The prices in real estate in Oyster Bay, in the Eastern 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 Oyster Bay has had a strong decrease during the last 6 months. In November, the average price per m² was R 2 909. In the following month the price per m² decreased to R 2 747. The price for the following two months in (January, February) had a considerable decrease of 57 with regard to the prior two months. The price per m² has had a considerable increase of 136 % 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 2 226 to R 3 017,5 during March, and April.
Based upon to the price in Oyster Bay (cities & towns), this has gone downing the last 6 months. The price in November is R 2 029 250, rising in December till R 2 141 625. During the following two months (January, February) the average price had a considerable reduction of 64 % 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 140 % during the last two months.