The prices in real estate in Reservoir, in the Victoria 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 Reservoir has increased strongly during the last 6 months. In January, the average price per m² was $1,402. In the following month the price per m² increased to $1,524. In the following two months the price per m² has increased 113 %, going from $1,463 to $1,658.5 per m². The price per m² has had a considerable increase of 132 % 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 $1,560.75 to $2,065 during May, and June.
Based upon to the price in Reservoir (suburbs), these have remained the same in the last 6 months. In our first sample month during January, the average price is $780,500. In February This price remains at $793,441. In the following two months the average price has remained the same with regard to the previous two months from $786,970.5 to $823,593. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 89 %, going from $805,281.75 to $717,655.5 in May and June.
The graph showing the average price for bedrooms displays the property with the lowest price has 1 bedroom. It is 16 % cheaper than the average price of $564,509 in Reservoir. Based on the bedrooms values, properties with the lowest prices are those with 1 bedroom. They are 16 % more affordable than the average aforementioned.
With regard to the average prices per m² those properties with 1 bedroom are 91 % more costly than the average price of ($4,339 / m²) in Reservoir. Properties with the most expensive price based upon to the number of bedrooms / m² are those with 1 bedroom. They are 91 % more costly than the average value aforementioned.
With regard to the average price based upon the property in Reservoir we can see that the cheapest property type is "House" at a price of $564,509, they are 16 % more affordable than the average price of (!PRECIO2!). "House" has the lowest price. This price is 16 % more affordable than the average price aforementioned.
According to the average area price by m² the most costly property type is "House with an average price of $4,339 / m². "House" at an average price of $4,339 / m² has the most expensive price and would be directed at more affluent cities.