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Urbanites like Fraserburg

17 Oct 2007
The Karoo town of Fraserburg in the Hantam Karoo continues to benefit from a surge in buyers relocating from busy cities to a more relaxed and healthy lifestyle - and a more secure environment.

As a result of this trend, house prices in Fraserburg have increased by 200% to 300% in the past few years, reports Andre Muzerie, Pam Golding Properties' (PGP) area principal. "In the space of several weeks we recently saw four families make a permanent move from Cape Town to Fraserburg. The main driving force seems to be peace of mind as we have a very low crime rate, and the cost of living is also relatively low."

However, he says that value for money and growth potential - given a rapidly increasing tourism market - are the hallmarks of property in this town, located thee-and-a-half hours from George and four-and-a-half hours from Cape Town.

For example, a house that sold for R60k three years ago has just resold for R400k. Yet despite this, Muzerie says the area has not yet reached its peak, with average house prices still below R400k.

"Valuators who work through the Hantam Karoo have placed the Fraserburg area in second place behind Prince Albert in the past six months in terms of growth potential and value for money. An example of this is a house that three years ago sold for R60k, has just been sold for R400k.

"There is also talk of the largest smart array of radio telescopes in the world, SKA (Square Kilometre Array*) to be constructed in our district some time in the future, with a site already selected between Williston and Van Wyksvlei. With a massive investment of 1bn euros, this project would undoubtedly have a major positive impact on our infrastructure and growth, and I believe property prices will surge once the announcement is made official in 2008."

PGP recently sold a character home - a three-bedroom stone house with wooden floors, doors and shutters - for R880k, a record price for Fraserburg and a far cry from the scenario just three years ago when home buyers found it virtually impossible to obtain a bond for R50k.

Image: Set on a large plot, this two-bedroom home in Fraserburg is marketed at R300k.

Image: Located in Sutherland, this three-bedroom Victorian home is marketed at R880k.

For more information contact 023 741 1066 or send an email.

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