Still excellent value for money on offer, says PGP
The Cape West Coast has seen an active winter season for residential property sales – most unusually, given the typical seasonality of this market. Pam Golding Properties (PGP) reports that the particularly cold weather experienced in July and August (2013) 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.
PGP’s area manager for the West Coast, Stephanie Wynne Cole, says most surprisingly, the month of June (2013) showed the best results of the year to date, an almost unheard-of occurrence. “Our agents sold property worth nearly R15 million in this month,” she says, “which is more than double the R6 million sold in June 2012. It has been a very busy few months, and our 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 of Cape Town, Stellenbosch and Paarl, as well as local purchasers moving within Langebaan, and a small number from elsewhere in Africa. Demand is concentrated in several price ranges, including vacant plots 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 (2013) PGP has also sold two luxury properties priced at over R5 million each.
“Most buyers are still extremely value-conscious,” she continues, “and are being very selective about their purchases; they are prepared to wait for the right home at the right price. But it is encouraging to see the overall upturn in the market, as well as specifically the renewed interest in the purchase of vacant plots – 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 busy 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,” says Wynne Cole, “particularly the Langebaan Golfing Security Estate, where a number of quality homes are being built by reputable companies. Yzerfontein with its magnificent 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 excellent restaurants and truly unique fishing village ambience.”
New shops and small commercial clusters are opening throughout the West Coast region, and PGP itself has relocated into brand new premises in Velddrif. “The area is certainly enjoying a surge of popularity and a sense of momentum,” Wynne Cole concludes, “which will surely only accelerate once the Industrial Development Zone at Saldanha starts taking shape. 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.”
For more information on properties for sale on the Cape West Coast, contact PGP’s area manager Stephanie Wynne Cole on 022 772 2196, 082 570 6540 or firstname.lastname@example.org. The new PGP office can be found at 2 Piet Orlam Street, Velddrif, and can be reached at 022 783 1511 or email@example.com.
**All prices quoted are actual selling prices, and all sales mentioned were concluded by Pam Golding Properties, unless otherwise specified.