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 four segments, allowing the careful examination of the differentiated performance of the entry level (under R300 000), affordable (R300 000 – R600 000), conventional (R600 000 – R1.2m) and high end (over R1.2m) markets. By merging suburb-level data from the deeds registry with StatsSA subplace data from the 2011 Census, we can undertake detailed, spatial analysis of residential property markets.
As part of our series of reports on the eight metros in South Africa, this report on the residential property market in eThekwini, Kwa-Zulu Natal, provides a detailed analysis of government sponsored properties, freehold and sectional title homes, new and resale transactions, lending, first-time homebuyers. With a residential property market valued at R390.7 billion in 2017, over half (51%) of eThekwini’s residential properties are valued R600 000 or less. Only 21% of eThekwini’s residential properties are government-subsidised—the smallest share of all the metros. 2017 saw a steep increase in new registrations, largely due to government housing programmes. In 2017, 50% (or 7 904) of all transactions in eThekwini were bonded—primarily in the resale market.
CAHF’s work in South Africa is supported by: