The prices in real estate in Wellington, in the Western Cape region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per m² in Wellington has fallen in the last 6 months. In October, the average price per m² was R 12 499. In November this price pretty much remained the same at a value of R 11 960 per m². The price for the following two months in (December, January) decreased 90 % with regard to the prior two months. The price per m² has decreased 87 % 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 11 607,25 to R 10 125 during February, and March.
Based upon to the price in Wellington (cities & towns), this has gone downing the last 6 months. In our first sample month during October, the average price is R 2 862 790. In November This price remains at R 2 898 165. During the following two months (December, January) the average price had a considerable reduction of 80 % 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 2 587 741,75 and R 2 697 675 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 2 896 750 they are 74 % more affordable than the average price for Wellington. The properties with the highest average price have 4 bedrooms, Their price is 62 % more costly than the average. After that we have properties with 2 bedrooms priced at R 2 498 167.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of R 7 547 / m², with an average R 10 104 / m² price in Wellington. The properties with the highest average prices have 1 bedroom. They are 63 % more expensive than the average followed by properties with 2 bedrooms with a price at R 10 421 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 2 896 750 it is 74 % cheaper than the average price in Wellington. "Flat" is seen as the second most affordable property type. The dearest property type is "House" followed by "Land". At a price of R 2 771 639 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 8 008 / m² followed by "Flat" priced at R 11 214 / m². "Land" is the most costly type of property with a R 2 771 639 / m² cost followed by "Apartment" with an average price of R 13 797 / m².