Mzansi’s fed up with BIG cities: Here’s where South Africans are moving to
Despite tricky interest rates making it a buyer’s property market, this is where South Africans are moving to in their droves.
Latest findings from specialists Lightstone Property, show a surprising new pattern to where South Africans are moving. It would appear that since the COVID-19 pandemic, Mzansi is simply fed up with living in big cities.
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As reported by Business Tech, Gauteng is the biggest loser when it comes to property market share. And the biggest growth province is the Western Cape. However, it’s not Cape Town where South Africans are moving to, but rather smaller dorpies all around the Western Cape.
WHERE SOUTH AFRICANS ARE MOVING
Lightstone Property figures suggest that Mzansi is fed up with big-city living, and across the country smaller towns are benefiting from a migration from large metros. But where are South Africans moving to specifically?
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The biggest growth areas are Overstrand, Stellenbosch, Hessequa, Knysna, Prince Albert, Saldanha Bay, Swellendam, Bergrivier and Cape Agulhas in the Western Cape. Property sales market share in these areas has gone up from 15% to 17%.
LIFE’S A BEACH
The biggest loser is the City of Johannesburg in Gauteng which dropped from 16% to 15%. Ironically, it’s not just about the beach when looking at where South Africans are moving to, because KwaZulu-Natal (eThekweni and Msunduzi) has also lost market share, from 12% to 11%.
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Despite an increase in crime, the Eastern Cape enjoyed some growth, according to Lightstone Property. Following the trend of big city to smaller dorpies, the growth has occurred in the likes of Jeffreys Bay, St Francis, Port Alfred, Kenton-on-Sea and Mthatha. Nelson Mandela Bay and Buffalo City have declined.
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