The rent prices in real estate in Midrand, in the Gauteng region have slightly risen in the last couple of months. There has been a rise in the rent prices in this city.
The price per m² in Midrand has risen during the last 6 months. In October, the average price per m² was R 86,39. In the following month the price per m² rose to R 99,05. In the following two months the price per m² has practically remained the same, going from R 92,72 to R 96,4 per m². The price per m² has hardly changed in the last two months compared to the average price of the previous four months going from an average price of R 94,56 to R 94,04 during February y March
When referring to the price in Midrand (cities & towns), this has fallen considerably in the last 6 months. The average price for October is R 38 886. During November the price had a considerable fall till R 25 064. In the following two months the average price has hardly changed with regard to the previous two months from R 31 975 to R 30 451,5. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 121 % 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 22 839 they are 70 % more affordable than the average price for Midrand . The properties with the highest average price have 4 bedrooms, Their price is 65 % more expensive than the average. After that we have properties with 3 bedrooms priced at R 15 336.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of R 80,31 / m², with an average R 92,85 / m² price in Midrand. The properties with the most expensive average prices have 1 bedroom. They are 39 % more expensive than the average followed by properties with 2 bedrooms with a price at R 113,82 / m².
The graph displaying the average rent prices displays the property type "Office" as the most affordable one. At an cost of R 22 839 it is 58 % more affordable than the average price in Midrand. "Flat" is seen as the second most affordable property type. The most expensive property type is "Townhouse" followed by "Apartment". At a price of R 22 409 it is 222 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Apartment" at an average price of R 78,95 / m² followed by "Townhouse" priced at R 79,03 / m². "Office" is the most expensive type of property with a R 134 / m² value followed by "House" with an average price of R 126,75 / m².