The rent prices in real estate in Hamilton, 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 Hamilton has had a strong fall during the last 6 months. In December, the average price per sq.feet was $866.67. In January this price barely changed remaining at $889.62 per sq.feet. The price for the following two months in (February, March) had a considerable fall of 55 with regard to the previous two months. The price per sq.feet has had a considerable fall of 73 % 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 $680.08 to $497.55 during April, and May.
When referring to the price in Hamilton (cities), this has fallen considerably in the last 6 months. In our first sample month during December, the average price is $1,859. In January This price remains at $1,865. During the following two months (February, March) the average price had a considerable fall of 53 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 122 % 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 $1,649 they are 15 % more affordable than the average price for Hamilton . The properties with the highest average price have 3 bedrooms, Their price is 38 % more expensive than the average. After that we have properties with 4 bedrooms priced at $2,172.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1.16 / sq.feet, with an average $432.86 / sq.feet price in Hamilton. The properties with the most affordable average prices have 1 bedroom. They are 100 % more affordable than the average followed by properties with 2 bedrooms with a price at $1.95 / sq.feet.
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of $1,649 it is 9 % more affordable than the average price in Hamilton. "Townhouse" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Condo". At a price of $1,874 it is 25 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Townhouse" at an average price of $1 / sq.feet followed by "Condo" priced at $2.15 / sq.feet. "House" is the most expensive type of property with a $1,212.66 / sq.feet value followed by "Office" with an average price of $886 / sq.feet.