The prices in real estate in Hibberdene, 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 Hibberdene has had a strong decrease during the last 6 months. In October, the average price per m² was R 7 748. In November this price pretty much remained the same at a value of R 8 007 per m². The price for the following two months in (December, January) had a considerable decrease of 61 with regard to the prior two months. The price per m² has had a considerable deflation of 80 % 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 6 338,5 to R 5 087 during February, and March.
Based upon to the price in Hibberdene (cities & towns), this has gone up considerably in the last 6 months. In our first sample month during October, the average price is R 793 775. In November This price remains at R 799 725. During the following two months (December, January) the average price had a considerable increase of 120 % 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 105 % 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 917 364 they are 45 % more affordable than the average price for Hibberdene. The properties with the highest average price have 4 bedrooms, Their price is 94 % more costly than the average. After that we have properties with 3 bedrooms priced at R 888 960.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 1 670 / m², with an average R 3 983 / m² price in Hibberdene. The properties with the highest average prices have 1 bedroom. They are 207 % more expensive than the average followed by properties with 2 bedrooms with a price at R 5 751 / m².
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of R 917 364 it is 70 % cheaper than the average price in Hibberdene. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Townhouse". At a price of R 784 867 it is 47 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of R 2 500 / m² followed by "Townhouse" priced at R 3 765 / m². "Land" is the most costly type of property with a R 61 048 / m² cost followed by "Apartment" with an average price of R 9 155 / m².