The rent prices in real estate in Howick, in the Kwazulu-natal region have risen considerably in the last couple of months. There has been a strong rise in the rent prices this city.
The price per m² in Howick has risen strongly during the last 6 months. In October, the average price per m² was R 50,28. In November this price barely changed remaining at R 48,22 per m². The price for the following two months in (December, January) had a considerable rise of 143 %. The price per m² has had a considerable rise of 130 % 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 59,87 to R 77,74 during February, and March.
When referring to the price in Howick (cities & towns), this has fallen considerably in the last 6 months. The average price during our first sample month during October, is R 23 063. During November the price went through a considerable rise reaching R 31 880. During the following two months (December, January) the average price had a considerable fall of 78 % 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 24 487,5 to R 8 971, which means a 37 % 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 9 025 they are 35 % more affordable than the average price for Howick . The properties with the lowest average price have 3 bedrooms, Their price is 14 % more affordable than the average. After that we have properties with 2 bedrooms priced at R 6 085.
With regard to the average price per m², those properties with 3 bedrooms are the most affordable ones at a cost of R 41 / m², with an average R 77,78 / m² price in Howick. The properties with the most expensive average prices have 1 bedroom. They are 2 % more expensive than the average followed by properties with 2 bedrooms with a price at R 60 / m².
The graph displaying the average rent prices displays the property type "Flat" as the most affordable one. At an cost of R 9 025 it is 33 % more affordable than the average price in Howick. "Land" is seen as the second most affordable property type. The most affordable property is "House" followed by "Townhouse". At a price of R 7 760 it is 14 % more affordable than the average price.
According to the average cost per m², the most affordable property is "Apartment" at an average price of R 36 / m² followed by "House" priced at R 41 / m². "Land" is the most expensive type of property with a R 4 919 / m² value followed by "Flat" with an average price of R 3 872 / m².