Property prices in Mpumalanga have increased by more than 17% in the past year, a surge that has left even the Western Cape trailing far behind.
In fact, Limpopo follows in second place, with annual home price growth inflation above 7%.
When it comes to prices in the country’s metros, Buffalo City rules the roost, followed by Ekurhuleni; on the opposite end of the scale, KwaZulu-Natal and Gauteng – and their main cities, wallow at the bottom of the price inflation rankings.
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Stats SA’s latest Residential Property Price Index for March, released on Thursday, shows that nationally, property prices in the provinces grew by 3,6% in March 2023 compared to the year previously, while, in the metro areas, price growth was 3,1%.
Provincial property price inflation
Mpumalanga recorded price growth of 17,3% while Limpopo sits a fair bit behind with inflation of 7,4%.
These provinces are followed by:
- Western Cape: 5,7%
- Northern Cape: 4,2%
- Eastern Cape: 3,9%
- Free State: 2,8%
- Gauteng: 1,9%
- North West Province: 1,4%
- KwaZulu-Natal: 2,4%
Metropolitan property price inflation
East London’s Buffalo City recorded residential property price growth of 7,9%, and is followed by Ekurhuleni with 4,7%.
These metros are followed by:
- City of Cape Town: 4,6%
- Mangaung: 3,1%
- eThekwini: 3,1%
- Nelson Mandela Bay: 1,8%
- City of Johannesburg: 1,6%
- City of Tshwane: 0%
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