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 May, the average price per m² was R 8 873. In the following month the price per m² increased considerably to R 85 245. The price for the following two months in (July, August) had a considerable decrease of 20 with regard to the prior two months. The price per m² has had a considerable deflation of 31 % 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 28 215,5 to R 8 623 during September, and October.
Based upon to the price in Alberton (cities & towns), these have remained the same in the last 6 months. The average price during our first sample month during May, is R 1 713 979. During June the price went through a considerable rise reaching R 2 067 038. During the following two months (July, August) the average price had a considerable reduction of 83 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 89 %, going from R 1 731 245,25 to R 1 544 584 in September and October.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 1 485 950 they are 63 % more affordable than the average price for Alberton. The properties with the highest average price have 4 bedrooms, Their price is 50 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 495 692.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 7 111 / m², with an average R 8 577 / m² price in Alberton. The properties with the highest average prices have 3 bedrooms. They are 23 % more expensive than the average followed by properties with 2 bedrooms with a price at R 10 114 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 1 485 950 it is 49 % cheaper than the average price in Alberton. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Flat" followed by "House". At a price of R 1 701 152 it is 109 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Flat" at an average cost of R 4 164 / m² followed by "House" priced at R 8 702 / m². "Townhouse" is the most costly type of property with a R 10 294 / m² cost followed by "Apartment" with an average price of R 9 089 / m².