Buying Property in Ct's Table View

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08 Aug 2013

Just 15 minutes along the Cape Western Seaboard, north of Cape Town’s city centre is the suburb of Table View.

This seven bedroom, four bathroom house has three dining rooms and two full kitchens. The property has a built in bar, a double garage and a large garden. It is on the market for R1.899 million - click here to view.

Named after its view of the Table Mountain, the suburb is popular among young families and is a lively growing community with several extensions such as Sunningdale, Big Bay, Parklands, West Beach and Flamingo Vlei.

Table View’s beachfront is lined with a number of apartment buildings, along with numerous restaurants, pubs and entertainment venues. Aside from the views of Table Mountain and schools and amenities, buyers are also attracted to the area because of the various outdoor activities on offer.

The beach is popular for those who enjoy surfing, swimming and the world-class windsurfing and kite-surfing conditions, the Rietvlei lagoon is used for water skiing or sailing and the local racing circuit at Killarney is featured on the national racing map.

There is a large spread of properties ranging from affordable, entry-level apartments to townhouses and cluster developments to upmarket homes. Aside from the residential development, there is also a large business and commercial hub providing infrastructure.

It is one of the areas where the first phase of the new Rapid Bus Transport System was implemented. The Rapid Bus lanes are a first in South Africa and provide an affordable and convenient way of travelling through the area.

This three bedroom, two bathroom home has open plan living spaces with a modern kitchen. The property has flatlet, a double garage, garden and swimming pool and it is on the market for R1.79 million - click here to view.

Adrian Goslett, CEO of RE/MAX of Southern Africa says while the number of sales dropped from 2004 to 2009, the amount of sales concluded is higher than those seen in other suburbs across the country.

According to Lightstone, property consists of 53.80 percent sectional title units, 39.67 percent freehold  homes and 6.53 percent estates. Goslett says that from 2004 to 2008 prices saw a rapid increase with the average price of a freehold  home hitting a record of R1.354 million and a sectional title unit costing around R808 000. Prices dropped in 2009, however they have seen a slow but steady increase since. Currently the average price of a freehold home is around R1.222 million, while a sectional title unit is in the region of R840 000.

Goslett says that while there have been buyers from all different age groups contributing to recent buying activity, buyers between 36 and 49 years old have been the driving force. This demographic accounted for 40.04 percent of recent buyers, as well as 36.62 percent of recent sellers and 35.32 percent of current homeowners. He notes that consumers between 50 and 64 years old represented 29.15 percent of recent buyers, while those between 18 and 35 years old accounted for 22.88 percent.

Goslett says that approximately 35.4 percent homes sold between July 2012 and June 2013 were priced between R800 000 and R1.5 million. Properties that fell within the R400 000 to R800 000 category represented 30.6 percent of the area’s sales, while properties between R1.5 million and R3 million represented 18.1 percent.

 He notes that properties sold during this period for less than R400 000 represented 14.7 percent of the market, while those priced above R3 million accounted for only 1.2 percent of the market.

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