The prices in real estate in Johannesburg, 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 Johannesburg has increased strongly during the last 6 months. In October, the average price per m² was R 10 022. In November this price pretty much remained the same at a value of R 9 564 per m². The price for the following two months in (December, January) had a considerable increment of 115 %. The price per m² has had a considerable increase of 1517 % 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 10 537,5 to R 159 863,5 during February, and March.
Based upon to the price in Johannesburg (cities & towns), these have remained the same in the last 6 months. In our first sample month during October, the average price is R 1 615 074. In November This price remains at R 1 609 243. During the following two months (December, January) the average price fell 89 % 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 gone up 112 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of R 1 492 676 they are 36 % more affordable than the average price for Johannesburg. The properties with the highest average price have 4 bedrooms, Their price is 117 % more costly than the average. After that we have properties with 1 bedroom priced at R 2 317 399.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 5 258 / m², with an average R 192 638 / m² price in Johannesburg. The properties with the highest average prices have 1 bedroom. They are 862 % more expensive than the average followed by properties with 2 bedrooms with a price at R 12 232 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 1 492 676 it is 25 % cheaper than the average price in Johannesburg. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Land". At a price of R 4 571 793 it is 542 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Townhouse" at an average cost of R 10 874 / m² followed by "Apartment" priced at R 12 609 / m². "Commercial" is the most costly type of property with a R 9 527 930 / m² cost followed by "Land" with an average price of R 3 473 000 / m².