The average price in the North West region has had a slight decrease in recent months. There has been a deflation in the prices in this region.
The price per m² in North West has risen in the last 6 months. During October, the average price per m² was R 9 751. In November the price pretty much stayed the same at R 9 777 per m². The price per m² for the following two months practically stayed the same, going from R 9 764 to R 9 401 per m². In the last two months, the price per m² has had a significant decrease of 73 %. This has been obtained by comparing the price of R 9 582,5 for the first four months of the sample with regard to the previous 4 months and the price of R 6 997,5 per m² for the last two months (February, March).
Based upon to the price in North West(region), these have remained the same in the last 6 months. In the first month sample for October the average price is R 2 185 669. During November it went through a strong inflation reaching R 2 662 063 The average price for the following two months (December, January) decreased 91 % compared to the prior two. During the last two months the price has reduced 86 % compared to the previous average values going from R 2 309 519 a R 1 981 887,5 in February and March.
The graph displaying the the average price per number of bedrooms shows that those with 1 bedroom are the cheapest ones. They are 69 % more affordable than the average price in North West followed by those with 2 with an average price of R 790 526. The most costly properties have 4 bedrooms. They are 56 % more expensive than the average followed by those properties with 3 bedrooms priced at R 1 507 625.
Based on the average price per m² those properties with 4 bedrooms are the cheapest ones with a price of R 3 710 / m² being R 4 530 / m² the average value within the North West region. The properties with the most expensive average price are those with 1 bedroom. These are 127 % more costly than the average followed by those with 2 bedrooms with a price of R 7 442 / m².
The graph displaying the average price according to the property type shows "Apartment" as the cheapest one. With an average cost of R 1 754 675 it is 53 % more affordable than the average in North West. This is followed by "Townhouse" with a price of R 1 132 594. The dearest property type is "Farm" and is 280 % more expensive than the average, followed by "Commercial" with a cost of R 4 680 180.
Based on the average cost per m² the cheapest property type is "Commercial with a an average cost of R 1 818 / m², followed by "House" with a price of R 3 178 / m². "Farm" with an average price of R 36 129 / m² is the most costly type of property followed by "Land" at a price of R 10 491 / m².