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 October, the average price per m² was R 161,1. In the following month the price per m² fell to R 152,06. The price for the following two months in (December, January) fell 91 % with regard to the previous two months. The price per m² has had a considerable fall of 77 % 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 149,77 to R 114,88 during February, and March.
When referring to the price in Southern Suburbs (cities & towns), this has risen considerably in the last 6 months. In our first sample month during October, the average price is R 14 537. In November This price remains at R 15 111. During the following two months (December, January) the average price fell 91 % 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 148 % 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 23 791 they are 46 % more affordable than the average price for Southern Suburbs . The properties with the highest average price have 4 bedrooms, Their price is 152 % more expensive than the average. After that we have properties with 3 bedrooms priced at R 24 532.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of R 50,14 / m², with an average R 112,84 / m² price in Southern Suburbs. The properties with the most expensive average prices have 1 bedroom. They are 121 % more expensive than the average followed by properties with 2 bedrooms with a price at R 139,19 / m².
The graph displaying the average rent prices displays the property type "Commercial" as the most affordable one. At an cost of R 23 791 it is 48 % more affordable than the average price in Southern Suburbs. "Apartment" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Duplex". At a price of R 18 494 it is 66 % 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 65,43 / m² followed by "Commercial" priced at R 119 / m². "Duplex" is the most expensive type of property with a R 395 / m² value followed by "Apartment" with an average price of R 174,1 / m².