Property prices for sale in Port Melbourne (Victoria)

The price per m² in Port Melbourne has increased strongly during the last 6 months. In October, the average price per m² was $832. In the following month the price per m² increased considerably to $1,073. In the following two months the price per m² has barely changed, going from $952.5 to $988.5 per m². The price per m² has had a considerable increase of 350 % 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 $970.5 to $3,397 during February, and March.

Based upon to the price in Port Melbourne (suburbs), this has gone up considerably in the last 6 months. The average price during our first sample month during October, is $366,562. During November the price went through a considerable rise reaching $474,720. During the following two months (December, January) the average price fell 89 % 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 395 % during the last two months.

The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $1,694,500 they are 79 % more affordable than the average price for Port Melbourne. Based on the bedrooms values, properties with the lowest prices are those with 2 bedrooms. They are 75 % more affordable than the average aforementioned.

With regard to the average price per m² , those properties with 2 bedrooms are the cheapest ones at a cost of $773 / m², with an average $2,915 / m² price in Port Melbourne. Properties with the most affordable price based upon to the number of bedrooms / m² are those with 3 bedrooms. They are 31 % cheaper than the average value aforementioned.