In case you missed it, on the 20th of July 2021 Property24 posted a very interesting article about the state of the property market in Nelson Mandela Bay Metropolitan. While we at Affinity Real Estate are very aware of the robust demand within the city it might come as a surprise to many that the metro is outshining some of the larger area’s in South Africa.
The article states that “According to Lightstone, strong house price inflation of 8% for January to February 2021 (latest available data) sees this city retain its place as the top performing metro housing market in South Africa. This even surpasses Gauteng solid house price growth rate of 5.7% over the same period.”
The article goes on to say that the “prevailing low interest rates, has created the perfect sellers market”, something which we at Affinity Real Estate can confirm and also attribute the lack of available stock to.
Another interesting focus of the article is on the top 15 suburbs in Gqeberha (formally known as Port Elizabeth), which you can find below. One thing to keep in mind, is that the table is sorted according to highest average price. Therefore, while Mill Park is at the top of the table it certainly is not the most searched suburb in the metro.
According to the article “The top five suburbs receiving the most interest across Property24 over the last three months include Summerstrand with the most pageviews, following by Lorraine, Motherwell, Algoa Park and Walmer.”
So whether you’re thinking about upgrading, downgrading your home it appears to be a great time to sell. On that note… If you are thinking about selling click on the button below to schedule a viewing or give us a call on 041 3733283
| Top 15 Gqeberha suburbs on Property24 between April to June 2021 |
| Suburb | Average Asking price in 2021 | % Difference in Average Asking Price for 2020-2021 | % Difference in Average Asking Price for 2019-2020 | % Change in number of listings per suburb 2019 – 2020 | % Change in number of listings per suburb 2020 – 2021 |
| Mill Park | R3 495 000 | 2% | 19% | 26% | -34% |
| Lovemore Heights | R2 697 500 | 9% | -1% | 6% | -36% |
| Sunridge Park | R2 450 000 | 9% | 2% | 12% | -40% |
| Summerstrand | R2 400 000 | 6% | 12% | 11% | -7% |
| Walmer | R2 299 000 | 4% | 47% | 38% | -39% |
| Bluewater Bay | R1 450 000 | 13% | 9% | -1% | -25% |
| Lorraine | R1 120 000 | 2% | 13% | -8% | -26% |
| Fairview | R972 500 | -2% | 13% | 4% | -23% |
| Westering | R880 000 | -12% | 18% | -22% | -5% |
| Kabega | R850 000 | 11% | -1% | -14% | -21% |
| Kwamagxaki | R720 000 | 2% | 7% | 3% | -36% |
| Kwadwesi | R597 000 | 20% | 12% | 9% | -18% |
| Algoa Park | R575 000 | -4% | 12% | -5% | -9% |
| Bethelsdorp | R478 000 | 4% | -8% | 20% | -25% |
| Motherwell | R450 000 | 7% | 10% | 10% | 1% |
You can read the full article here.