The prices in real estate in La Mercy, in the Kwazulu-natal region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per m² in La Mercy has increased strongly during the last 6 months. In October, the average price per m² was R 5 340. In the following month the price per m² increased considerably to R 7 646. The price for the following two months in (December, January) had a considerable increment of 237 %. The price per m² has had a considerable increase of 151 % 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 10 949,5 to R 16 570,5 during February, and March.
Based upon to the price in La Mercy (cities & towns), this has gone up in the last 6 months. The price in October is R 2 369 706, rising in November till R 2 622 916. During the following two months (December, January) the average price had a considerable increase of 121 % 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 89 %, going from R 2 753 711 to R 2 448 065,5 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 2 260 714 they are 52 % more affordable than the average price for La Mercy. The properties with the highest average price have 4 bedrooms, Their price is 24 % more costly than the average. After that we have properties with 3 bedrooms priced at R 2 382 083.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 7 183 / m², with an average R 15 626 / m² price in La Mercy. The properties with the highest average prices have 1 bedroom. They are 7 % more expensive than the average followed by properties with 2 bedrooms with a price at R 16 095 / m².
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of R 2 260 714 it is 38 % cheaper than the average price in La Mercy. "Office" is seen as the second most affordable property type. The dearest property type is "House" followed by "Flat". At a price of R 2 525 396 it is 15 % 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 6 065 / m² followed by "Townhouse" priced at R 11 277 / m². "Flat" is the most costly type of property with a R 2 525 396 / m² cost followed by "Land" with an average price of R 1 402 434 / m².