The prices in real estate in Umzumbe, in the Kwazulu-natal 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 Umzumbe has had a strong decrease during the last 6 months. In November, the average price per m² was R 3 875. In the following month the price per m² increased to R 4 241. The price for the following two months in (January, February) had a considerable decrease of 42 with regard to the prior two months. The price per m² has had a considerable deflation of 79 % 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 2 878,75 to R 2 273,5 during March, and April.
Based upon to the price in Umzumbe (cities & towns), this has gone downing the last 6 months. In our first sample month during November, the average price is R 1 974 455. In December This price remains at R 1 884 400. During the following two months (January, February) the average price had a considerable increase of 118 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from R 2 106 788,75 to R 1 406 000, which means a 67 % fall.