The prices in real estate in Vereeniging, 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 Vereeniging has increased strongly during the last 6 months. In January, the average price per m² was R 238 365. In the following month the price per m² increased considerably to R 717 645. The price for the following two months in (March, April) had a considerable increment of 172 %. The price per m² has had a considerable deflation of 76 % 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 650 887 to R 493 471 during May, and June.
Based upon to the price in Vereeniging (cities & towns), this has fallen considerably in the last 6 months. The average price for January is R 1 445 581. During February the price had a considerable reduction till R 1 175 726. During the following two months (March, April) the average price fell 86 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of R 1 220 994,25 and R 1 258 746 between May and June.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of R 1 234 059 they are 48 % more affordable than the average price for Vereeniging. The properties with the highest average price have 4 bedrooms, Their price is 31 % more costly than the average. After that we have properties with 1 bedroom priced at R 1 205 324.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 3 593 / m², with an average R 684 816 / m² price in Vereeniging. The properties with the highest average prices have 1 bedroom. They are 76 % more expensive than the average followed by properties with 2 bedrooms with a price at R 8 118 / m².
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of R 1 234 059 it is 62 % cheaper than the average price in Vereeniging. "Land" is seen as the second most affordable property type. The dearest property type is "Farm" followed by "House". At a price of R 1 384 034 it is 111 % 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 7 825 / m² followed by "Apartment" priced at R 7 991 / m². "Farm" is the most costly type of property with a R 2 609 889 / m² cost followed by "House" with an average price of R 815 767 / m².