Analytics company, Lightstone, has released new data looking at the most valuable suburbs in South Africa.
Lightstone’s analysis includes the data of nearly eight million registered properties across South Africa – 83% of which are residential properties and 17% non-residential.
A total of 6.7 million residential properties were tracked, valued at R5.4 trillion – a figure which is heavily supported by the R2 trillion Gauteng market.
Freehold properties remain the largest percentage of this figure with 67%; estates follow at 18.3% and sectional title with 14.2%.
The group found that the Western Cape and Gauteng feature the larger proportion of properties and total value with more than 50% of the national market value captured in these two provinces.
Lightstone said that the most valuable suburbs are also found in these provinces, including:
- Western Cape – Cape Town; Sea Point, Rondebosch and Fresnaye;
- Gauteng – Bryanston, Morningside and Midstream;
The one notable exception is Umhlanga in KZN which has seen significant investment over the last decade.
Most valuable streets and suburbs in Cape Town
Lightstone also published data looking at the most expensive streets and suburbs in Cape Town.
The highest valued street being Beauvais Road in Bel Ombre with an average value of R43.7 million per property.
Llandudno is the suburb with the highest value of R19.3 million per property on average.
“Like previous years, the Cape Town’s property growth remains above the national average,” Lightstone said.
“The top three inflationary growth suburbs in the Western Cape over the last 12 months are Silwood Heights, Voëlklip and Hospital Hill.”