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 September, the average price per m² was R 8 669. In October this price pretty much remained the same at a value of R 8 577 per m². In the following two months the price per m² has increased 110 %, going from R 8 623 to R 9 467,5 per m². The price per m² has had a considerable increase of 422 % 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 9 045,25 to R 38 155,5 during January, and February.
Based upon to the price in Alberton (cities & towns), these have remained the same in the last 6 months. The average price for September is R 1 603 218. During October the price had a slight fall till R 1 485 950. In the following two months the average price has remained the same with regard to the previous two months from R 1 544 584 to R 1 524 126,5. Based on an analysis of the first four prices and the last two months the average price has risen strongly 122 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of R 1 798 240 they are 56 % more affordable than the average price for Alberton. The properties with the highest average price have 4 bedrooms, Their price is 57 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 545 795.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 4 663 / m², with an average R 66 597 / m² price in Alberton. The properties with the highest average prices have 1 bedroom. They are 2023 % more expensive than the average followed by properties with 2 bedrooms with a price at R 10 066 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 1 798 240 it is 62 % 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 922 697 it is 6 % 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 9 729 / m² followed by "Townhouse" priced at R 10 203 / m². "Flat" is the most costly type of property with a R 287 818 / m² cost followed by "House" with an average price of R 125 454 / m².