The rent prices in real estate in Kitchener, 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 Kitchener has had a strong fall during the last 6 months. In September, the average price per sq.feet was $106.48. In the following month the price per sq.feet fell considerably to $3.65. The price for the following two months in (November, December) had a considerable fall of 5 with regard to the previous two months. The price per sq.feet has had a considerable fall of 10 % 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 $28.9 to $2.77 during January, and February.
When referring to the price in Kitchener (cities), this has fallen in the last 6 months. In our first sample month during September, the average price is $2,439. In October This price remains at $2,362. In the following two months the average price has hardly changed with regard to the previous two months from $2,400.5 to $2,285. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 93 %, going from $2,342.75 to $2,187.5 in January and February.
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 $2,204 they are 11 % more affordable than the average price for Kitchener . The properties with the highest average price have 4 bedrooms, Their price is 40 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,577.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1.77 / sq.feet, with an average $2.7 / sq.feet price in Kitchener. The properties with the most expensive average prices have 1 bedroom. They are 12 % more expensive than the average followed by properties with 2 bedrooms with a price at $2.66 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $2,204 it is 47 % more affordable than the average price in Kitchener. "House" is seen as the second most affordable property type. The most expensive property type is "Townhouse" followed by "Condo". At a price of $2,215 it is 2 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Condo" at an average price of $2.09 / sq.feet followed by "Townhouse" priced at $2.3 / sq.feet. "House" is the most expensive type of property with a $2.75 / sq.feet value followed by "Townhouse" with an average price of $2.3 / sq.feet.