Semigration and lifestyle changes sparked renewed activity in many areas, but especially in coastal towns. Search for property during December 2021 shows that the Western Cape is still top of mind for most South Africans looking to invest in property.
However, Gqeberha, formerly known as Port Elizabeth has overtaken Johannesburg as the most search, when comparing December 2020 most search listings to the same period in 2021. This further cements the trend of people looking for a better quality of life.
READ: 10 Johannesburg neighbourhoods offering a good quality of life
Most popular suburbs
In the first month of 2022, the city of Gqeberha received in excess of 4.3 million pageviews on Property24, and an overall 11.1 million pageviews for the 3-month period between November 2021 to January 2022.
The average asking price for Gqeberha was about R1.099 million during 2021, according to listings on Property24. The top five suburbs receiving the most interest across Property24 over the last three months include Summerstrand, Lorraine, Westering, Motherwell and Bluewater Bay.
| Top 5 most searched suburbs in Gqeberha on Property24 between November 2021 and January 2022 | ||
| Suburb | Average Asking price in 2021 | % Difference in Average Asking Price for 2020-2021 |
| Summerstrand | R2 350 000 | 4% |
| Lorraine | R1 130 000 | 3.% |
| Westering | R950 000 | -5% |
| Motherwell | R445 000 | 5.% |
| Bluewater Bay | R1 497 000 | 16.% |
Source: Property24 Trends Data
“Affordability and accessibility means that the ‘Friendly City’ is living up to its nickname when it comes to welcoming home buyers. Furthermore, a year of record-low interest rates has made it even easier for new buyers to invest in property,” says Carl Coetzee, CEO of BetterBond.
“First home buyers are now able to afford more than they did early in 2020, when the prime lending rate was at 10%. Despite this strong house price growth, Gqeberha has an abundance of new developments and sectional title options offering exceptional value for money, adds Coetzee.
Developments in Fairview, Walmer and Overbakens are ideally placed for those buying in the R750 000 price band, says Paul Stevens, CEO of Just Property. Properties of R500 000 to R750 000 account for the lion’s share of properties sold by Just Property between January and July this year. Similarly, 42% of properties sold in King Williamstown and 35% of those sold in Buffalo City fell within this price band.
If you’re an aspiring homeowner looking to invest on affordable property in Gqeberha, look no further than these homes now for sale:
1. Family home with magnificent ocean view in Beachview for R2.499 million
This stunning property is perfectly positioned within the coastal Beachview village, offering 180-degree ocean views and tranquility like no other. The home has five bedrooms, four bathrooms, a two-bedroom flatlet, pool, enclosed patio with bar and built-in braai.
Click here to view.
2. A perfect starter home in Glenroy Park for R1.395 million
This 112sqm neat home offers three spacious bedrooms, two bathrooms, an undercover braai area, good security and super large garden.
Click here to view.
3. Lovely bright home in Bluewater Bay for R1.55 million
This spacious modern home offers well-lit, open-plan layout with stunning finishes, three bedrooms and bathrooms and is close to schools and amenities.
Click here to view.
4. Easy living in Beverly Grove for R2.599 million
5. Life is easy in Bluewater Bay for R2.95 million
Set within a walking distance to the beach, this property offers seven bedrooms, three bathrooms, a balcony and spacious garden.
Click here to view.
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*Property24 Listings Data Disclaimer: The trends detailed in this article are based on Property24 listings, current at the time of publishing, and property transfer data supplied by Deeds offices, which typically take 3-4 months to reflect. Suburbs are listed according to Property24's geographical database. In some areas this will include both commercial and residential properties. The age demographic data of buyers, sellers and stable owners is determined over a six-month period. These Property Values should not be used as a substitute for independent professional advice and is subject to Property24.com Terms and Conditions
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