The most expensive streets, suburbs and estates in Cape Town
Amid the tumultuous environment of the property market over the last several years in South Africa, Cape Town has not only remained stable in house price inflation but shown significant growth thanks to foreign investors and migration from other provinces.
Data a research group, Lightstone, recently analysed data of several million properties in the Western Cape and pinned the annual inflation rate at just under 4.0%, with a monthly rate of 0.27%.
One of the most interesting findings, the group said, is how the value and volume of properties compares between Cape Town and Johannesburg.
During 2008 the rand experienced its most dismal period to date performing exceptionally low against its global counterparts and the property market experienced negative growth on a national scale.
“Annual property inflation experienced similar growth nationally over the next four years. After 2012 however, the Western Cape and the City of Cape Town became increasingly more attractive to potential buyers,” Lightstone said.
“Even though many predicted that the water crisis and talks of Day Zero would see a mass exodus from the Mother City, this was not reflected in the volumes of sales; on the contrary, the province is increasingly attractive in all three major property types,” it said.
Looking at the most expensive suburbs in Cape Town, Bishopscourt is the most expensive with an average value of R17.1 million, followed by Llandudno, Constantia Heights, Clifton, Steenberg and De Bosch in Stellenbosch.
Most expensive suburbs and streets
| # | Suburbs | Location | Median Property Value |
|---|---|---|---|
| 1 | Bishopscourt | Cape Town | R17.1 million |
| 2 | Llandudno | Cape Town | R15.7 million |
| 3 | Constantia Heights | Cape Town | R13.1 million |
| 4 | Clifton | Cape Town | R12.3 million |
| 5 | Steenberg Golf Estate | Cape Town | R12.2 million |
| 5 | De Bosch | Stellenbosch | R12.2 million |
| # | Streets | Location | House Price Growth |
|---|---|---|---|
| 1 | Nettleton Road | Clifton | R25.9 million |
| 2 | Hillwood Avenue | Bishopscourt | R25.4 million |
| 3 | Steenways Road | Llandudno | R24.1 million |
| 4 | Torquay Avenue | Bishopscourt | R23.7 million |
| 5 | Glen Beach Road | Camps Bay | R23.3 million |
| 6 | Upper Primrose Avenue | Bishopscourt | R22.6 million |
In an analysis of the highest growth in estate living and most expensive homes located in these estates the findings are as follows:
High growth estates
| # | Estate | Location | Median Property Value |
|---|---|---|---|
| 1 | High Steenberg | Cape Town | R16.2 million |
| 2 | Silverhurst Estate | Cape Town | R15.8 million |
| 3 | Riversong | Cape Town | R14.8 million |
| 4 | Silversteen Estate | Cape Town | R14.4 million |
| 4 | Whale Rock Beach | Plettenberg Bay | R14.4 million |
| 6 | Warblers Grove | Cape Town | R13.8 million |
| # | Estate | Location | House Price Growth |
|---|---|---|---|
| 1 | Nottinghill | Parklands | 21% |
| 2 | The Anchorage | Muizenberg | 14% |
| 3 | Rochefort Village | Pinehurst | 13% |
| 3 | St Hohns Wood Country Village | Durbanville Central | 13% |
| 3 | Sultana Select | Uitzicht | 13% |
| 6 | Estoril | Rugby | 12% |
“With most property prices on the rise, first time buyers are looking at more affordable options in lower cost suburbs like Pelikan Park, Kayelitsha and Parklands,” Lightstone said.
Even though the forecast for the Cape Town property market remains stable for 2018, this could be subject to changes dependant on government’s planned land expropriation without compensation strategy, the group said.
“In the interim, the appetite for foreign investments in the Cape Town property market will provide the required strength within the industry; and the demand for secure estate living will continue where both freehold and sectional title should enjoy much needed growth.”
Read: What a R2 million house looks like in Joburg, Cape Town, Durban and other major cities
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