The prices in real estate in White River, in the Mpumalanga 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 White River has had a strong decrease during the last 6 months. In October, the average price per m² was R 8 712. In November this price pretty much remained the same at a value of R 9 032 per m². The price for the following two months in (December, January) decreased 87 % with regard to the prior two months. The price per m² has had a considerable deflation of 63 % 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 8 314,75 to R 5 234,5 during February, and March.
Based upon to the price in White River (cities & towns), this has gone up in the last 6 months. The price in October is R 2 607 938, rising in November till R 2 980 175. During the following two months (December, January) the price has had an average incrementation from R 2 794 056,5 to R 2 938 506,5. 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 2 866 281,5 and R 2 947 547 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 3 123 094 they are 84 % more affordable than the average price for White River. The properties with the highest average price have 4 bedrooms, Their price is 43 % more costly than the average. After that we have properties with 3 bedrooms priced at R 2 056 625.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of R 3 891 / m², with an average R 4 962 / m² price in White River. The properties with the highest average prices have 2 bedrooms. They are 43 % more expensive than the average followed by properties with 4 bedrooms with a price at R 5 913 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 3 123 094 it is 75 % cheaper than the average price in White River. "Land" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Farm". At a price of R 5 648 188 it is 161 % 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 4 638 / m² followed by "Apartment" priced at R 9 547 / m². "Farm" is the most costly type of property with a R 4 772 313 / m² cost followed by "Land" with an average price of R 930 804 / m².