The prices in real estate in Klerksdorp, in the North West 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 Klerksdorp has had a strong decrease during the last 6 months. In October, the average price per m² was R 3 189. In the following month the price per m² decreased considerably to R 2 399. The price for the following two months in (December, January) had a considerable decrease of 65 with regard to the prior two months. The price per m² has had a considerable deflation of 71 % 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 2 302 to R 1 643 during February, and March.
Based upon to the price in Klerksdorp (cities & towns), this has gone downing the last 6 months. In our first sample month during October, the average price is R 1 246 713. In November This price remains at R 1 197 506. During the following two months (December, January) the average price fell 87 % 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 91 %, going from R 1 143 206,25 to R 1 040 525 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 1 044 289 they are 65 % more affordable than the average price for Klerksdorp. The properties with the highest average price have 4 bedrooms, Their price is 36 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 039 124.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of R 1 197 / m², with an average R 1 595 / m² price in Klerksdorp. The properties with the highest average prices have 2 bedrooms. They are 238 % more expensive than the average followed by properties with 1 bedroom with a price at R 4 959 / m².
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of R 1 044 289 it is 68 % cheaper than the average price in Klerksdorp. "Apartment" is seen as the second most affordable property type. The dearest property type is "Farm" followed by "Commercial". At a price of R 2 877 688 it is 275 % 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 1 271 / m² followed by "House" priced at R 1 300 / m². "Farm" is the most costly type of property with a R 3 916 125 / m² cost followed by "Commercial" with an average price of R 2 877 688 / m².