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Township markets making tracks

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Township property markets in the Western Cape have developed their own recipes for success, with a few proving particularly appetising.

Fernando Antonio of ZAkasi says Mfuleni is the top selling area for his agency.

“Mfuleni is one of the fastest growing areas in the townships, attracting upcoming professionals such as police and nurses.” The average house price here has grown from R180 000 to R250 000. “Buyers are mostly from poor families who lived in informal settlements, or rented a flat or shack in a yard.

However, they have improved their lives thanks to their education and determination to strive for better.” These dynamics are also true of buyers in Khayelitsha. With an average property price of R300 000, this is ZAkasi’s second top seller in the township property market.

“Khayelitsha is the mother of all townships within Cape Town, and has the best infrastructure and CBD. It has also become an entertainment hub due to the recently established KwaAce Lounge, Rands Lifestyle Space and The Milk restaurant,” he says.

Rounding off the top three is Delft, which Antonio says is one of the fastest-growing townships in terms of infrastructure, including a new shopping mall. Buyers here, however, are from the poorest segment of the buyer market. “They cannot really afford to buy or build the house of their dreams.”

Property prices in Delft start at R170 000. Looking at future hotspots, Antonio predicts Philippi is an area to watch. “With three shopping plazas, easy access to public transport and the first business park in the heart of Philippi, this township is growing at a very fast rate. It is also presenting economic opportunities to residents in and around the area.”

Data from Property360 reveals Belhar is among the top four most searched areas for properties for sale, with more than 15 400 searches this year. It is followed by Mitchells Plain (12 200-plus), Khayelitsha (11 300-plus) and Grassy Park (10 600-plus).

Lightstone data shows Belhar saw the highest number of property transfers in the city this year, with 990 sales amounting to just under R300 million. These sales were made up of 644 sectional title properties (total sales R164.7m), 343 freehold (total sales of R131.19m), and three estate homes (total sales of R3.38m).

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