South Africa’s Metropolitan Property Prices 2009 Reported by SAPTG - South African Property Transfer Guide SAPTG provides online access to data, tools and resources for property professionals in South Africa. SAPTG is easy-to-use and simple-to-search aiding effective property valuation, market tracking and analysis, suburb profiling and trending and consumer credit worthiness reporting. Visit the SAPTG website
So, what’s in this report? We review the median property prices of metropolitan areas in South Africa, as determined by the records of sales for 2005 - 2009 and include forecasts of possible future values based on current trends. Metropolitans covered include: Johannesburg, Pretoria, Cape Town, Durban, Port Elizabeth and Bloemfontein. Important Report Methodology As with any report, it is important to understand the methodology and parameters of the research applied. For the report on property values in South Africa, the following rule set was applied:
Examine sales concluded between 1 January and 31 December for each year.
Includes full title (free standing) and sectional title property but excludes farms.
Excludes sales where purchase price was less than R200k and greater than R20mil.
Includes sales between natural persons, trusts and CC's and excludes as far as possible industrial, commercial and / or government transactions.
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Graph of Median Values : 2005 - 2009 Visit the SAPTG website
Graph of Median Values : 2005 - 2009 A median value is the mid-point between a range of numbers – differing from an average, but used to give a more “statistically correct” view of the general value. Visit the SAPTG website
Bloemfontein : Trends and Forecast CAGR : 6,67% Visit the SAPTG website
Cape Town: Trends and Forecast CAGR : 6,34% Visit the SAPTG website
Durban: Trends and Forecast CAGR : 3,08% Visit the SAPTG website
Johannesburg: Trends and Forecast CAGR : 6,41% Visit the SAPTG website
Port Elizabeth: Trends and Forecast CAGR : 3,86% Visit the SAPTG website
Pretoria: Trends and Forecast CAGR : 5,50% Visit the SAPTG website
Summary : Metropolitan House Prices 2009 Median Values: Cape Town takes trumps with a median value in 2009 of R829,500. Port Elizabeth reports the lowest median value in 2009 at R580,000. CAGR (Compound Annual Growth Rate): Bloemfontein shows the most aggressive CAGR at 6,67%, whilst Durban median property value grows slowest at 3,08%. Forecast Values: All things remaining stable (which we know seldom happens ) and based on current CAGR, by the end of 2010 Cape Town will show a median value of R880,00 and R910,000 by the end of 2011. Port Elizabeth will climb to a median value of R605,000 by the end of 2010 and R640,000 by the end of 2011.
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Disclaimer The information in this document and its attachments is derived from sources which are regarded as accurate and reliable. However, the content of this report does not constitute advice, may not be applicable to all circumstances and may include projections based on past trends where actual or verifiable data is unavailable. Detailed advice and or consultation with SAPTG should be sought in individual cases and queries. All opinions, estimates and forecasts contained in this report may be changed after publication at any time without notice. No liability is accepted whatsoever for any direct or consequential loss arising from the use of this document. While every effort has been taken to ensure that no errors, unforced omissions or inclusions have been made, no responsibility for any error, omission or loss sustained by any person acting or refraining from acting as a result of this document is accepted by Knowledge Factory (Pty) Ltd its subsidiaries, and / or the authors of the material. Visit the SAPTG website