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Five inland and one coastal province have recently gained popularity among South Africans looking to relocate.
The provinces have become increasingly popular with buyers looking for affordable living close to economic opportunities.
Bradd Bendall, BetterBond’s National Head of Sales, says inland provinces are often overlooked compared to coastal provinces. However, they are seeing a growing interest in inland regions where younger buyers can afford to invest in property.
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He says according to their regional review, there was strong demand for homes in the Free State in 2024, with Bloemfontein accounting for 1 118 transactions, outperforming any other town in the province.
“House prices in the City of Roses have also increased from R980 000 in 2024 to more than R1 million this year.
“Most of the buyers were between the ages of 36 and 49, which suggests that the city is a popular option for families drawn to its more laidback lifestyle.”
Bloemfontein is viewed to have affordable and varied property options, proximity to a range of educational institutions and an appealing lifestyle.
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“Limpopo is fast gaining a reputation as one of the fastest-growing inland regions in the country,” says Bendall.
In 2023, average house prices in Polokwane, where most of the sales activity occurs, increased to more than R1 million.
He adds that the average house price in Hoedspruit, with its wide offering of lifestyle estates in the heart of the Lowveld, is double that at more than R2 million.
“This town has also become increasingly attractive to international buyers. They visit the Kruger National Park and love its natural beauty and idyllic lifestyle.”
He says a significant increase in the semigration of buyers to areas adjacent to urban areas was reported.
In 2024, the percentage of the population living adjacent to larger urban areas increased from 4.4% to 5.7%.
“Many of these buyers invested in property in Polokwane in Limpopo and Rustenburg in the North West.”
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Bendall said Johannesburg remains the region’s property powerhouse, accounting for 5 820 of BetterBond’s application intake in 2024.
The province has rebounded in recent months, with much of the sales activity taking place in the affordable market, where homes around the R800 000 price point are being sold.
“As the country’s economic hub, Gauteng remains an attractive investment option.
“But the real activity is happening in the Johannesburg South East, where buyers seek a range of property options in suburbs such as Bedfordview, Edenvale and Greenstone.”
In the past 12 months, BetterBond has recorded a 6% year-on-year increase in bond applications for homes in this region.
“Significantly, the applications from first-time buyers increased by a substantial 17% in the past year.”
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Bendall says Mpumalanga is often viewed as a holiday destination because of popular attractions such as the Kruger National Park, but this province is now earning its stripes as a sought-after residential option.
“Lightstone reported last year that Mbombela (Nelspruit) reported sales of between R5 million and R10 million for luxury homes in lifestyle estates.
“It’s not surprising that this town was the top performer in the province last year when looking at BetterBond’s home loan volumes.”
He adds that buyers are drawn to the area’s natural beauty and the economic opportunities offered by its coal, tourism, and agricultural sectors.
“Property24 reports that the average sales price has increased from R1.2 million in 2024 to R1.975 this year.“
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The one coastal province on the list is Western Cape. Bendall says Paarl and Somerset West both featured prominently in BetterBond’s loan application intake for 2024.
“Paarl forms part of the Cape Winelands, a region with the sixth-highest number of high-net-worth individuals in Africa.”
Lightstone identified Somerset West as among the towns attracting the most semigrants from other parts of the country.
“This is supported by BetterBond’s intake data, which shows it to be one of the most popular inland areas in the Western Cape.”
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