The prices in real estate in Russell Island, 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 Russell Island has increased strongly during the last 6 months. In September, the average price per m² was $116. In the following month the price per m² decreased considerably to $95. In the following two months the price per m² has increased 109 %, going from $105.5 to $115.5 per m². The price per m² has had a considerable increase of 452 % 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 $110.5 to $500 during January, and February.
Based upon to the price in Russell Island (suburbs), this has gone up considerably in the last 6 months. The average price for September is $160,437. During October the price had a slight fall till $148,094. In the following two months the average price has remained the same with regard to the previous two months from $154,265.5 to $155,881.5. Based on an analysis of the first four prices and the last two months the average price has risen strongly 202 % 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 $330,820 they are 3 % more affordable than the average price for Russell Island. The properties with the highest average price have 4 bedrooms, Their price is 36 % more costly than the average. After that we have properties with 3 bedrooms priced at $362,674.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of $428 / m², with an average $571 / m² price in Russell Island. The properties with the highest average prices have 1 bedroom. They are 64 % more expensive than the average followed by properties with 2 bedrooms with a price at $668 / m².
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $330,820 it is 68 % cheaper than the average price in Russell Island. "Vacant Land" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Vacant Land". At a price of $125,909 it is 50 % more affordable than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of $133 / m² followed by "Vacant Land" priced at $147 / m². "Land" is the cheapest type of property with a $157 / m² value followed by "Vacant Land" with an average price of $147 / m².