The prices in real estate in Stilfontein, 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 Stilfontein has had a strong decrease during the last 6 months. In October, the average price per m² was R 1 882. In the following month the price per m² decreased considerably to R 1 598. The price for the following two months in (December, January) had a considerable decrease of 64 with regard to the prior two months. The price per m² has had a considerable deflation of 55 % 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 1 422,5 to R 775,5 during February, and March.
Based upon to the price in Stilfontein (cities & towns), this has gone up in the last 6 months. The price in October is R 652 957, rising in November till R 698 050. During the following two months (December, January) the price has had an average incrementation from R 675 503,5 to R 736 332,5. 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 705 918 and R 713 740 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 710 112 they are 70 % more affordable than the average price for Stilfontein. The properties with the highest average price have 4 bedrooms, Their price is 20 % more costly than the average. After that we have properties with 3 bedrooms priced at R 642 095.
With regard to the average price per m² , those properties with 4 bedrooms are the most costly ones at a cost of R 1 622 / m², with an average R 788 / m² price in Stilfontein. The properties with the highest average prices have 1 bedroom. They are 8993 % more expensive than the average followed by properties with 3 bedrooms with a price at R 14 488 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 710 112 it is 62 % cheaper than the average price in Stilfontein. "House" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Apartment". At a price of R 269 499 it is 3 % more affordable 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 1 794 / m² followed by "Apartment" priced at R 29 293 / m². "Apartment" is the most costly type of property with a R 29 293 / m² cost followed by "House" with an average price of R 1 794 / m².