Set on the Cape flats, Grassy Park is one of Cape Town’s southern suburbs.
This home has three bedrooms, one bathroom, a garden, swimming pool and garage. It is on the market for R1.295 million - click here to view.
Situated just east of the M5 and the Princess Vlei near to the suburbs of Ottery and Lotus River, Grassy Park originally began to develop during the early 1960s. However, people have been living in the area on part of the Montagu’s Gift estate to the north of Zeekoevlei since the early 1900s. Initially the area served as rural farmland under the administration of the Divisional Council of the Cape and by 1920 there were already around 2 000 inhabitants who had settled in the area.
Originally known as Koek se Bos, which translates to the Cook’s Bush, Grassy Park was proclaimed a local area in 1935, meaning that residents would receive municipal services.
Today the suburb is a thriving community with ‘busy corner’ on Victoria Road functioning as the heart of the suburb, lined with various shops, a minibus taxi station, a high school and the Grassy Park library. The area is also home to the Cape of Good Hope SPCA, the founding society of the SPCA movement in South Africa and the oldest animal welfare institution in the country.
This home offers two bedrooms, one bathroom, a fitted kitchen, open lounge and garage. It is priced at R680 000 - click here to view.
The Rondevlei Nature Reserve is situated in Grassy Park and it is home to over 230bird species as well as a number of small mammals, reptiles and hippopotamuses.
Adrian Goslett, CEO of RE/MAX of Southern Africa, says while the highest percentage of current homeowners in Grassy Park are aged between 50 and 64 years old, the area has attracted many young buyers recently with around 37.78 percent between the ages of 18 and 35 years old.
He notes that this could be due to the fact that the area offers affordable family homes with around 90 percent of the properties in the area consisting of freestanding homes, while the other 10 percent are sectional title units.
Goslett says from 2004 up until 2008, property price growth in the area was gradual but steady. He says the average price of a freestanding home dipped slightly in 2009, however, it recovered again in 2010. Since then, there has been no real change in the price of property with the figure growing only marginally.
According to Lightstone, the current average price of a freestanding home in Grassy Park is around R624 000, while a sectional title unit is around R185 000.
Goslett points out that from 2004 up until 2010, there was a year-on-year decline in the number of property sales concluded, however, in 2011 the property market in the area turned around and the number of sales transactions began to increase. He says during 2012, 128 property sales were concluded and around 45 properties have sold this year.
“Half of the properties sold in the area between July 2012 and June 2013 fell within the R400 000 to R800 000 price range, making this the most popular category by far. Around 39.1 percent of properties sold during this period were sold for below R400 000, while the remaining 10.9 percent were properties from the higher end of the market that sold for between R800 000 and R1.5 million.”
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