The prices in real estate in Belfast, 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 Belfast has had a strong decrease during the last 6 months. In November, the average price per m² was R 6 366. In the following month the price per m² increased considerably to R 8 774. The price for the following two months in (January, February) had a considerable decrease of 54 with regard to the prior two months. The price per m² has had a considerable deflation of 57 % 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 5 839,5 to R 3 313 during March, and April.
Based upon to the price in Belfast (cities & towns), this has gone up considerably in the last 6 months. The average price during our first sample month during November, is R 1 686 667. During December the price went through a considerable rise reaching R 2 014 000. During the following two months (January, February) the average price fell 88 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 167 % during the last two months.