09 Jan 2013
Property in Milnerton is almost equally divided between sectional title units and freestanding homes.
As an established family suburb, with around 36 percent of its current homeowners aged between 50 and 64 years old, it is not surprising to see that 41 percent of Milnerton’s residents have lived in their homes for 11 years or more.
The majority of recent buyers have been aged between 36 and 49 years of age, while around 34 percent of recent sellers have been pensioners of 65 years old or more.
During 2012 the average house price in Milnerton was set around R1.95 million, while sectional title property was priced at an average of just over R722 000.
Goslett says the strongest demand for property is for sectional title homes that are priced between R400 000 and R800 000, as is evidenced by the fact that 68 percent of all sectional title transactions between December 2011 and November 2012 have fallen into that price bracket.
The strongest demand for freehold homes fell into the R1.5million to R3 million price categories, in which 67 percent of all freehold sales took place between December 2011 and November 2012.
Overall, 41 percent of all property sales between December 2011 and November 2012 fell into the R400 000 to R800 000 price bracket, while 30 percent of sales occurred in the
R1.5 million to R3 million category and 24 percent fell within the R800 000 to R1.5 million price bracket.
Named after South African High Commissioner Lord Alfred Milner, the suburb of Milnerton was founded in 1897 and is one of the oldest suburbs in the northern Table Bay area.
Since the railway lines were installed in the early 20th century, the suburb has developed quickly into a popular and sought-after residential neighbourhood with a range of properties for a variety of buyers.
Situated just north of the Cape Town CBD, Milnerton offers its residents amazing views of Table Mountain across the ocean, as well as a beach and lagoon which are popular among watersports enthusiasts. It also offers a golf course among other amenities - from shops and schools to medical facilities and more.
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