SA home sales fall, Gauteng gains market share

South Africa’s residential property sector experienced a year-on-year drop in transaction volumes during the second quarter of 2026, weakened by elevated interest rates and ongoing global economic uncertainty.

According to national deeds office data published in the Remax National Housing Report Q2 2026, sales declined across almost every province.

However, regional data indicates a notable shift, with Gauteng emerging as a key growth driver and showing early signs of a market revival.

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Despite the broader contraction across the overall market, which contracted by approximately 8% year on year, the Remax Southern Africa network reported a 6.4% growth in activity over the same period, with reported sales up 5.06% and registered sales increasing 6.03% compared to Q2 2025.

National price trends

While overall national transaction volumes fell, the total financial value of residential property sales in South Africa grew by roughly 3.91% year on year.

Within the Remax network, the average active listing price climbed to R3 313 646 in Q2 2026, marking a 12% increase from the first quarter.

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Explaining how constrained stock levels can push up listing prices even during periods of lower transactional activity, Adrian Goslett, CEO and regional director of Remax Southern Africa, stated:

“Lower transaction volumes do not necessarily mean that demand for property has disappeared. There are simply fewer properties changing hands, which can translate into limited stock in certain areas – and in areas where there is not enough stock to meet demand, prices can increase sharply.”

Gauteng leads transaction share

The Western Cape, Gauteng, and KwaZulu-Natal continue to dominate South Africa’s residential property landscape, collectively accounting for roughly 85% of total national market activity.

While the Western Cape generated the highest total market value, Gauteng strengthened its market share in terms of raw sales volume.

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Data from Remax SA shows that Gauteng accounted for roughly 48% of all network transactions during the second quarter, up from 38% in 2024.

Search metrics on remax.co.za reflected this trend, with Gauteng accounting for four of the top five most searched suburbs nationwide.

Top searched suburbs, Q2 2026:

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Fourways (Gauteng)
Bryanston (Gauteng)
Musgrave (KwaZulu-Natal)
Morningside (Gauteng)
Faerie Glen (Gauteng)

Highlighting the province’s trajectory, Goslett noted: “Gauteng remains a market worth watching. The province continues to account for a significant share of property transactions, and the level of buyer search activity we are seeing suggests that there is still strong interest in the market.

“These could be early signs of renewed momentum in Gauteng’s residential property sector.”

Pressures and market outlook

The Q2 performance highlights persistent pressure on consumers and property buyers from high borrowing costs and macroeconomic volatility.

Addressing the impact of broader market headwinds on property transactions, Goslett said: “The property market has not been immune to these pressures. In conditions like these, experienced real estate professionals play an important role in helping buyers and sellers understand the risks, identify opportunities and navigate the realities of their local market.”

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