The prices in real estate in Chatsworth, in the Kwazulu-natal 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 Chatsworth has had a strong decrease during the last 6 months. In November, the average price per m² was R 5 568. In the following month the price per m² decreased considerably to R 4 032. The price for the following two months in (January, February) had a considerable decrease of 58 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 3 803,75 to R 3 397 during March, and April.
Based upon to the price in Chatsworth (cities & towns), this has gone up in the last 6 months. In our first sample month during November, the average price is R 1 088 425. In December This price remains at R 1 114 023. During the following two months (January, February) the price has had an average incrementation from R 1 101 224 to R 1 233 729. Based on an analysis of the first four prices and the last two months the average price has gone up 108 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of R 1 318 500 they are 46 % more affordable than the average price for Chatsworth. The properties with the lowest average price have 3 bedrooms, Their price is 8 % cheaper than the average. After that we have properties with 4 bedrooms priced at R 1 206 310.
With regard to the average price per m² , those properties with 3 bedrooms are the most costly ones at a cost of R 4 168 / m², with an average R 3 486 / m² price in Chatsworth. The properties with the highest average prices have 1 bedroom. They are 31918 % more expensive than the average followed by properties with 2 bedrooms with a price at R 8 891 / m².
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of R 1 318 500 it is 90 % cheaper than the average price in Chatsworth. "Flat" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of R 1 181 220 it is 276 % more expensive than the average price.
According to the average cost per m², the most expensive property type would be "House" at an average cost of R 4 827 / m² followed by "Apartment" priced at R 9 796 / m². "Commercial" is the most costly type of property with a R 4 955 450 / m² cost followed by "Flat" with an average price of R 599 644 / m².