The prices in real estate in Wartburg, 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 Wartburg has had a strong decrease during the last 6 months. In November, the average price per m² was R 745. In December this price pretty much remained the same at a value of R 745 per m². The price for the following two months in (January, February) decreased 94 % with regard to the prior two months. The price per m² has had a considerable deflation of 46 % 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 724 to R 331 during March, and April.
Based upon to the price in Wartburg (cities & towns), this has gone downing the last 6 months. In our first sample month during November, the average price is R 1 785 000. In December This price remains at R 1 821 667. During the following two months (January, February) the price has had an average incrementation from R 1 803 333,5 to R 1 921 250. During the last two months the average price has had a strong fall compared to the previous four going from R 1 862 291,75 to R 1 115 000, which means a 60 % fall.