{"id":137251,"date":"2016-09-19T19:00:21","date_gmt":"2016-09-19T17:00:21","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=137251"},"modified":"2016-09-19T17:56:53","modified_gmt":"2016-09-19T15:56:53","slug":"this-is-the-average-house-price-in-south-africas-most-expensive-neighbourhood","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/lifestyle\/137251\/this-is-the-average-house-price-in-south-africas-most-expensive-neighbourhood\/","title":{"rendered":"This is the average house price in South Africa’s most expensive neighbourhood"},"content":{"rendered":"

The average price of a home in Clifton, in Cape Town has soared in 2016 – with wealthy Joburgers buying up high-priced properties in South Africa’s most expensive suburbs.<\/p>\n

According to data from Lightstone Properties, the average price for a house in Clifton has jumped R2.84 million to R33.3 million – the highest average for any suburb in South Africa.<\/p>\n

Clifton is one of two top-end suburbs to reach an average over R20 million, with the other being Bantry Bay, where an average home is R21.9 million – excluding the recent R290 million sale in the area<\/a><\/strong>.<\/p>\n

According to Lance Cohen of Seeff properties, Joburg and Gauteng buyers have dominated the high-end Cape Town property market in 2016, buying up 12 top end homes to the total value of almost R350 million.<\/p>\n

Read: Here are the 22 most exclusive streets for South Africa\u2019s ultra-rich<\/a><\/strong><\/p>\n

Joburg buyers have also paid some of the highest prices:<\/p>\n