Property prices for sale in Johannesburg (Gauteng)
The prices in real estate in Johannesburg, 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 Johannesburg has had a strong decrease during the last 6 months. In March, the average price per m² was R 11 938. In April this price pretty much remained the same at a value of R 11 694 per m². The price for the following two months in (May, June) had a considerable decrease of 70 with regard to the prior two months. The price per m² has had a considerable deflation of 55 % 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 10 065,75 to R 5 581 during July, and August.
Based upon to the price in Johannesburg (cities & towns), this has gone up considerably in the last 6 months. The average price for March is R 1 580 889. During April the price had a slight fall till R 1 499 265. During the following two months (May, June) the average price had a considerable increase of 120 % 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 115 % 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 1 717 104 they are 56 % more affordable than the average price for Johannesburg. 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 1 703 914.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 4 231 / m², with an average R 5 923 / m² price in Johannesburg. The properties with the highest average prices have 1 bedroom. They are 66 % more expensive than the average followed by properties with 2 bedrooms with a price at R 8 333 / m².
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of R 1 717 104 it is 61 % cheaper than the average price in Johannesburg. "Apartment" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of R 2 179 869 it is 147 % 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 2 599 / m² followed by "House" priced at R 3 631 / m². "Townhouse" is the most costly type of property with a R 10 493 / m² cost followed by "Apartment" with an average price of R 9 776 / m².
