The prices in real estate in Bronkhorstspruit, 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 Bronkhorstspruit has had a strong decrease during the last 6 months. In October, the average price per m² was R 6 760. In the following month the price per m² decreased to R 5 976. The price for the following two months in (December, January) had a considerable decrease of 40 with regard to the prior two months. The price per m² has had a considerable deflation of 35 % 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 4 449,5 to R 1 574 during February, and March.
Based upon to the price in Bronkhorstspruit (cities & towns), this has fallen considerably in the last 6 months. In our first sample month during October, the average price is R 2 372 794. In November This price remains at R 2 316 431. During the following two months (December, January) the average price had a considerable reduction of 59 % 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 1 869 219 to R 1 402 445,5, which means a 75 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of R 1 409 078 they are 50 % more affordable than the average price for Bronkhorstspruit. The properties with the highest average price have 4 bedrooms, Their price is 46 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 489 970.
With regard to the average price per m² , those properties with 4 bedrooms are the most costly ones at a cost of R 6 477 / m², with an average R 1 650 / m² price in Bronkhorstspruit. The properties with the highest average prices have 1 bedroom. They are 458 % more expensive than the average followed by properties with 2 bedrooms with a price at R 7 372 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 1 409 078 it is 63 % cheaper than the average price in Bronkhorstspruit. "Land" is seen as the second most affordable property type. The dearest property type is "Farm" followed by "Commercial". At a price of R 3 203 185 it is 178 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Land" at an average cost of R 552 / m² followed by "Commercial" priced at R 2 202 / m². "House" is the most costly type of property with a R 6 792 / m² cost followed by "Apartment" with an average price of R 6 479 / m².