The prices in real estate in Ficksburg, in the Free State 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 Ficksburg has had a strong decrease during the last 6 months. In October, the average price per m² was R 3 482. In the following month the price per m² increased to R 3 804. The price for the following two months in (December, January) had a considerable decrease of 60 with regard to the prior two months. The price per m² has had a considerable deflation of 64 % 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 2 906,25 to R 1 869,5 during February, and March.
Based upon to the price in Ficksburg (cities & towns), this has gone up considerably in the last 6 months. The average price during our first sample month during October, is R 1 034 379. During November the price went through a considerable rise reaching R 1 250 320. During the following two months (December, January) the average price had a considerable increase of 118 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has gone up 112 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 1 356 889 they are 80 % more affordable than the average price for Ficksburg. The properties with the lowest average price have 4 bedrooms, Their price is 5 % cheaper than the average. After that we have properties with 3 bedrooms priced at R 1 154 159.
With regard to the average price per m² , those properties with 1 bedroom are the cheapest ones at a cost of R 1 569 / m², with an average R 2 106 / m² price in Ficksburg. The properties with the highest average prices have 2 bedrooms. They are 224 % more expensive than the average followed by properties with 4 bedrooms with a price at R 2 969 / m².
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of R 1 356 889 it is 54 % cheaper than the average price in Ficksburg. "House" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of R 1 279 242 it is 142 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Flat" at an average cost of R 246 / m² followed by "House" priced at R 3 732 / m². "Commercial" is the most costly type of property with a R 1 582 468 / m² cost followed by "House" with an average price of R 3 732 / m².