The rent prices in real estate in Greenstone Hill, in the Gauteng 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 Greenstone Hill has had a strong fall during the last 6 months. In September, the average price per m² was R 5 048. In the following month the price per m² fell considerably to R 89. The price for the following two months in (November, December) had a considerable fall of 4 with regard to the previous two months. The price per m² has had a considerable rise of 589 % 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 1 341,1 to R 7 899,5 during January, and February.
When referring to the price in Greenstone Hill (cities & towns), this has fallen considerably in the last 6 months. The average price for September is R 166 666. During October the price had a considerable fall till R 20 291. During the following two months (November, December) the average price had a considerable fall of 15 % 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 53 644,25 to R 13 281, which means a 25 % fall.
The graph displaying the average rent price for bedrooms illustrates that those properties with 2 bedrooms are the most affordable ones. At a price of R 16 839 they are 38 % more affordable than the average price for Greenstone Hill . The properties with the highest average price have 1 bedroom, Their price is 11 % more expensive than the average. After that we have properties with 4 bedrooms priced at R 11 697.
With regard to the average price per m², those properties with 3 bedrooms are the most affordable ones at a cost of R 33 / m², with an average R 15 674 / m² price in Greenstone Hill. The properties with the most expensive average prices have 1 bedroom. They are 19 % more expensive than the average followed by properties with 4 bedrooms with a price at R 96 / m².
The graph displaying the average rent prices displays the property type "Land" as the most affordable one. At an cost of R 16 839 it is 44 % more affordable than the average price in Greenstone Hill. "Flat" is seen as the second most affordable property type. The most affordable property is "House" followed by "Townhouse". At a price of R 11 637 it is 31 % more affordable than the average price.
According to the average cost per m², the most affordable property is "Townhouse" at an average price of R 91 / m² followed by "House" priced at R 96 / m². "Flat" is the most affordable type of property with a R 10 804 / m² value followed by "Land" with an average price of R 9 292 / m².