The prices in real estate in Sydney, in the New South Wales 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 Sydney has had a strong decrease during the last 6 months. In July, the average price per m² was $4,121. In the following month the price per m² decreased to $3,779. The price for the following two months in (September, October) decreased 86 % with regard to the prior two months. The price per m² has had a considerable deflation of 77 % 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 $3,679.5 to $2,817.5 during November, and December.
Based upon to the price in Sydney (suburbs), these have remained the same in the last 6 months. In our first sample month during July, the average price is $690,846. In August This price remains at $715,420. In the following two months the average price has remained the same with regard to the previous two months from $703,133 to $705,727.5. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $704,430.25 and $693,994 between November and December.
The graph displaying the average price for bedrooms illustrates that those properties with 3 bedrooms are the cheapest ones. At a price of $687,488 they are 1 % more affordable than the average price for Sydney. The properties with the highest average price have 2 bedrooms, Their price is 8 % more costly than the average. After that we have properties with 4 bedrooms priced at $729,673.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of $1,687 / m², with an average $2,979 / m² price in Sydney. The properties with the highest average prices have 1 bedroom. They are 267 % more expensive than the average followed by properties with 2 bedrooms with a price at $6,268 / m².
The graph displaying the average prices displays the property type "Villa" as the most affordable one. At an cost of $687,488 it is 27 % cheaper than the average price in Sydney. "Apartment" is seen as the second most affordable property type. The dearest property type is "Townhouse" followed by "Office". At a price of $747,898 it is 23 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of $1,939 / m² followed by "Villa" priced at $3,365 / m². "Apartment" is the most costly type of property with a $6,590 / m² cost followed by "Townhouse" with an average price of $4,504 / m².