Three major coastal cities continue to outperform the rest of the country’s housing market.
Property prices in the Western Cape have traditionally increased more rapidly than those in other provinces, but the significant slowing in price growth here has made the province more attractive and competitive again, says Lew Geffen Sotheby’s Arnold Maritz.
“The Western Cape government is also implementing initiatives to bolster law enforcement, over and above that provided by the national government. If those prove successful, and crime rates decrease relative to the other provinces, the Western Cape could become even more attractive.”
Citing Lightstone data, Pieter Janse van Rensburg of Just Property says the three major coastal cities continue to outperform the rest of the country’s housing market.
Cape Town remains the top performing metro in the country with 4% growth (between January and June 2019), while Joburg is the weakest at just 1.2%.
Port Elizabeth came in at 3.7%, and Durban and Tshwane came in at 3.4% and 2.2%, respectively.