To many Capetonians, Milnerton is just one more suburb to pass through on the way to a West Coast holiday destination, or a conveniently close strip of beach to walk the dogs after a long day. The suburb has flown somewhat under the radar for many years, but according to neighbourhood experts, that may be about to change.
“Demand for property in Milnerton has been steadily increasing,” says Marc Vladislavich, the Rawson Property Group’s Milnerton franchisee. “It’s now reached the point where we have significantly more buyers than sellers, and anything under R3 million sells in the blink of an eye. We’re seeing a lot of interest in the local security estates in particular,” he adds, “and the rental market is also extremely buoyant with demand far outstripping supply.”
When asked about the reasons behind the increasing popularity of the area, the first thing Vladislavich mentions is the convenience and wealth of amenities in the suburb. “Milnerton is close to the CBD, has good local schools, and great shopping and entertainment at Canal Walk and Ratanga Junction,” he describes, “and with the new MyCiti Bus Rapid Transit system in place, the traffic that put a lot of people off the area in the past is not so much of a factor anymore.”
Of course, you can’t discount outdoor attractions when it comes to Milnerton’s increasing popularity, either. “The lifestyle is definitely a desirable one,” Vladislavich agrees. “We have a palm-tree-lined lagoon that is perfect for paddling; a nice big beach where your kids can build sandcastles and fly their kites; a golf-course where you can listen to waves breaking just meters away while you play; two nature reserves, popular with bird-watchers; and even some whale-watching in spring!”
As for its properties, Milnerton offers a wide variety at remarkably affordable prices. “Sectional title units tend to cost between R600 000 to R1.6 million,” says Vladislavich, “with freehold properties averaging at around R2.5 million and security estates selling from R1.2 to R3 million. Even with the growth we’ve been seeing lately, there is still excellent value for money to be had in the area.”
According to Vladislavich, the variety of properties at various price points means there’s something to suit nearly everyone in Milnerton. “There are singles in apartments, young couples in smaller homes, established families in security estates or larger houses, and older folk who are scaling down,” he says. “Milnerton residents often stay here their whole lives, growing up in the neighbourhood, getting their first apartments nearby, and then raising their own families and retiring here as well.”
It’s not only permanent residents being drawn to the area these days, however, and Vladislavich has noticed a definite increase in holiday purchases by foreigners as well as investment buyers adding to their rental pool. “Milnerton is a very smart choice for investment at the moment,” he admits, “so it’s not surprising that we’re seeing a lot of interest here. Properties are experiencing good capital growth with prices increasing at between 7 and 10% annually, and there’s a very active rental market with plenty of tenants which makes buy-to-let purchases a good option.”
For those hoping to get a foot into the Milnerton property market, Vladislavich recommends keeping a sharp eye on listings to avoid being beaten to the punch. As for prospective sellers, now is a great time to put your property on the market, with high demand seeing quick sales for fair prices.
Whichever side of the market you may be on – buyer, seller or tenant – there is no doubt that Milnerton is becoming increasingly sought-after and it seems the suburb’s days of being overlooked are over, and there is some serious growth on the cards in the near future.