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 December, the average price per m² was R 7 147. In the following month the price per m² increased considerably to R 72 151. The price for the following two months in (February, March) had a considerable increment of 212 %. The price per m² has had a considerable increase of 155 % 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 61 770,25 to R 95 632 during April, and May.
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 December, is R 5 126 864. During January the price went through a considerable rise reaching R 261 416 449. During the following two months (February, March) the average price had a considerable increase of 229 % 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 159 % 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 4 % cheaper than the average price of R 335 239 944 in East Rand. Based on the bedrooms values, properties with the lowest prices are those with 1 bedroom. They are 4 % more affordable than the average aforementioned.
With regard to the average prices per m² those properties with 1 bedroom are 0 % more costly than the average price of (R 95 677 / m²) in East Rand. Properties with the most expensive price based upon to the number of bedrooms / m² are those with 1 bedroom. They are 0 % more costly than the average value aforementioned.
The graph displaying the average prices displays the property type "Industrial property" as the most affordable one. At an cost of R 348 488 598 it is 25 % cheaper than the average price in East Rand. "Commercial Property" is seen as the second most affordable property type. The cheapest type property is "Apartment" followed by "Commercial Property". At a price of R 332 127 060 it is 4 % more affordable than the average price.
According to the average cost per m², the cheapest property type is "Industrial property" at an average cost of R 71 860 / m² followed by "Commercial Property" priced at R 93 334 / m². "Apartment" is the most costly type of property with a R 95 677 / m² cost followed by "Commercial Property" with an average price of R 93 334 / m².