The prices in real estate in Gillitts, in the Kwazulu-natal 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 Gillitts has increased strongly during the last 6 months. In October, the average price per m² was R 3 311. In the following month the price per m² decreased to R 2 959. The price for the following two months in (December, January) had a considerable decrease of 79 with regard to the prior two months. The price per m² has had a considerable increase of 225 % 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 2 807,75 to R 6 307,5 during February, and March.
Based upon to the price in Gillitts (cities & towns), these have remained the same in the last 6 months. The price in October is R 2 735 774, rising in November till R 2 873 500. In the following two months the average price has remained the same with regard to the previous two months from R 2 804 637 to R 2 804 466,5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 89 %, going from R 2 804 551,75 to R 2 492 469 in February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 2 358 125 they are 62 % more affordable than the average price for Gillitts. The properties with the highest average price have 4 bedrooms, Their price is 101 % more costly than the average. After that we have properties with 3 bedrooms priced at R 2 621 226.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 1 715 / m², with an average R 7 040 / m² price in Gillitts. The properties with the highest average prices have 1 bedroom. They are 265 % more expensive than the average followed by properties with 2 bedrooms with a price at R 14 047 / m².
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of R 2 358 125 it is 61 % cheaper than the average price in Gillitts. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Townhouse". At a price of R 2 283 699 it is 78 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of R 1 133 / m² followed by "Townhouse" priced at R 10 080 / m². "Commercial" is the most costly type of property with a R 1 706 261 / m² cost followed by "Land" with an average price of R 913 200 / m².