The prices in real estate in Montagu, 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 Montagu has had a strong decrease during the last 6 months. In October, the average price per m² was R 10 313. In the following month the price per m² decreased to R 8 784. The price for the following two months in (December, January) had a considerable decrease of 54 with regard to the prior two months. The price per m² has had a considerable deflation of 62 % 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 7 349,75 to R 4 531,5 during February, and March.
Based upon to the price in Montagu (cities & towns), this has gone up in the last 6 months. In our first sample month during October, the average price is R 2 610 560. In November This price remains at R 2 634 941. During the following two months (December, January) the average price fell 92 % 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 137 % during the last two months.