The prices in real estate in Riebeeck Valley, in the Western 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 Riebeeck Valley has increased strongly during the last 6 months. In October, the average price per m² was R 4 033. In the following month the price per m² increased considerably to R 9 780. The price for the following two months in (December, January) had a considerable increment of 145 %. The price per m² has had a considerable deflation of 45 % 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 8 475,25 to R 3 777,5 during February, and March.
Based upon to the price in Riebeeck Valley (cities & towns), this has gone up considerably in the last 6 months. The average price during our first sample month during October, is R 2 606 250. During November the price went through a considerable rise reaching R 4 201 000. During the following two months (December, January) the average price had a considerable increase of 115 % 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 3 663 507 to R 1 586 750, which means a 43 % fall.