The prices in real estate in Kathu, in the Northern Cape 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 Kathu has had a strong decrease during the last 6 months. In November, the average price per m² was R 10 820. In the following month the price per m² decreased considerably to R 8 988. The price for the following two months in (January, February) had a considerable decrease of 72 with regard to the prior two months. The price per m² has barely changed in the last two months compared to the average price of the previous four months going from an average price of R 8 540,25 to R 8 159 during March y April
Based upon to the price in Kathu (cities & towns), this has gone up considerably in the last 6 months. The average price for November is R 2 837 586. During December the price had a considerable reduction till R 2 345 227. During the following two months (January, February) the average price had a considerable increase of 164 % 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 risen strongly 154 % 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 5 085 455 they are 85 % more affordable than the average price for Kathu. The properties with the lowest average price have 4 bedrooms, Their price is 20 % cheaper than the average. After that we have properties with 3 bedrooms priced at R 3 459 529.
With regard to the average price per m² , those properties with 3 bedrooms are the most costly ones at a cost of R 8 006 / m², with an average R 7 930 / m² price in Kathu. The properties with the highest average prices have 1 bedroom. They are 24722 % more expensive than the average followed by properties with 4 bedrooms with a price at R 10 457 / m².
The graph displaying the average prices displays the property type "Commercial Property" as the most affordable one. At an cost of R 5 085 455 it is 73 % cheaper than the average price in Kathu. "Flat" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Apartment". At a price of R 1 549 188 it is 31 % more affordable than the average price.
According to the average cost per m², the cheapest property type is "Flat" at an average cost of R 7 050 / m² followed by "Commercial Property" priced at R 8 272 / m². "Apartment" is the most costly type of property with a R 1 549 188 / m² cost followed by "House" with an average price of R 463 718 / m².