SA’s top performing housing market | 15 most popular suburbs in Gqeberha + asking price averages
Nelson Mandela Bay Metropole, located on the shores of Algoa Bay in theย Eastern Capeย Province, is seeing robust growth in house prices, with activity in its residential property market rebounding to around pre-Covid levels.
According to Lightstone, strong house price inflation of 8% for January to February 2021 (latest available data) sees this city retain its place as the top-performing metro housing market in South Africa. This even surpassesย Gauteng Eastโs solid house price growth rate of 5.7% over the same period.ย
Most popular suburbs
In the month of June the city ofย Gqeberhaย received in excess of 3.7 million pageviews on Property24, and an overall 11.3 million pageviews for the 3-month period between April to June 2021.
The average asking price for Gqeberha, about R1.089m during 2020, has seen a 9% increase when compared to pre-pandemic period of 2019, according to listings on Property24. Retrospectively, the average asking price was R830k in 2015, and has increase by some 31%, over the five-year period up until 2020.ย
The top five suburbs receiving the most interest across Property24 over the last three months include Summerstrand with the most pageviews, following byย Lorraine, Mother Well,ย Algoa Parkย andย Walmer.ย
The suburbs falling squarely within the popular first-time-buyer price average of R1m includes Lorraine with an average asking price of R972k, having seen a 2% shift in 2021.ย
‘Mill Park Private Estate offering affordably priced family homes’
To cater for the demand for affordably priced family homes ideal for work-from-home, a brand-new development,ย Mill Parkย Private Estate, conveniently situated in easy reach ofย Greenacresย Mall, Greenacres Hospital, Collegiate Schools and Grey High School, has been launched.
Says Kreusch, โForty-five spacious, three and four-bedroom homes with open plan interiors and priced from R3.05 million offer the ideal option to work from home while children have their own space for homeschool or outside recreation – all in a secure environment and in close proximity to all amenities, including the Golf Club.
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Article Courtesy of Property 24. Read the Full Article here: https://bit.ly/3rlqMoK