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Cost calculations

Apr 19, 2017 | Property News

Add price per square metre to your reckonings if you are considering investing in property

Price per square metre is an unbiased, numbers-based perspective on the value of property, and is one of many aspects to be taken into account when you are deciding where to buy. Property portal Private Property has compiled all the data from 2016 to fi nd out exactly what the property landscape looks like in SA. Says Private Property CEO Simon Bray: “As SA’s leading property portal, we are in the unique position of being able to analyse data for the whole country and provide useful insights for those who are interested in property.”

PRICIEST

Perhaps unsurprisingly, the Atlantic Seaboard in Cape Town comes in as the most expensive property, at R43,750/m2, with a median size of 111m2.

The Cape Town City Bowl is next, but R12,000 cheaper at R31,588/m2, and a median size of 91m2. This is the second smallest median size after Stellenbosch, the sixth most expensive at R19,111/ m2 and 66m2.

Cape Town owns the top three spots, with the southern suburbs coming in after the City Bowl, R9,000 cheaper at R22,303 but notably bigger at 129m2. This makes sense seeing as the area is known for its homes.

KwaZulu-Natal follows, with Umhlanga’s 144m2 median homes costing R20,673/m2. Of the 10 most expensive areas, six are in the Western Cape, three in KwaZulu-Natal (Umhlanga, Ballito and Umdloti to Westbrook — all North Coast) and one in Gauteng: Sandton and Bryanston (North) at R16,923/m2.

The largest properties in the most expensive catergory are found in the Cape Peninsula, in False Bay, at 159m2, but at R15,200 their price per square metre seems a bargain. It is less than half the City Bowl and almost a third of the Atlantic Seaboard. 

CHEAPEST

If it is size you are looking for, you cannot do better than Middelburg in Mpumalanga, where the price per square metre is R6,378 and the median size of properties is 233m2. That is signifi cantly bigger than any other properties on the most aff ordable list, except for Krugersdorp in Gauteng, which is R1,500 more expensive per square metre at R7,658, but has properties of 220m2. Mpumalanga also takes the second cheapest slot, with Witbank coming in at R6,622/m2 and properties of 182m2. It is followed by Northern Pretoria priced at R7,136/m2. No Western Cape or KwaZulu-Natal suburbs make this list.

 

* This article originally appeared in Business Day Homefront

Credits: Photo: iStock, Text: Bridget McNulty

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