The prices in real estate in Glencoe, 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 Glencoe has had a strong decrease during the last 6 months. In November, the average price per m² was R 802. In the following month the price per m² decreased considerably to R 652. In the following two months the price per m² has barely changed, going from R 727 to R 752 per m². The price per m² has had a considerable deflation of 73 % 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 739,5 to R 539,5 during March, and April.
Based upon to the price in Glencoe (cities & towns), this has gone up in the last 6 months. The average price for November is R 1 080 000. During December the price had a considerable reduction till R 883 333. During the following two months (January, February) the price has had an average incrementation from R 981 666,5 to R 1 084 000. Based on an analysis of the first four prices and the last two months the average price has risen strongly 133 % 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 1 340 667 they are 12 % more affordable than the average price for Glencoe. The properties with the highest average price have 1 bedroom, Their price is 85 % more costly than the average. After that we have properties with 2 bedrooms priced at R 1 180 426.
With regard to the average price per m² , those properties with 2 bedrooms are the most costly ones at a cost of R 1 180 426 / m², with an average R 484 / m² price in Glencoe. The properties with the highest average prices have 1 bedroom. They are 512982 % more expensive than the average followed by properties with 2 bedrooms with a price at R 1 180 426 / m².