The rent prices in real estate in Umkomaas, 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 Umkomaas has had a strong fall during the last 6 months. In October, the average price per m² was R 97,28. In the following month the price per m² fell considerably to R 46,91. The price for the following two months in (December, January) had a considerable fall of 74 with regard to the previous two months. The price per m² has had a considerable rise of 116 % 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 62,58 to R 72,5 during February, and March.
When referring to the price in Umkomaas (cities & towns), this has fallen in the last 6 months. The average price for October is R 8 517. During November the price had a considerable fall till R 7 100. During the following two months (December, January) the average price had a considerable fall of 68 % 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 142 % during the last two months.
The graph displaying the average rent price for bedrooms illustrates that those properties with 2 bedrooms are the most affordable ones. At a price of R 10 889 they are 75 % more affordable than the average price for Umkomaas . The properties with the lowest average price have 1 bedroom, Their price is 47 % more affordable than the average. After that we have properties with 2 bedrooms priced at R 2 714.
With regard to the average price per m², those properties with 2 bedrooms are the most expensive ones at a cost of R 673 / m², with an average R 92 / m² price in Umkomaas. The properties with the most expensive average prices have 1 bedroom. They are 5446 % more expensive than the average followed by properties with 2 bedrooms with a price at R 673 / m².
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of R 10 889 it is 75 % more affordable than the average price in Umkomaas. "Land" is seen as the second most affordable property type. The most affordable property is "Commercial Property" followed by "Apartment". At a price of R 4 476 it is 38 % more affordable than the average price.
According to the average cost per m², the least affordable property would be "House" at an average price of R 673 / m² followed by "Commercial Property" priced at R 3 511 / m². "Apartment" is the most expensive type of property with a R 3 821 / m² value followed by "Townhouse" with an average price of R 3 801 / m².