Buying in Sandton, Krugersdorp, Cape Town

When planning to buy a house or any kind of property in South Africa, whether residential or commercial, wouldn't it be great to have a platform where you may familiarise yourself with your potential neighbourhood before making a financial commitment? Well, CyberProp with assistance of SAPTG - South African Property Guide - has compiled some interesting real estate statistics that will come in handy when making a property purchasing decision.

It is always advisable that one takes a long term view of the property market especially of the area one is planning to buy in. Every area has its unique property sales patterns, thus a smart buyer should consider factors such as average, low end, middle bracket and upper bracket prices, as these findings could be very useful indicators of what current trends in house or general property prices are throughout South Africa in comparison to the area one is planning to invest in. For instance, a trend of rentals or property for sale in Sandton is completely different from that of property for sale in Krugersdorp or property for sale in Cape Town.

In this article, using SAPTG stats, we are going to take a closer look at important factors that you, a prospective homebuyer, should take into consideration before purchasing a property in any of the above mentioned areas. 

Starting with a psyche of homebuyers in Sandton for instance, other than being South Africa's number one business hub, Sandton is home to the most sophisticated residential and commercial estates in Gauteng therefore property pricing in that area would reflect that perception. 

For instance, there are a total number of 149 suburbs in Sandton. In the past 12 months (2013-05-01 to 2014-04-30) there were 6,849 property sales with an average registration period of 119 days. Total count of Full Title sales were 3,245 and 3,604 for Sectional Title properties. 

The sales in the prior year (2012-05-01 to 2013-04-30) were 6,923 property sales with an average registration period of 120 days. Total count of Full Title sales were 3,117 and 3,806 for Sectional Title properties. The total Real Estate Sales value for Full Title and Sectional Title sales in Sandton were R33,918,930,689 with the median price of R1,500,000 compared to R31,529,563,959 with the median price of R1, 440,000 for the prior period. 

The total Real Estate Sales value for Full Title sales in Sandton were R20,350,116,738 with the median price of R2,400,000 compared to R15,482,536,242 with the median price of R2,200,000 for the prior period. The total Real Estate Sales value for Sectional Title sales in Sandton were R13,568,813,951 with the median price of R1,009,500 compared to R16,047,027,717 with the median price of R1,000,000 for the prior period. 

Krugersdorp on the other hand is an industrial hub of the Gauteng's West Rand district and it owes its establishment to the discovery of gold and mining in the area. Its richness in cultural and historical background influences the buying and selling decisions in its property market. 

There are a total number of 70 suburbs in Krugersdorp. In the past 12 months (2013-05-01 to 2014-04-30) there were 3,442 property sales with an average registration period of 117 days. Total count of Full Title sales were 2,421 and 1,021 for Sectional Title properties. 

The sales in the prior year (2012-05-01 to 2013-04-30) were 4,393 property sales with an average registration period of 136 days. Total count of Full Title sales were 3,428 and 965 for Sectional Title properties. 

The total Real Estate Sales value for Full Title and Sectional Title sales in Krugersdorp were R4,830,254,848 with the median price of R800,000 compared to R2,429,743,759 with the median price of R625,000 for the prior period. 

The total Real Estate sales value for Full Title sales in Krugersdorp were R4,028,443,719 with the median price of R952,500 compared to R1,815,729,296 with the median price of R690,000 for the prior period. The total Real Estate Sales value for Sectional Title sales in Krugersdorp were R801,811,129 with the median price of R600,000 compared to R614,014,463 with the median price of R550,000 for the prior period. 

We then take a look at Cape Town; the oldest city in South Africa. Voted the favourite foreign city by the UK Telegraph in 2004, Cape Town is one of the leading tourists' destinations in the world. A recent survey has revealed that two out of three tourists to South Africa will certainly include Cape Town in their destinations' list, thus the psyche of property buyers and sellers in Cape Town would lean towards that philosophy. 

There are a total number of 201 suburbs in Cape Town. In the past 12 months (2013-05-01 to 2014-04-30) there were 16,680 property sales with an average registration period of 124 days. Total count of Full Title sales were 10,398 and 6,282 for Sectional Title properties. 

The sales in the prior year (2012-05-01 to 2013-04-30) were 14,791 property sales with an average registration period of 119 days. Total count of Full Title sales were 9,470 and 5,321 for Sectional Title properties. 

The total Real Estate Sales value for Full Title and Sectional Title sales in Cape Town were R36,610,624,537 with the median price of R957,142 compared to R40,764,551,725 with the median price of R945,990 for the prior period. 

The total Real Estate Sales value for Full Title sales in Cape Town were R20,418,309,950 with the median price of R900,000 compared to R22,013,367,543 with the median price of R865,000 for the prior period. 

The total Real Estate Sales value for Sectional Title sales in Cape Town were R16,192,314,587 with the median price of R1,045,000 compared to R18,751,184,182 with the median price of R1,012,500 for the prior period. 

For more information regarding property valuations and suburb trends for Sandton, Krugersdorp, Cape Town or any other listed area in South Africa, visit www.SAPTG.co.za


 

 

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