The prices in real estate in St Helena Bay, in the Western Cape 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 St Helena Bay has had a strong decrease during the last 6 months. In October, the average price per m² was R 12 202. In the following month the price per m² decreased to R 11 437. The price for the following two months in (December, January) decreased 85 % with regard to the prior two months. The price per m² has decreased 92 % 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 10 952,5 to R 10 101 during February, and March.
Based upon to the price in St Helena Bay (cities & towns), these have remained the same in the last 6 months. In our first sample month during October, the average price is R 2 787 469. In November This price remains at R 2 921 744. In the following two months the average price has remained the same with regard to the previous two months from R 2 854 606,5 to R 2 934 619,5. 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 2 894 613 and R 2 905 623,5 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 2 846 763 they are 37 % more affordable than the average price for St Helena Bay. The properties with the highest average price have 4 bedrooms, Their price is 2 % more costly than the average. After that we have properties with 3 bedrooms priced at R 2 084 991.
With regard to the average price per m² , those properties with 4 bedrooms are the most costly ones at a cost of R 10 333 / m², with an average R 9 526 / m² price in St Helena Bay. The properties with the highest average prices have 1 bedroom. They are 55 % more expensive than the average followed by properties with 2 bedrooms with a price at R 11 010 / m².
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of R 2 846 763 it is 45 % cheaper than the average price in St Helena Bay. "Farm" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Commercial". At a price of R 2 039 840 it is 22 % more affordable than the average price.
According to the average cost per m², the cheapest property type is "Townhouse" at an average cost of R 7 083 / m² followed by "Farm" priced at R 10 104 / m². "Commercial" is the most costly type of property with a R 1 006 420 / m² cost followed by "House" with an average price of R 10 561 / m².