- Residential property owners in Johannesburg have a month to object to new home valuations that the city will use to tax them.
- Some valuation increases have been extreme – but so has the rise in property prices in the city, averaging 22.9% over the past five years.
- In some suburbs prices have increased by half again on average. Others have been stagnant for half a decade.
Individual results may vary, the Joburg metro has argued, but its new valuations actually represent an average 30% increase over the five-year window since 2012 it is using to determine rates and taxes.
That is roughly within an inflation rate of 6% a year – and not a million miles from the average 22.9% increase in real house price sales growth Lightstone House price index over the same period.
But at the edges of the statistical curve are properties that have shot up in value well over the average.
- Houghton Estate
- Fleurhof Extension 2
- Kyalami Estates
- Bezuidenhout Valley
And there are also suburbs that have and suburbs that have seen price growth far below the average – and the rate of inflation.
- Glen Fernes
- Winchester Hills
- Rand Leases Gold Mine
- Windsor East
- Barbeque Downs
Owners have until 1 April to object to their valuations.
Receive a single WhatsApp message every morning with all our latest news. Sign up here.
- 5 of the most awe-inspiring new office buildings in South Africa
- The world's richest people are abandoning London, Rome, and Paris for an African destination
- The floor space of SA shopping centres will soon be bigger than four countries
- Tiger Brands' R2.2 billion processed meat business catches fire as listeriosis is traced to its Polokwane facility
- How the deadly strain of listeriosis was traced to Tiger Brands’ Enterprise polony factory
- We compared South Africa’s most popular takeout coffees — and the winner is clear
- This is probably the last chance ever to become a director of the Reserve Bank before it is nationalised
- Samsung's new Galaxy S9 display is better than the iPhone X
- Here is the perfect way to end an email — and 26 sign-offs you should usually avoid
- Here’s what a business class ticket on the first direct flight from Hong Kong to Cape Town on the brand-new A350 buys you
- Trump’s latest announcement will hurt South Africa and may spark a global trade war
- Elon Musk just posted a sensual Instagram picture with his tunnel-boring machine
- Facebook's Sheryl Sandberg has advice for male managers after #MeToo: Workplace equality is much more than stamping out sexual harassment
- 11 new skyscrapers to transform Cape Town’s skyline