The average purchase price of homes in Limpopo increased to R1.5 million in March, according to the latest statistics from ooba Home Loans. This is a remarkable 7.4% increase in less than a year.
The price of properties for first-time buyers has also increased sharply in a short time - from R918 500 in July 2022 to R1.295 m in March 2023. This now makes Limpopo's average first-time buyer price higher than the national average purchase price.
“This is a good indicator of property confidence in the outlying regions,” says ooba chief executive Rhys Dyer.
Hoedspruit
He says that some of the demand can be attributed to the small town of Hoedspruit, where prices for freehold homes and vacant land have increased dramatically from 2020 to 2023.
“Agriculture and mining are key economic contributors in Hoedspruit, but what is really attracting buyers is the relaxed lifestyle.”
Hoedspruit is one of the fastest-growing inland towns in South Africa. It has just over 2 800 adult residents, and more than 70% of homes are in estates.
The ooba report shows that 41 freehold homes were sold in estates at an average price of R3.4 m over the past 12 months. During the same period, just five freehold houses were sold - not in estates - at an average price of R1.97 m.
Housing types in Hoedspruit vary enormously, catering for a wide range of buyers. An entry-level one-bedroom flat, for example, is available at R670 000, while a house with 18 bedrooms is on the market at R43 m.
Hoedspruit: Property and houses for sale | Private Property
Other locations
Other popular Limpopo areas include Bela Bela, where prices range from around R400 000 for a two-bedroom apartment to R72 m for a 50-bedroom game lodge and spa. There are plenty of well-appointed family homes in the R1.5 m to R3 m price range.
Bela-Bela: Property and houses for sale | Private Property
In Polokwane Central, property prices range from R695 000 for a two-bedroom home to R8.7 m for a six-bedroom mansion.
Polokwane (Pietersburg): Property and houses for sale | Private Property
Phalaborwa has several lovely three-bedroom homes on the market for under R1 m, with a five-suites guest lodge for sale at R15 m.
Phalaborwa: Property and houses for sale | Private Property
Consider Limpopo for your property investments.
Writer: Sarah-Jane Meyer