The prices in real estate in Greenstone Hill, 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 Greenstone Hill has had a strong decrease during the last 6 months. In July, the average price per m² was R 1 045 744. In August this price pretty much remained the same at a value of R 1 083 833 per m². The price for the following two months in (September, October) had a considerable decrease of 70 with regard to the prior two months. The price per m² has decreased 86 % 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 905 861,5 to R 781 218,5 during November, and December.
Based upon to the price in Greenstone Hill (cities & towns), this has gone downing the last 6 months. The average price during our first sample month during July, is R 72 757 317. During August the price went through a considerable rise reaching R 89 659 120. During the following two months (September, October) the average price fell 91 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from R 77 638 360 to R 47 353 972, which means a 61 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 44 423 628 they are 89 % more affordable than the average price for Greenstone Hill. The properties with the highest average price have 3 bedrooms, Their price is 115 % more costly than the average. After that we have properties with 2 bedrooms priced at R 59 700 908.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 153 645 / m², with an average R 765 850 / m² price in Greenstone Hill. The properties with the highest average prices have 1 bedroom. They are 43 % more expensive than the average followed by properties with 3 bedrooms with a price at R 850 307 / m².
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of R 44 423 628 it is 95 % cheaper than the average price in Greenstone Hill. "House" is seen as the second most affordable property type. The dearest property type is "Townhouse" followed by "Apartment". At a price of R 99 210 933 it is 147 % 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 543 310 / m² followed by "Apartment" priced at R 956 132 / m². "Flat" is the most costly type of property with a R 1 970 010 / m² cost followed by "Townhouse" with an average price of R 1 326 086 / m².