The prices in real estate in Tzaneen, in the Limpopo 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 Tzaneen has fallen in the last 6 months. In October, the average price per m² was R 9 468. In the following month the price per m² increased to R 10 120. In the following two months the price per m² has barely changed, going from R 9 794 to R 9 601 per m². The price per m² has had a considerable deflation of 78 % 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 9 697,5 to R 7 591,5 during February, and March.
Based upon to the price in Tzaneen (cities & towns), this has gone downing the last 6 months. The average price for October is R 2 204 919. During November the price had a slight fall till R 2 060 292. During the following two months (December, January) the average price fell 91 % 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 2 039 320 and R 2 110 297,5 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 2 061 312 they are 68 % more affordable than the average price for Tzaneen. The properties with the highest average price have 4 bedrooms, Their price is 47 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 883 900.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of R 5 955 / m², with an average R 7 143 / m² price in Tzaneen. The properties with the highest average prices have 1 bedroom. They are 146 % more expensive than the average followed by properties with 2 bedrooms with a price at R 8 916 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 2 061 312 it is 59 % cheaper than the average price in Tzaneen. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Farm" followed by "Commercial". At a price of R 4 346 806 it is 273 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of R 5 632 / m² followed by "Townhouse" priced at R 10 755 / m². "Commercial" is the most costly type of property with a R 3 658 377 / m² cost followed by "Farm" with an average price of R 17 109 / m².