The prices in real estate in City Of Johannesburg Metro, in the Gauteng region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per m² in City Of Johannesburg Metro has fallen in the last 6 months. In July, the average price per m² was R 14 825. In the following month the price per m² decreased considerably to R 11 211. In the following two months the price per m² has barely changed, going from R 13 018 to R 12 387 per m². The price per m² has had a considerable increase of 123 % 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 12 702,5 to R 15 598 during November, and December.
Based upon to the price in City Of Johannesburg Metro (cities & towns), these have remained the same in the last 6 months. The average price for July is R 2 021 080. During August the price had a slight fall till R 1 905 211. In the following two months the average price has remained the same with regard to the previous two months from R 1 963 145,5 to R 1 881 387,5. Based on an analysis of the first four prices and the last two months the average price has gone up 109 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 2 071 850 they are 32 % more affordable than the average price for City Of Johannesburg Metro. The properties with the highest average price have 2 bedrooms, Their price is 18 % more costly than the average. After that we have properties with 4 bedrooms priced at R 2 191 042.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 5 426 / m², with an average R 13 860 / m² price in City Of Johannesburg Metro. The properties with the highest average prices have 2 bedrooms. They are 97 % more expensive than the average followed by properties with 1 bedroom with a price at R 24 627 / m².
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of R 2 071 850 it is 49 % cheaper than the average price in City Of Johannesburg Metro. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Apartment". At a price of R 2 512 911 it is 110 % 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 4 823 / m² followed by "Commercial" priced at R 8 201 / m². "Apartment" is the most costly type of property with a R 29 865 / m² cost followed by "Flat" with an average price of R 14 932 / m².