The rent prices in real estate in Worcester, in the Western 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 Worcester has had a strong fall during the last 6 months. In October, the average price per m² was R 87,88. In the following month the price per m² rose to R 93,1. The price for the following two months in (December, January) had a considerable fall of 68 with regard to the previous two months. The price per m² has had a considerable fall of 82 % 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 75,97 to R 62,37 during February, and March.
When referring to the price in Worcester (cities & towns), this has risen in the last 6 months. The average price for October is R 8 205. During November the price had a slight fall till R 7 133. During the following two months (December, January) the price has had an average rise from R 7 669 to R 8 408. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 133 % 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 10 763 they are 22 % more affordable than the average price for Worcester . The properties with the highest average price have 4 bedrooms, Their price is 4 % more expensive than the average. After that we have properties with 3 bedrooms priced at R 9 723.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of R 40 / m², with an average R 63,14 / m² price in Worcester. The properties with the most expensive average prices have 1 bedroom. They are 13601 % more expensive than the average followed by properties with 2 bedrooms with a price at R 79 / m².
The graph displaying the average rent prices displays the property type "House" as the most expensive one. At an cost of R 10 763 it is 4 % more expensive than the average price in Worcester. "" is seen as the second most expensive property type. The most expensive property type is "Apartment" followed by "". At a price of R 12 583 it is 67 % 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 15 / m² followed by "House" priced at R 40 / m². "House" is the most affordable type of property with a R 40 / m² value followed by "Apartment" with an average price of R 15 / m².