The rent prices in real estate in Verulam, in the Kwazulu-natal region have risen considerably in the last couple of months. There has been a strong rise in the rent prices this city.
The price per m² in Verulam has risen strongly during the last 6 months. In October, the average price per m² was R 43,71. In the following month the price per m² rose to R 48,61. The price for the following two months in (December, January) had a considerable rise of 197 %. The price per m² has had a considerable fall of 67 % 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 68,64 to R 45,89 during February, and March.
When referring to the price in Verulam (cities & towns), this has fallen considerably in the last 6 months. The average price during our first sample month during October, is R 29 635. During November the price went through a considerable rise reaching R 35 444. During the following two months (December, January) the price has had an average rise from R 32 539,5 to R 37 042. During the last two months the average price has fallen greatly compared to the previous four going from R 34 790,75 to R 7 660, which means a 22 % 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 6 683 they are 14 % more affordable than the average price for Verulam . The properties with the highest average price have 1 bedroom, Their price is 217 % more expensive than the average. After that we have properties with 3 bedrooms priced at R 9 865.
With regard to the average price per m², those properties with 3 bedrooms are the most affordable ones at a cost of R 31 / m², with an average R 32,36 / m² price in Verulam. The properties with the most expensive average prices have 1 bedroom. They are 65382 % more expensive than the average followed by properties with 2 bedrooms with a price at R 55 / m².
The graph displaying the average rent prices displays the property type "Commercial" as the most affordable one. At an cost of R 6 683 it is 4 % more affordable than the average price in Verulam. "Flat" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Apartment". At a price of R 8 882 it is 48 % 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 31 / m² followed by "Commercial" priced at R 1 827 / m². "Apartment" is the most expensive type of property with a R 3 836 / m² value followed by "Townhouse" with an average price of R 3 796 / m².