Data published by data analytics firm Lightstone finds Westcliff to be Johannesburg’s most affluent suburb, with an average house price reaching R8.44 million.
Lighstone points out that the top five suburbs in Joburg in terms of having the highest average property price are all located in the north of the city.
Astonishingly, only 52% of the homes in Westcliff are bonded, however this area ranks behind nearby Sandhurst, where the average property comes in at R6.95 million, and where only 50% of the homes are financed.
Top 5 suburbs ranked by average value
|Suburb||City||Proportion Bonded||Average Value
Recent research conducted by consultation firm, New World Wealth (NWW) found that Camps Bay in Cape Town is home to the most properties with a value exceeding US$2 million in South Africa, with 155 – followed by Knysna on the Garden Route, with 133 properties, and Sandhurt, in Johannesburg, with 127.
According to NW Wealth research, the price of prime property in Cape Town (Bantry Bay, Clifton) is valued at US$6,500 per square meter in 2013, whilst prime Johannesburg (Sandton) property is valued at US$2,400 per square meter.