The prices in real estate in Southern Peninsula, in the Western Cape region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per m² in Southern Peninsula has increased during the last 6 months. In October, the average price per m² was R 8 707. In November this price pretty much remained the same at a value of R 8 999 per m². In the following two months the price per m² has increased 108 %, going from R 8 853 to R 9 550 per m². The price per m² has increased 113 % 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 9 201,5 to R 10 364 during February, and March.
Based upon to the price in Southern Peninsula (cities & towns), this has gone up considerably in the last 6 months. In our first sample month during October, the average price is R 4 367 733. In November This price remains at R 4 473 650. During the following two months (December, January) the price has had an average incrementation from R 4 420 691,5 to R 4 871 845. Based on an analysis of the first four prices and the last two months the average price has risen strongly 125 % 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 5 834 459 they are 77 % more affordable than the average price for Southern Peninsula. The properties with the lowest average price have 4 bedrooms, Their price is 10 % cheaper than the average. After that we have properties with 3 bedrooms priced at R 4 290 891.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 6 979 / m², with an average R 9 611 / m² price in Southern Peninsula. The properties with the highest average prices have 1 bedroom. They are 108 % more expensive than the average followed by properties with 2 bedrooms with a price at R 16 448 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 5 834 459 it is 59 % cheaper than the average price in Southern Peninsula. "House" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Apartment". At a price of R 2 394 243 it is 16 % more affordable than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of R 7 131 / m² followed by "Apartment" priced at R 21 856 / m². "Apartment" is the most costly type of property with a R 21 856 / m² cost followed by "House" with an average price of R 7 131 / m².