Asking price trends show how Cape property soars … [an Article in Moneyweb – 11 July 2025]
It’s one thing seeing the divergence in an aggregated index of house prices for a well-run metro such as Cape Town versus an underperforming one (say, Joburg). Most readers of this site will know that Cape residential property prices have handsomely outperformed those in Gauteng (and elsewhere).
But these are just numbers on a chart. Actual examples from real neighbourhoods show just how stark this difference is.
FNB’s house price index is averaging 2% year to date which, incredibly, is ahead of the bank’s original expectations.
FNB House Price Index, May 2025. Source: FNB
Notably, the recent strengthening of the index has been fuelled by a sharper decline in supply than by a rise in demand.
Simply put, there is not enough new stock being built – and this is not a new phenomenon.
So far this year, the volume of completed homes is down 14%, after annual declines of 7.4% last year and 25.9% in 2023.
MyProperty’s weighted index shows residential property prices in the Western Cape growing 8.7% between 2024 and 2025, versus Gauteng’s 2%. Since 2020, the former’s growth has been 30.5% according to this index, versus 9% for the latter.
When it comes to metros, these variances are even starker.
According to the MyProperty index, property prices in the City of Cape Town are up 24% since 2020. In the City of Johannesburg, this number is just 4% (not even keeping up with inflation).
Drilling into a suburb or region illustrates the real changes.
Inspired by FinTwit Johann Biermann, who cobbled together a quick analysis, Moneyweb analysed a number of regions and suburbs across the country.
Importantly, these are based on the average asking prices of all properties listed on Property24 (this includes vacant land and commercial property but residential properties far outweigh these).
| Average asking price | |||
| 2023 | 2025 | Change | |
| Greater Sandton | R2 200 000 | R2 249 000 | 2% |
| Greater Randburg | R1 626 300 | R1 485 025 | -9% |
| Midrand | R1 300 000 | R1 402 000 | 8% |
| Roodepoort | R1 250 000 | R1 195 000 | -4% |
| Centurion | R2 050 000 | R2 000 000 | -2% |
| Hout Bay | R4 995 000 | R6 300 000 | 26% |
| Fish Hoek | R2 495 000 | R3 200 000 | 28% |
| Sea Point | R4 783 250 | R5 987 500 | 25% |
| Durbanville | R2 950 000 | R3 099 000 | 5% |
| Blouberg | R1 800 000 | R2 700 000 | 50% |
| Paarl | R3 140 000 | R4 500 000 | 43% |
| Stellenbosch | R2 599 500 | R3 395 000 | 31% |
| Somerset West | R2 700 000 | R3 634 875 | 35% |
| Hermanus | R2 795 000 | R3 298 000 | 18% |
| Malmesbury | R1 899 900 | R2 300 000 | 21% |
| Langebaan | R2 200 000 | R3 250 000 | 48% |
| George | R2 550 000 | R2 980 000 | 17% |
| Umhlanga | R3 595 000 | R3 350 000 | -7% |
What’s noticeable from this analysis is just how poorly property prices in Johannesburg suburbs have performed when compared to areas in the Western Cape. There are nuances, however.
Joburg metro
In Property24’s trends data, Midrand includes Waterfall which would’ve boosted asking prices in that region.
Greater Sandton includes Sandton, Morningside, Bryanston, Woodmead and Fourways.
Greater Randburg is an even larger area that comprises Northcliff, Blairgowrie, Linden, Ferndale, Cresta, Fleurhof and Randpark Ridge.
Similarly, Roodepoort is what most people think of when they think of the ‘West Rand’ (aside from Krugersdorp). It also includes Cosmo City and Jackal Creek.
Due to the size of these areas, they are very representative of the dynamics happening in smaller suburbs across the metro.
Cape Town metro
By contrast, asking prices in regions across the City of Cape Town are up handsomely (with the exception of Durbanville, where large-scale developments are dragging the average lower as these are being priced at lower entry points than a typical Durbanville residential property).
This trend continues to areas, towns and cities outside of Cape Town itself, such as Paarl, Langebaan, George and Somerset West.
This is astonishing growth and speaks directly to confidence that sellers (and developers) have in these markets.
(Umhlanga’s relatively tepid performance is largely due to the large-scale developments at Sibaya which, by definition, are dragging average asking prices lower).
Asking vs actually selling …
It is important to stress that these are trends based on average asking prices, not on confirmed or completed sales.
Using those metrics, according to Property24’s tool, things look slightly different with sellers in the Western Cape clearly accepting more modest offers for their properties and those in Gauteng achieving decent prices for theirs.
| Average selling price | |||
| 2023 | 2025 | Change | |
| Greater Sandton | R1 800 000 | R1 895 000 | 5% |
| Greater Randburg | R1 300 000 | R1 350 000 | 4% |
| Midrand | R875 000 | R1 100 000 | 26% |
| Roodepoort | R950 000 | R1 000 000 | 5% |
| Centurion | R1 550 000 | R1 550 000 | 0% |
| Hout Bay | R3 768 000 | R4 500 000 | 19% |
| Fish Hoek | R2 200 000 | R2 558 000 | 16% |
| Sea Point | R2 950 000 | R3 300 000 | 12% |
| Durbanville | R2 750 000 | R3 150 000 | 15% |
| Blouberg | R1 740 000 | R1 850 000 | 6% |
| Paarl | R1 925 000 | R2 150 000 | 12% |
| Stellenbosch | R1 770 000 | R2 225 500 | 26% |
| Somerset West | R2 100 000 | R2 300 000 | 10% |
| Hermanus | R2 695 000 | R2 800 000 | 4% |
| Malmesbury | R820 000 | R850 000 | 4% |
| Langebaan | R1 695 000 | R1 800 000 | 6% |
| George | R1 750 000 | R2 495 000 | 43% |
| Umhlanga | R2 650 000 | R2 501 250 | -6% |
The Original Full Article can be viewed here: → https://www.moneyweb.co.za/investing/property/asking-price-trends-show-how-cape-property-soars/