The prices in real estate in City Of Johannesburg Metro, 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 City Of Johannesburg Metro has increased strongly during the last 6 months. In October, the average price per m² was R 12 140. In the following month the price per m² increased considerably to R 17 336. In the following two months the price per m² has increased 111 %, going from R 14 738 to R 16 421,5 per m². The price per m² has had a considerable increase of 119 % 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 15 579,75 to R 18 578,5 during February, and March.
Based upon to the price in City Of Johannesburg Metro (cities & towns), this has gone up considerably in the last 6 months. The average price during our first sample month during October, is R 1 815 600. During November the price went through a considerable rise reaching R 2 112 655. During the following two months (December, January) the price has had an average incrementation from R 1 964 127,5 to R 2 173 250,5. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of R 2 068 689 and R 2 124 766 between February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 2 220 659 they are 13 % more affordable than the average price for City Of Johannesburg Metro. The properties with the lowest average price have 2 bedrooms, Their price is 1 % cheaper than the average. After that we have properties with 4 bedrooms priced at R 2 106 600.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 6 577 / m², with an average R 19 597 / m² price in City Of Johannesburg Metro. The properties with the highest average prices have 1 bedroom. They are 90 % more expensive than the average followed by properties with 2 bedrooms with a price at R 26 420 / m².
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of R 2 220 659 it is 22 % cheaper than the average price in City Of Johannesburg Metro. "Office" is seen as the second most affordable property type. The dearest property type is "Apartment" followed by "Flat". At a price of R 2 260 890 it is 6 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of R 6 501 / m² followed by "Office" priced at R 10 037 / m². "Apartment" is the most costly type of property with a R 32 239 / m² cost followed by "Flat" with an average price of R 30 776 / m².