The prices in real estate in East Rand, 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 East Rand has increased strongly during the last 6 months. In March, the average price per m² was . In the following month the price per m² increased considerably to R 6 654. The price for the following two months in (May, June) had a considerable increment of 1548 %. The price per m² has had a considerable increase of 181 % 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 27 419,5 to R 49 626,5 during July, and August.
Based upon to the price in East Rand (cities & towns), this has gone up considerably in the last 6 months. The average price during our first sample month during March, is . During April the price went through a considerable rise reaching R 948 915. During the following two months (May, June) the average price had a considerable increase of 35940 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 198 % during the last two months.
The graph showing the average price for bedrooms displays the property with the lowest price has 1 bedroom. It is 0 % cheaper than the average price of R 3 013 855 in East Rand. Based on the bedrooms values, properties with the lowest prices are those with 1 bedroom. They are 0 % more affordable than the average aforementioned.
With regard to the average prices per m² those properties with 1 bedroom are 0 % cheaper than the average price of (R 4 976 / m²) in East Rand. Properties with the most affordable price based upon to the number of bedrooms / m² are those with 1 bedroom. They are 0 % cheaper than the average value aforementioned.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 3 013 855 it is 0 % cheaper than the average price in East Rand. "House" is seen as the second most affordable property type. The dearest property type is "Commercial Property" followed by "House". At a price of R 8 377 012 it is 11020 % 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 4 976 / m² followed by "House" priced at R 6 200 / m². "Commercial Property" is the most costly type of property with a R 94 182 / m² cost followed by "House" with an average price of R 6 200 / m².