The rent prices in real estate in Newlands, 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 Newlands has risen strongly during the last 6 months. In November, the average price per m² was R 55. In the following month the price per m² rose considerably to R 112,14. The price for the following two months in (January, February) had a considerable fall of 77 with regard to the previous two months. The price per m² has had a considerable fall of 61 % 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 73,79 to R 45,28 during March, and April.
When referring to the price in Newlands (cities & towns), this has risen considerably in the last 6 months. The rent price in November is R 5 974, rising in December till R 6 300. In the following two months the average price has hardly changed with regard to the previous two months from R 6 137 to R 6 443. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 133 % 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 10 533 they are 26 % more affordable than the average price for Newlands . The properties with the highest average price have 2 bedrooms, Their price is 15 % more expensive than the average. After that we have properties with 1 bedroom priced at R 7 808.
With regard to the average price per m², those properties with 2 bedrooms are the most affordable ones at a cost of R 14 / m², with an average R 27,56 / m² price in Newlands. The properties with the most expensive average prices have 1 bedroom. They are 28231 % more expensive than the average followed by properties with 2 bedrooms with a price at R 14 / m².
The graph displaying the average rent prices displays the property type "House" as the most expensive one. At an cost of R 10 533 it is 15 % more expensive than the average price in Newlands. "Flat" is seen as the second most expensive property type. The most expensive property type is "Townhouse" followed by "". At a price of R 18 856 it is 129 % more expensive than the average price.
According to the average cost per m², the most affordable property is "House" at an average price of R 14 / m² followed by "Townhouse" priced at R 11 620 / m². "Townhouse" is the most expensive type of property with a R 11 620 / m² value followed by "House" with an average price of R 14 / m².