South Africa’s property market is showing signs of sustainable recovery following a drop in sales caused by Covid-19. Total residential property transfers are on track to match or exceed 2021 while the value of transactions has soared, driven by higher prices in the Western Cape.
Our lead story “Property recovery holds its own” assesses the market’s seemingly consistent revival, although total transfers for Q1 and Q2 in 2022 (129 642) were marginally down on the corresponding period last year (130 102).
The national trend is evident in Joburg East, which consists of 3 330 properties, and is dominated by Highlands North (1 307 – 39%), followed by Oaklands (644 – 19%) and Orchards (587 – 18%). In our story “Upswing in Joburg East’s property fortunes”, we find the value of property transactions and the volume of sales have risen since 2020.