The prices in real estate in Stella, in the North West 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 Stella has had a strong decrease during the last 6 months. In November, the average price per m² was R 434. In December this price pretty much remained the same at a value of R 424 per m². The price for the following two months in (January, February) had a considerable decrease of 43 with regard to the prior two months. The price per m² has had a considerable increase of 132 % 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 307,75 to R 405 during March, and April.
Based upon to the price in Stella (cities & towns), this has gone downing the last 6 months. In our first sample month during November, the average price is R 681 667. In December This price remains at R 666 875. During the following two months (January, February) the average price had a considerable reduction of 58 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 163 % during the last two months.