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 . The price for the following two months in (May, June) had a considerable increment of 2147483647 %. The price per m² has had a considerable increase of 166 % 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 2 159,25 to R 3 581,5 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 . During the following two months (May, June) the average price had a considerable increase of 2147483647 % 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 208 % 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 1 265 693 they are 58 % more affordable than the average price for East Rand. The properties with the highest average price have 4 bedrooms, Their price is 85 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 486 140.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of R 3 194 / m², with an average R 4 028 / m² price in East Rand. The properties with the highest average prices have 1 bedroom. They are 79 % more expensive than the average followed by properties with 2 bedrooms with a price at R 6 630 / m².
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of R 1 265 693 it is 58 % cheaper than the average price in East Rand. "Land" is seen as the second most affordable property type. The dearest property type is "Farm" followed by "House". At a price of R 1 462 306 it is 301 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Land" at an average cost of R 1 060 / m² followed by "Flat" priced at R 2 256 / m². "Farm" is the most costly type of property with a R 82 601 / m² cost followed by "Apartment" with an average price of R 7 753 / m².