Property prices are dropping in these Cape Town suburbs
· The South African
Cape Town has benefited from a decade-long property boom.
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Ten years ago, the average sale price was R1.48 million. Today, it’s R2.3 million.
Cape Town sellers have been cashing in.
But in a handful of the city’s suburbs, property prices are dropping.
Property Prices Drop
Many believe Cape Town is in a property bubble.
Yet, in most of the city’s 190 suburbs, property prices are rising.
These areas are the exception.
City Centre
In Gardens, the average sale price at the end of 2025 was R2.95 million; today it’s R2.84 million.
Sectional titles are driving prices down.
Of the 173 sectional titles sold this year, the average sale price is R2.39 million.
Last year, the average sale price was R2.68 million.
2018 was the best time for sectional title sellers in Gardens. That year, the average sale price for a sectional title was R2.9 million.
Suburb2018 Average2026 Average (September)Drop (%)GardensR3.40 millionR2.84 million-16.4%WoodstockR1.85 millionR1.55 million-16.2%V&A WaterfrontR13.8 millionR10.8 million-21.5%Southern Suburbs
For several years, property prices in the leafy Southern Suburbs had plateaued. But in the last two years, that has ended as renewed interest in the region’s amenities and family-friendly vibe has bolstered prices.
Two areas are the exception.
Mowbray
Mowbray’s property prices fluctuate. For a few years, prices rise, then they’ll drop, and the cycle repeats.
But when you zoom out, prices are down from their 2020 peak.
In 2020, the average sale price was R2.6 million.
As of September 2026, it’s R1.65 million; a 36.5% drop.
Wynberg
Wynberg property prices peaked in 2025 and reached an average of R1 million. Today, they’re down 10.5%.
Northern Suburbs
The Northern Suburbs have been the quiet winner in Cape Town’s property boom.
Take Parow, for example: in 2018, the average sale price was R1.16 million; as of September 2026, it’s R2 million.
Prices for sold erven and sold sectional prices are up.
But one lonely northern suburb area isn’t seeing the fruit of the boom.
Ruyterwacht
In 2019, the average sale price for Ruyterwacht was a sensible R1.11 million. By the end of 2025, the price had dropped slightly to R940 000.
Today, it’s R769 000.
Blouberg
If Cape Town’s suburbs are sought-after, the Blouberg precinct’s suburbs are coveted.
Buyers are young and well-heeled. They’re also driving up prices.
Sectional titles are breaking records, as are free-standing homes.
But, sadly, one area isn’t cashing in.
Parklands North
Prices are down 24.5% since 2018. Sectional titles are driving down the area’s average.
While sold erven surpassed R3 million for the first time in the suburb’s history. Sectional titles have taken a 32.9% knock from their R1.7 million 2019 peak.
Hout Bay
The average sale price in Hout Bay, as of September 2026, is R5.9 million.
That’s up from last year’s R4.45 million.
But property prices aren’t climbing in Harbour Heights and Tarragona.
Harbour Heights
In Harbour Heights, property prices are up since 2024, when they averaged R1 million.
Zoom out, and it’s down from the 2023 peak of R2.35 million.
Tarragona
Tarragona’s property market has less to do with market sentiment and more to do with the number of properties sold and the type of property.
Last year, the average selling price was R15 million. Only one property was sold.
The average price between this year’s two sales is R6.3 million.
Suburb2018 Average2026 Average (September)Difference (%)MowbrayR1.67 millionR1.64 million-2.08%Wynberg*R850 000R895 000+5.4%RuyterwachtR900 000R769 850-14.4%Parklands NorthR1.69 millionR1.27 million-24.5%Harbour HeightsR1.62 millionR1.6 million-1.5%TarragonaR9.6 millionR6.32 million-34.1%*Property prices are down from Wynberg’s peaks between 2023 and 2025.
The year isn’t over. There’s still time for each of these suburbs to stage a comeback.