The rent prices in real estate in Randburg, in the Gauteng 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 Randburg has had a strong fall during the last 6 months. In February, the average price per m² was R 4 318,46. In the following month the price per m² fell to R 4 053,21. The price for the following two months in (April, May) had a considerable fall of 77 with regard to the previous two months. The price per m² has had a considerable fall of 79 % 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 3 712,28 to R 2 937,13 during June, and July.
When referring to the price in Randburg (cities & towns), this has risen considerably in the last 6 months. The average price for February is R 12 247. During March the price had a slight fall till R 11 576. During the following two months (April, May) the average price had a considerable rise of 122 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 137 % 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 14 933 they are 58 % more affordable than the average price for Randburg . The properties with the highest average price have 4 bedrooms, Their price is 13 % more expensive than the average. After that we have properties with 3 bedrooms priced at R 11 922.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of R 50,8 / m², with an average R 94,9 / m² price in Randburg. The properties with the most expensive average prices have 1 bedroom. They are 29 % more expensive than the average followed by properties with 2 bedrooms with a price at R 100,42 / m².
The graph displaying the average rent prices displays the property type "Flat" as the most affordable one. At an cost of R 14 933 it is 53 % more affordable than the average price in Randburg. "House" is seen as the second most affordable property type. The most expensive property type is "Townhouse" followed by "Land". At a price of R 23 901 it is 530 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Apartment" at an average price of R 91,95 / m² followed by "Land" priced at R 94,53 / m². "Townhouse" is the most expensive type of property with a R 519,24 / m² value followed by "House" with an average price of R 107,64 / m².