The prices in real estate in Vlakfontein, in the Gauteng 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 Vlakfontein has had a strong decrease during the last 6 months. In November, the average price per m² was R 6 557. In the following month the price per m² decreased considerably to R 4 166. The price for the following two months in (January, February) had a considerable decrease of 11 with regard to the prior two months. The price per m² has had a considerable deflation of 26 % 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 2 983,75 to R 767 during March, and April.
Based upon to the price in Vlakfontein (cities & towns), this has gone up considerably in the last 6 months. The average price during our first sample month during November, is R 1 043 000. During December the price went through a considerable rise reaching R 5 800 000. During the following two months (January, February) the average price had a considerable reduction of 82 % 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 3 105 312,5 to R 1 052 166,5, which means a 34 % fall.