The suburb of Newlands in Cape Town’s Southern Suburbs continues to attract broad demand from a variety of buyers. The area’s central location with easy access to the city, airport, beaches and amenities, as well as its proximity to the Claremont business and shopping hub, are among its key appealing features. Another strong driver of demand is the educational environment, with the suburb being well-placed for access to several leading schools as well as the University of Cape Town. The beautiful natural environment, including large trees, Kirstenbosch Botanical Gardens and Newlands Forest, rounds off the picture of an ideal environment for a growing family, student or executive.
Pam Golding Properties (PGP) reports that nearly 100 residential sales have already been registered in the suburb in 2013, at an average price of around R4 million for (source = Propstats; full title and sectional titles sales across all agencies). PGP concluded 17 of these deals, to a total value of well over R70 million, and at an average price of R5.1 million. PGP’s sales included several top-end properties, two of which sold for R9 million or more.
Agents Heather Turner and Vickie Francis say demand emanates from a number of sectors, including those seeking spacious homes and gardens for family use, as well as parents and investors buying residential properties to let. “Townhouses have also proved popular,” say the agents, “as well as vacant land and older homes that can be extensively renovated and modernised. The most popular price range at present is homes priced between R3.5 million and R4.5 million, and homes in this bracket are moving fast – for example, in May (2013) we sold a three-bedroomed home in King Street at the full asking price of R4.5 million, on the very first day of listing, while another property in Moss Street was sold within three days of listing, at 94 percent of the asking price (sold for R3.9 million). As a result of the high number of sales and strong demand, we are currently experiencing a general shortage of stock in the Newlands area. There are definitely more buyers than sellers in this area at present, with lots of enquiries coming in through the PGP website (www.pamgolding.co.za).”
Entry level pricing in Newlands currently stands at around R2.5 million for a small lock-up-and-go home, while a mid-level family home costs around R4.5 million. Top end luxury properties, particularly those located in small secure estates, can fetch R8 million and more.
For more information on properties for sale in Newlands, call PGP agents Heather Turner (082 445 0041) and Vickie Francis (072 615 0332), or contact the Newlands office on 021 685 7759 or firstname.lastname@example.org.
**All prices quoted are actual selling prices, and all sales mentioned were concluded by Pam Golding Properties, unless otherwise specified.