The prices in real estate in Alberton, in the Gauteng region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per m² in Alberton has increased strongly during the last 6 months. In December, the average price per m² was R 9 437. In January this price pretty much remained the same at a value of R 9 714 per m². The price for the following two months in (February, March) had a considerable increment of 391 %. The price per m² has had a considerable increase of 739 % 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 23 497 to R 173 639 during April, and May.
Based upon to the price in Alberton (cities & towns), this has gone up considerably in the last 6 months. The average price during our first sample month during December, is R 1 411 515. During January the price went through a considerable rise reaching R 1 947 131. During the following two months (February, March) the price has had an average incrementation from R 1 679 323 to R 1 904 061. During the last two months the average price has had a strong fall compared to the previous four going from R 1 791 692 to R 1 347 702,5, which means a 75 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of R 1 179 918 they are 34 % more affordable than the average price for Alberton. The properties with the highest average price have 4 bedrooms, Their price is 105 % more costly than the average. After that we have properties with 1 bedroom priced at R 1 321 820.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 7 423 / m², with an average R 149 940 / m² price in Alberton. The properties with the highest average prices have 1 bedroom. They are 778 % more expensive than the average followed by properties with 3 bedrooms with a price at R 11 674 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 1 179 918 it is 37 % cheaper than the average price in Alberton. "Flat" is seen as the second most affordable property type. The dearest property type is "House" followed by "Townhouse". At a price of R 1 029 057 it is 32 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Apartment" at an average cost of R 10 495 / m² followed by "Townhouse" priced at R 11 092 / m². "Flat" is the most costly type of property with a R 448 170 / m² cost followed by "House" with an average price of R 203 861 / m².