The prices in real estate in Umdloti, in the Kwazulu-natal region have remained the same in the last couple of months. The real estate prices for second hand homes have remained in this city.
The price per m² in Umdloti has remained the same in the last 6 months. In October, the average price per m² was R 19 622. In November this price pretty much remained the same at a value of R 20 564 per m². The price for the following two months in (December, January) decreased 92 % with regard to the prior two months. The price per m² has decreased 95 % 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 19 273,25 to R 18 236 during February, and March.
Based upon to the price in Umdloti (cities & towns), this has gone up in the last 6 months. The average price during our first sample month during October, is R 4 398 250. During November the price went through a considerable rise reaching R 5 224 773. During the following two months (December, January) the price has had an average incrementation from R 4 811 511,5 to R 5 114 710. During the last two months the average price has had a strong fall compared to the previous four going from R 4 963 111 to R 4 027 083, which means a 81 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 4 193 166 they are 66 % more affordable than the average price for Umdloti. The properties with the highest average price have 4 bedrooms, Their price is 306 % more costly than the average. After that we have properties with 3 bedrooms priced at R 3 520 891.
With regard to the average price per m² , those properties with 4 bedrooms are the most costly ones at a cost of R 17 801 / m², with an average R 16 971 / m² price in Umdloti. The properties with the highest average prices have 1 bedroom. They are 96 % more expensive than the average followed by properties with 2 bedrooms with a price at R 20 944 / m².
The graph displaying the average prices displays the property type "Commercial Property" as the most affordable one. At an cost of R 4 193 166 it is 25 % cheaper than the average price in Umdloti. "Flat" is seen as the second most affordable property type. The dearest property type is "House" followed by "Land". At a price of R 4 847 285 it is 280 % more expensive than the average price.
According to the average cost per m², the most expensive property type would be "Apartment" at an average cost of R 23 328 / m² followed by "Commercial Property" priced at R 3 142 796 / m². "Land" is the most costly type of property with a R 4 847 285 / m² cost followed by "House" with an average price of R 3 562 662 / m².