Bill Rawson, Chairman of the Rawson Property Group, recently told a group of Cape franchisees that one of the trends which has most gratified him has been the way in which the Rawson Property Group, without abandoning the lower middle and lower bracket markets, has established a far stronger presence in the upper middle and upper brackets.
One Rawson Property Group franchise that would agree with this is Milnerton. Mark Vladislavich, who, with his wife Esme, is the co-franchisee for this area, said that in the last three months one agent alone, Dave Zieve, has sold eight homes in “Milnerton Proper”, i.e. the older part of Milnerton, which is characterised by large, well-established homes with big gardens. These homes, said Vladislavich, were all priced above R2,6 million – and it looks very much as if Zieve will maintain the sales rate that he has been achieving.
“I am totally genuine and accurate when I tell people, as I always do, that by any standards the older parts of Milnerton offer incomparable value,” said Zieve recently. “People are now becoming aware of this, the desire very often being to live close to the CBD, the V&A Waterfront, the beach and the Milnerton golf courses.”
A solid, exceptionally well built, free standing home in Old Milnerton, said Zieve, can be bought for roughly the same price as a moderate sized, two bedroom apartment in one of the better Sea Point precincts today (where until 15 months ago he was selling property).
“I look back on my career move to Milnerton,” said Zieve, “as one of the best changes I ever made. When you have lived here for a month or two, you discover that this community is genuinely warm-hearted and always welcoming. They have an active social and sporting life and they assimilate strangers easily. What is more, people living here never want to leave.”
So – what upper middle and upper bracket homes can Zieve and his colleagues offer to the public right now?
They have, said Zieve, nine houses in the price range of R1,9 million to R5 million. Those that he believes currently offer the very best value are all in the R3 million to R4 million bracket and will, he predicts, increase in value by at least 8% in the year ahead, for the simple reason that demand here far outstrips the supply.
The three homes referred to by Zieve are:
A home priced at R3,3 million with 173 m2 of floor area. The home is L-shaped and is in a ranch style with traditional small pane Cape windows bordered by Alphen green shutters. This home currently also has a subtle, very attractive pale yellow façade. It also has three garages (one used as a workshop), four large bedrooms, the main being en suite and another having a study, also en suite. Then, too, there is a kitchen with granite tops, an oven and a hob, a large dining room with a fireplace and a wine cellar. In the roof there is 50 m2 of attic storage space. The garden also has a swimming pool.
The second on the list is a R3,8 million, 187 m2 three bedroom home in Ascot Road (one of Milnerton’s better addresses). This has a large living room with a fireplace, granite tops in the kitchen and a pool in the garden (accessed through big aluminium framed glass sliding doors) and on the upper floor there is a study/TV room with mountain views. A separate flat provides independent or extended family living.
The third home mentioned by Vladislavich is priced at R3,850,000 (including VAT). This, said Zieve, is undoubtedly one of Milnerton’s most prestigious and impressive homes. It is within five minutes’ walk of the beach – and offers its occupants beautiful views of Table Mountain. The building is double storey with an ochre façade. It has four bedrooms, all en suite, large entertainment areas, wraparound balconies on two levels and spacious domestic quarters. In the garden there is a very attractive pool and a koi pond with water fountain. The plot on which the house is situated measures just under 1,000 m2.
“In Fresnaye or other upmarket Atlantic Seaboard suburbs,” said Zieve, “this home would be priced between R15 million and R20 million and that is by no means an exaggeration. It is indeed lavishly fitted out with features such as state of the art security, underfloor heating, a water tank for irrigation (which is computerised) and a built-in vault. The views of Table Mountain, Lions Head and Signal Hill are also superb.”
“These examples of what “Milnerton Proper” can provide,” said Zieve, “should whet the appetite of those looking to buy close to Cape Town in a market that is, at last, genuinely appreciating fast. Old Milnerton definitely fits the bill here and this is not sales hype. I am certain that those who delay buying this year will find that in 2014 that they are having to pay significantly higher for the same or similar homes in Milnerton.”