Good value homes in Brackenfell

To a greater degree, possibly than any other residential precinct in South Africa today, Brackenfell, the suburb 30km north of Cape Town off of the N1, has changed and improved its image.

Situated in Morgenster Heights, Brackenfell, this home offers four bedrooms, three bathrooms, spacious living areas, a swimming pool, lapa, jacuzzi and double garage. It is on the market for R1.949 million - click here to view.

This is according Lucas van Vuuren, the franchisee for the Rawson Property Group’s Brackenfell Arauna franchise, who says evidence of this upgrading process can be seen throughout Brackenfell’s newly decorated and more sophisticated Hypermarket, which has now been able to attract such tenants as a flagship Food Lover's Market, a Cattle Baron restaurant and a large Virgin Active gym.

Van Vuuren says evidence of the upgrade can also be seen in the greatly improved landscaping and plants on the suburb’s main boulevards and in the standard of the new developments now coming on stream, while existing homes are also being maintained in a far better condition than ever before.

Van Vuuren estimates that Brackenfell’s year-on-year price increases are now running at ± 10 percent. For example, one home which sold last year for just over R1 million was recently resold at R1.175 million.

He says high demand and popularity can, however, in a relatively short space of time, also cause serious stock shortages. This has been the case at Brackenfell, he says.

This Vredekloof Heights home offers four bedrooms, three bathrooms, open plan living spaces, a swimming pool and two garages. It is on the market for R2.795 million - click here to view.

“Previously, we could have as many as 100 or more homes on our stock lists. These days, at any given stage, we have only 40 to 45, and we have to work hard to get them.”

When a home does become available for sale, he says, it will usually sell, if correctly priced, within two or three days; and the entire sale process takes only around six to eight weeks to be concluded.

Van Vuuren says being in a sellers’ market can lead to almost ludicrously high demands from them, but it has to be admitted that relatively few sellers have achieved prices that they thought were impossible.

According to Van Vuuren, the greatest stock shortages demand is currently in the R1.1 million to R1.4 million price categories and in the R950 000 to R1.1 million brackets. Homes sold here are usually freestanding two and three bedrooms. 

Brackenfell does have some apartments available, but these are not quite as much in demand, although they are attracting exceptionally favourable rentals.

This three bedroom home in Hoogstede, Brackenfell, offers three bedrooms, two bathrooms, an open plan kitchen and double garage. It is on the market for R1.595 million - click here to view.

The good news is that demand for the more expensive homes, those priced close to R2 million, has been noticeably stronger this year, and several sales have been made at prices close to R2 million, he says. These are quite often driven by the desperation of those who would like to find less expensive homes, but cannot, and are therefore prepared to adopt austerity measures and pay higher, he says.

Van Vuuren says the general trend towards buying is considerably assisted by the fact that his franchise has, this year, been achieving ± 70 percent success rates on their buyers’ bond applications.

Despite the rising prices, Brackenfell’s popularity is still primarily due to the fact that it offers exceptionally good affordable value, he says.

Also making Brackenfell popular is its highly central position and good schools. Brackenfell High School is, in fact, the largest secondary school in the Western Cape, and Brackenfell Primary School and Bastion Primary School have particularly good reputations. Coming soon to the suburb will be a Bastion High School, a Curro Primary and a Curro Castle Nursery School.

Sales in areas adjacent to Brackenfell have also moved up several notches, he says. At Kraaifontein, it is still possible to buy a two storey family home in good condition in a price range of R600 000 to R900 000.  

Van Vuuren says he is completely optimistic that no real slowdown will be seen this year, but if and when interest rates rise, more homes will inevitably come onto the market, and they will probably sell slower.

“That stage has not yet been reached. Even if it does come about in 2015, Brackenfell property will remain as good an investment in the South African property sector as it is possible to find.”