The prices in real estate in Brakpan, 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 Brakpan has had a strong decrease during the last 6 months. In October, the average price per m² was R 6 377. In November this price pretty much remained the same at a value of R 6 149 per m². The price for the following two months in (December, January) had a considerable decrease of 83 with regard to the prior two months. The price per m² has had a considerable deflation of 60 % 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 5 745 to R 3 434,5 during February, and March.
Based upon to the price in Brakpan (cities & towns), these have remained the same in the last 6 months. The average price for October is R 1 158 471. During November the price had a slight fall till R 1 044 420. In the following two months the average price has remained the same with regard to the previous two months from R 1 101 445,5 to R 1 134 768. Based on an analysis of the first four prices and the last two months the average price has gone up 115 % 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 1 357 085 they are 64 % more affordable than the average price for Brakpan. The properties with the highest average price have 4 bedrooms, Their price is 50 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 168 632.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of R 1 853 / m², with an average R 2 355 / m² price in Brakpan. The properties with the highest average prices have 1 bedroom. They are 185 % more expensive than the average followed by properties with 2 bedrooms with a price at R 4 281 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 1 357 085 it is 55 % cheaper than the average price in Brakpan. "Flat" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of R 1 470 896 it is 34 % 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 1 909 / m² followed by "Townhouse" priced at R 4 232 / m². "Land" is the most costly type of property with a R 1 141 681 / m² cost followed by "Flat" with an average price of R 9 379 / m².