For homes in the

southern suburbs

and Claremont now on a par with mid-level price bands in many comparative neighbourhoods in other metros.

“Houses in the R1.5 million to R2.5m bracket and apartments for less than R1.5m have become rare commodities and when they do come on to the market they are often snapped up within hours.”

Megan Milne, candidate agent for Lew Geffen Sotheby’s International Realty in Rondebosch, says there are occasionally still flats to be found in the R1m to R1.5m price band but they are usually in older blocks and barely hit the market before being snapped up, sometimes even the same day.

“This is especially true if they fall within the university catchment areas and near the Jammie shuttle route as there is a serious shortage of student accommodation.

“Parents who live in Durban or Johannesburg are aware of the