Property prices for rent in Victoria (British Columbia)
The rent prices in real estate in Victoria, 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 Victoria has had a strong fall during the last 6 months. In October, the average price per sq.feet was $4.92. In the following month the price per sq.feet fell to $4.29. The price for the following two months in (December, January) had a considerable fall of 79 with regard to the previous two months. The price per sq.feet has had a considerable fall of 77 % 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 $4.13 to $3.18 during February, and March.
When referring to the price in Victoria (cities), this has fallen in the last 6 months. In our first sample month during October, the average price is $2,084. In November This price remains at $2,056. In the following two months the average price has hardly changed with regard to the previous two months from $2,070 to $2,085. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 88 %, going from $2,077.5 to $1,827.5 in February and March.
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 $1,674 they are 14 % more expensive than the average price for Victoria. Following this ranking we find those properties with 4 at an average price of $2,101. The properties with the highest average price have 3 bedrooms, Their price is 81 % more expensive than the average. After that we have properties with 2 bedrooms priced at $2,393.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most expensive ones at a cost of $3.1 / sq.feet, with an average $2.92 / sq.feet price in Victoria. The properties with the most expensive average prices have 4 bedrooms. They are 44968 % more expensive than the average followed by properties with 1 bedroom with a price at $3.44 / sq.feet.
The graph displaying the average rent prices displays the property type "Land" as the most expensive one. At an cost of $1,674 it is 8 % more expensive than the average price in Victoria. "Townhouse" is seen as the second most expensive property type. The most expensive property type is "Condo" followed by "House". At a price of $1,903 it is 20 % more expensive than the average price.
According to the average cost per sq.feet, the least affordable property would be "Land" at an average price of $993 / sq.feet followed by "House" priced at $1,002 / sq.feet. "Condo" is the most expensive type of property with a $1,361 / sq.feet value followed by "Townhouse" with an average price of $1,007 / sq.feet.
