The rent prices in real estate in Phoenix, in the Kwazulu-natal 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 Phoenix has had a strong fall during the last 6 months. In October, the average price per m² was R 76,71. In the following month the price per m² fell considerably to R 60,29. The price for the following two months in (December, January) had a considerable fall of 80 with regard to the previous two months. The price per m² has had a considerable fall of 72 % 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 61,75 to R 44,2 during February, and March.
When referring to the price in Phoenix (cities & towns), this has fallen considerably in the last 6 months. The average price for October is R 44 514. During November the price had a considerable fall till R 9 754. During the following two months (December, January) the average price had a considerable fall of 34 % 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 18 192 to R 11 271, which means a 62 % fall.
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 14 625 they are 74 % more affordable than the average price for Phoenix . The properties with the lowest average price have 4 bedrooms, Their price is 27 % more affordable than the average. After that we have properties with 3 bedrooms priced at R 6 375.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of R 23 / m², with an average R 49,25 / m² price in Phoenix. The properties with the most affordable average prices have 1 bedroom. They are 11 % more affordable than the average followed by properties with 2 bedrooms with a price at R 26 / m².
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of R 14 625 it is 55 % more affordable than the average price in Phoenix. "Apartment" is seen as the second most affordable property type. The most expensive property type is "Townhouse" followed by "Flat". At a price of R 14 546 it is 1 % 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 25 / m² followed by "Land" priced at R 27 / m². "Apartment" is the most expensive type of property with a R 79 / m² value followed by "Townhouse" with an average price of R 67 / m².