A very positive 2022 for Cape Town residential property indeed, not so for commercial which still shows a slow recovery post Covid lockdown.
- Residential Sales continues to show positive upward growth in median price.
- There is also strong upward growth in our residential in regards units sold year on year.
- The annual residential index in the City of Cape Town and Plumstead has a healthy upward trend which is indicative of the vibrant market driven by low levels of inventory in the middle market which is now under R3 000 000.
- This is both for freehold and sectional title with freehold holding the upper hand with 64 percent of the sales in 2022 and becoming increasingly attractive to home owners for value and security.
- The age group 18 to 49 represents a little over 70 percent of the buyers in 2022 in Plumstead.
- Plumstead remains a great area to invest in and live in with comparatively good value for money and quality of life including convenience to the infrastructure and the commercial hubs.
