The average price in the Ogun region has had a strong decrease in recent months. There has been a strong deflation in the prices in this region.
The price per m² in Ogun has risen considerably in the last 6 months. During October, the average price per m² was ₦ 32,782. The following month (November) the price had a considerable deflation reaching ₦ 15,745 per m². The following two months (December, January) went through a considerable deflation of 60 % in the price per m² with regard to the previous two. In the last two months, the price per m² has had a significant decrease of 53 %. This has been obtained by comparing the price of ₦ 19,459.5 for the first four months of the sample with regard to the previous 4 months and the price of ₦ 10,366.5 per m² for the last two months (February, March).
Based upon to the price in Ogun(region), this has decreased considerably in the last 6 months. October has an average price of ₦ 28,923,125. During November the price had a strong deflation till ₦ 6,579,136. In the following two months the average price has decreased 36 % compared to the previous two. During the last two months the price has had a considerable reduction of 46 % with respect to the previous four months going from ₦ 12,087,440 a ₦ 5,562,235.5.
The graph displaying the the average price per number of bedrooms shows that those with 1 bedroom are the cheapest ones. They are 98 % more affordable than the average price in Ogun followed by those with 2 with an average price of ₦ 6,726,918. The most costly properties have 4 bedrooms. They are 150 % more expensive than the average followed by those properties with 3 bedrooms priced at ₦ 13,047,498.
Based on the average price per m² those properties with 1 bedroom are the cheapest ones with a price of ₦ 400 / m² being ₦ 10,152 / m² the average value within the Ogun region. The properties with the most expensive average price are those with 3 bedrooms. These are 251 % more costly than the average followed by those with 4 bedrooms with a price of ₦ 27,041 / m².
The graph displaying the average price according to the property type shows "Detached bungalow" as the cheapest one. With an average cost of ₦ 5,450,625 it is 20 % more affordable than the average in Ogun. This is followed by "Flat" with a price of ₦ 5,064,446. The dearest property type is "Commercial" and is 626 % more expensive than the average, followed by "House" with a cost of ₦ 11,789,170.
Based on the average cost per m² the most costly property type is "Flat with a an average price of ₦ 10,195 / m², followed by "Land" with a price of ₦ 10,823 / m². "House" with an average price of ₦ 26,323 / m² is the most costly type of property followed by "Bungalow" at a price of ₦ 23,666 / m².