The rent prices in real estate in Newlands, in the Kwazulu-natal 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 Newlands has risen during the last 6 months. In October, the average price per m² was R 62,43. In the following month the price per m² fell to R 55. The price for the following two months in (December, January) had a considerable rise of 154 %. The price per m² has had a considerable fall of 82 % 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 74,64 to R 61 during February, and March.
When referring to the price in Newlands (cities & towns), there have hardly been any changes in the last 6 months. In our first sample month during October, the average price is R 5 983. In November This price remains at R 5 974. During the following two months (December, January) the price has had an average rise from R 5 978,5 to R 6 446,5. During the last two months, the average price has barely gone through any changes with regard to the previous average values going from an average value of R 6 212,5 and R 6 253 between February and March.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most expensive ones. At a price of R 6 213 they are 26 % more expensive than the average price for Newlands. Following this ranking we find those properties with 2 at an average price of R 12 083. The properties with the highest average price have 2 bedrooms, Their price is 94 % more expensive than the average. After that we have properties with 1 bedroom priced at R 7 816.
With regard to the average price per m², those properties with 2 bedrooms are the most affordable ones at a cost of R 15 / m², with an average R 63 / m² price in Newlands. The properties with the most expensive average prices have 1 bedroom. They are 12306 % more expensive than the average followed by properties with 2 bedrooms with a price at R 15 / m².
The graph displaying the average rent prices displays the property type "House" as the most expensive one. At an cost of R 6 213 it is 94 % 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 18 875 it is 289 % 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 15 / m² followed by "Townhouse" priced at R 11 632 / m². "Townhouse" is the most expensive type of property with a R 11 632 / m² value followed by "House" with an average price of R 15 / m².