The prices in real estate in Durban, in the Kwazulu-natal region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per m² in Durban has fallen in the last 6 months. In December, the average price per m² was R 476 583. In the following month the price per m² decreased considerably to R 327 974. In the following two months the price per m² has increased 107 %, going from R 402 278,5 to R 428 945 per m². The price per m² has increased 114 % 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 415 611,75 to R 474 644,5 during April, and May.
Based upon to the price in Durban (cities & towns), this has gone downing the last 6 months. The average price for December is R 1 542 487. During January the price had a slight fall till R 1 438 042. In the following two months the average price has remained the same with regard to the previous two months from R 1 490 264,5 to R 1 460 472. 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 1 475 368,25 and R 1 413 701,5 between April and May.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of R 1 490 062 they are 27 % more affordable than the average price for Durban. The properties with the highest average price have 4 bedrooms, Their price is 56 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 858 974.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 5 315 / m², with an average R 428 771 / m² price in Durban. The properties with the highest average prices have 1 bedroom. They are 161 % more expensive than the average followed by properties with 2 bedrooms with a price at R 11 681 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 1 490 062 it is 29 % cheaper than the average price in Durban. "Flat" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of R 1 956 592 it is 211 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Apartment" at an average cost of R 11 389 / m² followed by "Townhouse" priced at R 11 989 / m². "Commercial" is the most costly type of property with a R 4 595 588 / m² cost followed by "Land" with an average price of R 1 463 333 / m².