The prices in real estate in Polokwane, in the Limpopo region have remained the same in the last couple of months. The real estate prices for second hand homes have remained in this city.
The price per m² in Polokwane has remained the same in the last 6 months. In December, the average price per m² was R 1 270 092. In the following month the price per m² decreased considerably to R 297 353. The price for the following two months in (February, March) had a considerable increment of 189 %. 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 1 130 681,5 to R 1 425 675 during April, and May.
Based upon to the price in Polokwane (cities & towns), this has gone up in the last 6 months. In our first sample month during December, the average price is R 2 317 234. In January This price remains at R 2 418 671. During the following two months (February, March) the price has had an average incrementation from R 2 367 952,5 to R 2 551 373. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of R 2 459 662,75 and R 2 572 678,5 between April and May.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of R 2 575 347 they are 62 % more affordable than the average price for Polokwane. The properties with the highest average price have 4 bedrooms, Their price is 34 % more costly than the average. After that we have properties with 1 bedroom priced at R 3 104 593.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 5 395 / m², with an average R 909 981 / m² price in Polokwane. The properties with the highest average prices have 1 bedroom. They are 238 % more expensive than the average followed by properties with 2 bedrooms with a price at R 9 091 / m².
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of R 2 575 347 it is 51 % cheaper than the average price in Polokwane. "House" is seen as the second most affordable property type. The dearest property type is "Farm" followed by "Commercial". At a price of R 5 700 038 it is 192 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Townhouse" at an average cost of R 10 331 / m² followed by "House" priced at R 881 163 / m². "Farm" is the most costly type of property with a R 7 526 000 / m² cost followed by "Land" with an average price of R 3 082 439 / m².