The prices in real estate in Port Nolloth, in the Northern 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 Port Nolloth has increased strongly during the last 6 months. In November, the average price per m² was R 4 156. In the following month the price per m² increased considerably to R 9 883. The price for the following two months in (January, February) had a considerable increment of 138 %. The price per m² has had a considerable deflation of 76 % 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 8 356,25 to R 6 364,5 during March, and April.
Based upon to the price in Port Nolloth (cities & towns), this has gone up considerably in the last 6 months. The average price during our first sample month during November, is R 1 518 333. During December the price went through a considerable rise reaching R 2 513 667. During the following two months (January, February) the average price had a considerable increase of 122 % 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 2 239 583,25 to R 1 803 216,5, which means a 81 % fall.