Referring to national deeds office information, South Africa’s residential property market recorded a year-on-year decline in transactions during the second quarter of 2026, with units sold declining across almost every province.
Interest rates and continued uncertainty in the global economic landscape have all contributed to softer transaction activity. Despite these broader market conditions, the REMAX network continued to record growth, with reported sales increasing by 5.06% and registered sales by 6.03% compared to Q2 2025.
At the same time, the value of residential property sales nationally increased by approximately 3.91% year-on-year. Within the REMAX network, the average active listing price reached R3,313,646 during the quarter, up 12% from Q1 2026.
“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,” explains Adrian Goslett, CEO and Regional Director of REMAX Southern Africa.
The Western Cape, Gauteng and KwaZulu-Natal remain the major drivers of the residential property market, collectively accounting for approximately 85% of the national market. While the Western Cape dominated in terms of market value, Gauteng continues to show signs of a revival.
According to statistics from the REMAX SA network, Gauteng accounted for approximately 48% of the number of transactions recorded during the quarter, up significantly from the 38% share recorded in 2024. This strong presence was also evident in search activity on remax.co.za, where four of the five most searched suburbs during the quarter were in Gauteng.
Top Searched Suburbs
1. Fourways, Gauteng
2. Bryanston, Gauteng
3. Musgrave, KwaZulu Natal
4. Morningside, Gauteng
5. Faerie Glen, Gauteng
“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,” says Goslett.
REMAX Southern Africa also continued to perform strongly against the broader market during the quarter. While overall market activity declined by approximately 8% year-on-year, REMAX recorded a 6.4% increase over the same period.
Despite the REMAX network's performance, Goslett notes that the broader results reflect a challenging quarter for the residential property market, with ongoing geopolitical tensions continuing to weigh on economic growth both locally and globally.
“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,” he concludes.
