The prices in real estate in Piet Retief, in the Mpumalanga 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 Piet Retief has had a strong decrease during the last 6 months. In November, the average price per m² was R 3 155. In December this price pretty much remained the same at a value of R 3 140 per m². The price for the following two months in (January, February) had a considerable decrease of 54 with regard to the prior two months. The price per m² has had a considerable increase of 126 % 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 2 427 to R 3 055,5 during March, and April.
Based upon to the price in Piet Retief (cities & towns), this has gone up considerably in the last 6 months. In our first sample month during November, the average price is R 1 633 000. In December This price remains at R 1 589 190. During the following two months (January, February) the average price had a considerable increase of 143 % 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 131 % during the last two months.