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Saturday, 17/8/2019 | 15:50
  
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Lightstone examines purchasing trends in Western Cape

The Cape Town Property Market was placed under the spotlight during the recent Cape Town’s Property Buyer’s Show and we provided analyses on the data and trends in this category.
Lightstone’s analysis includes the data of nearly eight million registered properties across South Africa; 83% of which are residential properties and 17% non-residential. The total of 6,7 million residential properties are valued at R5,4 trillion; a figure which is heavily supported by the R2 trillion Gauteng market. Freehold properties remain the largest percentage of this figure with 67%; estates follow at 18,3% and sectional title with 14,2%. Estates consist of a much higher proportion of total value vs. volume as these properties are on average valued at three times more than normal freehold properties.
 
An overview of the national property market
Gauteng is still the province with the densest portion of total residential properties in both value and volume:
 
Disparity of residential properties across South Africa
In a municipal breakdown, the following list includes the top five South African municipalities in terms of value:
  Municipality Value
1 City of Cape Town R 1,6 trillion
2 City of Johannesburg R 0,94 trillion
3 City of Tshwane R 0,54 trillion
4 Ekurhuleni R 0.45 trillion
5 Ethekwini R 0, 41 trillion
 
As it stands, the two provinces Western Cape and Gauteng feature the larger proportion of properties and total value with more than 50% of the national market value captured in these two provinces.
In Johannesburg the suburbs of Bryanston, Morningside and Midstream are the highest valued suburbs, and in Cape Town; Sea Point, Rondebosch and Fresnaye are the areas that captures the most value. In an interesting finding, Umhlanga in Kwazulu-Natal also features amongst the top ten suburbs with the highest value.
Additionally, Lightstone data reveals the most expensive streets and suburbs in Cape Town, with the highest valued street being Beauvais Road in Bel Ombre with an average value of R43, 7 million per property. Llandudno is the suburb with the highest value of R 19, 3 million per property on average. Like previous years, the Cape Town’s property growth remains above the national average. The top three inflationary growth suburbs in the Western Cape over the last 12 months are Sillwood Heights, Voëlklip and Hospital Hill.
 
Most expensive streets and suburbs
 
Top 10 suburbs with the highest growth in Cape Town
One of the most encouraging findings in the Lightstone analysis is that the number of single female buyers has increased to over 71 727 in 2018; a figure which is almost 10 000 more than their male counterparts whom only account for 62 032 of homes purchased over the last 12 months. Male buyers do however still on average buy properties with a higher value than female buyers.
 
Female ownership statistics
As a bustling cosmopolitan province, Cape Town should continue to show steadfast and reliable growth in the years to come.