Johannesburg Housing Market Report - 2020

With support from the Cities Support Programme of National Treasury, the Citymark project undertakes analysis of South Africa’s residential property markets, with a particular focus on the lower end of the market. Utilising title deeds data obtained from Lightstone Pty Ltd, the analysis separates the market into five segments, allowing the careful examination of the differentiated performance of the entry level (under R300 000), affordable (R300 000 – R600 000), conventional (R600 000 – R900 000), high-end (R900 000 – R1.2m) and luxury (over R1.2m) markets.

As part of our series of reports on the eight metros in South Africa, this report on the residential property market in Johannesburg, Gauteng, provides a detailed analysis of government-sponsored properties, freehold and sectional title homes, new and resale transactions, lending, and first-time homeowners. Given the COVID-19 pandemic, the report includes a high-level analysis of the impact of COVID-19 on the property market.

Johannesburg’s residential property market includes 805 668 properties, of which more than 40% were valued under R600 000 in 2019, making for a sizable affordable segment. Notably, 27% of all residential properties are government subsidised housing. In 2019, 71% of all residential transactions were in the resale market– a key entry point for first-time homebuyers/owners. In the resale market, banks continue to issue more bonds in the upper market segments. Looking forward to 2020, COVID-19 is expected to have a notable impact on residential transaction volumes.

CAHF’s work in South Africa is supported by:

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