per m² in Melbourne has increased during the last 6 months. In December, the average price per m² was $1,044. In January this price pretty much remained the same at a value of $1,070 per m². In the following two months the price per m² has barely changed, going from $1,057 to $1,088.5 per m². The price per m² has increased 105 % 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 $1,072.75 to $1,131 during April, and May.
Based upon to the price in Melbourne (suburbs), these have remained the same in the last 6 months. In our first sample month during December, the average price is $474,494. In January This price remains at $473,782. In the following two months the average price has remained the same with regard to the previous two months from $474,138 to $478,762. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $476,450 and $496,422.5 between April and May.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $496,477 they are 10 % more affordable than the average price for Melbourne. The properties with the highest average price have 4 bedrooms, Their price is 9 % more costly than the average. After that we have properties with 2 bedrooms priced at $499,461.
With regard to the average price per m² , those properties with 4 bedrooms are the most costly ones at a cost of $1,119 / m², with an average $1,112 / m² price in Melbourne. The properties with the highest average prices have 1 bedroom. They are 658 % more expensive than the average followed by properties with 2 bedrooms with a price at $3,663 / m².
The graph displaying the average prices displays the property type "Office" as the most affordable one. At an cost of $496,477 it is 65 % cheaper than the average price in Melbourne. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Apartment". At a price of $503,164 it is 4 % more expensive than the average price.
According to the average cost per m², the most expensive property type would be "House" at an average cost of $1,123 / m² followed by "Office" priced at $4,857 / m². "Apartment" is the most costly type of property with a $5,801 / m² cost followed by "Office" with an average price of $4,857 / m².