The rent prices in real estate in Despatch, in the Eastern Cape 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 m² in Despatch has had a strong fall during the last 6 months. In October, the average price per m² was R 1 699. In the following month the price per m² rose considerably to R 2 759. The price for the following two months in (December, January) had a considerable fall of 2 with regard to the previous two months. The price per m² has had a considerable fall of 38 % 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 1 136,5 to R 437 during February, and March.
When referring to the price in Despatch (cities & towns), this has fallen in the last 6 months. In our first sample month during October, the average price is R 7 329. In November This price remains at R 7 043. During the following two months (December, January) the average price had a considerable fall of 76 % 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 increased 112 % during the last two months.
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 R 7 332 they are 9 % more affordable than the average price for Despatch . The properties with the highest average price have 2 bedrooms, Their price is 100 % more expensive than the average. After that we have properties with 4 bedrooms priced at R 14 578.
With regard to the average prices per m² those properties with 1 bedroom are 133620 % more expensive than the average price of (R 6 686 / m²) in Despatch. Properties with the most expensive price when referring to the number of bedrooms / m² are those with 1 bedroom. They are 133620 % more expensive than the average value aforementioned.
According to average price per property type in Despatch, "" priced at R 14 578 is 99 % more expensive than the average price (R 7 332) in this city.