The prices in real estate in Melville, in the Kwazulu-natal 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 Melville has had a strong decrease during the last 6 months. In November, the average price per m² was R 5 594. In the following month the price per m² increased considerably to R 6 952. The price for the following two months in (January, February) had a considerable decrease of 13 with regard to the prior two months. The price per m² has had a considerable increase of 160 % 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 3 559,5 to R 5 688 during March, and April.
Based upon to the price in Melville (cities & towns), this has fallen considerably in the last 6 months. The price in November is R 1 683 800, rising in December till R 1 859 750. During the following two months (January, February) the average price had a considerable reduction of 24 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 183 % during the last two months.