The rent prices in real estate in Umlazi, 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 Umlazi has had a strong fall during the last 6 months. In October, the average price per m² was R 20,21. In the following month the price per m² fell considerably to R 10,38. The price for the following two months in (December, January) had a considerable fall of 70 with regard to the previous two months. The price per m² has had a considerable rise of 191 % 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 12,99 to R 24,81 during February, and March.
When referring to the price in Umlazi (cities & towns), this has risen in the last 6 months. In our first sample month during October, the average price is R 4 222. In November This price remains at R 4 063. In the following two months the average price has hardly changed with regard to the previous two months from R 4 142,5 to R 4 258,5. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 118 % 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 4 432 they are 58 % more affordable than the average price for Umlazi . The properties with the highest average price have 3 bedrooms, Their price is 397 % more expensive than the average. After that we have properties with 2 bedrooms priced at R 3 863.
With regard to the average price per m², those properties with 2 bedrooms are the most affordable ones at a cost of R 14 / m², with an average R 41 / m² price in Umlazi. The properties with the most expensive average prices have 3 bedrooms. They are 32000 % more expensive than the average followed by properties with 1 bedroom with a price at R 26 / m².
The graph displaying the average rent prices displays the property type "Land" as the most expensive one. At an cost of R 4 432 it is 395 % more expensive than the average price in Umlazi. "House" is seen as the second most expensive property type. The most expensive property type is "House" followed by "Land". At a price of R 21 918 it is 397 % more expensive than the average price.
According to the average cost per m², the least affordable property would be "Land" at an average price of R 13 105 / m² followed by "House" priced at R 13 161 / m². "House" is the most expensive type of property with a R 13 161 / m² value followed by "Land" with an average price of R 13 105 / m².