Property prices for sale in Reservoir (Victoria)
The prices in real estate in Reservoir, 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 Reservoir has had a strong decrease during the last 6 months. In October, the average price per m² was $1,891. In the following month the price per m² decreased considerably to $1,011. The price for the following two months in (December, January) had a considerable decrease of 46 with regard to the prior two months. 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 $1,060.25 to $1,472 during February, and March.
Based upon to the price in Reservoir (suburbs), this has gone up in the last 6 months. In our first sample month during October, the average price is $514,333. In November This price remains at $518,800. During the following two months (December, January) the average price fell 88 % 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 131 % 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 $699,265 they are 63 % more affordable than the average price for Reservoir. The properties with the highest average price have 4 bedrooms, Their price is 43 % more costly than the average. After that we have properties with 3 bedrooms priced at $788,318.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of $919 / m², with an average $2,131 / m² price in Reservoir. The properties with the highest average prices have 1 bedroom. They are 33 % more expensive than the average followed by properties with 2 bedrooms with a price at $2,554 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of $699,265 it is 28 % cheaper than the average price in Reservoir. "Condo" is seen as the second most affordable property type. The dearest property type is "House" followed by "Townhouse". At a price of $840,000 it is 28 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Condo" at an average cost of $929 / m² followed by "House" priced at $1,022 / m². "Apartment" is the most costly type of property with a $4,615 / m² cost followed by "Townhouse" with an average price of $4,170 / m².
