The prices in real estate in Knysna, in the Western 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 Knysna has had a strong decrease during the last 6 months. In October, the average price per m² was R 18 403. In the following month the price per m² decreased to R 17 219. The price for the following two months in (December, January) had a considerable decrease of 82 with regard to the prior two months. The price per m² has had a considerable deflation of 76 % 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 16 213,25 to R 12 321,5 during February, and March.
Based upon to the price in Knysna (cities & towns), this has gone up in the last 6 months. In our first sample month during October, the average price is R 5 050 888. In November This price remains at R 5 224 313. During the following two months (December, January) the price has had an average incrementation from R 5 137 600,5 to R 5 741 288. Based on an analysis of the first four prices and the last two months the average price has gone up 107 % 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 5 954 386 they are 79 % more affordable than the average price for Knysna. The properties with the highest average price have 4 bedrooms, Their price is 14 % more costly than the average. After that we have properties with 3 bedrooms priced at R 4 730 597.
With regard to the average price per m² , those properties with 4 bedrooms are the most costly ones at a cost of R 16 439 / m², with an average R 11 780 / m² price in Knysna. The properties with the highest average prices have 1 bedroom. They are 116 % more expensive than the average followed by properties with 2 bedrooms with a price at R 21 031 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 5 954 386 it is 67 % cheaper than the average price in Knysna. "Flat" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of R 6 082 183 it is 22 % more expensive than the average price.
According to the average cost per m², the most expensive property type would be "Townhouse" at an average cost of R 12 159 / m² followed by "House" priced at R 14 778 / m². "Commercial" is the most costly type of property with a R 7 239 403 / m² cost followed by "Flat" with an average price of R 1 801 624 / m².