Western Cape house prices outperform Southern Cape

PRETORIA – The strong holiday-home-driven market in the Southern Cape, which includes Mossel Bay, George, Knysna, Plettenberg Bay and Oudtshoorn, has underperformed regions closer to Cape Town, but it has experienced higher house-price growth than the rest of the country.

House price growth in the Southern Cape had also exceeded that for holiday towns nationally.

John Loos, a household and property sector strategist at FNB, said the Southern Cape had underperformed the overall Western Cape house price index since the end of 2012.

Loos said house prices in the region had increased by a cumulative 42.9percent since the fourth quarter of 2012, whereas …read more