The prices in real estate in Ladismith, 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 Ladismith has had a strong decrease during the last 6 months. In November, the average price per m² was R 9 722. In the following month the price per m² decreased considerably to R 7 155. The price for the following two months in (January, February) had a considerable decrease of 66 with regard to the prior two months. The price per m² has had a considerable deflation of 72 % 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 7 011,25 to R 5 053 during March, and April.
Based upon to the price in Ladismith (cities & towns), this has fallen considerably in the last 6 months. The average price for November is R 3 160 000. During December the price had a considerable reduction till R 1 468 000. During the following two months (January, February) the average price had a considerable reduction of 51 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from R 1 751 722,25 to R 1 103 375, which means a 63 % fall.