The prices in real estate in Douglas, in the Northern Cape 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 Douglas has had a strong decrease during the last 6 months. In November, the average price per m² was R 3 737. In the following month the price per m² decreased considerably to R 1 429. The price for the following two months in (January, February) had a considerable decrease of 28 with regard to the prior two months. The price per m² has had a considerable deflation of 69 % 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 1 648,75 to R 1 138 during March, and April.
Based upon to the price in Douglas (cities & towns), this has fallen considerably in the last 6 months. The average price for November is R 2 562 500. During December the price had a slight fall till R 2 316 667. During the following two months (January, February) the average price had a considerable reduction of 47 % 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 1 798 958,5 to R 1 469 520, which means a 82 % fall.