First-time buyers love Soshanguve

Soshanguve South, north of Pretoria, where a new three-bedroomed house is priced at around the R500,000 mark, has the highest number of first-time homebuyers in Gauteng.

In second place is Protea Glen, a traditionally middle-class suburb west of Soweto, with asking prices of around R600,000 for a three-bedroomed property.

This is according to Lightstone Property, which released an overview of the current trends in the market on Wednesday.

"When comparing the average age of buyers in the top 10 suburbs offering the highest number of first-time buyers, it is encouraging to see that Soshanguve South, which has about 30 schools in a 5km radius, and Protea Glen have the most growth," the company noted.

"The ages of buyers in Gauteng are between 18 and 55, which shows us that the younger working class is investing in property," it added.

The Lightstone data also shed light on the most expensive suburbs in Gauteng.

The No1 spot belongs to Blair Atholl, in Pretoria, which has an average house value of R11.2-million, followed by Westcliff (R10.5- million) and Dunkeld (R9.3-million).

The Sandton suburbs of Wierda Valley, Sandhurst and Inanda are next, in the R7-million to R9-million bracket.

The green belt of Blair Atholl, near Lanseria and Fourways, was developed and extended from a farm once owned by Gary Player.

It has a river running through it, horse trails and a top-ranked golf course and is close to a number of private schools.

Coronation Street in Sandhurst is highlighted as the most expensive street with properties at an average value of R26.8-million.

Next are 4th Road in Hyde Park (R16.9-million), 1st Road in Dunkeld West (R16.6-million), Woolston Road in Westcliff, 9th Street in Houghton Estate and The Stables Close in Blair Atholl round up the millionaires' choice of property.

Cape Town, meanwhile, shows its biggest growth in property buyers in the 55 to 65 age bracket, as well as 65 and older, indicating that an older generation is looking to establish itself there "for retirement", Lightstone's overview said.