Market research firm Lightstone has provided data and analysis to evaluate trends and segmentation within the property sector in South Africa – revealing the most expensive streets and suburbs in Gauteng.
Lightstone noted that property remains one of the oldest and most popular investments globally, and property forecasters have recently mentioned that the biggest deterrent for buyers is not the economy, but having confidence in the location of the property.
Lightstone’s analysis includes the data of 7.9 million registered properties across the country; 6.5 million of which is residential properties valued at R5 trillion.
The number one wealthiest area in the province belongs to Blair Atholl‚ situated in the City of Tshwane‚ which as a suburb has an average value of R11.2 million‚ followed by Westcliff (R10.5 million) and Dunkeld (R9.3 million).
The Sandton suburbs of Wierda Valley‚ Sandhurst‚ and Inanda are next, priced in the R7 million-R9 million bracket.
Top 6 most expensive suburbs in Gauteng
|1||Blair Atholl||Tshwane||R11.2 million|
|4||Wierda Valley||Joburg||R9.2 million|
With an average value of R26.8 million per house, Coronation Street in Sandhurst is highlighted as the most expensive street in the province, followed by 4th Road in Hyde Park (R16.9 million)‚ and 1st Road in Dunkeld West (R16.6 million).
Woolston Road in Westcliff‚ 9th Street in Houghton Estate and The Stables Close in Blair Atholl round up the top six.
Top 6 most expensive street in Gauteng
|1||Coronation Road||Sandhurst||R26.8 million|
|2||4th Road||Hyde Park||R16.9 million|
|3||1st Road||Dunkeld West||R16.6 million|
|4||Woolston Road||Westcliff‚||R13.7 million|
|5||9th Street||Houghton Estate||R13.2 million|
|6||The Stables Close||Blair Atholl||R13.0 million|