The prices in real estate in Milnerton, 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 Milnerton has fallen in the last 6 months. In February, the average price per m² was R 377 265. In the following month the price per m² decreased to R 335 581. The price for the following two months in (April, May) had a considerable increment of 143 %. The price per m² has had a considerable deflation of 36 % 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 433 733,25 to R 156 726 during June, and July.
Based upon to the price in Milnerton (cities & towns), this has gone up in the last 6 months. The average price during our first sample month during February, is R 2 323 025. During March the price went through a considerable rise reaching R 2 817 663. During the following two months (April, May) the average price fell 93 % with regard to the previous two months. 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 2 483 270,5 and R 2 485 332,5 between June and July.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 2 495 863 they are 47 % more affordable than the average price for Milnerton. The properties with the highest average price have 4 bedrooms, Their price is 63 % more costly than the average. After that we have properties with 3 bedrooms priced at R 2 654 663.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of R 20 222 / m², with an average R 20 225 / m² price in Milnerton. The properties with the highest average prices have 1 bedroom. They are 20 % more expensive than the average followed by properties with 2 bedrooms with a price at R 21 777 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 2 495 863 it is 17 % cheaper than the average price in Milnerton. "Flat" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Land". At a price of R 4 084 011 it is 212 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Commercial" at an average cost of R 14 786 / m² followed by "House" priced at R 18 966 / m². "Land" is the most costly type of property with a R 1 556 194 / m² cost followed by "Apartment" with an average price of R 23 540 / m².