The prices in real estate in Mossel Bay, in the Western Cape region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per m² in Mossel Bay has increased strongly during the last 6 months. In January, the average price per m² was R 15 183. In the following month the price per m² increased considerably to R 58 321. The price for the following two months in (March, April) had a considerable increment of 164 %. The price per m² has had a considerable deflation of 29 % 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 48 429,25 to R 13 865 during May, and June.
Based upon to the price in Mossel Bay (cities & towns), this has gone up in the last 6 months. In our first sample month during January, the average price is R 3 031 677. In February This price remains at R 3 048 377. In the following two months the average price has remained the same with regard to the previous two months from R 3 040 027 to R 3 052 134. Based on an analysis of the first four prices and the last two months the average price has gone up 111 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of R 3 457 835 they are 47 % more affordable than the average price for Mossel Bay. The properties with the highest average price have 4 bedrooms, Their price is 37 % more costly than the average. After that we have properties with 3 bedrooms priced at R 3 111 531.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 14 083 / m², with an average R 14 817 / m² price in Mossel Bay. The properties with the highest average prices have 1 bedroom. They are 14697 % more expensive than the average followed by properties with 2 bedrooms with a price at R 17 969 / m².
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of R 3 457 835 it is 65 % cheaper than the average price in Mossel Bay. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Farm" followed by "Commercial". At a price of R 5 330 000 it is 9767 % 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 14 200 / m² followed by "Townhouse" priced at R 15 708 / m². "Farm" is the most costly type of property with a R 341 200 000 / m² cost followed by "Commercial" with an average price of R 5 330 000 / m².