The prices in real estate in Kuruman, 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 Kuruman has had a strong decrease during the last 6 months. In October, the average price per m² was R 2 441. In the following month the price per m² decreased to R 2 210. In the following two months the price per m² has barely changed, going from R 2 325,5 to R 2 362 per m². The price per m² has had a considerable deflation of 67 % 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 2 343,75 to R 1 569,5 during February, and March.
Based upon to the price in Kuruman (cities & towns), this has gone downing the last 6 months. The average price for October is R 2 121 271. During November the price had a slight fall till R 1 973 714. During the following two months (December, January) the average price fell 88 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of R 1 922 499,5 and R 1 845 846,5 between February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 4 bedrooms are the most costly ones. At a price of R 1 861 893 they are 13 % more expensive than the average price for Kuruman. Following this ranking we find those properties with 1 at an average price of R 2 727 643. The properties with the highest average price have 3 bedrooms, Their price is 10464 % more costly than the average. After that we have properties with 2 bedrooms priced at R 4 394 029.
With regard to the average price per m² , those properties with 4 bedrooms are the most costly ones at a cost of R 1 764 / m², with an average R 1 568 / m² price in Kuruman. The properties with the highest average prices have 1 bedroom. They are 173857 % more expensive than the average followed by properties with 3 bedrooms with a price at R 276 229 / m².
The graph displaying the average prices displays the property type "Farm" as the most costly one. At an cost of R 1 861 893 it is 3 % more expensive than the average price in Kuruman. "House" is seen as the second dearest property type. The dearest property type is "House" followed by "Farm". At a price of R 1 914 138 it is 13 % more expensive than the average price.
According to the average cost per m², the most expensive property type would be "House" at an average cost of R 2 037 / m² followed by "Farm" priced at R 6 286 / m². "Farm" is the most costly type of property with a R 6 286 / m² cost followed by "House" with an average price of R 2 037 / m².