The prices in real estate in Southbank, in the Victoria region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per m² in Southbank has increased during the last 6 months. In May, the average price per m² was $7,647. In the following month the price per m² increased considerably to $11,459. The price for the following two months in (July, August) had a considerable decrease of 83 with regard to the prior two months. The price per m² has decreased 88 % 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 $8,729.5 to $7,653 during September, and October.
Based upon to the price in Southbank (suburbs), this has gone up considerably in the last 6 months. The average price during our first sample month during May, is $584,070. During June the price went through a considerable rise reaching $1,281,875. During the following two months (July, August) the average price had a considerable reduction of 57 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $730,233.5 to $540,938.5, which means a 74 % fall.
The graph showing the average price for bedrooms displays the property with the lowest price has 1 bedroom. It is 0 % cheaper than the average price of $546,061 in Southbank. Based on the bedrooms values, properties with the lowest prices are those with 1 bedroom. They are 0 % more affordable than the average aforementioned.
With regard to the average prices per m² those properties with 1 bedroom are 0 % cheaper than the average price of ($7,282 / m²) in Southbank. Properties with the most affordable price based upon to the number of bedrooms / m² are those with 1 bedroom. They are 0 % cheaper than the average value aforementioned.
With regard to the average price based upon the property in Southbank we can see that the cheapest property type is "Apartment" at a price of $546,061, they are 0 % more affordable than the average price of (!PRECIO2!). "Apartment" has the lowest price. This price is 0 % more affordable than the average price aforementioned.
According to the average area cost by m² the cheapest property type is "Apartment with an average price of $7,282 / m². "Apartment" with an average cost of $7,282 / m² has the lowest price and would be directed at less affluent cities.