Joburg property's hottest spring in years as prices soar past inflation

JOHANNESBURG’S property market is on fire this spring, with home prices finally breaking free from years of stagnation to deliver real growth that’s outpacing inflation for the fist time since the pandemic.

- NICOLA MAWSON

The city’s strongest buying season in years is unfolding as warmer weather coincides with a perfect storm of falling interest rates, surging buyer confidence, and chronic housing shortages - creating aseller’s market that industry insiders say resembles the mini-boom of 2021.

“Buyer interest in Johannesburg has really accelerated in recent months, with our agents reporting more show day traffic, stronger offers and faster conversions into sales than at any time since before the pandemic,’ says Stephen Whitcombe, MD of property group FIRZT Realty, which has seen sales have climbed every month since January.

FIRZT’s anecdotal findings continue a trajectory reported by BetterBond mid-August. Home loan applications for that month surged 12% year-on-year to their highest level since late 2022.