The prices in real estate in Southport, 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 Southport has had a strong decrease during the last 6 months. In November, the average price per m² was R 7 640. In December this price pretty much remained the same at a value of R 7 690 per m². The price for the following two months in (January, February) had a considerable decrease of 73 with regard to the prior two months. The price per m² has had a considerable deflation of 84 % 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 6 643,25 to R 5 549 during March, and April.
Based upon to the price in Southport (cities & towns), this has fallen considerably in the last 6 months. In our first sample month during November, the average price is R 2 655 000. In December This price remains at R 2 600 000. During the following two months (January, February) the average price had a considerable reduction of 62 % 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 2 121 989,5 to R 1 678 300, which means a 79 % fall.
The graph showing the average price for bedrooms displays the property with the lowest price has 1 bedroom. It is 8 % cheaper than the average price of R 1 968 676 in Southport. Based on the bedrooms values, properties with the lowest prices are those with 1 bedroom. They are 8 % more affordable than the average aforementioned.
With regard to the average prices per m² those properties with 1 bedroom are 30508 % more costly than the average price of (R 1 968 676 / m²) in Southport. Properties with the most expensive price based upon to the number of bedrooms / m² are those with 1 bedroom. They are 30508 % more costly than the average value aforementioned.