Cape Town Property Market Outpaces Johannesburg in Price and Sales Volumes

Cape Town continues to outperform Johannesburg’s property market, with higher average prices and stronger sales volumes over the past six years, according to new data from Lightstone.

The data reveals that between 2019 and 2024, Cape Town’s property market consistently outpaced Johannesburg, both in terms of average property prices and total sales volumes.

While Cape Town’s sales have surpassed pre-pandemic levels, Johannesburg’s property sales have declined below 2019 levels, highlighting a growing gap between the two cities.

Average Property Prices: Cape Town vs. Johannesburg

Over the past six years, Johannesburg’s average residential property price has remained between R1 million and R1.5 million. In contrast, Cape Town’s average property price has increased from R1.6 million in 2019 to over R2 million in 2024.

The city’s rising property values are further supported by a growing number of out-of-town buyers relocating to the area. Lightstone’s data shows that the percentage of Cape Town buyers who had previously owned property in the city dropped from 77% in 2021 to 72% in 2024, meaning more buyers are coming from outside the region.

Suburbs with the Highest Property Values

Llandudno tops the list as the most expensive suburb in Cape Town, with an average property sales price of R26 million. Other high-value suburbs include:

• Bishopscourt – R23 million
• Goedehoop Estate – R21 million
• Clifton – R20 million
• Constantia – R18 million
• Alphen – R17 million
• Sweet Valley, Bel Ombre, Noordhoek, and Sillery – R16 million each

Areas with the Highest Property Sales Volumes

The highest property sales volumes in Cape Town were recorded in The Hague (Delft), with over 1,000 properties sold at an average price of just over R133,000. Other high-sales areas include:

• Sea Point – Average price: R3.8 million
• Sandown – Average price: R1.79 million
• Cape Town CBD – Average price: R2.45 million

With property prices and sales volumes continuing to rise in Cape Town, the city remains South Africa’s strongest residential property market, further widening the gap with Johannesburg.

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