One suburb in South Africa with only 300 homes where prices increased by R3 million every year since 2020
Cape Town’s exclusive suburb of Bishopscourt, home to just over 300 residences, has seen average property prices surge from about R11 million in 2020 to R30 million in 2026.
This growth works out to an increase in property value of roughly R3.17 million annually over the past six years.
Bishopscourt is located on the eastern slopes of Table Mountain and is regarded as one of Cape Town’s most prestigious residential areas.
The suburb is known for its large luxury homes, expansive gardens, mature oak-lined streets, and high-profile residents, including business leaders, diplomats, and prominent public figures.
The area originally formed part of the land owned by Jan van Riebeeck, but it only acquired its current name in 1851.
This was when the Colonial Bishoprics Fund purchased the property and established its headquarters there, naming it Bishopscourt.
Over time, the suburb evolved into one of South Africa’s most sought-after residential addresses.
Among its notable former residents was Desmond Tutu, who lived in the suburb while serving as the Anglican Archbishop of Cape Town.
The area has also attracted wealthy business figures, including Patrice Motsepe, who purchased a luxury estate in the suburb for R68 million.
According to Hamilton’s Property Portfolio, Bishopscourt is known for its mountain views and exceptional homes set on expansive grounds.
A key factor contributing to its exclusivity is its limited housing stock. The suburb comprises just over 300 substantial family homes, many situated on plots exceeding an acre and featuring extensive landscaped gardens.
This scarcity has helped support significant price growth even as the broader luxury property market has slowed.
According to Francois Venter, lead agent for Seeff Property Group, average selling prices in luxury Cape Town suburbs such as Bishopscourt have continued to climb despite fewer transactions.
“Sales data for the first quarter shows that Bishopscourt property is selling for R30 million on average, almost three times the average from five years ago, which was around R11 million in 2020,” said Venter.
The figures indicate that the average property value in the suburb has risen by approximately R19 million over six years, equating to annual growth of about R3.17 million. This growth has occurred despite a decline in buyer activity.
Low stock resulting in higher prices
Venter noted that there were 17% fewer buyers compared with the previous year and that broader economic conditions have weighed on the luxury market. However, he explained that supply constraints have offset weaker demand.
“While economic factors are driving the wider slowdown, property listings have halved year-on-year, with low stock levels resulting in the higher prices paid,” he said.
The trend is evident across what are commonly known as “The Uppers” suburbs, including Bishopscourt, Constantia Upper, Newlands, Claremont Upper, and Kenilworth Upper.
Propstats data shows that 44 properties were sold across these areas during the first quarter, down from 74 sales during the same period last year.
Despite the drop in transactions, the combined value of sales remained largely unchanged at about R860 million, compared with approximately R867 million a year earlier, reflecting the sharp increase in average selling prices.
The average selling price across these suburbs reached R19 million, up from R11.7 million last year. Properties are also changing hands relatively quickly.
According to Venter, Seeff concludes sales within an average of 32 days, compared with a market average of 41 days, while selling prices remain close to asking prices.
Venter said that despite concerns about economic growth, interest rates, and global uncertainty, demand for premium Cape Town suburbs remains resilient.
He described Bishopscourt as “a low-supply, but high-demand market,” adding that it continues to offer strong long-term value for property owners and investors.
Photos of Bishopscourt
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