The prices in real estate in Paddington, in the Queensland 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 Paddington has increased strongly during the last 6 months. In October, the average price per m² was $462. In the following month the price per m² increased to $529. The price for the following two months in (December, January) had a considerable increment of 194 %. The price per m² has had a considerable increase of 139 % 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 $728.25 to $1,010 during February, and March.
Based upon to the price in Paddington (suburbs), this has gone up considerably in the last 6 months. The price in October is $298,567, rising in November till $326,113. During the following two months (December, January) the average price had a considerable increase of 225 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 141 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 4 bedrooms are the cheapest ones. At a price of $252,853 they are 96 % more affordable than the average price for Paddington. The properties with the highest average price have 1 bedroom, Their price is 193 % more costly than the average. After that we have properties with 3 bedrooms priced at $654,345.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of $8 / m², with an average $445 / m² price in Paddington. The properties with the highest average prices have 1 bedroom. They are 396 % more expensive than the average followed by properties with 2 bedrooms with a price at $774 / m².
With regard to the average price based upon the property in Paddington we can see that the cheapest property type is "Apartment" at a price of $82,417, they are 67 % more affordable than the average price of (!PRECIO2!). "Apartment" has the lowest price. This price is 67 % more affordable than the average price aforementioned.
According to the average area cost by m² the cheapest property type is "Apartment with an average price of $24 / m². "Apartment" with an average cost of $24 / m² has the lowest price and would be directed at less affluent cities.