The rent prices in real estate in Richmond, in the British Columbia region have risen considerably in the last couple of months. There has been a strong rise in the rent prices this city.
The price per sq.feet in Richmond has risen strongly during the last 6 months. In October, the average price per sq.feet was $4.31. In November this price barely changed remaining at $4.49 per sq.feet. In the following two months the price per sq.feet has practically remained the same, going from $4.4 to $4.36 per sq.feet. The price per sq.feet has had a considerable rise of 169 % 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 $4.38 to $7.41 during February, and March.
When referring to the price in Richmond (cities), there have hardly been any changes in the last 6 months. In our first sample month during October, the average price is $2,627. In November This price remains at $2,755. In the following two months the average price has hardly changed with regard to the previous two months from $2,691 to $2,743.5. During the last two months, the average price has barely gone through any changes with regard to the previous average values going from an average value of $2,717.25 and $2,635 between February and March.
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 $2,600 they are 17 % more affordable than the average price for Richmond . The properties with the highest average price have 4 bedrooms, Their price is 96 % more expensive than the average. After that we have properties with 3 bedrooms priced at $3,824.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $2 / sq.feet, with an average $9.74 / sq.feet price in Richmond. The properties with the most expensive average prices have 3 bedrooms. They are 36 % more expensive than the average followed by properties with 2 bedrooms with a price at $13.17 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $2,600 it is 0 % more affordable than the average price in Richmond. "" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "". At a price of $3,215 it is 45 % 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 / sq.feet followed by "House" priced at $5 / sq.feet. "House" is the most affordable type of property with a $5 / sq.feet value followed by "Condo" with an average price of $2 / sq.feet.