The Cape West Coast has seen an active winter season for residential property sales, which is most unusual, given the typical seasonality of this market.
This Yzerfontein home offers three bedrooms, two bathrooms, an open plan living room with built-in braai and garage. It is priced at R1.895 million - click here to view.
Pam Golding Properties’ (PGP) area manager for the West Coast, Stephanie Wynne Cole, says the cold weather experienced in July and August did not keep buyers away, with continued enquiries and offers in most areas, from Yzerfontein all the way north through the West Coast National Park to Langebaan and Saldanha Bay, and further north to Britannia Bay, Shelley Point and Velddrif/Port Owen.
She says most surprisingly, the month of June showed the best results of the year to date, an almost unheard of occurrence. She says their agents sold property worth nearly R15 million in this month, which is more than double the R6 million sold in June 2012.
“It has been a busy few months, and sales to date (January to August 2013) have totalled 57 properties amounting to more than R68 million in value – a substantial increase on the 35 sales concluded in the same period during 2012.”
Wynne Cole says demand is coming primarily from cash buyers seeking second homes for holiday use, as well as families wishing to relocate to the area on a permanent basis. The buyer profile comprises mainly residents from Cape Town, Stellenbosch and Paarl, as well as local buyers moving within Langebaan, and a small number from elsewhere in Africa.
This Langebaan home has three bedrooms, four bathrooms, an outdoor entertainment area, swimming pool and garaging for four cars. It is on the market for R3.499 million - click here to view.
Demand is concentrated in several price ranges, including vacant stands from R200 000 to R400 000, townhouses and modest homes from R700 000 to R1.5 million, and larger family homes priced from R2 million to R4 million. This year, PGP also sold two luxury properties priced at over R5 million each.
Wynne Cole says most buyers are still value-conscious, and are being selective about their buying - they are prepared to wait for the right home at the right price. But, she says it is encouraging to see the overall upturn in the market, as well as the renewed interest in the buying of vacant stands – a sector that has been fairly quiet for the past few years.
“This is indicative of the number of families moving into the area, who wish to build their own brand new homes large enough to accommodate their lifestyle needs. On the other hand, many holiday homes are currently on the market at below replacement cost, so it makes good sense to buy instead of build, if you are looking within this market segment.”
The West Coast is now fully established as a residential area and offers everything from a major shopping mall to several private schools, most of which are expanding their capacity in order to meet the growing demand from permanent residents. It’s also encouraging to see some of the newer residential estates starting to mature, particularly the Langebaan Golfing Security Estate, where a number of quality homes are being built by reputable companies, says Wynne Cole.
This vacant stand in Saldanha is within walking distance of stores and restaurants. It is on the market for R275 000 - click here to view.
She says Yzerfontein, with its Blue Flag beach is another area enjoying high demand, especially from holiday and weekend buyers, while the quaint town of Paternoster is also increasingly popular for its range of restaurants and unique fishing village ambience.
New shops and small commercial clusters are opening throughout the West Coast region, and PGP has relocated into new premises in Velddrif. The area is enjoying a surge of popularity and a sense of momentum, which will surely only accelerate once the Industrial Development Zone at Saldanha starts taking shape, says Wynne Cole.
Not only does it offer a relaxed beachfront lifestyle and immense natural beauty, but it still has some of the best value for money on offer for coastal property anywhere in the Cape, she says.
Print
