Security, family lifestyle drive high property turnover, says PGP
Welgevonden Estate on the northern edge of Stellenbosch is enjoying sustained demand from buyers seeking a secure, family-friendly lifestyle. Located at the foot of the Simonsberg Mountains, the estate is one of the largest residential developments in the country, occupying nearly 95 acres and incorporating just over 950 erven. Pam Golding Properties (PGP) reports that residential property sales on the estate have been among the most active of all areas of Stellenbosch over the past few years – and the trend is continuing into 2013.
Established in 1998, the estate is now fast approaching maturity, with only 25 properties still vacant. The remainder have been attractively developed with a mix of freehold homes, ranging from compact two-bedroomed houses to larger family homes with four bedrooms and double garages. Plot sizes range from 144sqm to around 250sqm, although a few properties occupy erven of over 300sqm. Pricing for completed homes spans from R1.2 million for smaller starter homes to just under R3 million at the top end of the market. The few remaining vacant erven are typically around 180sqm in size and priced from R540 000 to R990 000.
Lightstone statistics indicate that Welgevonden Estate has enjoyed some of the highest turnover in Stellenbosch, both on unit sales and rand value, over the past few years. Forty-six property transfers were registered between January and May 2013 alone (These figures include sales by all agencies.) PGP agents Dirk Carstens and Sheldon Rogers say there has been particularly high demand from first-time buyers attracted by the affordable pricing, especially for the smaller homes priced in the vicinity of R1.2 million. “Other buyer categories include families wanting a safe environment in which to raise their children – especially those relocating from upcountry provinces specifically due to security concerns,” say the agents. “We also see a number of sales to existing Welgevonden residents who are up-scaling as their circumstances improve and their families expand, or down-scaling after their children have left home. This movement within the estate is a sure indicator of the appealing lifestyle on offer – residents simply never want to leave.”
Investment buyers also show a strong appetite for homes in Welgevonden Estate, given the sustained demand for property sales as well as rental opportunities. Affordable pricing and above-average price growth add to the appeal – the estate achieved house price growth of around 16 percent from 2011 to 2012, while the average price for the past six years (2007 to 2012) was a healthy 10 percent. (Source = Lightstone)
Security remains one of the estate’s key selling points, with a state-of-the-art system including two biometric access-controlled entrance points, electric perimeter fencing and round-the-clock security guard patrols. This network enables residents to enjoy a relaxed, community-focused lifestyle, making the most of extensive green areas and parks with picnic tables, pedestrian byways and even a dam for fishing and rowing. Panoramic views of mountains and vineyards provide an ideal backdrop for jogging and walking, and for communal events such as Carols by Candlelight.
Another huge draw-card for residents is the presence of an on-site shopping centre, opened in 2010. Stone Square offers convenient shopping and entertainment facilities, including a Spar, Curves gym, coffee shop and takeaway outlets, as well as a laundromat, auto clinic, music school and other small businesses. PGP’s area manager for Stellenbosch, Louise Varga, says the result is that residents hardly need to leave the estate. “They can eat, shop, exercise and even have their car repaired, all within a few hundred metres of their home. There are wholesome outdoor activities on their doorstep for the entire family to enjoy together. Furthermore, central Stellenbosch with its network of superb schools, medical facilities and work opportunities is just down the road, while some of the country’s finest restaurants and wine farms are only a few minutes’ drive away.”
For more information on Welgevonden Estate, please call PGP agents Dirk Carstens (072 446 0990) and Sheldon Rodgers (071 224 5642) or contact their office on 021 889 7507 or email@example.com