The prices in real estate in Queensburgh, in the Kwazulu-natal 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 Queensburgh has had a strong decrease during the last 6 months. In October, the average price per m² was R 9 368. In the following month the price per m² decreased considerably to R 7 724. The price for the following two months in (December, January) had a considerable decrease of 72 with regard to the prior two months. The price per m² has decreased 95 % 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 7 337,25 to R 6 966,5 during February, and March.
Based upon to the price in Queensburgh (cities & towns), these have remained the same in the last 6 months. In our first sample month during October, the average price is R 1 585 200. In November This price remains at R 1 611 875. In the following two months the average price has remained the same with regard to the previous two months from R 1 598 537,5 to R 1 539 237,5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 95 %, going from R 1 568 887,5 to R 1 487 981,5 in February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 1 472 744 they are 70 % more affordable than the average price for Queensburgh. The properties with the highest average price have 4 bedrooms, Their price is 39 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 379 992.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 4 733 / m², with an average R 7 300 / m² price in Queensburgh. The properties with the highest average prices have 1 bedroom. They are 67 % more expensive than the average followed by properties with 2 bedrooms with a price at R 11 612 / m².
The graph displaying the average prices displays the property type "Office" as the most affordable one. At an cost of R 1 472 744 it is 46 % cheaper than the average price in Queensburgh. "Land" is seen as the second most affordable property type. The dearest property type is "Apartment" followed by "Townhouse". At a price of R 1 493 438 it is 14 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Land" at an average cost of R 423 / m² followed by "Apartment" priced at R 6 915 / m². "House" is the most costly type of property with a R 12 692 / m² cost followed by "Townhouse" with an average price of R 11 070 / m².