Average home prices in Port Elizabeth still low
The average prices of homes in Port Elizabeth are still low with a lot of sales activity in the below R1 million bracket.
on the area, prices on average are around the R750 000 mark for the
affordable and R1 000 000 to R2 000 000 for the middle and upper
The good news is that there is still a great deal of sales
activity in areas such as Newton Park close to the city centre and
Lorraine to the west of the city, where the average prices are in the
sub R1 million bracket and where prices have already stabilised.
Potential buyers of property in these and similar areas are abundant.
current price levels, any unbiased seller must accept the fact that the
vast majority of Port Elizabeth homes - but again particularly those in
the higher brackets, such as homes in Summerstrand, Walmer, Humewood
and Millpark (where in these areas prices could range from R1, 2 million
to R5 million) - are now exceptionally good value.
exactly the right time to buy if you want an investment in the property
market and experience some really exceptional capital growth.