The prices in real estate in Kempton Park, in the Gauteng region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per m² in Kempton Park has fallen in the last 6 months. In October, the average price per m² was R 8 806. In November this price pretty much remained the same at a value of R 8 911 per m². The price for the following two months in (December, January) decreased 91 % with regard to the prior two months. The price per m² has had a considerable deflation of 83 % 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 8 469 to R 7 056,5 during February, and March.
Based upon to the price in Kempton Park (cities & towns), this has gone up in the last 6 months. The price in October is R 1 220 725, rising in November till R 1 365 700. During the following two months (December, January) the price has had an average incrementation from R 1 293 212,5 to R 1 483 137,5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 95 %, going from R 1 388 175 to R 1 313 150 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 1 303 850 they are 59 % more affordable than the average price for Kempton Park. The properties with the highest average price have 4 bedrooms, Their price is 82 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 480 951.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 3 372 / m², with an average R 5 455 / m² price in Kempton Park. The properties with the highest average prices have 1 bedroom. They are 60 % more expensive than the average followed by properties with 2 bedrooms with a price at R 7 439 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 1 303 850 it is 52 % cheaper than the average price in Kempton Park. "Flat" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Land". At a price of R 3 266 667 it is 1111 % 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 3 121 / m² followed by "Flat" priced at R 3 436 / m². "Apartment" is the most costly type of property with a R 8 447 / m² cost followed by "Commercial" with an average price of R 7 568 / m².