The average rent in South Africa’s provinces

The North West remains on average the cheapest province in South Africa for rent, while the Western Cape maintains its spot as the most expensive.

This is according to PayProp’s Rental Index Annual Market Report – 2024 Edition, which said that the average rent in South Africa sits at R8,598, an increase of R368 year on year, and R147 above the previous quarter (Q3).

According to PayProp’s data analysis from Q4 in 2023, South Africa’s provinces recorded average rental prices and annual growth rates of:

While the North West continues to sport the lowest average rent in the country, it shows the largest annual increase in prices, at 10.1%.

This is closely followed by the country’s second cheapest place for rent, Limpopo, which saw an 8.8% annual growth.

This sits well above the national average of 4.6%.

Conversly, KwaZulu-Natal “has had a tough year,” in the rental property market, said PayProp.

After recording a strong 5.0% rental growth in Q1 2023, this figure has fallen in every subsequent quarter, currently sitting at the lowest in the country at 1.4%.

While year-on-year (YoY) rental growth in Gauteng was the second lowest in the country at 3.6%, rents remained the third highest after overtaking KwaZulu-Natal in the previous quarter.

The Northern Cape, which sports the second priciest rent in South Africa is seeing its rental growth lose momentum.

While its YoY growth sits at 5%, which is above the national average of 4.6%, “it’s also the slowest growth measured in the province in any quarter since Q1 2022, and a third successive fall in the rate of rental growth,” said PayProp.

The Western Cape, which recorded year-on-year rental growth of 3.9% making it the seventh highest in the country, it continues to top the list for priciest rent, exceeding the R10,000 average early in 2023.

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