Lightstone, the leading provider of property analysis and insights, has released the results of how properties perform in the Sectional Title, Freehold and Estate property sales market.*
Of the Freehold and Sectional Title property sales, we see the ‘Generation Z’ – registered between the years 1991 and 2000 of property sales leading the charge with a steady price performance increase, year on year.
Sectional Title sales of properties aged 30 to 39 years have outperformed other age bands of properties in average property growth per year at 4.7%. This is followed by units aged 20-29 years with an average growth of 4.2% per year over the last 10 years. In the last 5 years alone, the 30-39 age band of Sectional Title properties that sold realised an average of 29% compared to 22% for the 20-29-year-old sectional units. Midrand and Modderfontein dominated as the most popular areas in terms of volume of 5-year-old properties that have sold in the last 5 years which would make sense considering the level of commercial, industrial and residential growth within these geographic parameters. Interestingly, single females are buying more sectional title properties older than 10 years compared to single males or couples (married or not).