Property prices for sale in Richards Bay (Kwazulu-natal)
The prices in real estate in Richards Bay, in the Kwazulu-natal region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per m² in Richards Bay has fallen in the last 6 months. In October, the average price per m² was R 9 697. In November this price pretty much remained the same at a value of R 9 973 per m². The price for the following two months in (December, January) decreased 94 % with regard to the prior two months. The price per m² has had a considerable deflation of 73 % 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 9 515,5 to R 6 969,5 during February, and March.
Based upon to the price in Richards Bay (cities & towns), this has gone up in the last 6 months. In our first sample month during October, the average price is R 1 598 625. In November This price remains at R 1 550 900. During the following two months (December, January) the price has had an average incrementation from R 1 574 762,5 to R 1 745 826. Based on an analysis of the first four prices and the last two months the average price has risen strongly 121 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 2 126 123 they are 65 % more affordable than the average price for Richards Bay. The properties with the highest average price have 4 bedrooms, Their price is 28 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 870 113.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 3 145 / m², with an average R 4 634 / m² price in Richards Bay. The properties with the highest average prices have 2 bedrooms. They are 29 % more expensive than the average followed by properties with 3 bedrooms with a price at R 4 300 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 2 126 123 it is 60 % cheaper than the average price in Richards Bay. "Flat" is seen as the second most affordable property type. The dearest property type is "Office" followed by "House". At a price of R 2 231 113 it is 42 % 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 3 222 / m² followed by "House" priced at R 3 487 / m². "Office" is the most costly type of property with a R 15 019 / m² cost followed by "Commercial" with an average price of R 9 754 / m².
