Semigration is back in full swing with the Western Cape once again being the go-to destination; especially for middle-class Gautengers looking to relocate.
This is the word from Carl Coetzee, CEO of BetterBond who says recent data from Lightstone suggests that 35% of people moving provinces are going to the Western Cape, up from the 31% it was in 2020.
BetterBond’s application volumes for the 12 months ending November 2021 show a 27% increase in applications from the Western Cape. Interestingly, 46% of semigration buyers are moving to smaller but more expensive properties in the province, reports Lightstone. According to BetterBond’s November applications, the average home purchase price in the Western Cape is up 3%.
Growing demand for homes in zoom towns
“As the hybrid work model gathers momentum, we expect to see some return to city centres. However, as many people will only be spending a few days a week in the office, many will opt to settle in suburbs further away from work. These so-called ‘exurbs’ often offer a broader range of properties at accessible prices. Some companies have also set up satellite offices in these areas, making it easier for employees to spend time at work and home, says Coetzee.
If one looks at the semigration trends picked up by Lightstone for the Western Cape, for example, the most popular areas are Milnerton, Mossel Bay, George, Strand and Somerset West. Located outside of Cape Town’s central city, these exurbs appeal to buyers who want an affordable quality of life without being too far out of town, he adds.
SEE: 'Best December' as Western Cape property enquiries flying in these coastal towns
Buy, not rent
Coetzee says single-digit interest rates will encourage more tenants to consider the benefits of paying a home loan rather than financing someone else’s bond.
“We see from the Absa Homeowner Sentiment Index for Q3 (2021) that positive sentiment for buying instead of renting increased by 6 percentage points to 83% - the highest it has been since the index was launched in 2015. Of respondents who were optimistic about buying property, 47% attributed this sentiment to the low interest rates, while 54% agreed that property is always a sound investment,” he says.
From Brackenfell to Muizenberg and Goodwood, these homes offer a perfect spot for first-time buyers and growing families...
1. Picture-perfect family home in Goodwood for R1.6 million
This three-bedroom, one-bathroom home in Vasco Estate offers laminate flooring throughout, open-plan living and large garden.
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2. A modernised home in Kirstenhof for R2.55 million
Set along a lovely road in sought-after Kirstenhof, this home has plenty to offer. It has three renovated bedrooms, two bathrooms and covered outdoor area.
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3. Safety and security in Muizenberg for R1.595 million
Set in the popular Capricorn Beach Estate, which offers good 24-hour manned security, this neatly presented home offers three bedrooms, two bathrooms and a low-maintenance pool.
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4. Charming and contemporary look in Edgemead for R1.95 million
Situated close to Century City and schools, this two-bedroom, one bathroom home in Goodwood offers covered entertainment areas, braai area and well-kept garden.
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