These are the 10 suburbs in Johannesburg where property prices have increased by more than 50% in the past five years – and the 11 suburbs that have been left far, far behind
- 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.
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