The prices in real estate in Balfour, in the Mpumalanga 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 Balfour has had a strong decrease during the last 6 months. In November, the average price per m² was R 1 720. In the following month the price per m² decreased considerably to R 279. The price for the following two months in (January, February) had a considerable decrease of 14 with regard to the prior two months. The price per m² has had a considerable deflation of 0 % 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 569,5 to during March, and April.
Based upon to the price in Balfour (cities & towns), this has fallen considerably in the last 6 months. In our first sample month during November, the average price is R 769 500. In December This price remains at R 796 000. During the following two months (January, February) the average price had a considerable reduction of 51 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from R 590 375 to , which means a 0 % fall.