The prices in real estate in Southern Suburbs, 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 Suburbs has increased during the last 6 months. In October, the average price per m² was R 13 332. In November this price pretty much remained the same at a value of R 12 738 per m². The price for the following two months in (December, January) had a considerable increment of 115 %. The price per m² has barely changed in the last two months compared to the average price of the previous four months going from an average price of R 14 041 to R 14 430 during February y March
Based upon to the price in Southern Suburbs (cities & towns), this has gone up in the last 6 months. The average price during our first sample month during October, is R 2 673 810. During November the price went through a considerable rise reaching R 3 147 191. During the following two months (December, January) the average price fell 95 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of R 2 834 010,75 and R 2 833 866,5 between 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 2 713 783 they are 46 % more affordable than the average price for Southern Suburbs. The properties with the highest average price have 4 bedrooms, Their price is 147 % more costly than the average. After that we have properties with 3 bedrooms priced at R 2 934 739.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 8 954 / m², with an average R 13 066 / m² price in Southern Suburbs. The properties with the highest average prices have 1 bedroom. They are 121 % more expensive than the average followed by properties with 2 bedrooms with a price at R 17 701 / m².
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of R 2 713 783 it is 51 % cheaper than the average price in Southern Suburbs. "Apartment" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of R 3 909 408 it is 153 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of R 6 853 / m² followed by "Townhouse" priced at R 19 734 / m². "Commercial" is the most costly type of property with a R 6 868 526 / m² cost followed by "Apartment" with an average price of R 26 050 / m².