The prices in real estate in Stanger, in the Kwazulu-natal 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 Stanger has fallen in the last 6 months. In October, the average price per m² was R 5 688. In the following month the price per m² increased to R 6 203. In the following two months the price per m² has barely changed, going from R 5 945,5 to R 5 973,5 per m². The price per m² has had a considerable deflation of 73 % 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 5 959,5 to R 4 368,5 during February, and March.
Based upon to the price in Stanger (cities & towns), these have remained the same in the last 6 months. In our first sample month during October, the average price is R 2 884 318. In November This price remains at R 2 980 270. During the following two months (December, January) the price has had an average incrementation from R 2 932 294 to R 3 116 359. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 87 %, going from R 3 024 326,5 to R 2 630 593,5 in 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 2 470 909 they are 37 % more affordable than the average price for Stanger. The properties with the highest average price have 4 bedrooms, Their price is 21 % more costly than the average. After that we have properties with 3 bedrooms priced at R 2 235 263.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of R 2 391 / m², with an average R 3 600 / m² price in Stanger. The properties with the highest average prices have 1 bedroom. They are 42904 % more expensive than the average followed by properties with 2 bedrooms with a price at R 6 881 / m².
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of R 2 470 909 it is 71 % cheaper than the average price in Stanger. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Apartment". At a price of R 1 549 617 it is 20 % 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 388 366 / m² followed by "Land" priced at R 728 252 / m². "Apartment" is the most costly type of property with a R 1 272 869 / m² cost followed by "Land" with an average price of R 728 252 / m².