The prices in real estate in Napier, 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 Napier has increased strongly during the last 6 months. In November, the average price per m² was R 6 256. In the following month the price per m² decreased to R 5 812. In the following two months the price per m² has increased 108 %, going from R 6 034 to R 6 504 per m². The price per m² has had a considerable increase of 195 % 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 6 269 to R 12 199 during March, and April.
Based upon to the price in Napier (cities & towns), these have remained the same in the last 6 months. In our first sample month during November, the average price is R 2 162 353. In December This price remains at R 2 164 688. In the following two months the average price has remained the same with regard to the previous two months from R 2 163 520,5 to R 2 133 291,5. Based on an analysis of the first four prices and the last two months the average price has gone up 112 % during the last two months.
The graph showing the average price for bedrooms displays the property with the lowest price has 1 bedroom. It is 68 % cheaper than the average price of R 747 968 in Napier. Based on the bedrooms values, properties with the lowest prices are those with 1 bedroom. They are 68 % more affordable than the average aforementioned.
With regard to the average prices per m² those properties with 1 bedroom are 48 % cheaper than the average price of (R 7 556 / m²) in Napier. Properties with the most affordable price based upon to the number of bedrooms / m² are those with 1 bedroom. They are 48 % cheaper than the average value aforementioned.