The prices in real estate in Uitenhage, in the Eastern 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 Uitenhage has had a strong decrease during the last 6 months. In October, the average price per m² was R 4 236. In the following month the price per m² decreased considerably to R 3 407. The price for the following two months in (December, January) had a considerable decrease of 71 with regard to the prior two months. The price per m² has barely changed in the last two months compared to the average price of the previous four months going from an average price of R 3 276,5 to R 3 130 during February y March
Based upon to the price in Uitenhage (cities & towns), this has gone downing the last 6 months. The average price for October is R 1 157 175. During November the price had a slight fall till R 1 049 137. During the following two months (December, January) the average price fell 92 % 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 1 059 967,75 and R 1 087 651,5 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 1 029 636 they are 59 % more affordable than the average price for Uitenhage. The properties with the highest average price have 4 bedrooms, Their price is 54 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 162 816.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of R 1 636 / m², with an average R 3 223 / m² price in Uitenhage. The properties with the lowest average prices have 4 bedrooms. They are 17 % cheaper than the average followed by properties with 1 bedroom with a price at R 2 274 / m².
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of R 1 029 636 it is 55 % cheaper than the average price in Uitenhage. "Apartment" is seen as the second most affordable property type. The dearest property type is "Farm" followed by "House". At a price of R 1 289 494 it is 374 % 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 3 348 / m² followed by "Apartment" priced at R 3 826 / m². "Farm" is the most costly type of property with a R 4 885 405 / m² cost followed by "Townhouse" with an average price of R 7 825 / m².