The prices in real estate in Uvongo, 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 Uvongo has had a strong decrease during the last 6 months. In October, the average price per m² was R 2 633. In the following month the price per m² increased to R 2 823. The price for the following two months in (December, January) had a considerable decrease of 26 with regard to the prior two months. The price per m² has had a considerable increase of 165 % 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 1 718,25 to R 2 828,5 during February, and March.
Based upon to the price in Uvongo (cities & towns), this has gone downing the last 6 months. In our first sample month during October, the average price is R 1 344 413. In November This price remains at R 1 317 900. During the following two months (December, January) the average price fell 90 % 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 1 265 825 and R 1 282 125 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 1 324 250 they are 58 % more affordable than the average price for Uvongo. The properties with the highest average price have 4 bedrooms, Their price is 39 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 499 783.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 1 757 / m², with an average R 3 042 / m² price in Uvongo. The properties with the highest average prices have 3 bedrooms. They are 32 % more expensive than the average followed by properties with 2 bedrooms with a price at R 3 808 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 1 324 250 it is 26 % cheaper than the average price in Uvongo. "Townhouse" is seen as the second most affordable property type. The dearest property type is "House" followed by "Townhouse". At a price of R 996 160 it is 43 % 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 1 954 / m² followed by "Townhouse" priced at R 2 464 / m². "Apartment" is the most costly type of property with a R 5 076 / m² cost followed by "Townhouse" with an average price of R 2 464 / m².