The rent prices in real estate in Hermanus, in the Western 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 Hermanus has had a strong fall during the last 6 months. In September, the average price per m² was R 100,68. In October this price barely changed remaining at R 98,4 per m². The price for the following two months in (November, December) had a considerable fall of 79 with regard to the previous two months. The price per m² has fallen 88 % 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 89,15 to R 78,17 during January, and February.
When referring to the price in Hermanus (cities & towns), there have hardly been any changes in the last 6 months. The average price for September is R 17 474. During October the price had a slight fall till R 15 177. In the following two months the average price has hardly changed with regard to the previous two months from R 16 325,5 to R 15 880. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 129 % 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 22 200 they are 69 % more affordable than the average price for Hermanus . The properties with the lowest average price have 4 bedrooms, Their price is 19 % more affordable than the average. After that we have properties with 2 bedrooms priced at R 16 012.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of R 41 / m², with an average R 99,47 / m² price in Hermanus. The properties with the most expensive average prices have 1 bedroom. They are 94 % more expensive than the average followed by properties with 2 bedrooms with a price at R 128 / m².
The graph displaying the average rent prices displays the property type "Land" as the most affordable one. At an cost of R 22 200 it is 64 % more affordable than the average price in Hermanus. "Apartment" is seen as the second most affordable property type. The most affordable property is "House" followed by "Flat". At a price of R 13 973 it is 24 % more affordable than the average price.
According to the average cost per m², the most affordable property is "Farm" at an average price of R 5 / m² followed by "Townhouse" priced at R 20 / m². "Flat" is the most expensive type of property with a R 13 973 / m² value followed by "House" with an average price of R 4 063 / m².