The average rent price in the British Columbia region has had a strong fall in recent months. There has been a strong fall in the rent prices in this region.
The price per sq.feet in British Columbia has fallen considerably in the last 6 months. During September, the average price per sq.feet was $22.62. The following month (October) the price had a considerable fall reaching $3.13 per sq.feet. The following two months (November, December) went through a considerable fall of 27 % in the rent price per sq.feet with regard to the previous two. In the last two months, the price per sq.feet has had a significant fall of 41 %. This has been obtained by comparing the price of $8.15 for the first four months of the sample with regard to the previous 4 months and the price of $3.38 per sq.feet for the last two months (January, February).
When referring to the price in British Columbia(region), this has fallen considerably in the last 6 months. September has an average price of $2,889. During Octoberthe price had a slight fall till $2,579. The average price for the following two months (November, December) fell 92 % compared to the previous two. During the last two months the price has had a considerable fall of 80 % with respect to the previous four months going from $2,625.5 a $2,091.5.
The graph displaying the the average rent price per number of bedrooms shows that those with 1 bedroom are the most expensive ones. They are 5 % more costly than the average price in British Columbia followed by those properties with 2 with an average price of $3,009. The most expensive properties have 4 bedrooms. They are 143 % more expensive than the average followed by those properties with 3 bedrooms priced at $3,612.
Based on the average price per sq.feet those properties with 3 bedrooms are the most affordable ones with a price of $3.23 / sq.feet being $3.42 / sq.feet the average for British Columbia. The properties with the highest average price are those with 4 bedrooms. These are 24 % more expensive than the average followed by those with 1 bedroom with a price of $3.83 / sq.feet.
The graph displaying the average rent price according to the property type shows "Condo" as the most affordable one. With an average cost of $2,141 it is 26 % cheaper than the average in British Columbia. This is followed by "Office" with a cost of $1,683. The most expensive property type is "" and is 265 % more costly than the average, followed by "House" with a cost of $2,513.
Based upon the average cost per sq.feet the most affordable property type is "Condo with a an average price of $1.41 / sq.feet, followed by "House" with a price of $3.94 / sq.feet. "Townhouse" with an average price of $584 / sq.feet is the most expensive type of property followed by "Office" at a price of $569 / sq.feet.