The rent prices in real estate in Burnaby, in the British Columbia region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per sq.feet in Burnaby has had a strong fall during the last 6 months. In September, the average price per sq.feet was $4.79. In the following month the price per sq.feet fell to $4.16. The price for the following two months in (November, December) fell 89 % with regard to the previous two months. The price per sq.feet has had a considerable fall of 76 % 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 sq.feet of $4.24 to $3.23 during January, and February.
When referring to the price in Burnaby (cities), this has fallen in the last 6 months. The average price for September is $2,661. During October the price had a slight fall till $2,378. In the following two months the average price has hardly changed with regard to the previous two months from $2,519.5 to $2,567. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 87 %, going from $2,543.25 to $2,201 in January and February.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most expensive ones. At a price of $2,264 they are 2 % more expensive than the average price for Burnaby. Following this ranking we find those properties with 2 at an average price of $3,156. The properties with the highest average price have 4 bedrooms, Their price is 105 % more expensive than the average. After that we have properties with 3 bedrooms priced at $3,800.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $2.5 / sq.feet, with an average $3.38 / sq.feet price in Burnaby. The properties with the most expensive average prices have 2 bedrooms. They are 53 % more expensive than the average followed by properties with 1 bedroom with a price at $4.97 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $2,264 it is 42 % more affordable than the average price in Burnaby. "Condo" is seen as the second most affordable property type. The most expensive property type is "" followed by "Condo". At a price of $2,749 it is 22 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "House" at an average price of $1.45 / sq.feet followed by "Condo" priced at $4.26 / sq.feet. "Condo" is the most expensive type of property with a $4.26 / sq.feet value followed by "House" with an average price of $1.45 / sq.feet.