The prices in real estate in Langebaan, in the Western Cape region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per m² in Langebaan has fallen in the last 6 months. In October, the average price per m² was R 16 758. In November this price pretty much remained the same at a value of R 16 127 per m². In the following two months the price per m² has barely changed, going from R 16 442,5 to R 16 134,5 per m². The price per m² has had a considerable deflation of 85 % 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 16 288,5 to R 13 770 during February, and March.
Based upon to the price in Langebaan (cities & towns), these have remained the same in the last 6 months. In our first sample month during October, the average price is R 3 569 350. In November This price remains at R 3 627 050. In the following two months the average price has remained the same with regard to the previous two months from R 3 598 200 to R 3 600 531,5. 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 3 599 365,75 and R 3 731 531,5 between 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 3 757 163 they are 65 % more affordable than the average price for Langebaan. The properties with the highest average price have 4 bedrooms, Their price is 23 % more costly than the average. After that we have properties with 3 bedrooms priced at R 3 428 263.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 9 204 / m², with an average R 10 454 / m² price in Langebaan. The properties with the highest average prices have 1 bedroom. They are 125 % more expensive than the average followed by properties with 2 bedrooms with a price at R 14 602 / m².
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of R 3 757 163 it is 71 % cheaper than the average price in Langebaan. "Flat" is seen as the second most affordable property type. The dearest property type is "Farm" followed by "House". At a price of R 3 967 100 it is 21 % 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 10 268 / m² followed by "Townhouse" priced at R 15 374 / m². "Farm" is the most costly type of property with a R 2 498 487 / m² cost followed by "Land" with an average price of R 1 094 357 / m².