The prices in real estate in Sydney, in the New South Wales 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 Sydney has increased strongly during the last 6 months. In September, the average price per m² was $4,002. In the following month the price per m² increased to $4,401. The price for the following two months in (November, December) had a considerable increment of 205 %. The price per m² has had a considerable increase of 136 % 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 $6,412 to $8,707 during January, and February.
Based upon to the price in Sydney (suburbs), this has gone up considerably in the last 6 months. In our first sample month during September, the average price is $773,477. In October This price remains at $771,824. During the following two months (November, December) the average price had a considerable increase of 129 % with regard to the previous two months. 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 $884,867.75 and $895,910.5 between January and February.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $858,283 they are 18 % more affordable than the average price for Sydney. The properties with the highest average price have 3 bedrooms, Their price is 42 % more costly than the average. After that we have properties with 2 bedrooms priced at $917,556.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of $1,296 / m², with an average $9,148 / m² price in Sydney. The properties with the highest average prices have 3 bedrooms. They are 19 % more expensive than the average followed by properties with 1 bedroom with a price at $10,555 / m².
The graph displaying the average prices displays the property type "Retail" as the most affordable one. At an cost of $858,283 it is 42 % cheaper than the average price in Sydney. "Townhouse" is seen as the second most affordable property type. The dearest property type is "House" followed by "Office". At a price of $846,639 it is 7 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Retail" at an average cost of $3,329 / m² followed by "Townhouse" priced at $3,977 / m². "Apartment" is the most costly type of property with a $10,438 / m² cost followed by "Office" with an average price of $4,509 / m².