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Gauteng property highlights: First-time buyer and price growth hotspots

26 Nov 2019

Riverside View in Fourways, Johannesburg, is the suburb with the highest volume of first-time buyers in Gauteng, while the highest house price growth for estates was recorded in Zambezi Manor, Pretoria.

This double storey home in Zambezi Manor Lifestyle Estate, Pretoria, has three bedrooms, two bathrooms, modern finishes and more. It is selling for R2.2 million - click here to view.

These findings were captured as part of the Lightstone Property Overview, with a focus on the performance of the Gauteng market over the last year.

The Riverside View Housing and Development Programme (RDP) began in 2016 and has offered first-time buyers the unique opportunity to enter the property market.

Although the total value and volume of stock increased from 2018 to 2019, transactional activity has slowed down across the major provinces

Results within the report indicate that although low economic growth continues to increase pressure on the overall property market, the current value of the Gauteng market remains stable when compared to the previous year’s findings.

“What’s interesting about the national property view of the country, is that although the total value and volume of stock increased from 2018 to 2019, transactional activity has slowed down across the major provinces,” says Paul-Roux de Kock, Analytics Director at Lightstone. “This could be indicative of lagging supply now catching up with demand, along with several other influences such as slow economic growth and an increase in unemployment.”

The Lightstone graphs below compare the volume and value growth of properties between 2018 and 2019

2019

 

2018

Transfer activity: Gauteng vs Western Cape

Cyclical transfer activity from the first quarter of 2019 illustrated a slightly reduced rate in registrations as consumers anticipated the results of the national election in the first quarter of this year. Transfer activity then picked up in quarter two and three with the exception of the Western Cape signaling an upsurge for the buyers’ market in this province over the last two quarters.

Graph shows transfer activity from 2014 to 2019 (Lightstone)

Most expensive suburbs and streets in Gauteng

By utilising Lightstone’s lending grade automated valuations model, the most expensive suburbs and streets in Gauteng were revealed and predictably Sandton and specifically its central suburb of Sandhurst dominated the list.

The highest valued streets and suburbs in Gauteng (Lightstone)

Residential estates in Gauteng

Analysis of estates in Gauteng shows the highest median value for Villa Santini in Sandton and the highest house price growth for Zambezi Manor located in Pretoria, a spot previously held by Clouds End in Sandton, now at number two on the list.

Highest Median Estate Value and House Price Growth (Lightstone)

Affordable market shows good growth

“Although the property market has been weighed down by economic pressure, we are encouraged by the fact that the affordable market segment has achieved good growth, which continues to empower South Africans starting their journey on the property ownership ladder with wealth building opportunities,” says De Kock.

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