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 February, the average price per m² was R 72 151. In the following month the price per m² increased considerably to R 95 632. In the following two months the price per m² has increased 114 %, going from R 83 891,5 to R 95 632 per m². The price per m² has had a considerable deflation of 2 % 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 89 761,75 to R 1 614,5 during June, and July.
Based upon to the price in East Rand (cities & towns), this has fallen considerably in the last 6 months. The average price during our first sample month during February, is R 261 416 449. During March the price went through a considerable rise reaching R 348 488 598. During the following two months (April, May) the price has had an average incrementation from R 304 952 512 to R 348 488 608. During the last two months the average price has had a strong fall compared to the previous four going from R 326 720 576 to R 8 844 300, which means a 3 % fall.