The prices in real estate in Margate, in the Kwazulu-natal region have remained the same in the last couple of months. The real estate prices for second hand homes have remained in this city.
The price per m² in Margate has remained the same in the last 6 months. In October, the average price per m² was R 8 981. In November this price pretty much remained the same at a value of R 8 858 per m². In the following two months the price per m² has barely changed, going from R 8 919,5 to R 9 045,5 per m². The price per m² has decreased 93 % 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 8 982,5 to R 8 359,5 during February, and March.
Based upon to the price in Margate (cities & towns), this has gone up in the last 6 months. The price in October is R 1 092 204, rising in November till R 1 149 875. During the following two months (December, January) the price has had an average incrementation from R 1 121 039,5 to R 1 213 564. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 94 %, going from R 1 167 301,75 to R 1 094 506,5 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 1 102 000 they are 47 % more affordable than the average price for Margate. The properties with the highest average price have 4 bedrooms, Their price is 83 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 278 450.
With regard to the average price per m² , those properties with 1 bedroom are the cheapest ones at a cost of R 7 536 / m², with an average R 7 703 / m² price in Margate. The properties with the highest average prices have 3 bedrooms. They are 12 % more expensive than the average followed by properties with 4 bedrooms with a price at R 7 946 / m².
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of R 1 102 000 it is 63 % cheaper than the average price in Margate. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of R 1 521 947 it is 230 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Townhouse" at an average cost of R 5 072 / m² followed by "House" priced at R 5 413 / m². "Commercial" is the most costly type of property with a R 666 980 / m² cost followed by "Land" with an average price of R 410 712 / m².