Payprop recently released the stats from their newly-launched rental index. The PayProp Rental Index is unique because it has access to real-time transaction data for more than 58 000 rental properties in South Africa.

Here are some of the interesting findings from the December 2011 Rental Index:

• The weighted average rental in South Africa at the end of November 2011 was R5 116. This is up from R4 797 the same month last year.
• Rentals are currently 6.6% higher than a year ago.
• Mpumalanga has the highest average rental at R6 101, followed by Limpopo at R5 571 and Gauteng at R5 465 per month.
• Mpumalanga experienced the fastest growth in average rentals, growing by a phenomenal 12.4% over the past year. Gauteng experienced the second-fastest growth at 11%.
• Average rentals in the Western Cape were R5 012 and the lowest average provincial rental was the Freestate at R3 775 per month.
• The most popular price bracket for rentals is in the R2 500 – R5 000 range. This range makes up 51% of all rental contracts and 38% of the value of all rentals.
• The >R15 000 category makes up only 2% of all rental contracts, but 12% of the total value.

Contact Terblanche Properties at (044) 695 2871 today for professional assistance so you can maximise your rental income. For more information, see what our rental services include.