Where to find affordable suburbs in South Africa
Finding a home you can afford is not always easy. To narrow down your search parameters, it can be helpful to know which suburbs average more affordable prices than others.
High interest rates and slow economic growth means that affordability remains a top concern for buyers in today’s property market.
“Finding a home below the R1.1m price point can help make the purchase more affordable, as this falls below the SARS threshold for transfer duty, which will save the buyer tens to hundreds of thousands of Rands in upfront costs,” says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
To help buyers get a rough idea of where they might find a home priced below R1.1m, Goslett shared some insights gained from the listings that have been available.
Western Cape
Four suburbs had an average listing price near the R1m price bracket, namely Khayelitsha with an average listing price of R690 909; Saldanha at R948 476; Mitchells Plain at R1 060 797; and St Helena Bay at R1 096 398.
For those willing to pay between R1.1 – R1.5m, the search permeameters could extend to Delft (±R1.1m), Moorreesburg (±R1.2m), Eersterivier (±R1.4m), Kraaifontein (±R1.4m), and Atlantis (±R1.5m).
Gauteng
Six suburbs in Gauteng had an average listing price below R1m, including Evaton at R517 769; Temba at R564 400; Sebokeng at R614 571; Soshanguve at R712 573; Soweto at R868 941; and Mabopane at R999 275.
For those willing to extend the budget to between R1- R1.5m, your search could include areas such as Carletonville (±R1m), Randfontein (±R1.2m), Westonaria (±R1.2m), Akasia (±R1.3m), Nigel (±R1.3m), and Germiston (±R1.4m).
KwaZulu-Natal
Six suburbs had an average listing price below R1m, namely Adams Mission at R620 000; Umzinto at R664 266; Mtwalume at R838 268; Hammarsdale at R872 631; Umbumbulu at R908 312; and Hibberdene at R958 125.
For those able to afford homes that cost between R1.1 – R1.5m, the search permeameters could extend to Chatsworth (±R1.1m), Pennington (±R1.1m), Umlazi (±R1.3m), Kingsburgh (R±1. 4m), Pinetown (R±1.4m), Trafalgar (R±1.4m), and Scottburgh (R±1.4m).
Apart from this, Goslett recommends that buyers lean on the insights and guidance of a real estate professional to help them find the suburbs they can afford. “There might also be a well-priced home in a more expensive neighbourhood if you are willing to put in some work to renovate it. Speaking to a local real estate professional will help to tailor your search to your specific needs and lifestyle requirements,” Goslett concludes.
Writer: Kayla Ferguson
