When looking at the South African property market, certain provinces tend to be more popular among buyers than others. The latest RE/MAX National housing Report reveals that for the fourth quarter of 2022, the Western Cape and Gauteng ranked in the top positions among RE/MAX browsers.
According to the report, Parklands in the Western Cape was the most searched for suburb on remax.co.za. This was followed by Faerie Glen and then Fourways in Gauteng. Bloubergstrand and Table View in the Western Cape placed fourth and fifth respectively.
These statistics mirror national trends. In a recent newsletter, Lightstone Property reported that the Top Ten suburbs by transaction volume for 2021 were all situated in either Gauteng or the Western Cape. In the Lightstone report, Faerie Glen placed fifth, while Table View and Parklands placed seventh and eighth respectively.
“The three suburbs in the Western Cape that featured in our Top Five searched suburbs on remax.co.za are popular areas as they tend to offer more affordable housing options compared to the other beachfront suburbs that are so appealing to those who are semi-grating from landlocked provinces such as Gauteng,” says Regional Owner & CEO of RE/MAX of Southern Africa, Adrian Goslett.
Fourways and Faerie Glen remain popular options for Gauteng buyers and these suburbs regularly feature in the Top Five Suburbs in the RE/MAX National Housing Reports. “These suburbs are well-established, desirable markets within in Johannesburg and Pretoria respectively. Both are situated near to the city centres and cater to a wide range of buyers,” says Goslett.
Surprisingly, KwaZulu-Natal did not feature in the fourth quarter’s Top Five last year. In previous RE/MAX Housing Reports, Musgrave in KZN featured in the Top Five Suburbs on more than one occasion and Essenwood in KZN also made an appearance.
“KwaZulu-Natal is rising in popularity among buyers, especially as more and more developments occur within the province. I would not be surprised if, in time, this province will feature more regularly among the top searched suburbs within South Africa,” Goslett predicts.
For investors who are not afraid to purchase outside of their own regions, knowing which suburbs are most popular in the country helps to clarify which offer the best opportunity for solid returns. “Those who are looking for popular suburbs within their own province should consult a local real estate professional who can advise on the latest trends within specific areas,” Goslett concludes.
