The prices in real estate in Vredefort, in the Free State 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 Vredefort has had a strong decrease during the last 6 months. In November, the average price per m² was R 2 042. In the following month the price per m² increased to R 2 180. The price for the following two months in (January, February) had a considerable decrease of 56 with regard to the prior two months. The price per m² has had a considerable deflation of 60 % 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 1 647 to R 982 during March, and April.
Based upon to the price in Vredefort (cities & towns), this has gone up considerably in the last 6 months. In our first sample month during November, the average price is R 556 250. In December This price remains at R 578 125. During the following two months (January, February) the average price had a considerable increase of 118 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has gone up 110 % during the last two months.