The prices in real estate in Yzerfontein, in the Western Cape 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 Yzerfontein has had a strong decrease during the last 6 months. In October, the average price per m² was R 16 583. In November this price pretty much remained the same at a value of R 16 487 per m². The price for the following two months in (December, January) had a considerable decrease of 78 with regard to the prior two months. The price per m² has decreased 89 % 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 14 735,75 to R 13 103,5 during February, and March.
Based upon to the price in Yzerfontein (cities & towns), these have remained the same in the last 6 months. The price in October is R 4 738 838, rising in November till R 5 361 559. In the following two months the average price has remained the same with regard to the previous two months from R 5 050 198,5 to R 4 915 356,5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 95 %, going from R 4 982 777,5 to R 4 730 181 in February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 3 bedrooms are the cheapest ones. At a price of R 4 690 073 they are 27 % more affordable than the average price for Yzerfontein. The properties with the highest average price have 4 bedrooms, Their price is 13 % more costly than the average. After that we have properties with 1 bedroom priced at R 4 271 299.
With regard to the average price per m² , those properties with 4 bedrooms are the most costly ones at a cost of R 14 288 / m², with an average R 12 695 / m² price in Yzerfontein. The properties with the highest average prices have 1 bedroom. They are 33546 % more expensive than the average followed by properties with 2 bedrooms with a price at R 21 429 / m².
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of R 4 690 073 it is 61 % cheaper than the average price in Yzerfontein. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Apartment". At a price of R 2 673 585 it is 1 % more expensive than the average price.
According to the average cost per m², the most expensive property type would be "House" at an average cost of R 17 148 / m² followed by "Apartment" priced at R 17 306 / m². "Land" is the most costly type of property with a R 1 813 626 / m² cost followed by "Apartment" with an average price of R 17 306 / m².