The rent prices in real estate in Durban North, in the Kwazulu-natal region have barely changed in the last couple of months. There have hardly been any changes in the rent prices in this city.
The price per m² in Durban North has barely changed in the last 6 months. In October, the average price per m² was R 110,63. In the following month the price per m² rose to R 117,76. In the following two months the price per m² has practically remained the same, going from R 114,19 to R 109,5 per m². The price per m² has risen 108 % 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 111,85 to R 120,26 during February, and March.
When referring to the price in Durban North (cities & towns), this has fallen considerably in the last 6 months. The average price for October is R 23 897. During November the price had a considerable fall till R 17 099. During the following two months (December, January) the average price had a considerable fall of 80 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from R 18 447,75 to R 13 678, which means a 74 % fall.
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 12 406 they are 58 % more affordable than the average price for Durban North . The properties with the highest average price have 4 bedrooms, Their price is 80 % more expensive than the average. After that we have properties with 3 bedrooms priced at R 15 654.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of R 52 / m², with an average R 126,17 / m² price in Durban North. The properties with the most expensive average prices have 1 bedroom. They are 22 % more expensive than the average followed by properties with 2 bedrooms with a price at R 119 / m².
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of R 12 406 it is 22 % more affordable than the average price in Durban North. "Flat" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Townhouse". At a price of R 13 040 it is 12 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Flat" at an average price of R 73 / m² followed by "House" priced at R 86 / m². "Apartment" is the most affordable type of property with a R 108 / m² value followed by "Commercial" with an average price of R 102 / m².