The scenic view of the Back Table and Devil’s Peak from the balcony of a Rosebank home priced at R3,9 million, on the market through Knight Frank Residential SA.
Having lived in Rosebank for over 35 years, resident agent Angela Magner of Knight Frank Residential SA, says that most residents there “have their feet firmly in the clay” and are not likely to move out soon after they move in. The majority of residents tend to stay for much longer than the usual cycle of seven to ten years and in some cases, remain in the area their whole lives.
This area, set at the foot of Devil’s Peak, which stretches down to the Liesbeeck River, and on the other side up to the Rondebosch Common, is steeped in history and has a strong community spirit, which impetuses the upkeep of the area, says Magner. The residents of Rosebank have recently voted to register it as a Special Rating Area (SRA) and due to the positive response, hope that this will be granted. Their strong neighbourhood watch assists in keeping the area safe and the community website keeps all the residents informed of what is happening around them, which is done in few suburbs in Cape Town.
This biodiverse suburb has many things going for it, including being right next to the Baxter Theatre, close to UCT and the intimate Rosebank Theatre (which seats 50 or so patrons); it is roughly 15 minutes’ drive to the airport and has fourteen well known and well run schools in close proximity.
There are three main sections to Rosebank, says Magner:
· Rosebank ‘proper’ which is between the common and Liesbeek Park Way,
· “The Village”, which runs from Liesbeek Park Way to the railway line; and
· “Academic Rosebank”, which is above the railway line and Main Road, and is mostly UCT residences and many homes used as student digs.
This is an established area, where there aren’t many modern homes and character homes that are renovated are popular. Average plots usually vary in size from 500m2 to 600m2, although there are some that go up to 1 400m2, the smallest being around 200m2. Buyers here tend to be those who prefer the typically older homes with Victorian and Edwardian finishes such as wooden floors and stained glass windows and porches that run the length of the front of the homes.
Prices of homes in Rosebank have gone up in recent months, but it is still more reasonably priced than its neighbour, Rondebosch. Homes tend to range from R2,3 million in the village section, which has semi-detached cottages and terraced homes, and are smaller than the freestanding homes you will find here, to a little over R6 million, says Magner.
Properties that have been sold recently have either been sold at close to or at their asking price but some have gone for above asking price, an indication of the growing demand, she said. Examples of homes sold are a 126m2 three bedroom, two bathroom home priced at R2,25 million, that sold for R2,305 million, or a four bedroom, two bathroom 264m2 home on a 1 188m2 plot that sold for R6,05 million (listed at R6 million).
Magner currently has a property listed at R3,9 million with a character 1934 home on a 670m2 plot. This property has a two bedroom, one bathroom main house with three living rooms and three parking bays. In addition to the main house, there are two flatlets, which could either be used as work from home facilities or rented out to students. Student accommodation around UCT is still in short supply and this would be taken up quickly, she said.
“Rosebank offers good value for money and is in the most central point one can be if living in the southern suburbs,” she said. “What you would pay for a large family home here would be a starter home on the Atlantic Seaboard or CBD or other suburbs in the south.”