This is according to the FNB City of Cape Town Sub-Region House Price Index which noted the City of Cape Town’s estimated average house price growth rate at 13.8% year-on-year – a fifth consecutive quarter of slowing from a 10-year high of 15.7% revised rate recorded in Q1 2016.
The Atlantic Seaboard was followed by the City Bowl at 21.1%.
“These two regions were the clear top performers in Q2 2017,” said John Loos, FNB household sector economist. “However, whereas in previous reports we saw the other three of the “top 5” being in or around the Cape Peninsula, the pattern has become less clear.
“The Southern Suburbs region did take third spot by a very small margin with 14.7% year-on-year price growth. But coming into the top performer mix was the Western Seaboard (Blouberg-Milnerton-Melkbos) region in fourth with 14% price growth. The far more affordable region of Elsies River-Delft-Blue Downs was in fifth spot with 13.7% year-on-year average price growth.”