Research and data group Lightstone has published a list of the most expensive streets in Gauteng, the Western Cape and KwaZulu-Natal.
According to Lightstone, with an average value of R27.3 million Nettleton Road in Cape Town tops the list as the most expensive street in the Western Cape, and South Africa.
This is followed by two other Cape Town streets: Hillwood Avenue in Bishopscourt (R25.1 million) and Steenways Road in Llandudno (R24.9 million).
Near the end of 2017, Coronation street in Sandhurst carried an average price of R26.8 million – but according to Lightstone, a recent sale under that value could explain the average being brought down to R24.3 million, putting it behind the Cape leaders, and even pulling it behind Gauteng’s new number one.
A higher-priced sale on Killarney Street (also in Sandhurst) would have pulled the street’s average up to become the most expensive street in the province at an average price of R24.6 million.
KwaZulu Natal’s most expensive street tracks far behind Gauteng and the Western Cape, with Hunnington Wood Road in Mount Edgecombe carrying an average of R11.4 million.
Realty group Seeff notes that Nettleton Road is one of the most sought-after streets in the country, offering ‘palatial homes’ that cater to a very elite kind of buyer.
Nettleton Road is reputed to be the most expensive and most sought-after street in Africa, and it is not uncommon to find house listings on the street asking for well over R100 milllion, attracting foreign interest, by buyers who are drawn to its prime location overlooking the Atlantic, which provides stunning views.
However, while the most expensive streets in Cape Town cover quite a few different suburbs (always with the popular Atlantic Seaboard in mind), all the top streets in Gauteng are found in one specific area: Sandhurst.
Sandhurst, adjacent to the Sandton CBD, generally offers homes of around 1,000sqm-1,400sqm with all the bells and whistles, on large plots of up to 8,000sqm priced anything up to R20 million-R100 million.
In contrast, Clifton’s Nettleton Road has less land, with homes multi-tiered; but because of its location, it can attract prices exceeding R100 million.
Research carried out by New World Wealth towards the end of 2017, showed that Camps Bay and Bakoven contained in excess of 200 homes valued at more than R20 million – making it the most expensive area in the country, followed by Clifton (110 homes) and Constantia (100 homes).
In Gauteng, Sandhurst, Houghton and Hyde Park also exceeded 100 homes attracting those kinds of valuations.
The averages below are based on all 2017 sales.
|Killarney||Sandhurst||Sandton||R24 605 882|
|Coronation||Sandhurst||Sandton||R24 300 540|
|Stewart||Sandhurst||Sandton||R23 628 571|
|Trafalgar||Sandhurst||Sandton||R23 128 571|
|Jutland||Sandhurst||Sandton||R20 712 857|
|Hunnington Wood||Mount Edgecombe||Phoenix||R11 400 000|
|Palm||Zimbali||Ballito||R10 833 333|
|Eastbourne||Morningside||Durban||R10 765 384|
|Milkwood||Zimbali||Ballito||R10 626 470|
|Hickory||Hawaan Forest Estate||Durban||R9 612 500|
|Nettleton||Clifton||Cape Town||R27 334 615|
|Hillwood||Bishopscourt||Cape Town||R25 071 428|
|Steenways||Llandudno||Cape Town||R24 928 000|
|Torquay||Bishopscourt||Cape Town||R24 225 000|
|Glen Beach||Camps Bay||Cape Town||R22 843 333|