The prices in real estate in Meyerton, in the Gauteng region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per m² in Meyerton has had a strong decrease during the last 6 months. In October, the average price per m² was R 6 081. In the following month the price per m² increased to R 6 388. The price for the following two months in (December, January) had a considerable decrease of 66 with regard to the prior two months. The price per m² has had a considerable deflation of 64 % 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 5 175 to R 3 294 during February, and March.
Based upon to the price in Meyerton (cities & towns), these have remained the same in the last 6 months. In our first sample month during October, the average price is R 1 447 150. In November This price remains at R 1 386 499. In the following two months the average price has remained the same with regard to the previous two months from R 1 416 824,5 to R 1 457 011,5. Based on an analysis of the first four prices and the last two months the average price has gone up 106 % 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 1 676 201 they are 63 % more affordable than the average price for Meyerton. The properties with the highest average price have 4 bedrooms, Their price is 51 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 405 959.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of R 2 104 / m², with an average R 3 275 / m² price in Meyerton. The properties with the highest average prices have 2 bedrooms. They are 68 % more expensive than the average followed by properties with 1 bedroom with a price at R 5 244 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 1 676 201 it is 65 % cheaper than the average price in Meyerton. "Land" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Farm". At a price of R 2 397 717 it is 166 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Land" at an average cost of R 1 065 / m² followed by "House" priced at R 5 167 / m². "Commercial" is the most costly type of property with a R 4 451 715 / m² cost followed by "Farm" with an average price of R 2 397 717 / m².