The prices in real estate in Kempton Park, 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 Kempton Park has had a strong decrease during the last 6 months. In February, the average price per m² was R 41 944. In the following month the price per m² increased considerably to R 69 697. The price for the following two months in (April, May) had a considerable decrease of 28 with regard to the prior two months. The price per m² has barely changed in the last two months compared to the average price of the previous four months going from an average price of R 35 815,25 to R 34 085 during June y July
Based upon to the price in Kempton Park (cities & towns), this has gone up considerably in the last 6 months. The average price during our first sample month during February, is R 1 293 300. During March the price went through a considerable rise reaching R 1 995 027. In the following two months the average price has remained the same with regard to the previous two months from R 1 644 163,5 to R 1 662 495,5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 85 %, going from R 1 653 329,5 to R 1 412 802,5 in June and July.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 1 314 019 they are 62 % more affordable than the average price for Kempton Park. The properties with the highest average price have 4 bedrooms, Their price is 124 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 430 800.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 7 829 / m², with an average R 9 154 / m² price in Kempton Park. The properties with the highest average prices have 2 bedrooms. They are 9 % more expensive than the average followed by properties with 1 bedroom with a price at R 9 228 / m².
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of R 1 314 019 it is 66 % cheaper than the average price in Kempton Park. "Apartment" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Land". At a price of R 11 239 143 it is 835 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Flat" at an average cost of R 6 248 / m² followed by "House" priced at R 8 017 / m². "Land" is the most costly type of property with a R 14 340 / m² cost followed by "Townhouse" with an average price of R 10 213 / m².