New data shows which streets in South Africa command the highest prices when it comes to property value.
Data compiled by Propstats & Lightstone, and prepared by Seeff, showed that where only a handful of sales topped the R20 million price mark five years ago, as many as 22 of the country’s residential streets claim that figure as an average sales price.
The data shows that the Cape property market is literally streets ahead of the rest of the country claiming 15 of the top 22 streets – nine on the Atlantic Seaboard (Clifton, Fresnaye and Bantry Bay) and six in the Southern Suburbs (Bishopscourt and Constantia).
The remaining seven streets are in the Johannesburg and Sandton suburbs of Sandhurst, Hyde Park and Bryanston.
In determining the most sought-after and valuable streets in the country, the data assessed sales over a period of time rather than just recent one-off sales.
Nettleton Road retains its position as the most expensive street in the country, located high up against the slopes of Lion’s Head, offering a combination of privacy and panoramic sea views.
It now boasts an average sales price of R45 million (about R100,000/sqm plus) and a highest sales price of R111 million, sold by Lance Cohen in 2015. Properties in the street though range to as much as R150 million-R200 million at the top end.
In the Johannesburg and Sandton areas, seven streets contain multiple properties that have sold for upwards of R20 million. Most of these streets however, still boast property prices ranging from around the R5 million price band to well over R40 million.
The most expensive street in Johannesburg is widely regarded as Coronation Road in the swanky suburb of Sandhurst that lies adjacent to the Sandton CBD. It boasts an average price of about R30 million for top end property and a top price of about R100 million.
Top 20 richest streets in South Africa
|Suburb||Street||AVG Price||Highest Price|
|Bantry Bay||De Wet Road||R34m||R65m|
|Bantry Bay||Ocean View Drive||R31m||R350m|
|Hyde Park||4th Road||R26m||R40m|
|Bantry Bay||Kloof Road||R24m||R34m|
|Bishopscourt||Upper Hillwood Avenue||R21m||R37m|
|Hyde Park||Christopherson Road||R20m||R24m|
|Constantia||Klein Constantia Road||R20m||R33m|
More on wealth in SA