Cape Town’s Western Seaboard, being a largely coastal residential area, traditionally tends to experience slower property sales during the cold and wet mid-winter months. But 2013 has proved to be the exception to that rule, with Pam Golding Properties (PGP) reporting unflagging demand and robust sales activity throughout the winter season – this despite the particularly inclement weather.
PGP’s area principal for the Western Seaboard, Emarie Campbell, says during the three mid-winter months of June, July and August (2013), her team of agents sold residential property to a total value of around R103 million – an increase of nearly 84 percent on the figure for the same period in 2012. “Our year-to-date sales have also been extremely positive,” she adds, “with 219 units sold to a total value of R281 million, versus a total of R165 million in 2012. There is no denying that the winter season was far busier than expected, but it’s equally positive to see that the demand has been sustained throughout the year. As a result, we are experiencing stock shortages in many suburbs, and are seeing prices beginning to climb in most areas. About 40 percent of our buyers in 2013 have been cash buyers, and around 20 percent have been investors, with the remainder being owner-occupiers.”
Areas enjoying particular demand include Big Bay’s security estates and apartment complexes, especially in the price range from R2 million to R3 million. Bloubergstrand “proper”, including West Beach, is seeing high demand for family homes priced from R2.5 million to R3.5 million, while those on a tighter budget are driving demand for more modest homes in Parklands and Sunningdale, priced from R1.5 million to R2 million. Entry level buyers have been seeking apartments in both Tableview and Parklands, in the price range from R500 000 to R800 000. Campbell notes that beachfront apartments remain perennially popular, and are currently fetching prices of around R20 000 per sqm, typically from R1.8 million to R3 million.
Among the most notable sales activity has been that at Century City, where Campbell reports the sectional title market has been doing exceptionally well. “Knightsbridge in particular has seen high sales turnover, and prices being achieved in the region of R25 000 to R30 000 per sqm, for two- and three-bedroomed apartments,” she adds. “Another area seeing a flurry of activity is Big Bay, where we have recently sold two homes in the Water’s Edge development for between R6 million and R9 million rand, and two beachfront stands of around 450sqm for over R5 million each.”
Campbell says the surge in sales is partly due to the area’s overall growth in population and amenities. “The Western Seaboard can now be regarded as a mature residential area,” she says, “with good infrastructure including private and government schools, shopping centres and medical care. It really fulfils the needs of any resident profile, from first-time buyer to retiree. New transport developments are also helping to alleviate traffic congestion issues – by next month (October 2013) we should see the opening of the new MyCiti bus link between Blouberg and Melkbosstrand, as well as the opening of the new Sandown Road link onto the N7, both of which will improve accessibility and reduce pressure on other commuter routes. The Sandown Road commercial node in particular has expanded rapidly over the past year, with highlights including the opening of the biggest Food Lovers’ Market in South Africa, a Checkers Hypermarket and a new state-of-the-art Virgin Active gym. In short, the area now offers it all, from convenient public transport access to employment opportunities, schools, hospitals and a wealth of recreational facilities, not to mention a relaxed coastal lifestyle and arguably the best views in the Western Cape.”
Entry level prices along the Western Seaboard currently start from around R450 000 for a 55sqm two-bedroomed apartment in Parklands, or R900 000 for a 90sqm three-bedroomed home in the same suburb. A mid-level home in Parklands, Tableview or Sunningdale will cost around R1.35 million. At the top end of the market, larger family homes of 250sqm or more are priced from around R3.5 million in suburbs like Sunset Beach, Bloubergstrand, Big Bay and Atlantic Beach. More luxurious properties with ocean views and upmarket features can fetch anything from R6 million to well over R15 million.
Campbell’s team of 60 staff, including 45 sales agents, services the entire Western Seaboard from Maitland, Milnerton and Century City to Tableview, Parklands, Big Bay and all the way up the West Coast to Atlantic Beach Golf Estate and Melkbosstrand. PGP has five offices operating in this area, in Bloubergrant, Sunset Beach, Parklands and Big Bay.
For more information on property for sale on the Western Seaboard, contact PGP’s area principal Emarie Campbell on 021 557 1115, 083 601 0822 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.