The prices in real estate in Hillcrest, 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 Hillcrest has fallen in the last 6 months. In October, the average price per m² was R 13 602. In the following month the price per m² increased to R 14 567. The price for the following two months in (December, January) decreased 93 % with regard to the prior two months. The price per m² has had a considerable deflation of 65 % 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 13 600,25 to R 8 784,5 during February, and March.
Based upon to the price in Hillcrest (cities & towns), this has gone downing the last 6 months. In our first sample month during October, the average price is R 3 434 541. In November This price remains at R 3 395 416. During the following two months (December, January) the average price fell 91 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 94 %, going from R 3 262 146,5 to R 3 073 128 in February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 3 220 081 they are 70 % more affordable than the average price for Hillcrest. The properties with the highest average price have 4 bedrooms, Their price is 35 % more costly than the average. After that we have properties with 3 bedrooms priced at R 2 688 845.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 7 454 / m², with an average R 8 184 / m² price in Hillcrest. The properties with the highest average prices have 1 bedroom. They are 162 % more expensive than the average followed by properties with 2 bedrooms with a price at R 16 875 / m².
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of R 3 220 081 it is 62 % cheaper than the average price in Hillcrest. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Townhouse". At a price of R 2 371 226 it is 36 % 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 5 802 / m² followed by "Townhouse" priced at R 10 546 / m². "Office" is the most costly type of property with a R 1 979 548 / m² cost followed by "Commercial" with an average price of R 1 225 504 / m².