The rent prices in real estate in Uvongo, 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 Uvongo has had a strong fall during the last 6 months. In February, the average price per m² was R 360 108. In the following month the price per m² rose considerably to R 446 099. The price for the following two months in (April, May) had a considerable fall of 55 with regard to the previous two months. The price per m² has had a considerable fall of 58 % 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 313 076,5 to R 180 454,5 during June, and July.
When referring to the price in Uvongo (cities & towns), this has fallen considerably in the last 6 months. In our first sample month during February, the average price is R 1 081 664. In March This price remains at R 1 092 648. During the following two months (April, May) the average price had a considerable fall of 50 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from R 816 740 to R 541 592,5, which means a 66 % fall.
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 1 080 582 they are 30 % more affordable than the average price for Uvongo . Based on the bedrooms values, properties with the most expensive rent prices are those with 3 bedrooms. They are 9 % more expensive than the average aforementioned.
With regard to the average price per m², those properties with 3 bedrooms are the most affordable ones at a cost of R 680 / m², with an average R 359 747 / m² price in Uvongo. Properties with the most expensive price when referring to the number of bedrooms / m² are those with 1 bedroom. They are 211 % more expensive than the average value aforementioned.
The graph displaying the average rent prices displays the property type "Townhouse" as the most affordable one. At an cost of R 1 080 582 it is 11 % more affordable than the average price in Uvongo. "Apartment" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Apartment". At a price of R 1 039 739 it is 33 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Apartment" at an average price of R 702 / m² followed by "Townhouse" priced at R 960 786 / m². "House" is the most expensive type of property with a R 1 433 164 / m² value followed by "Townhouse" with an average price of R 960 786 / m².