The rent prices in real estate in Uitenhage, in the Eastern 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 Uitenhage has had a strong fall during the last 6 months. In October, the average price per m² was R 42,39. In November this price barely changed remaining at R 40,41 per m². The price for the following two months in (December, January) had a considerable fall of 72 with regard to the previous two months. The price per m² has fallen 87 % 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 35,66 to R 31 during February, and March.
When referring to the price in Uitenhage (cities & towns), this has risen in the last 6 months. The average price for October is R 13 440. During November the price had a considerable fall till R 5 350. During the following two months (December, January) the average price had a considerable fall of 69 % 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 357 % 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 29 784 they are 91 % more affordable than the average price for Uitenhage . The properties with the lowest average price have 3 bedrooms, Their price is 70 % more affordable than the average. After that we have properties with 2 bedrooms priced at R 5 451.
With regard to the average price per m², those properties with 3 bedrooms are the most affordable ones at a cost of R 7 / m², with an average R 26 / m² price in Uitenhage. The properties with the most expensive average prices have 1 bedroom. They are 177 % more expensive than the average followed by properties with 2 bedrooms with a price at R 32 / m².
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of R 29 784 it is 88 % more affordable than the average price in Uitenhage. "Apartment" is seen as the second most affordable property type. The most affordable property is "" followed by "Apartment". At a price of R 7 788 it is 6 % 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 17 / m² followed by "House" priced at R 27 / m². "House" is the most expensive type of property with a R 27 / m² value followed by "Apartment" with an average price of R 17 / m².