The prices in real estate in Mtunzini, in the Kwazulu-natal 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 Mtunzini has fallen in the last 6 months. In October, the average price per m² was R 5 981. In November this price pretty much remained the same at a value of R 6 274 per m². The price for the following two months in (December, January) decreased 88 % with regard to the prior two months. The price per m² has decreased 88 % 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 5 748,5 to R 5 058 during February, and March.
Based upon to the price in Mtunzini (cities & towns), this has fallen considerably in the last 6 months. The average price for October is R 3 525 122. During November the price had a slight fall till R 3 206 471. During the following two months (December, January) the average price fell 89 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from R 3 187 768,25 to R 2 466 873,5, which means a 77 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of R 2 416 607 they are 70 % more affordable than the average price for Mtunzini. The properties with the highest average price have 4 bedrooms, Their price is 95 % more costly than the average. After that we have properties with 1 bedroom priced at R 3 312 654.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 4 527 / m², with an average R 5 337 / m² price in Mtunzini. The properties with the highest average prices have 1 bedroom. They are 61970 % more expensive than the average followed by properties with 3 bedrooms with a price at R 8 136 / m².
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of R 2 416 607 it is 60 % cheaper than the average price in Mtunzini. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Townhouse". At a price of R 1 636 987 it is 68 % more expensive than the average price.
According to the average cost per m², the most expensive property type would be "House" at an average cost of R 6 180 / m² followed by "Apartment" priced at R 7 109 / m². "Flat" is the most costly type of property with a R 799 571 / m² cost followed by "Commercial Property" with an average price of R 527 578 / m².