The prices in real estate in Parramatta, 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 Parramatta has increased strongly during the last 6 months. In December, the average price per m² was $2,777. In the following month the price per m² increased to $2,965. The price for the following two months in (February, March) had a considerable increment of 121 %. The price per m² has increased 106 % 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 $3,177.25 to $3,373.5 during April, and May.
Based upon to the price in Parramatta (suburbs), this has gone up in the last 6 months. In our first sample month during December, the average price is $724,136. In January This price remains at $759,579. During the following two months (February, March) the price has had an average incrementation from $741,857.5 to $829,016.5. 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 $785,437 and $777,312.5 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 $752,088 they are 29 % more affordable than the average price for Parramatta. The properties with the highest average price have 3 bedrooms, Their price is 12 % more costly than the average. After that we have properties with 4 bedrooms priced at $726,586.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of $1,584 / m², with an average $3,154 / m² price in Parramatta. The properties with the highest average prices have 2 bedrooms. They are 68 % more expensive than the average followed by properties with 1 bedroom with a price at $4,907 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of $752,088 it is 2 % cheaper than the average price in Parramatta. "House" is seen as the second most affordable property type. The dearest property type is "House" followed by "Apartment". At a price of $740,666 it is 8 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of $1,867 / m² followed by "Apartment" priced at $6,386 / m². "Apartment" is the most costly type of property with a $6,386 / m² cost followed by "House" with an average price of $1,867 / m².