Worst performing suburbs: Where property prices have stalled
There are a few neighbourhoods that have seen cumulative price growth of less than 20%. That compares with average price growth of 40%-70% for their top-performing counterparts
The generally subdued trend in house price growth means the gap between the best-and worst-performing suburbs has narrowed markedly. While there isn’t a single suburb across the four major cities — Joburg, Cape Town, Pretoria and Durban — where prices have actually fallen in nominal terms over the past five years, there are a few neighbourhoods that have seen cumulative price growth of less than 20%. That compares with average price growth of 40%-70% for their top-performing counterparts. The weakest-performing suburb countrywide according to Lightstone’s data is Point Waterfront in Durban, which managed only a humble 15% price increase since 2013. Another suburb on the ocean’s edge, Harbour Island in Gordon’s Bay near Somerset West, is also one of SA’s lowest-growth suburbs over five years. Harbour Island marina development, fronted by a promenade lined with shops and restaurants, recorded growth of only 28% in the five years ended June. Lightstone analytics director Paul-Roux de K...
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