Buoyant Bloemfontein market marks second successive year of increased property transfers
According to Lightstone, property transfers in the Bloemfontein market remain on the rise. Lightstone Property head of digital Hayley Ivins-Downes says transfers were 6% up to 4,326 in 2021 from 4,084 in 2020, which itself was just over 6% up on 3,869 in 2019.
Source: Grobler du Preez © 123RF.com
Although transfers registered in 2019 were marginally down from 2018, the trend over five years is positive.
“Transfers among the under-30 age band were the highest ever in 2021 (1,365), as was the case with the 36-49 age band (1,311) and the 50-64 age band (597). However, while the 246 transfers recorded by the 65+ age band was up on the 188 recorded in 2020, it was down on the five-year high of 264 in 2019,” Ivins-Downes says.
Sectional title remains increasingly the property of choice for Bloemfontein purchasers, with 57% opting for sectional title homes in 2021, up from 55% in 2020 and 52% in 2019. Freehold is next with 38 in 2021, and estates at 5%.
Arrivals and departures
Most people (74%) moving to Bloemfontein in 2021 came from elsewhere in the province, with 7% arriving from Gauteng and 5% from the Western Cape. The picture is slightly different for those leaving Bloemfontein – 62% moved to another destination in the Free State, while 15% went to the Western Cape and 9% to Gauteng.
