The prices in real estate in St Francis Bay, in the Eastern Cape 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 St Francis Bay has fallen in the last 6 months. In October, the average price per m² was R 14 934. In November this price pretty much remained the same at a value of R 14 778 per m². In the following two months the price per m² has barely changed, going from R 14 856 to R 14 252,5 per m². The price per m² has decreased 89 % 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 14 554,25 to R 12 930 during February, and March.
Based upon to the price in St Francis Bay (cities & towns), this has gone up in the last 6 months. The price in October is R 4 813 625, rising in November till R 5 092 588. During the following two months (December, January) the average price had a considerable increase of 118 % 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 5 395 694 and R 5 440 834 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 4 825 783 they are 69 % more affordable than the average price for St Francis Bay. The properties with the highest average price have 4 bedrooms, Their price is 24 % more costly than the average. After that we have properties with 3 bedrooms priced at R 4 189 720.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 8 778 / m², with an average R 11 693 / m² price in St Francis Bay. The properties with the highest average prices have 2 bedrooms. They are 49 % more expensive than the average followed by properties with 1 bedroom with a price at R 17 311 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 4 825 783 it is 55 % cheaper than the average price in St Francis Bay. "Flat" is seen as the second most affordable property type. The dearest property type is "Townhouse" followed by "House". At a price of R 6 277 703 it is 47 % more expensive than the average price.
According to the average cost per m², the most expensive property type would be "House" at an average cost of R 12 459 / m² followed by "Apartment" priced at R 14 161 / m². "Farm" is the most costly type of property with a R 5 767 541 / m² cost followed by "Townhouse" with an average price of R 24 208 / m².