Can’t believe it? I couldn’t believe it either. But according to ABSA’s Housing Review for the second quarter of 2013, Johannesburg Central and South have the cheapest houses in the mid-segment category in South Africa.
The review, which was for the first quarter and compared all the country’s provinces and metropolitan regions, showed that Johannesburg Central and South had the cheapest small and medium-sized houses in South Africa.
These are houses between 80-140m2 and 141-220m2, respectively.
The average price for small houses was R522 969 more than R200 000 below the national average of R759 112.
Bloemfontein had the most expensive houses in this category with an average price of R1 040 445, followed by East Rand with R941 667.
Johannesburg Central and South also had the cheapest medium-sized houses with an average price of R737 699 against the national average of R1 076 971.
The most expensive were in Cape Town and Western Cape averaging R1 377 040 and R1 273 902, respectively.
The tables were turned around in the large houses of 221-400m2.
The cheapest were in North West with an average price of R1 199 395.
Cape Town and Western Cape continued to be the most expensive with prices in Cape Town averaging R1 938 613.
Bloemfontein was the cheapest metropolitan region in this category. The average price was R1 528 820.
The provinces compared are: Eastern Cape, Free State, Gauteng, Kwazulu-Natal, Mpumalanga, North West, Northern Cape, Limpopo and Western Cape.
The metropolitan regions are; Port Elizabeth/Uitenhage, East London, Bloemfontein, Greater Johannesburg, Johannesburg Central and South, Johannesburg North and West, East Rand, Pretoria, Durban/Pinetown and Cape Town.
Please email me at [email protected] for the figures in excel so that you play around with them.
This story if from my new blog How to buy a house for half the price.