Residential News

Housing market in numbers

  • 5.2% is the average annual national house price growth recorded in SA in April, down from just below 6% a year ago, bringing the price of the average house to R700,000.
  • 7.5% is the average growth recorded in the Western Cape, well ahead of Gauteng’s 5.4%, which places it as SA’s best performing province in terms of house price growth.
  • 3.8% is the price growth achieved in the Eastern Cape, SA’s worst-performing market.
  • 27.2% is the rate at which low-end house prices rose, typically selling for below R250,000, which is more than 10 times the rate of increase seen in the luxury segment of the market priced above R1.5m.
  • R680,000 is the median value for a property in the Western Cape, the highest price of all the provinces. B uyers would typically require a monthly salary of R22,600 to afford it.
  • R620,000 is the median value in Gauteng, and buyers would need to earn R20,600.
  • R2m is the average price of a property in SA’s 6,500 gated estates, nearly three times the national average house price.
  • R17.4m is what you will pay for a house in Villa Santini in Johannesburg’s Sandhurst, SA’s most expensive estate.
  • R16.25m is the median value of a property in Silverhurst Estate in Cape Town. Other top end estates include Clouds End in Johannesburg, Sandals in Hermanus and Steenberg Golf Estate in Cape Town.

Source: Lightstone