The prices in real estate in Brits, in the North West 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 Brits has had a strong decrease during the last 6 months. In October, the average price per m² was R 4 245. In the following month the price per m² decreased considerably to R 3 505. The price for the following two months in (December, January) had a considerable decrease of 70 with regard to the prior two months. The price per m² has decreased 89 % 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 3 285,5 to R 2 939,5 during February, and March.
Based upon to the price in Brits (cities & towns), this has gone downing the last 6 months. In our first sample month during October, the average price is R 1 693 522. In November This price remains at R 1 648 117. During the following two months (December, January) the average price fell 88 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 92 %, going from R 1 569 850,5 to R 1 441 533 in February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of R 1 451 803 they are 58 % more affordable than the average price for Brits. The properties with the highest average price have 1 bedroom, Their price is 1126 % more costly than the average. After that we have properties with 4 bedrooms priced at R 2 150 400.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of R 2 197 / m², with an average R 3 083 / m² price in Brits. The properties with the highest average prices have 1 bedroom. They are 6001 % more expensive than the average followed by properties with 2 bedrooms with a price at R 6 053 / m².
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of R 1 451 803 it is 72 % cheaper than the average price in Brits. "House" is seen as the second most affordable property type. The dearest property type is "Farm" followed by "Apartment". At a price of R 1 753 113 it is 211 % 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 2 026 / m² followed by "Apartment" priced at R 6 421 / m². "Farm" is the most costly type of property with a R 12 600 / m² cost followed by "Flat" with an average price of R 6 960 / m².