The prices in real estate in Southbank, 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 Southbank has had a strong decrease during the last 6 months. In November, the average price per m² was $7,471. In December this price pretty much remained the same at a value of $7,392 per m². In the following two months the price per m² has barely changed, going from $7,431.5 to $7,467.5 per m². The price per m² has had a considerable deflation of 54 % 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 $7,449.5 to $4,024.5 during March, and April.
Based upon to the price in Southbank (suburbs), this has gone downing the last 6 months. In our first sample month during November, the average price is $538,208. In December This price remains at $542,075. During the following two months (January, February) the price has had an average incrementation from $540,141.5 to $579,743.5. During the last two months the average price has had a strong fall compared to the previous four going from $559,942.5 to $296,897.5, which means a 53 % 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 $593,795 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 ($8,049 / 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 $593,795, 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 $8,049 / m². "Apartment" with an average cost of $8,049 / m² has the lowest price and would be directed at less affluent cities.