22 Jul 2010
Seven out of the 10 most active areas in the country in terms of property transfers are situated in Gauteng, according to a new survey.
Only three spots, occupied by Parklands (1st place) with an average price of R813,641 and Table View (8th place) with an average price of R1,143,200 in Cape Town’s Milnerton and Langenhoven Park in Bloemfontein (2nd place) with an average price of R849,772, are located outside of Gauteng.
Conducted by the Knowledge Factory and their South African Property Transfer Guide using sales figures during December 2009 to February 2010, the survey showed that with the exception of Soweto’s Protea Glen, Centurian’s Midstream Estate, and Pretoria’s Mooikloof Ridge, the average price range for the top suburbs was within a very small band (R815k to R1,143m), which showed where the bulk of the current market was.
Mike Spencer of Platinum Global in Bloemfontein said the vast majority of clients were looking to buy homes in the same price range, especially houses, though there was also a strong demand for investment flats and townhouses in a price range from R400k to R750k.
The rest of the areas and suburbs include Protea Glen in Soweto (3rd place) with an average price of R250,395; Midstream Estate in Centurion (4th) with an average price of R1,636,859; Douglasdale in Sandton/Fourways with an average price of R999,972 (5th); Greenstone Hill in Edenvale with an average price of R983,923 (6th); Weltevreden Park with an average price of R871,516 (7th); Meyersdal in Alberton with an average price of R1,108,732 (9th); and Mooikloof Ridge with an average price of R659,167 (10th).
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