The rent prices in real estate in Midvaal, in the Gauteng 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 Midvaal has risen strongly during the last 6 months. In September, the average price per m² was R 109,71. In the following month the price per m² rose considerably to R 134,82. The price for the following two months in (November, December) had a considerable rise of 121 %. The price per m² has fallen 89 % 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 135,04 to R 119,53 during January, and February.
When referring to the price in Midvaal (cities & towns), this has risen considerably in the last 6 months. The rent price in September is R 13 054, rising in October till R 14 427. During the following two months (November, December) the price has had an average rise from R 13 740,5 to R 15 392,5. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 138 % during the last two months.
The graph displaying the average rent price for bedrooms illustrates that those properties with 4 bedrooms are the most affordable ones. At a price of R 18 833 they are 62 % more affordable than the average price for Midvaal . The properties with the lowest average price have 3 bedrooms, Their price is 4 % more affordable than the average. After that we have properties with 2 bedrooms priced at R 12 281.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of R 20 / m², with an average R 95,72 / m² price in Midvaal. The properties with the most expensive average prices have 1 bedroom. They are 92 % more expensive than the average followed by properties with 2 bedrooms with a price at R 121 / m².
The graph displaying the average rent prices displays the property type "Townhouse" as the most affordable one. At an cost of R 18 833 it is 62 % more affordable than the average price in Midvaal. "Land" is seen as the second most affordable property type. The most affordable property is "House" followed by "Apartment". At a price of R 7 134 it is 62 % 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 5 / m² followed by "Land" priced at R 6 / m². "House" is the most affordable type of property with a R 20 / m² value followed by "Apartment" with an average price of R 11 / m².