Property prices for rent in Otago region
The average rent price in the Otago region has had an strong rise in recent months. There has been a strong rise in the rent prices in this region.
The price per m² in Otago has risen considerably in the last 6 months. During October, the average price per m² was $3.16. In November the price barely changed remaining at $3.29 per m². The following two months (December, January) went through a rise of 115 % in the rent price per m² rising from $3.22 to $3.69 per m². In the last two months, the price per m² has had a significant rise of 120 %. This has been obtained by comparing the price of $3.46 for the first four months of the sample with regard to the previous 4 months and the price of $4.16 per m² for the last two months (February, March).
When referring to the price in Otago(region), there have hardly been any changes in the last 6 months. The average rent price in October is $526. In November the price rose to $560. In the following two months the average price practically remained the same compared to the previous two going from $543 to $550.5. During the last two months the average price has not gone through any changes and has gone from $546.75 to $528 during February and March.
The graph displaying the the average rent price per number of bedrooms shows that those with 2 bedrooms are the most affordable ones. They are 8 % cheaper than the average price in Otago followed by those with 3 with an average price of $518. The most expensive properties have 1 bedroom. They are 835 % more expensive than the average followed by those properties with 4 bedrooms priced at $800.
Based on the average price per m² those properties with 4 bedrooms are the most affordable ones with a price of $2.72 / m² being $4.16 / m² the average for Otago. The properties with the highest average price are those with 1 bedroom. These are 30 % more expensive than the average followed by those with 2 bedrooms with a price of $4.79 / m².
The graph displaying the average rent price according to the property type shows "" as the most affordable one. With an average cost of $508 it is 6 % cheaper than the average in Otago. This is followed by "House" with a cost of $513. The most expensive property type is "House" and is 1 % more costly than the average, followed by "" with a cost of $477.
Based upon the average price per m², the most expensive property type is "House with an average cost of $4.21 / m². "House" which has the highest average price of $4.21 / m² would be present in a more affluent region.
