The rent prices in real estate in Southern Suburbs, 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 Southern Suburbs has had a strong fall during the last 6 months. In November, the average price per m² was R 152,06. In the following month the price per m² fell to R 134,85. The price for the following two months in (January, February) fell 93 % with regard to the previous two months. The price per m² has had a considerable fall of 76 % 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 138,73 to R 104,86 during March, and April.
When referring to the price in Southern Suburbs (cities & towns), this has risen considerably in the last 6 months. The average price for November is R 15 111. During December the price had a slight fall till R 13 462. During the following two months (January, February) the price has had an average rise from R 14 286,5 to R 15 876,5. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 170 % 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 27 469 they are 62 % more affordable than the average price for Southern Suburbs . The properties with the highest average price have 4 bedrooms, Their price is 104 % more expensive than the average. After that we have properties with 3 bedrooms priced at R 16 720.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of R 94 / m², with an average R 96,88 / m² price in Southern Suburbs. The properties with the most expensive average prices have 1 bedroom. They are 138 % more expensive than the average followed by properties with 2 bedrooms with a price at R 166 / m².
The graph displaying the average rent prices displays the property type "Flat" as the most affordable one. At an cost of R 27 469 it is 60 % more affordable than the average price in Southern Suburbs. "Commercial" is seen as the second most affordable property type. The most affordable property is "Apartment" followed by "Duplex". At a price of R 18 475 it is 5 % more affordable than the average price.
According to the average cost per m², the most affordable property is "Apartment" at an average price of R 89 / m² followed by "Flat" priced at R 112 / m². "Duplex" is the most expensive type of property with a R 394 / m² value followed by "House" with an average price of R 189 / m².