Please note that you are using an outdated version of Internet Explorer which is not compatible with some elements of the site. We strongly urge you to update to a newer version for optimal browsing experience.

SA property trends: Cape Town still number one in value

03 Jun 2019

A survey recently carried out by Lightstone has revealed a range of statistics that will be of interest to anyone keeping track of property trends in South Africa today.

This three bedroom, two bathroom home in Pinehurst, Durbanville, has sliding doors leading to a patio with wooden deck and is close to schools and amenities. It is selling for R2.149 million - click here to view.

This is according to Rowan Alexander, Director of Alexander Swart Property, who says that Lightstone calculated that of the 8 million registered properties in South Africa, 83% are residential.

These 6.7 million homes have a combined value of R5.4 trillion, with Gauteng accounting for some R2 trillion of this figure. 67% of the total are freehold properties, 18.3% are in estates (a figure almost double that of 15 years ago) and 14.2% are sectional title units. The average value of the estate homes is roughly three times that of normal freehold properties.

This two bedroom, one bathroom townhouse in Parklands, Blouberg, offers an open-plan kitchen and living area with sliding doors to the front garden. It is on the market for R1.2 million - click here to view.

Gauteng remains the province with the densest residential properties as regards value and volume. Figures for SA’s municipalities show that Cape Town values are way ahead of the rest, with residential properties worth R1.6 trillion. Johannesburg comes second with R0.94 trillion and Tshwane third with R0.54 trillion.

The number of homes in the Western Cape and Gauteng together is just over 50% of the total value for the country, but in value terms these two provinces account for 66% of South Africa’s homes. In Johannesburg Bryanston, Morningside and Midstream are the highest overall value suburbs, while in Cape Town Sea Point, Rondebosch and Fresnaye have captured the most value.

This two bedroom, one bathroom home in Sunningdale, Blouberg, is close to amenities. It is selling for R1.549 million - click here to view.

At R19.3 million, Llandudno has the highest value per home. The far less expensive middle bracket Cape Town areas of Sillwood Heights, Hospital Hill and Voëlklip saw the highest price growth in the last year.

Lightstone’s survey also reveals that single, female residential buyers in Cape Town, have increased in one year to just over 71 700 - a figure which is almost 15% higher than that of their male counterparts.

“The Lighstone data confirm yet again that Cape Town remains a favoured precinct for property investment, with greater stability and, on average, steadier growth than other metropolitan areas. Prices here continue to be well above the average for South Africa. The formerly under-valued Northern Suburbs have fared particularly well recently, and justified investors’ confidence,” says Alexander.

Print Print
Top Articles
The number of bonds granted was up 19.2% in the 12 months to end-September compared to the previous period, with more first-time buyers getting into the market. Read on...

These estate homes in George in the Western Cape offer comfortable family living in serene settings. With prices under R5m, take a peek…

La Lucia Mall has just undergone a major upgrade to modernise and reimagine its retail space, with new shopping options. Take a peek...

Loading

Your browser is out of date!

It looks like you are using an outdated version of Internet Explorer.

If you are using Internet Explorer 8 or higher, please verify that your Internet Explorer compatibility view settings are not enabled.

For the best browsing experience, update to the latest Version of Internet Explorer or try out Google Chrome or Mozilla Firefox.


Please contact our Property24 Support Team for further assistance. Tel. +27 (0)861 111 724