The prices in real estate in Mossel Bay, 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 Mossel Bay has fallen in the last 6 months. In October, the average price per m² was R 16 661. In November this price pretty much remained the same at a value of R 16 811 per m². In the following two months the price per m² has barely changed, going from R 16 736 to R 16 415 per m². The price per m² has had a considerable deflation of 81 % 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 16 575,5 to R 13 371 during February, and March.
Based upon to the price in Mossel Bay (cities & towns), these have remained the same in the last 6 months. In our first sample month during October, the average price is R 3 460 925. In November This price remains at R 3 337 200. During the following two months (December, January) the price has had an average incrementation from R 3 399 062,5 to R 3 578 606,5. 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 3 488 834,5 and R 3 600 903,5 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 3 481 994 they are 60 % more affordable than the average price for Mossel Bay. The properties with the highest average price have 4 bedrooms, Their price is 44 % more costly than the average. After that we have properties with 3 bedrooms priced at R 3 327 818.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of R 8 600 / m², with an average R 10 032 / m² price in Mossel Bay. The properties with the highest average prices have 2 bedrooms. They are 66 % more expensive than the average followed by properties with 1 bedroom with a price at R 16 002 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 3 481 994 it is 31 % cheaper than the average price in Mossel Bay. "House" is seen as the second most affordable property type. The dearest property type is "Farm" followed by "Townhouse". At a price of R 5 661 747 it is 9495 % 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 8 698 / m² followed by "Townhouse" priced at R 13 057 / m². "Farm" is the most costly type of property with a R 334 105 975 / m² cost followed by "Commercial" with an average price of R 5 219 172 / m².