The prices in real estate in Witbank, in the Mpumalanga region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per m² in Witbank has increased strongly during the last 6 months. In January, the average price per m² was R 671 335. In the following month the price per m² increased considerably to R 908 573. The price for the following two months in (March, April) had a considerable increment of 118 %. The price per m² has decreased 90 % 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 861 078,75 to R 776 186 during May, and June.
Based upon to the price in Witbank (cities & towns), this has gone downing the last 6 months. The average price for January is R 1 624 385. During February the price had a slight fall till R 1 477 961. During the following two months (March, April) the average price fell 91 % 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 1 484 375,75 and R 1 451 031 between May and June.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of R 1 471 901 they are 33 % more affordable than the average price for Witbank. The properties with the highest average price have 4 bedrooms, Their price is 104 % more costly than the average. After that we have properties with 1 bedroom priced at R 1 374 713.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of R 5 675 / m², with an average R 1 037 778 / m² price in Witbank. The properties with the highest average prices have 1 bedroom. They are 32 % more expensive than the average followed by properties with 2 bedrooms with a price at R 9 374 / m².
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of R 1 471 901 it is 61 % cheaper than the average price in Witbank. "Commercial" is seen as the second most affordable property type. The dearest property type is "Apartment" followed by "House". At a price of R 1 512 394 it is 146 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Townhouse" at an average cost of R 4 658 / m² followed by "Flat" priced at R 557 870 / m². "Apartment" is the most costly type of property with a R 3 466 899 / m² cost followed by "House" with an average price of R 1 065 866 / m².