Many people in the major cities in South Africa have a yearning for a quieter, more rural lifestyle, one in which the influences of modern city life are less apparent.
This is according to Tertius Joubert, the Rawson Property Group’s franchisee for Wellington, who says this yearning tends to grow in strength when couples are bringing up children.
In the Cape, people inclined to feel this way tend to look first to Stellenbosch, Paarl, Somerset West and Wellington for alternative homes. All of these have good schools and are attractive to those looking to relocate, but it soon becomes obvious to them that the prices of Wellington homes are significantly lower than those of the other three towns mentioned.
“The Winelands’ open air rural lifestyle which certain people are seeking is much the same in all these towns, but the price difference is substantial.” In general, homes in Wellington will be 30% to 40% less expensive, he says.
Joubert says it is this indisputable fact, which has led to a sharp rise of home sales in Wellington over the last two years, especially in the lower price brackets of R800 000 to R1.6 million.
“We are still seeing limited interest in the higher price bracket - that is those homes priced from R2 million to R6 million, even though Wellington has a fair share of such homes.”
Below R1.6 million, however, Joubert says stock shortages are now making themselves felt, as are price rises which are now in the region of 10% to 12% per annum.
He says any correctly priced home in the more affordable brackets mentioned will probably be sold in four to six weeks.
Currently, Wellington’s sectional title apartments in particular are offering good value. He says 70% of these are rented out to the 3 000 students attending the teacher training, the information technology and the agricultural sciences colleges.
The majority of these students are to be found in such upmarket developments as the Piano Factory and River Sands. In general, such units will sell for R400 000 to R600 000.
Joubert says also offering exceptionally good value in Wellington are the new housing developments, for example Bains Vallei. It will have 32 freestanding homes, a few of which will be double storey, and all homes will conform to the Cape Vernacular style with attractive white plaster and grey, pitched roofs. They are sold at plot and plan prices of R890 000 to R1.4 million.
The other new developments are Bergendal and the Ranzadale. Here prices are, again, low in comparison to those of sectional title projects nearer to Cape Town.
Those looking for buy-to-let opportunities in the Boland town should see what Wellington can provide. The sectional title units in this area rent from R8 000 upwards, and freestanding homes from R8 000 to R10 000, with a few prices here and there far higher.
Looking ahead, Joubert says there is always a danger of stock shortages in the high demand price brackets, causing estate agents to overvalue in order to get mandates. However, as yet, that has not been a serious problem in Wellington.
