Buyers are flocking to the Cape’s northern suburb of Brackenfell where value for money is the name of the game.
“There isn’t enough supply for the high demand,” says Deon de Klerk, Franchise Principal of Jawitz Properties Brackenfell. Semigration is a factor as many prospective buyers coming from Pretoria and Johannesburg are interested in the area. “There is value for money here because the plot prices are more reasonable particularly when compared to neighbouring suburbs like Durbanville. You get a better square meterage in Brackenfell because of the price.”
Stock is always an issue as industrial development has outpaced the availability of housing space. Developers are restricted by municipal structure affecting roads, water and sewerage. “But a market developer who could work around these obstacles could reap the benefit of addressing and supplying property in the vicinity of the station, particularly in the buy to rent space,” de Klerk adds. “Rental yields are in the range of 7-8%.”
Brackenfell offers easy access to the N1, R300 and airport industrial developments, so its location – also boasting Stellenbosch situated just up the road– makes it an appealing suburb, and generally more affordable.
The average price for an apartment starts at R800 000, while a two-bedroom flat or townhouse ranges from R1.15 million – R1.75 million. Three bedroom houses are priced on average from R1. 8 million – R2.7 million, and a larger home can cost in the region of R5 million.
Townhouses appeal the most for first time buyers in Brackenfell and there are a number of good schools and shopping facilities close by.
“The biggest demand for townhouses is in the price range of R1.2 million to R1.4 million. Buyers can expect two bedrooms, one and half bathrooms, two garages and a pet friendly home in this bracket,” de Klerk says.
In terms of houses, on average, buyers are most interested in prices ranging from R1.6 million to R2.3 million. “These properties typically come with excellent security features.”
If a house is priced correctly it can be on the market for as little as a week, but no more than a month. “Homes sell quickly here and buyers who are keen on the area would be wise to keep their ears to the ground by getting in touch with a local estate agent who can notify them when new properties come on the market,” de Klerk concludes.