The rent prices in real estate in Fergus, in the Ontario 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 Fergus has had a strong fall during the last 6 months. In October, the average price per sq.feet was $3.87. In November this price barely changed remaining at $3.82 per sq.feet. The price for the following two months in (December, January) fell 94 % with regard to the previous two months. The price per sq.feet has had a considerable fall of 66 % 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 $3.72 to $2.46 during February, and March.
When referring to the price in Fergus (cities), there have hardly been any changes in the last 6 months. In our first sample month during October, the average price is $2,016. In November This price remains at $1,939. In the following two months the average price has hardly changed with regard to the previous two months from $1,977.5 to $1,892. Based on an analysis of the first four prices and the last two months the average price has increased 112 % during the last two months.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of $2,267 they are 23 % more affordable than the average price for Fergus . The properties with the highest average price have 4 bedrooms, Their price is 25 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,549.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1.56 / sq.feet, with an average $2.27 / sq.feet price in Fergus. The properties with the most expensive average prices have 3 bedrooms. They are 59 % more expensive than the average followed by properties with 1 bedroom with a price at $2.76 / sq.feet.
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of $2,267 it is 13 % more affordable than the average price in Fergus. "Condo" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Condo". At a price of $2,467 it is 20 % 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 $1.74 / sq.feet followed by "Condo" priced at $2.01 / sq.feet. "Apartment" is the most expensive type of property with a $3.6 / sq.feet value followed by "Condo" with an average price of $2.01 / sq.feet.