The prices in real estate in Cullinan, 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 Cullinan has had a strong decrease during the last 6 months. In October, the average price per m² was R 5 683. In the following month the price per m² decreased considerably to R 4 072. The price for the following two months in (December, January) had a considerable decrease of 63 with regard to the prior two months. The price per m² has increased 110 % 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 3 967 to R 4 347 during February, and March.
Based upon to the price in Cullinan (cities & towns), this has gone downing the last 6 months. In our first sample month during October, the average price is R 1 875 630. In November This price remains at R 1 784 158. During the following two months (December, January) the average price fell 94 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of R 1 779 182,75 and R 1 825 876 between February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 1 842 406 they are 63 % more affordable than the average price for Cullinan. The properties with the lowest average price have 4 bedrooms, Their price is 7 % cheaper than the average. After that we have properties with 3 bedrooms priced at R 1 687 401.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 4 478 / m², with an average R 4 750 / m² price in Cullinan. The properties with the highest average prices have 1 bedroom. They are 95 % more expensive than the average followed by properties with 2 bedrooms with a price at R 8 290 / m².
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of R 1 842 406 it is 41 % cheaper than the average price in Cullinan. "House" is seen as the second most affordable property type. The dearest property type is "Farm" followed by "Apartment". At a price of R 2 208 635 it is 112 % 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 5 187 / m² followed by "Farm" priced at R 7 912 / m². "Apartment" is the most costly type of property with a R 1 539 075 / m² cost followed by "Townhouse" with an average price of R 10 530 / m².