Property Newsletter | July 2022
Property recovery holds its own
Transfer volumes steady, value of transactions soar
Total residential property transfers are on track to match or exceed 2021 after the drop in sales caused by Covid-19 in 2020.
Total transfers for Q1 and Q2 in 2022 amount to 129 642, marginally down on 2021 when 130 102 transfers took place in Q1 and Q2.
Total volume of transfers
However, the total purchase price soared to R156b in 2022, well up on the R69b recorded in 2020 and the R112b in 2019.
The data suggests the property market is continuing its recovery from Covid-19 and is showing signs of growth – despite both local and global economic and political challenges.
Total purchase price
Q1 and Q2 total value of transfers per year
While the total number of transfers has fallen marginally, there has been a sharper decline in the volume of bonded transfers being 10.8% down in Q1 of 2022, and 5.9% down in Q2. Bonded transfers in 2022 have dropped to 68 731, 53% of all transfers, from 74 986, 57% of all transfers in 2021.
Total volume of transfers
Total volume of bonded transfers
The total purchase price of all properties has increased from R153b in Q1 and Q2 of 2021 to R156b in 2022. The total purchase price of bonded properties has declined from R104b in 2021 to R101b in 2022.
Total purchase price
Total purchase price of bonded transfers
The graphs below demonstrate that while Gauteng accounted for 37% of all transactions in Q2 of 2022 compared to 24% in the Western Cape,sales values were the same in both provinces at R31b (36%) of total sales. This suggests that sales in the Western Cape are commanding higher values.
Q2 volume per year
Q2 value per year
In terms of provincial mix, most transactions take place in Gauteng, with the Western Cape second and KwaZulu-Natal third.
Q1 % of mix
Q2 % of mix
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