The rent prices in real estate in Mitchells Plain, 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 Mitchells Plain has had a strong fall during the last 6 months. In November, the average price per m² was R 66 511. In the following month the price per m² fell considerably to R 15 205. The price for the following two months in (January, February) had a considerable fall of 23 with regard to the previous two months. The price per m² has had a considerable fall of 0 % 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 25 107,5 to R 58,94 during March, and April.
When referring to the price in Mitchells Plain (cities & towns), this has fallen considerably in the last 6 months. The average price for November is R 67 749. During December the price had a considerable fall till R 16 195. During the following two months (January, February) the average price had a considerable fall of 32 % 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 27 722 to R 8 461, which means a 31 % 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 7 984 they are 46 % more affordable than the average price for Mitchells Plain . The properties with the highest average price have 3 bedrooms, Their price is 7563 % more expensive than the average. After that we have properties with 4 bedrooms priced at R 609 358.
With regard to the average price per m², those properties with 2 bedrooms are the most affordable ones at a cost of R 8 / m², with an average R 72 / m² price in Mitchells Plain. The properties with the most expensive average prices have 1 bedroom. They are 24056 % more expensive than the average followed by properties with 3 bedrooms with a price at R 9 204 / m².
The graph displaying the average rent prices displays the property type "Commercial" as the most expensive one. At an cost of R 7 984 it is 7456 % more expensive than the average price in Mitchells Plain. "House" is seen as the second most expensive property type. The most expensive property type is "House" followed by "Commercial". At a price of R 603 287 it is 7532 % more expensive than the average price.
According to the average cost per m², the least affordable property would be "Commercial" at an average price of R 9 064 / m² followed by "House" priced at R 9 164 / m². "House" is the most expensive type of property with a R 9 164 / m² value followed by "Commercial" with an average price of R 9 064 / m².