The prices in real estate in Vanderbijlpark, 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 Vanderbijlpark has had a strong decrease during the last 6 months. In October, the average price per m² was R 23 603. In November this price pretty much remained the same at a value of R 23 291 per m². The price for the following two months in (December, January) had a considerable decrease of 15 with regard to the prior two months. The price per m² has had a considerable deflation of 27 % 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 13 519,25 to R 3 670,5 during February, and March.
Based upon to the price in Vanderbijlpark (cities & towns), this has gone up considerably in the last 6 months. The price in October is R 1 028 534, rising in November till R 1 165 802. During the following two months (December, January) the price has had an average incrementation from R 1 097 168 to R 1 258 051. Based on an analysis of the first four prices and the last two months the average price has risen strongly 140 % 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 1 878 831 they are 74 % more affordable than the average price for Vanderbijlpark. The properties with the highest average price have 4 bedrooms, Their price is 77 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 217 487.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 2 133 / m², with an average R 3 275 / m² price in Vanderbijlpark. The properties with the highest average prices have 1 bedroom. They are 283 % more expensive than the average followed by properties with 2 bedrooms with a price at R 4 007 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 1 878 831 it is 72 % cheaper than the average price in Vanderbijlpark. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Land". At a price of R 2 683 000 it is 122 % 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 2 523 / m² followed by "Commercial" priced at R 2 905 / m². "Townhouse" is the most costly type of property with a R 7 219 / m² cost followed by "Apartment" with an average price of R 6 087 / m².