The prices in real estate in Upington, in the Northern 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 Upington has had a strong decrease during the last 6 months. In October, the average price per m² was R 5 970. In the following month the price per m² decreased to R 5 077. The price for the following two months in (December, January) had a considerable decrease of 58 with regard to the prior two months. The price per m² has had a considerable deflation of 73 % 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 4 354,75 to R 3 158 during February, and March.
Based upon to the price in Upington (cities & towns), this has gone up in the last 6 months. The price in October is R 2 162 050, rising in November till R 2 471 440. During the following two months (December, January) the price has had an average incrementation from R 2 316 745 to R 2 455 798,5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 91 %, going from R 2 386 271,75 to R 2 172 066,5 in 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 2 292 800 they are 72 % more affordable than the average price for Upington. The properties with the highest average price have 4 bedrooms, Their price is 1 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 910 832.
With regard to the average price per m² , those properties with 4 bedrooms are the most costly ones at a cost of R 4 552 / m², with an average R 3 344 / m² price in Upington. The properties with the highest average prices have 1 bedroom. They are 347 % more expensive than the average followed by properties with 2 bedrooms with a price at R 9 694 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 2 292 800 it is 67 % cheaper than the average price in Upington. "Townhouse" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Townhouse". At a price of R 1 690 757 it is 6 % 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 6 129 / m² followed by "Apartment" priced at R 10 333 / m². "Townhouse" is the most costly type of property with a R 11 458 / m² cost followed by "Apartment" with an average price of R 10 333 / m².