The prices in real estate in East Rand, in the Gauteng region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per m² in East Rand has had a strong decrease during the last 6 months. In May, the average price per m² was R 95 869. In the following month the price per m² decreased considerably to R 7 155. In the following two months the price per m² has barely changed, going from R 51 512 to R 49 626,5 per m². The price per m² has had a considerable deflation of 13 % 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 50 569,25 to R 6 647 during September, and October.
Based upon to the price in East Rand (cities & towns), this has fallen considerably in the last 6 months. The average price for May is R 335 911 416. During June the price had a considerable reduction till R 5 131 996. In the following two months the average price has remained the same with regard to the previous two months from R 170 521 712 to R 169 240 256. During the last two months the average price has had a strong fall compared to the previous four going from R 169 880 992 to R 947 966, which means a 1 % fall.
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 947 966 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 6 647 / 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 947 966 it is 0 % cheaper than the average price in East Rand. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Commercial Property" followed by "Townhouse". At a price of R 8 360 265 it is 35182 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Townhouse" at an average cost of R 6 186 / m² followed by "Apartment" priced at R 6 647 / m². "Commercial Property" is the most costly type of property with a R 93 992 / m² cost followed by "Apartment" with an average price of R 6 647 / m².