Strand home sales drop as fewer properties hit the market
Despite a 22% decline in Strand's property sales, prices remain resilient.
The residential property market in Strand experienced a drop in sales by 22% during the first half of 2026, due to a shortage of homes available on the market. Despite the decline in transaction volumes, the market still generated over half a billion rand in residential property sales, with prices remaining relatively stable. A total of 301 homes worth R526.8 million were sold between January and June, with 148 own-title properties and 146 sectional-title properties.
Property sales in Strand North and Central were the most active, with 82 sales at an average price of approximately R1.98 million. The Greenways estate also saw strong demand, with seven own-title properties selling at an average price of R6.55 million. While some areas experienced declines in average prices, overall demand for residential lifestyle and investment properties in Strand is expected to remain strong in the second half of the year, supported by infrastructure improvements such as the Strand Seawall Promenade and sewerage upgrades.
However, without a reduction in interest rates and an improvement in broader economic conditions, Strand could end 2026 with around 600 residential sales worth R1.05 billion, falling short of recent record performances.
Written by urgent.news from IOL's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
