The prices in real estate in Ocean Grove, in the Victoria 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 Ocean Grove has had a strong decrease during the last 6 months. In May, the average price per m² was $1,322. In the following month the price per m² decreased considerably to $847. The price for the following two months in (July, August) decreased 93 % with regard to the prior two months. The price per m² has had a considerable deflation of 59 % 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 $1,045.75 to $614.5 during September, and October.
Based upon to the price in Ocean Grove (suburbs), this has fallen considerably in the last 6 months. The average price for May is $740,582. During June the price had a considerable reduction till $546,411. During the following two months (July, August) the price has had an average incrementation from $643,496.5 to $716,174.5. During the last two months the average price has had a strong fall compared to the previous four going from $679,835.5 to $352,833.5, which means a 52 % fall.
The graph showing the average price for bedrooms displays the property with the lowest price has 1 bedroom. It is 0 % cheaper than the average price of $705,667 in Ocean Grove. Based on the bedrooms values, properties with the lowest prices are those with 1 bedroom. They are 0 % more affordable than the average aforementioned.
With regard to the average prices per m² those properties with 1 bedroom are 0 % cheaper than the average price of ($1,229 / m²) in Ocean Grove. Properties with the most affordable price based upon to the number of bedrooms / m² are those with 1 bedroom. They are 0 % cheaper than the average value aforementioned.
With regard to the average price based upon the property in Ocean Grove we can see that the cheapest property type is "House" at a price of $705,667, they are 0 % more affordable than the average price of (!PRECIO2!). "House" has the lowest price. This price is 0 % more affordable than the average price aforementioned.
According to the average area cost by m² the cheapest property type is "House with an average price of $1,229 / m². "House" with an average cost of $1,229 / m² has the lowest price and would be directed at less affluent cities.