The prices in real estate in Germiston, in the Gauteng region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per m² in Germiston has fallen in the last 6 months. In October, the average price per m² was R 8 792. In November this price pretty much remained the same at a value of R 8 837 per m². In the following two months the price per m² has barely changed, going from R 8 814,5 to R 8 724 per m². The price per m² has had a considerable deflation of 80 % 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 m² of R 8 769,25 to R 6 998,5 during February, and March.
Based upon to the price in Germiston (cities & towns), this has gone up considerably in the last 6 months. The price in October is R 1 561 050, rising in November till R 1 728 206. During the following two months (December, January) the average price had a considerable increase of 115 % 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 gone up 113 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 2 282 887 they are 68 % more affordable than the average price for Germiston. The properties with the highest average price have 4 bedrooms, Their price is 82 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 671 350.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 3 866 / m², with an average R 6 172 / m² price in Germiston. The properties with the highest average prices have 1 bedroom. They are 78 % more expensive than the average followed by properties with 2 bedrooms with a price at R 10 210 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 2 282 887 it is 56 % cheaper than the average price in Germiston. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Office" followed by "Commercial". At a price of R 10 240 000 it is 499 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of R 4 078 / m² followed by "Commercial" priced at R 6 481 / m². "Office" is the most costly type of property with a R 13 318 452 / m² cost followed by "Flat" with an average price of R 15 806 / m².